Srinagar, March 8 -- Stating that prices of fossil fuels are lower in Jammu and Kashmir than the neighbouring states, Chief Minister Omar Abdullah on Friday proposed to reduce rebate on petrol by Rs. 1 per litre while presenting the budget 2025-26 of J&K in the Legislative Assembly."The fossil fuels are presently essential to our development, the encouragement to their consumption needs to be gradually reduced to encourage shift towards use of cleaner technologies," Omar said.He said the prices of these fossil fuels are lower in Jammu and Kashmir than neighbouring States, like Punjab, Haryana, Himachal Pradesh, and Delhi.The CM, however, proposed to reduce rebate on Petrol by Rs. 1 per litre and on HSD by Rs. 2 per litre and increase tax ...