The slashing of rates by Rs. 11 was a promise given by the Bharatiya Janata Party (BJP) government in its election manifesto.
Petrol, which used to cost approximately Rs. 66 (Rs. 65.86) in Goa, costs only Rs. 55 (rounded price) from now.
The administration has virtually abolished the value added tax (VAT) component on petrol, reducing it down to 0.1 per cent.
“We needed the VAT budgetary head to keep vigil on petrol pumps so that no petrol is smuggled out of state. The 0.1 per cent VAT will be used for expenses incurred on keeping vigil on border petrol pumps,” Parrikar said.