Amidst anticipation fueled by recent reductions in liquefied petroleum gas (LPG) and compressed natural gas (CNG) prices, the government has taken a significant step by slashing petrol and diesel prices by Rs. 2 per litre. This move comes ahead of the announcement of the Lok Sabha election schedule.
Modi Government slashes Petrol and diesel prices
Petroleum Minister Hardeep Singh Puri wrote in a post, “By reducing the prices of petrol and diesel by Rs 2, Prime Minister Narendra Modi has once again proved that the welfare and convenience of his family of crores of Indians is always his goal.”
The reduction in petrol and diesel prices follows Prime Minister Narendra Modi’s announcement on International Women’s Day of a Rs. 100 per cylinder cut in cooking gas prices. This initiative is expected to benefit approximately 33 Crore households that rely on LPG as their primary cooking fuel.
Petroleum Minister Hardeep Singh Puri had previously emphasized the need for careful consideration by public sector oil marketing companies (OMCs) before deciding on a reduction in retail prices of petrol and diesel. He cited factors such as global energy market volatility, geopolitical challenges, and the financial health of the companies as key considerations.
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