In a significant move ahead of the Lok Sabha elections, Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced a reduction of ₹2 in petrol and diesel prices across Bharat. The revised prices, effective from March 15 at 6 am, aim to provide relief to consumers amidst rising fuel costs.
Minister Hardeep Singh Puri lauded Prime Minister Modi’s commitment to the welfare of millions of Indians, stating, “By reducing the prices of petrol and diesel by ₹2, the country’s illustrious PM Modi has once again proved that the welfare and convenience of his family of crores of Indians is always his goal.”
Highlighting the comparative fuel prices globally, Puri underscored Bharat’s relatively affordable rates. He noted despite recent increases, petrol in Bharat stands at an average of ₹94 per litre, significantly lower than prices in countries like Italy, France, Germany, and Spain.
Contrary to earlier indications of maintaining prices due to crude volatility, the ministry’s decision reflects a proactive approach towards alleviating consumer burden. Accentuating the government’s commitment to energy sustainability, the ministry affirmed Bharat’s strife towards green energy initiatives alongside ensuring consistent fuel supply at affordable rates.
The reduction in petrol and diesel prices is poised to stimulate consumer spending and alleviate operating costs for numerous sectors, including over 58 lakh heavy goods vehicles, 6 crore cars, and 27 crore two-wheelers reliant on diesel.
Providing specifics, the Petroleum Ministry detailed the new prices in major cities. In Delhi, diesel, currently priced at ₹89.62 per litre, will now be sold at ₹87.62 per litre, while petrol, priced at ₹96.72 per litre, will see a reduction to ₹94.72 per litre.
In Mumbai, where taxes contribute to higher fuel costs compared to Delhi, petrol prices will drop by ₹2.10 per litre, resulting in an effective price of ₹104.21 per litre, and diesel will be priced at ₹92.15 per litre from the current ₹94.27.
Similar reductions will be witnessed in Kolkata, with petrol prices down by ₹2.09 per litre, and in Chennai, where the reduction will be ₹1.88 per litre, providing relief to consumers across major metropolitan areas.
