The Centre reduced petrol and diesel prices by ₹ 2, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on X. The announcement comes weeks ahead of the Lok Sabha elections.
The revised price will be effective from March 15, 6 am. “By reducing the prices of petrol and diesel by ₹ 2, the country’s illustrious Prime Minister Modi has once again proved that the welfare and convenience of his family of crores of Indians is always his goal,” the minister said.
Last week, Petroleum and Natural Gas minister Hardeep Singh Puri had said said reduction in domestic fuel prices could be considered when international crude oil prices stabilise. The minister had also pointed out that the OMCs are still facing under-recovery on the sale of diesel.
Crude oil prices are currently trading around $80 per barrel, compared to highs of $140 per barrel in March 2022.
“When the world was going through difficult times – petrol prices increased by 50-72 percent in developed and developing countries and in many countries around us petrol was no longer available, even then, in the fifty years after 1973, Despite the biggest oil crisis, Modi’s family was not affected due to his visionary and intuitive leadership. Instead of increasing, petrol prices in India decreased by 4.65 percent in the last two and a half years!,” Puri said in a post on X, formerly Twitter.
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