State-run oil refiners have agreed to a partial rollback of last month's petrol price increase, which was the steepest rise in India's history
Petrol price was slashed by Rs 2 per litre with effect from midnight Saturday.u00a0State-owned Indian Oil Corp Saturday said it has reduced petrol price by Rs.2.02 a litre, including state levies, in Delhi from midnight Saturday.u00a0
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After public outcry over the steepest rise in the country's history, the state-run oil companies have agreed to a partial rollback of petrol price.
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According to sources, in all Rs.1.68 a litre have been reduced by the oil company as the international crude prices have softened in the last fortnight.
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The oil company said the price cut in other states will vary from that in Delhi and depend on state levies.
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Currently, petrol costs Rs.73.18 a litre in the national capital. From midnight Saturday the prices will fall to Rs.71.16 a litre.
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In the steepest ever hike, petrol prices were increased to Rs 7.50 a litre last month.
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