Mumbai: After scrapping local body tax (LBT) on traders whose annual turnover is less than Rs 50 crore, the Maharashtra government may soon extend the waiver to petrol and diesel dealers too.

The petrol prices may fall by Rs 2-3 if the LBT is waived, according to dealers. "We are positively considering exempting petrol and diesel dealers from LBT in municipal corporation limits. These dealers have been long saying that there are price variations in urban and rural areas, and net profit of individual dealers is not more than Rs 50 crore, so they too should be exempted," finance minister Sudhir Mungantiwar said.