Pranab favours 25 percent cut in states taxes on petrol

Monday, June 4, 2012: Finance Minister Pranab Mukherjee today made out a strong case for a 25 per reduction of taxes levied by states on petrol to bring down its price.
Speaking at the day-long meeting of the Congress Working Committee (CWC), he justified the high price of petrol because of the overall international price of crude. He said the states needed to also do their bit on reduction of petrol price.
Corruption and price rise were the most important issues during the discussion at the CWC.
KPCC President Ramesh Chennithala attacked the petroleum companies for raising the petrol prices, especially at a time when Kerala was witnessing a bye election, that put the party in trouble. He wanted the government to take back the power to decide oil prices