Hyderabad: Petrol, diesel, and LPG cylinder prices have declined in Hyderabad after the recent rate cuts.
On Thursday, the Ministry of Petroleum and Natural Gas announced that petrol and diesel prices across India would be cheaper by around Rs 2 per litre starting early on Friday, as the oil marketing companies have revised prices.
Earlier, Prime Minister Narendra Modi announced a reduction in the prices of LPG cylinders by Rs 100 on the occasion of International Women’s Day.
Petrol, diesel, and LPG cylinder prices in Hyderabad
After the reduction in rates, the following are the prices of petrol, diesel, and LPG cylinders in Hyderabad:
| Petrol | Rs 107.41/litre |
| Diesel | Rs 95.65/litre |
| Domestic LPG gas | Rs 855 per cylinder |
The price cut was also observed in other cities in India.
Reduction in prices will boost consumer spending
Following the decision to reduce petrol and diesel prices in Hyderabad and other Indian cities, the Ministry stated that the reduction in rates would boost consumer spending and reduce operating costs for over 58 lakh heavy goods vehicles running on diesel, 6 crore cars, and 27 crore two-wheelers.
The measure will also benefit the citizens through more disposable income, boost tourism and travel industries, control inflation, lead to increased consumer confidence and spending, reduce expenses for businesses dependent on transportation, lead to enhanced profitability for logistics, manufacturing, and retail sectors, and reduced outgo for farmers on tractor operations & pump sets, it added.
