Get ready for a huge bonus come January 1. With the general elections slated for the first half of 2024, Prime Minister Narendra Modi is working on big fuel and diesel price reductions that he may announce before the year ends. These savings may reach a maximum of Rs 10 per liter.
It is expected that this move will take place before the Lok Sabha elections in April and May of 2024.
The Petroleum Ministry is reportedly working on a plan that will include reductions in petrol and diesel prices of between Rs 8 and Rs 10 per liter. PM Modi may approve it on Thursday.
The cost of gasoline and fuel might decrease by ₹10. This move comes almost two years after the Center decided to cut the Central Excise levy on both fuels in order to slash the price of gasoline and diesel by ₹8 and ₹6, respectively.
While reducing fuel prices in India, the present decline in the price of crude oil on the international market would be taken into consideration.
At now, petrol and diesel costs ₹89.62 and ₹96.71 in Delhi, respectively. However, in several large cities, including Bengaluru and Mumbai, the cost of gasoline is much more than ₹100.
In a number of India’s largest cities, the price of gasoline and diesel has risen beyond ₹110. The main causes of this are the fluctuations in the market brought on by the COVID-19 pandemic and the conflict between Russia and Ukraine, which has increased the cost of crude oil.
How can I find the cost of gasoline and diesel?
Consumers may easily find out how much gas and diesel costs in their towns. It just requires sending an SMS. For BPCL customers, send dealer code to 9223112222; for HPCL customers, send HPPRICE to 9222201122. If you are a customer of Indian Oil, you may, however, text the words RSP to 9224992249. Following that, you will soon get details on the most latest price.
