Petrol and Diesel Prices Across India to Reduce by Rs 2/Litre from Friday
New Delhi, March 14 (IANS) – Fuel prices in India are set to decline by around Rs 2 per litre starting Friday as oil marketing companies have adjusted the rates, the Petroleum and Natural Gas Ministry announced on Thursday. The revised prices will come into effect from 15th March 2024 at 06:00 AM.
According to the Ministry, petrol in Delhi will now cost Rs 94.72 per litre, down from the current Rs 96.72, while diesel will be priced at Rs 87.62 per litre as opposed to Rs 89.72. In Mumbai, the price of petrol will be Rs 104.21 per litre, down from Rs 106.31, and diesel will be priced at Rs 92.15 instead of Rs 94.27.
The reduction in prices in Kolkata will see petrol cost Rs 103.94 per litre compared to Rs 106.03, and diesel priced at Rs 90.76 instead of Rs 92.76. Similarly, in Chennai, petrol will be priced at Rs 100.75 per litre, down from Rs 102.63, and diesel at Rs 92.34 instead of Rs 94.24.
The Ministry highlighted that the price cut will have several positive impacts, including boosting consumer spending, reducing operating costs for heavy goods vehicles, cars, and two-wheelers, resulting in more disposable income for citizens, benefiting various industries, controlling inflation, increasing consumer confidence, reducing expenses for businesses, and lowering outgo for farmers on tractor operations and pump sets.
Petroleum and Natural Gas Minister Hardeep Singh Puri praised the move, emphasizing the significant benefits it will bring to the economy and citizens alike.
