Petrol and Diesel Prices Reduced: The cost of petrol and diesel has been slashed by two rupees per litre, with the new rates set to take effect from 6 am on 15th March, Friday. These petroleum product prices had remained steady for nearly two years.
Ahead of the upcoming Lok Sabha elections, the Modi government has delivered positive news, announcing a two-rupee reduction in petrol and diesel prices. Union Minister Hardeep Singh Puri announced the rate cuts, following a previous announcement by the Rajasthan government of a two percent reduction in VAT on these fuels, providing considerable relief to the public.
This move comes amidst anticipation of Lok Sabha election dates being announced by the Election Commission. The Petroleum Ministry confirmed that government-owned petroleum companies have decided to adjust petrol and diesel prices. Notably, these prices had been stable for almost two years.
Following the reduction, petrol in the national capital will now cost Rs 94.72 per liter, down from Rs 96.72, while diesel will be priced at Rs 87.62, reduced from Rs 89.62 per liter.
Union Minister Hardeep Singh Puri took to social media platform ‘X’ to commend Prime Minister Narendra Modi for prioritizing the welfare and convenience of millions of Indians. He highlighted that despite global challenges, including a significant oil crisis, Modi’s leadership ensured stability, with petrol prices in India decreasing by 4.65 percent over the past two and a half years.
Puri emphasized India’s unique position, stating, “India was the only country where the prices of petrol and diesel decreased instead of increasing. We sourced oil from 27 countries before Modi became Prime Minister, and under his leadership, expanded to 39 countries to ensure affordable fuel for our citizens.”
Furthermore, Puri noted Modi’s efforts in reducing central excise on petrol and diesel twice, in November 2021 and May 2022, while also encouraging BJP-ruled states to lower VAT rates, providing direct relief to citizens. This approach has resulted in a significant price difference between BJP-ruled states and others, with approximately Rs 15 less for petrol and Rs 11 less for diesel in BJP-ruled states.
