-Oil marketing companies or OMC announced the price
-Price of petrol down to Rs 94.72 in New Delhi
-Petrol costs Rs 104.21 per litre
The Petroleum Ministry of India has announced a price cut of Rs 2 on petrol with effect from 15 March. The price cut is applicable nationwide after Oil Marketing Companies or OMCs decided to revise prices.
Following the price cut, the cost of petrol per litre in the national capital, New Delhi is down to Rs 94.72. In the country’s financial capital, Mumbai, the new price for a litre of petrol is Rs 104.21.
The Petroleum Ministry added that the reduction in the cost of petrol will boost consumer spending. It shall also lower the cost of running a two-wheeler, which a majority of people use to commute to their workplaces. As per the Ministry, over 27 crore two-wheelers stand to benefit from the lowered operating cost due to the drop in prices of petrol.
The benefit of the Rs 2 price cut will be reflected more when one tanks up their two-wheeler. For example, the cost of tanking up a small bike with a 12-litre fuel tank will be Rs 1,136.64 following a price cut. Whereas, before the price cut, it would have cost Rs 1,160.64.
