In a strategic move preceding the announcement of the Lok Sabha election schedule, the Centre has reduced prices of petrol and diesel by Rs 2 per litre. Speculation surrounding the possibility of price cuts was fueled by recent reductions in liquefied petroleum gas (LPG) and compressed natural gas (CNG) prices.
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.
— Ministry of Petroleum and Natural Gas #MoPNG (@PetroleumMin) March 14, 2024
Reduction in petrol and diesel prices will boost consumer spending and reduce operating costs for over… pic.twitter.com/FlUSdtg2Vi
Ministerial Endorsement and Consumer Benefits
Petroleum Minister Hardeep Singh Puri lauded the decision, emphasizing Prime Minister Narendra Modi’s commitment to the welfare of millions of Indians. With petrol averaging at Rs 94 per litre and diesel at Rs 87 per litre, the reduction aims to alleviate the financial burden on consumers. Additionally, the recent Rs 100 per cylinder reduction in LPG prices, announced on International Women’s Day, is expected to benefit approximately 33 crore households.
