Petrol, diesel prices cut by INR 2 across India, Petroleum Minister says step shows PM’s commitment to people

NEW DELHI, MARCH 15 (IANS) — Petrol and diesel across India will be cheaper by around INR 2 per litre from early on Friday as the oil marketing companies have revised prices, the Petroleum and Natural Gas Ministry announced on Thursday.

“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”, the Ministry said in a post on X.

According to graphs shared by the Ministry, petrol will now cost INR 94.72 per litre in Delhi, against the present price of INR 96.72 per litre, and diesel will cost INR 87.62 against INR 89.72.

In Mumbai, petrol will now sell for INR 104.21 per litre, against INR 106.31, and diesel for INR 92.15 against INR 94.27.

Similarly, in Kolkata, petrol will cost INR 103.94 per litre against INR 106.03 and diesel, INR 90.76 against INR 92.76, and in Chennai, petrol will cost INR 100.75, against the present price of INR 102.63, and diesel, INR 92.34 against INR 94.24.

The Ministry also said that the 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 measure will also benefit the citizens through more disposable income, boost tourism and travel industries, control inflation, lead to increased consumer confidence and spending, reduce expenses for businesses dependent on transportation, lead to enhanced profitability for logistics, manufacturing, and retail sectors, and reduced outgo for farmers on tractor operations & pump sets, it added.

Petroleum and Natural Gas Minister Hardeep Singh Puri hailed the measure.

“By reducing the prices of petrol and diesel by INR 2, the country’s illustrious Prime Minister Shri @narendramodi ji has once again proved that the welfare and convenience of his family of crores of Indians is always his goal”, he said, in a post in Hindi, on X.

Citing a poem by Hindi poet Ramdhari Singh Dinkar, he said these show the commitment of Prime Minister Modi towards his family.

He also compared the prices of fuel in India with several other countries in Europe.