Here is why petrol, diesel prices will not be reduced in Karnataka

Gujarat and Maharashtra have cut VAT on petrol and diesel prices in their respective states Recently, Centre had reduced the tax on petrol and diesel However, Karnataka CM has clarified that VAT will not be reduced in the state

Gujarat and Maharashtra have cut VAT on petrol and diesel prices in their respective states. But no such development will take place in Karnataka.

Speaking to the media Siddaramaiah, Chief Minister of Karnataka, has said that the state will not cut VAT for petrol and diesel in the state. He urged the Centre to cut the price of the two products to help people.

"Karnataka already has a low price for petrol and diesel when compared to other states. Thus at any cost, the prices on VAT will not be cut. Let the Centre reduce the prices," Siddaramaiah had said while speaking to media at Vidhana Soudha.

Currently, diesel cost Rs 57.25 and petrol cost Rs 69.54 in Bengaluru on October 11.

Following the suit of other states, Madhya Pradesh, Chhattisgarh and Goa too have reduced the VAT.

When the Centre had reduced the tax on petrol and diesel, it was expected that the prices of petroleum products would also come down in Karnataka. But after hearing what the Chief Minister had to say about the issue, there is no hope of getting petrol and diesel at an affordable rate.