The price of petrol in Mumbai was at Rs 111.35. It will now cost 106.35.
Diesel price was at Rs 97.28. It will now cost Rs 94.28.
Shinde told the media that the decision would entail a burden of Rs 6,000 crore on the state exchequer.
Deputy CM Devendra Fadnavis said the decision was part of the Shiv Sena-BJP government's commitment to people's welfare.
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