The government has announced a nationwide reduction in petrol and diesel prices, slashing them by Rs 2 per litre. The new prices will take effect from 6 am on March 15. In Delhi, the revised price for petrol is Rs 94.72 per litre, while diesel will now cost Rs 87.62 per litre. Similarly, in Mumbai, petrol will be priced at Rs 104.21 per litre, with diesel at Rs 92.15 per litre.
According to a statement released on the X platform by the Ministry of Petroleum and Natural Gas, this price adjustment aims to stimulate consumer spending and decrease operational expenses for a significant number of vehicles, including over 58 lakh heavy goods vehicles, 6 crore cars, and 27 crore two-wheelers reliant on diesel.
This reduction in fuel prices precedes the upcoming Lok Sabha elections and marks the first revision since May 2022. Earlier in the month, the government also announced a Rs.100 decrease in the prices of LPG cylinders (14.2 kg).