In a significant move ahead of Dhanteras, the Modi government has announced a substantial reduction in petrol and diesel prices, providing a much-needed relief to consumers. Union Petroleum Minister Hardeep Singh Puri shared the news on the social media platform X, stating that the prices of both petrol and diesel will decrease by up to Rs 5. This announcement comes as a festive gift to the nation, aiming to ease the financial burden on the public during the festive season.
The decision to cut fuel prices follows a seven-year period during which oil companies have increased the commission for petrol pump dealers. Despite this increase, the prices of petrol and diesel are set to decrease due to the rationalization of transportation costs by oil companies. By connecting refineries through train and road networks, the supply of oil from one state to another will become more efficient, leading to reduced costs.
Minister Puri provided specific examples of the price reductions in his post. In Kunanpalli and Kalimela in Malkangiri, Odisha, the price of petrol will be reduced by ₹4.69 and ₹4.55 respectively, while diesel prices will drop by ₹4.45 and ₹4.32. Similarly, in Sukma, Chhattisgarh, petrol prices will decrease by Rs 2.09 and diesel by Rs 2.02. The minister welcomed the announcement by Oil Marketing Companies (OMCs) to increase dealer commissions and rationalize inter-state freight, benefiting consumers in remote locations.
This decision is set to take effect after the results of the Maharashtra and Jharkhand assembly elections. The reduction in fuel prices is expected to bring significant relief to consumers across the country, making the festive season more affordable and enjoyable. The government's proactive approach in addressing transportation costs and dealer commissions highlights its commitment to ensuring economic stability and consumer welfare.