The Indian government has reduced petrol and diesel prices by Indian two rupeee, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on X.

The announcement comes weeks ahead of the Lok Sabha elections.

The revised price will be effective from March 15, 6 am. "By reducing the prices of petrol and diesel by ₹ 2, the country's illustrious Prime Minister Modi has once again proved that the welfare and convenience of his family of crores of Indians is always his goal," the minister said.

In January, Union Minister Hardeep Puri said that fuel prices will not be cut in the near future as there is high crude volatility. Dismissing media reports as 'speculative'.

"The supply of fuel in India remained constant, remained at cheap prices and our steps also continued to move towards green energy. That is, India maintained Energy Availability, Affordability and Sustainability," the ministry said.

"Reduction in petrol and diesel prices will boost consumer spending and reduce operating costs for over 58 lakh heavy goods vehicles running on diesel, 6 crore cars and 27 crore two-wheelers," the petroleum ministry said. The reduction in petrol and diesel prices will vary from city to city. The Petroleum Ministry said in Delhi that diesel is currently priced at ₹ 89.62/L will now be sold at ₹ 87.62/L. Meanwhile, the per litre cost of Petrol in the national capital is ₹ 96.72 and will now be reduced to ₹ 94.72.

Oil Marketing Companies (OMCs) have informed that they have revised Petrol and Diesel Prices across the country. New prices would be effective from 15th March 2024, 06:00 AM.

Oil price in India

As per NDTV , the current Petrol price in Mumbai is Rs106.31/L and the effective price would be ₹ 104.21/L. The per litre cost of Diesel in Mumbai is ₹ 94.27, the effective price from tomorrow would be ₹ 92.15/L.

Post a commentIn Kolkata, the petrol price has been reduced by ₹ 2.09/L. Meanwhile, in Chennai, the effective reduction would be ₹ 1.88/Litre.