Petrol, Diesel Prices Slashed By Rs 2 All Over India Ahead Of LS Polls

The Centre on Thursday slashed prices of petrol and diesel by Rs 2 per litre all across India ahead of Lok Sabha elections, according to Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri.

The revised petrol and diesel prices will become effective from March 15, 2024, 6 am.

Hardeep Singh Puri, in a post on X (earlier Twitter) said, "By reducing the prices of petrol and diesel by Rs 2, Prime Minister Narendra Modi has once again proved that the welfare and convenience of his family of crores of Indians is always his goal."

Below is the post:

Puri added that despite the biggest oil crisis, "petrol prices in India decreased by 4.65 per cent in the last two and a half years."

Amid the recent decline in liquefied petroleum gas (LPG) prices and compressed natural gas (CNG) prices, a decline in the prices of petrol and diesel was anticipated ahead of the Lok Sabha Elections.

"On March 14, 2024, in rupee terms, petrol in India is on average Rs 94 per litre but in Italy Rs 168.01- i.e. 79% more; In France Rs 166.87 i.e. 78% more; In Germany Rs 159.57 i.e. 70% more and in Spain Rs 145.13 i.e. 54% more," Puri said.

According to the Petroleum Ministry, in Delhi diesel is presently priced at Rs 89.62/L and now it will be priced at Rs 87.62/L. On the other hand, price of one litre of petrol in Delhi right now is Rs 96.72 and now it will come down to Rs 94.72.

In Mumbai, petrol price is Rs 106.31/litre and after the reduction, price of petrol will be Rs 104.21/litre. Presently, cost of one litre of diesel in Mumbai is Rs 94.27 and the new prices from tomorrow (March 15) will be Rs 92.15/litre.

"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," added the petroleum ministry.