Petrol price cut: Petrol, diesel prices reduced by ₹2 per litre

Petrol and diesel prices have been slashed by ₹2 per litre just before the Lok Sabha elections.

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The oil ministry has announced that the adjusted fuel prices will come into effect starting from 6 am on Friday.

Announced by Union petroleum minister Hardeep Singh Puri on Thursday, there will be a ₹2 per litre reduction in both petrol and diesel prices. This marks the first nationwide decrease in fuel rates since May 2022.

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“In reducing petrol and diesel prices by ₹2 per litre, Prime Minister Narendra Modi has reiterated his commitment to prioritizing the welfare and convenience of millions of Indians, as expressed by Puri in a post on X (formerly Twitter).”

The oil ministry has announced that the updated rates will take effect from 6 am on Friday. In Delhi, the national capital, petrol will now be priced at ₹94.72 per litre, while diesel will cost ₹87.62 per litre. Similarly, in Mumbai, petrol will be priced at ₹102.31 per litre and diesel at ₹92.27 per litre. In Kolkata, the prices will be ₹104.03 for petrol and ₹90.76 for diesel per litre, while in Chennai, they will be ₹100.73 and ₹92.33 respectively. In Bengaluru, petrol will be priced at ₹99.94 per litre and diesel at ₹85.89 per litre, while in Hyderabad, the prices will be ₹107.66 for petrol and ₹95.82 for diesel per litre.
Regarding the previous nationwide adjustment in fuel prices, it occurred on May 21, 2022. During that revision, the government reduced the excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre.
The government’s action on Thursday coincides with the impending Lok Sabha elections, anticipated to take place in April-May. The Bharatiya Janata Party (BJP), represented by Puri, is striving for a third consecutive term in power at the Centre, while Prime Minister Narendra Modi is aiming for a hat-trick of victories in the prestigious position. The Election Commission of India (ECI) is anticipated to release the dates imminently.

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