Chennai: The price of petrol in Chennai is Rs 99.47 per liter, the reduction in tax has brought down the prices of petrol. The federal government has allowed oil companies to set these prices on a daily basis. In India, the price of petrol was over Rs 100. Opposition parties have stated they will not run in the by-elections. In this context, during the Tamil Nadu Assembly elections, the DMK announced in its election promise that "if we come to power, the price of petrol will be reduced by Rs 5 per liter and diesel by Rs 3 per liter. The subsidy for cooking gas will be Rs 100." 

Opposition parties have accused the DMK of failing to take any action to reduce petrol and diesel prices despite coming to power and fulfilling various promises. AIADMK also staged a protest. It read, "Dawn brother, what promises?" Finance Minister PDR Palanivel Thiagarajan told reporters that the Union government is taking a bigger part in the tax on petrol and diesel. Therefore, it is not possible at present to reduce the price of petrol and diesel, he said.

In this context, the general budget was tabled in Tamil Nadu yesterday. Thus it was expected that there would be announcements regarding petrol and diesel prices. The Finance Minister had announced in the budget that the tax would be reduced as the Chief Minister had ordered a reduction of Rs 3 crore on petrol, despite the loss of Rs 1160 crore to the state. Finance Secretary Krishnan had said the reduction would take effect from midnight. Accordingly, the reduction in petrol price came into effect in Tamil Nadu from midnight. As a result, petrol price in Tamil Nadu has come down to Rs 100. After the reduction, the price of a liter of petrol in Chennai is Rs 99.47.

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