• Sunday, April 28, 2024

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Modi government slashes fuel prices ahead of elections

Indian home minister Amit Shah thanked prime minister Narendra Modi saying he took the decision to give relief to the people of the country.

Representational Image (Photo by DIBYANGSHU SARKAR/AFP via Getty Images)

By: Shubham Ghosh

IN a major move ahead of the general elections, India’s petroleum ministry on Thursday (14) slashed prices of petrol and diesel across the country by Rs 2 (£0.019) a litre after oil marketing companies decide to revise the prices. The new prices would be effective from Friday (15).

“Oil Marketing Companies (OMCs) have informed that they have revised Petrol and Diesel Prices across the country. New prices would be effective from 15th March 2024, 06:00 AM,” the ministry said in a post on X (formerly Twitter).

Following the revision, prices of petrol in India’s national capital Delhi would cost Rs 94.72 (£0.9) a litre while those in other metropolitan cities such as Mumbai, Kolkata and Chennai will drop to Rs 102.41 (£0.97), Rs 103.94 (£0.98) and Rs 100.75 (£0.95), respectively.

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Similarly, prices of one litre of diesel, a widely used fuel, are set to drop in Delhi, Mumbai, Kolkata and Chennai to Rs 87.62 (£0,83) per, Rs 92.15 (£0.87), Rs 90.76 (£0.86) and Rs 92.34 (£0.87), respectively.

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“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,” the ministry added in its post.

Indian home minister Amit Shah posted on X announcing the decision saying prime minister Modi took the decision to give relief to his countrymen.

In a post in Hindi, he said, “Giving relief to the countrymen, Prime Minister Shri @narendramodiji has decided to reduce the prices of petrol and diesel by ₹ 2 per liter. Due to the efforts of Modi ji, the price of petrol in the country has decreased by approximately ₹ 15 per liter and the price of diesel by approximately ₹ 17 per liter in the last two and a half years. I express my gratitude to Modi ji for this decision.”

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