After LPG Cylinders, Petrol And Diesel Get Cheaper By Rs 2 Per Liter
Ahead of the Lok Sabha Elections, state-owned oil companies have announced a price cut on both petrol and diesel.
According to the announcement made on Thursday evening, petrol and diesel prices were cut by Rs 2 per litre.
New prices effective from March 15
"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 Petroleum Ministry said in a social media post.
Petrol, diesel price in Delhi
According to revised prices, petrol will now cost Rs 94.72 per litre in Delhi, against the present price of Rs 96.72 per litre, and diesel will cost Rs 87.62 against Rs 89.72.
Petrol, diesel price in Mumbai
In Mumbai, petrol will now sell for Rs 104.21 per litre, against Rs 106.31, and diesel for Rs 92.15 against Rs 94.27.
In Kolkata, petrol will cost Rs 103.94 per litre against Rs 106.03 and diesel, Rs 90.76 against Rs 92.76, and in Chennai, petrol will cost Rs 100.75, against the present price of Rs 102.63, and diesel, Rs 92.34 against Rs 94.24.
Boost consumer spending: ministry
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 and pump sets, it added.
It should be noted that this is the first revision of petrol and diesel prices by OMCs in nearly two years.
LPG price reduced by Rs 100
The prices were slashed just before the announcement of the schedule for the Lok Sabha elections, after which the Model Code of Conduct will come into effect.
Earlier this month the price of LPG was reduced by Rs 100 per cylinder.
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