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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 | 63.02 | 0.32 | 0.51 |
| WTI | 58.81 | 0.4 | 0.68 |
| OPEC Basket | 58.76 | 0.25 | 0.43 |
16/01/2026
Oil prices retreated from multi-month highs on Thursday and gold eased from a record peak after US President Donald Trump calmed market anxiety over potential US military action against Iran.
Asharq Al Awsat
11/01/2026
Iraq's oil minister said on Saturday that talks were ?ongoing ?with ?US ?major Chevron regarding ?the Lukoil-operated West Qurna-2 field, the Russian company's ?largest foreign ?asset.
Chevr
Asharq Al Awsat
11/01/2026
Oil prices steadied on Friday as concerns about potential disruption to Iran's output were offset by expectations of increased supply from Venezuela.
Brent futures gained 18 cents, or 0.3 pe
Reuters
09/01/2026
The price of Kuwaiti oil went down by USD 1.09 to reach USD 57.05 per barrel on Wednesday, compared to USD 58.14 on Tuesday, the Kuwait Petroleum Corporation (KPC) reported.
In global market
The Peninsula
09/01/2026
Oil prices are drifting lower with a stubborn sense of inevitability, weighed down by swelling supply and an unconvincing geopolitical risk premium, even after the shock of a US strike in Venezuela.
Khaleej Times
Financial Information Co.
Saudi Arabia