To mark the birth anniversary of the Fourth Druk Gaylpo, the price of petrol will drop by Nu 10.29 a liter and diesel by Nu 7.75 a liter from 11:11am tomorrow, the government announced today in a press conference.

The announcement was made after the Government of India recently exempted the levy of excise duty on petrol and diesel. Despite significant loss of revenue to the national exchequer through  excise duty refund, the Government stated that it has decided to pass on the full benefits of the excise exemption to the general public of Bhutan without imposing any additional taxes.

The drop in the fuel prices is expected to stimulate the economy by lowering the cost of transportation that will result in a drop in prices for consumer and industrial goods.