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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 | 62.51 | -0.68 | -1.08 |
| WTI | 58 | -0.78 | -1.33 |
| OPEC Basket | 64.43 | -0.22 | -0.34 |
03/12/2025
OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more clos
Reuters
01/12/2025
Ministers of the Organization of the Petroleum Exporting Countries and allied nations (OPEC+) are expected to keep current output levels unchanged when they meet for online meetings on Sunday, analys
Khaleej Times
24/11/2025
At the heart of the US shale industry in Texas, oil production is climbing. But you wouldn't know that if you talked to Mark Waters, who owns a store that sells tools and safety equipment to oil firm
Reuters
17/11/2025
Oil prices settled more than 2% higher on Friday as Russia's port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the Russian energy hub, stoking supply
Gulf Times
11/11/2025
Oil prices stabilized on Monday as investors assessed the likelihood of a near-term end to the US government shutdown, amid concerns about oversupply.
Brent crude futures rose 11 cents, or 0
QNA
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Saudi Arabia