Drop in petrol prices in AP

The decision taken by the AP government to reduce the VAT on petrol by 2% has led to a reduction in petrol prices by 1.19 INR per litre. The EC’s permission was sought on this decision and the EC approved the request. A formal order is to be issued, regarding the same by Thursday. This decision has currently resulted in a reduction in saving by 186 crore INR in the reserves.