New Delhi, Jun 2: Petrol prices were cut by about Rs 2 a litre from midnight by state-run oil firms, a prejudiced rebate of a Rs 6.28-plus boost carried out some-more than a week ago.
Motorists in Patna will now compensate Rs 73.82 instead of Rs 75.92 for a litre of petrol.
The prejudiced rebate of petrol prices, however, did not prove domestic parties, that demanded a finish rollback of a hike.
“We could have cut some-more had rupee not unheeded opposite a dollar neatly during a fortnight,” P.K. Goyal, executive finance, IOC, said.
“Every dollar reduction in general oil cost translates into a cut in product cost by 33 paise a litre. But each time rupee depreciates opposite dollar by rupee one, it translates into a requirement to lift prices by 77 paise a litre,” he said.
While a Congress welcomed a cut in petrol prices, a BJP demanded a finish rollback. The CPM politburo also demanded a sum rollback saying a “token cut is unacceptable”.R Soft Web Hosting