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03/06/2012 06:37 AST
After the sharp criticism over the steepest hike, petrol price was today cut by Rs 2.02 rpt 2.02 per litre, a partial rollback of the Rs 7.54 a litre increase effected more than a week ago.
The reduction, a result of fall in international oil prices, will mean that petrol in Delhi will cost Rs 71.16 rpt 71.16 per litre from midnight tonight, as against Rs 73.18 at present.
The decision, flowing out of the fortnightly review by oil marketing companies, came as some relief for consumers battered by double-digit inflation and the May 24 hike which was the steepest ever that came on top of two increases in a year.
The May 24 hike had come under sharp attack from all political parties including allies like TMC and DMK and some ministers in the UPA and there was all-round demand for a rollback.
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Business Standard
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 70.7 | -0.16 | -0.23 |
| WTI | 65.74 | 0.23 | 0.35 |
| OPEC Basket | 67 | 1.87 | 2.87 |
05/02/2026
Syria will soon announce a major oil project with US energy giant Chevron, the head of the country's investment authority said on Tuesday, as Damascus seeks to attract foreign capital after years of
Gulfnews
05/02/2026
Oil prices extended gains on Wednesday after the US shot down ?an Iranian drone and armed Iranian boats approached a US-flagged vessel in the Strait of Hormuz, rekindling fears of an escalation in te
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02/02/2026
OPEC+ agreed to keep its oil output unchanged for March at a meeting, the producer group said on Sunday, even after crude prices hit six-month highs on concern the US could launch a military strike o
Reuters
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Oil prices plunged Monday after Donald Trump said he was hopeful of reaching a deal with Iran, easing concerns about a conflict between the two in the crude-rich region.
West Texas Intermedi
AFP
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The Sultanate of Oman's oil exports recorded a slight decrease of 0.1% by the end of December 2025, reaching 307,960,900 barrels compared to 308,422,100 barrels during the same period in 2024, accord
Times of Oman
Financial Information Co.
Saudi Arabia