Petrol and diesel prices are being reduced by ₹2 per litre, Union petroleum minister Hardeep Singh Puri announced on Thursday. This is the first pan-India reduction in fuel rates since May 2022.
“By slashing petrol and diesel prices by ₹2 (per litre), prime minister Narendra Modi has once again shown that providing welfare and convenience to his family of crores of Indians, has always been his goal,” Puri wrote in a post on X (formerly Twitter).
The revised rates will come into effect from 6 am on Friday, the oil ministry said. Petrol in Delhi, the national capital, will now cost ₹94.72 per litre, while customers will have to pay ₹87.62 for an equal quantity of diesel. The corresponding prices (per litre) in Mumbai will be ₹102.31 (petrol) and ₹92.27 (diesel); ₹104.03 and ₹90.76 in Kolkata; ₹100.73 and ₹92.33 in Chennai; ₹99.94 and ₹85.89 in Bengaluru; and, ₹107.66 and ₹95.82 in Hyderabad.
{{/usCountry}}The revised rates will come into effect from 6 am on Friday, the oil ministry said. Petrol in Delhi, the national capital, will now cost ₹94.72 per litre, while customers will have to pay ₹87.62 for an equal quantity of diesel. The corresponding prices (per litre) in Mumbai will be ₹102.31 (petrol) and ₹92.27 (diesel); ₹104.03 and ₹90.76 in Kolkata; ₹100.73 and ₹92.33 in Chennai; ₹99.94 and ₹85.89 in Bengaluru; and, ₹107.66 and ₹95.82 in Hyderabad.
{{/usCountry}}Meanwhile, the previous pan-India revision to fuel prices was made on May 21, 2022, when the government slashed the excise duty on petrol and diesel by ₹8 and ₹6 per litre, respectively.
Also Read: Centre cuts excise duty on petrol, diesel; prices to drop by ₹9.5, ₹7 per litre
Also, the government's Thursday move comes on the eve of Lok Sabha elections, which are likely to be held in April-May. The Bharatiya Janata Party (BJP), of which Puri is a member, is aiming a third consecutive term at the Centre, with prime minister Narendra Modi seeking a hattrick of wins in the coveted post.
The Election Commission of India (ECI) is expected to announce the dates soon.