Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, stated on X that the Center has lowered the price of petrol and diesel by ₹ 2. The step comes a few weeks before the Lok Sabha elections.
The updated cost will take effect at six in the morning on March 15. “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,” said the minister.

The reduction in petrol and diesel prices will vary from city to city. The Petroleum Ministry said in Delhi that the per litre cost of petrol in the national capital is ₹ 96.72 and will now be reduced to ₹ 94.72. Meanwhile, diesel is currently priced at ₹ 89.62/L will now be sold at ₹ 87.62/L.

Fuel costs more in Mumbai, India’s financial hub, due to VAT and other taxes than in Delhi, but the ministry has lowered the price by ₹ 2.10/L. The effective price of petrol in Mumbai is ₹ 104.21/L, while the current price is Rs 106.31/L. In Mumbai, the price of diesel per litre is ₹ 94.27; however, as of tomorrow, the effective price would be ₹ 92.15/L.

The cost of petrol has dropped by ₹ 2.09/L in Kolkata. In the meantime, the effective decrease in Chennai would be ₹ 1.88/Litre.

Comparing rates of petrol and diesel in India to other countires, the minister further sais “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.”