Fuel prices in Mumbai all set to be reduced from from July 1

The Maharashtra government has declared a reduction in fuel taxes in the Mumbai Metropolitan Region (MMR) during the state Budget 2024

The state government will lower the Value Added Tax (VAT), resulting in a reduction of 65 paise per litre for petrol and Rs. 2.60 per litre for diesel

The reduced fuel prices will come into effect from July 1, 2024

The price reduction will be implemented in the municipal areas of Brihanmumbai, Thane, and Navi Mumbai

Tax on diesel is being decreased from 24% to 21%, while that on petrol is being reduced from 26% to 25%

The VAT reduction is estimated to cost the state exchequer about ₹200 crore

Fuel prices in other parts of Maharashtra will remain unchanged

The fuel price reduction in Mumbai and neighbouring areas comes ahead of the Maharashtra state elections scheduled later this year

The reduction also comes amidst Goa and Karnataka increasing fuel prices respectively earlier this month 

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