India’s state fuel dealers will drop petrol and diesel prices beginning Friday, the first reduction in over two years, ahead of the expected announcement of a national election date.
The retail price of a litre of petrol and diesel in Delhi will fall by 2 rupees ($0.0241), to 94.72 rupees and 87.62 rupees, respectively, according to a petroleum ministry statement on social networking site X.
According to the government, the new prices will take effect at 6 a.m. local time on Friday. The lower costs will help control inflation while increasing consumer confidence and spending.
Opinion surveys forecast an easy victory for Prime Minister Narendra Modi’s Bharatiya Janata Party and its allies in the lower house election.
According to the Ministry of Transportation, “Reductions in petrol and diesel prices will boost consumer spending and reduce operating costs for over 5.8 million heavy goods vehicles running on diesel, 60 million cars, and 270 million two-wheelers.”
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