Advertisement
New Delhi: Ahead of Lok Sabha polls, the government has reduced the prices of petrol and diesel by Rs 2 per litre, Union Minister Hardeep Singh Puri said. The new prices will become effective from 15 March at 6 am, said the Ministry of Petroleum and Natural Gas.
*Petrol new prices across the major cities:
-In Delhi, the price will be reduced from Rs 96.72 to Rs 94.72
-In Mumbai, the rates will go from from Rs 106.31 to Rs 104.21
-In Kolkata, the price of petrol will be reduced from Rs 106.3 to 103.94
-In Chennai, the rate of petrol will reduce from Rs 102.63 to 100.75
*Here are the new diesel rates:
-In Delhi, the price of diesel will be reduced from Rs 89.62 to Rs 87.62
-In Mumbai, the price of diesel will be reduced from Rs 94.27 to Rs 92.15
-In Kolkata, the price of diesel will be reduced from Rs 92.76 to 90.76
-In Chennai, the price of diesel will be reduced from Rs 94.24 to 92.34
In a post on social media platform X Union minister said,”By reducing the prices of petrol and diesel by Rs 2, the country’s honourable 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.”
The Petroleum Ministry said the reduction in petrol and diesel prices will boost consumer spending. The development comes hours after the Rajasthan government announced a 2 per cent reduction in VAT on petrol and diesel and a 4 per cent hike in dearness allowance of employees and pensioners ahead of the general elections. The decisions will become effective from Friday morning in Rajasthan.
The Ministry of Petroleum and Natural Gas said oil marketing companies (OMCs) have informed that they have revised petrol and diesel prices across the country. New prices would be effective from March 15 2024, 06:00 am, it added.
The Ministry said that 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 reduction in the price of petrol and diesel comes ahead of the upcoming Lok Sabha elections. Rates differ from state to state, depending on the incidence of local taxes.Local sales tax or VAT is the highest among metros in BJP-ruled Maharashtra and lowest in Delhi.
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.”
It also added,”Reduced petrol and diesel prices will benefit the citizens through more disposable income, boost for tourism and travel industries, control over inflation, increased consumer confidence and spending, reduced expenses for businesses dependent on transportation, enhanced profitability for logistics, manufacturing, and retail sectors, and reduced outgo for farmers on tractor operations and pump sets.”
