Fuel sales, which typically surge during election periods, have deviated from this pattern in 2024, showing a consistent decline month after month. The downward trend persisted even after the conclusion of the general elections.

According to Siddaramaiah, the VAT on petrol is 25 per cent plus Rs 5.12 additional tax, and on diesel in Maharashtra it is 21 per cent. He, further, states, Karnataka’s revised rates are still more affordable.

The Ministry of Petroleum and Natural Gas emphasized in a social media post that the reduction in fuel prices would positively impact consumer spending and reduce operating costs, especially for heavy goods vehicles, cars, and two-wheelers.

Petrol and diesel prices were cut by Rs 2 per litre each. The revised price will be applicable from 6 am on Friday, March 15.