Petrol and diesel prices will be cut by Rs 2 from Friday, according to reports. While confirming this, the Union Minister for Petroleum and Natural Gas wrote on X (formerly known as Twitter): “By reducing the prices of petrol and diesel ₹ by Rs 2, the country’s illustrious Prime Minister Shri @narendramodi ji has once again proved that the welfare and convenience of his family of crores of Indians is always his goal.”
Ministry of Petroleum and Natural Gas wrote on X (formerly known as Twitter): “The 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,” it added.
It further stated, “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.”
As per the ministry, the reduced petrol and diesel prices will benefit the citizens through —
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More disposable income.
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Boost for tourism and travel industries.
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Control over inflation.
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Increased consumer confidence and spending.
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Reduced expenses for businesses dependent on transportation.
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Enhanced profitability for logistics, manufacturing, and retail sectors.
Rajasthan residents will benefit from a 2 per cent cut in VAT on petrol and diesel, announced the state government. By reducing petrol and diesel prices by Rs 2, their benefits will be much greater.
