Petrol prices were brought down by around Rs. 2 a litre by state-owned oil marketing companies on Saturday evening, days after the steepest ever hike set off protests across the country.
Effective from Sunday, the reduction — the first in six months — is thanks to falling global crude oil prices.
Oil companies last reduced petrol prices by Rs. 0.78 a litre on December 1 and by Rs. 2.22 a litre on November 16.
In Delhi, petrol will cost Rs. 71.16 after the cut. Once the reduction of value added tax (VAT), promised in the state budget, comes into effect middle of next week, it will go down further by about 92 paise.
VAT has also been cut by Kerala and Uttarakhand. But the cut failed to please either the Opposition or Congress allies, including the DMK and Trinamool.
The unanimous demand was for a complete rollback of the Rs. 7.5 hike made on May 24.
“The cut is not enough,” BJP spokesperson Rajiv Pratap Rudy said, “We want a total rollback.”
Trinamool Congress chief and main UPA ally Mamata Banerjee told HT in Kolkata, “I am not happy as it is still a burden on the common man. There should have been a total rollback."She is also understood to have told the prime minister, who was in Kolkata for the day, as much.
Petrol is cheapest in BJP-ruled Goa, at Rs. 59.51, since VAT has been totally removed.
It’s the costliest in Hyderabad — at Rs. 79.17— because of steep taxes.