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The new petrol and diesel prices will be applicable from 6:00 AM on March 15. This is the first cut in petrol and diesel prices by state-owned oil companies in nearly two years.
The Ministry of Petroleum and Natural Gas in a post on X (formerly Twitter), highlighted that the price cut will benefit consumers and lower operating expenses for heavy goods vehicles, cars, and two-wheelers.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 stated on social media.
New Petrol, Diesel prices in Delhi, Mumbai, Kolkata and Chennai
So what will be the new petrol and diesel prices in major cities from March 15? Let’s take a look:
Petrol prices in the national capital will drop to Rs 94.72 per litre and diesel to Rs 87.62 per litre. Mumbai, Kolkata, and Chennai will see petrol prices at Rs 104.21, Rs 103.94, and Rs 100.75 per litre, respectively, while diesel prices will be Rs 92.15, Rs 90.76, and Rs 92.34 per litre.
The Petroleum Ministry’s post on X read:
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.
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.
Reduced petrol & diesel prices will benefit the citizens through:
● More disposable income.
● Boost for tourism and travel industries.
● Control over inflation.
● Increased consumer confidence and spending.
● Reduced expenses for businesses dependent on transportation.
● Enhanced profitability for logistics, manufacturing, and retail sectors.
● Reduced outgo for Farmers on tractor operations & pump sets.
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