Petrol, diesel price cut: Check revised fuel rates in Delhi, Mumbai, Kolkata, Chennai

Union Minister for Petroleum and Natural Gas Hardeep Puri on Thursday announced that Centre has cut the prices for petrol and diesel across the country by ₹2. The price cut in fuel rates comes just a few days ahead of the announcement of the Lok Sabha elections.

The Ministry of Petroleum and Natural Gas released the revised prices on its official X account, announcing that the new fuel rates will come into effect across the country from 6 am on March 15. The ministry tweeted, “Reduction in petrol and diesel prices will boost consumer spending and reduce operating costs for over 58 lakh heavy goods vehicles running on diesel, 6 crore cars and 27 crore two-wheelers.”

Hailing the decision by the central government, Puri posted on X, “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 central government further said that the price cut in petrol and diesel rates will benefit the citizens of India in multiple ways, including a boost in travel and tourism sector; boost in disposable income; reduced outgo for farmers on tractors, and many more.

Hardeep Puri further said that the with the rate cuts, India has one of the lowest fuel prices as compared to other major European nations. “On March 14, 2024, in rupee terms, petrol in India is on average ₹94 per litre but in Italy ₹168.01- i.e. 79% more; In France ₹166.87 i.e. 78% more; In Germany ₹159.57 i.e. 70% more and in Spain ₹145.13 i.e. 54% more,” he said.

Petrol, diesel prices on March 15: City-wise rates

In January this year, there was speculation that the union government is planning a significant cut in petrol and diesel prices. However, Puri had rejected all speculations, saying that there would be no fuel rate cuts in the near future keeping in mind the high crude oil prices.