Petrol and Diesel
In a relief to people ahead of the Lok Sabha polls, the Petroleum and Natural Gas Ministry has announced a reduction of Rs. 2 on petrol and diesel. On Friday, the Ministry said on Platform X that Oil Marketing Companies (OMCs) have announced that they have revised petrol and diesel rates. The new rates would come into effect across the country on March 15, 2024, at 6 a.m.
Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, shared a post about the reduction of fuel prices on Platform X. He wrote that “by reducing the petrol and diesel rates by Rs 2/liter, PM Modi has again proved that his aim has always been the welfare and convenience of his family of crores of Indians.”
The ministry said in its post that price reductions will definitely boost consumers spending capability. It also mentioned that the price drop will reduce the operating cost of over 58 lakh heavy goods vehicles that run on diesel, along with six crore cars and 27 crore two-wheelers. It will reduce the expenses of businesses that depend on transportation, enhancing profitability for logistics, manufacturing, and retail sectors, as well as farmer tractor operations and pump set usage.
“Fuel price drops will benefit the citizens of this country through more disposable income. It will also boost the tourism and travel industries and bring control over inflation. However, the opposition parties are alleging that the reduction of fuel prices just ahead of the Lok Sabha polls is a poll strategy of the BJP to manipulate and attract voters.
