HPCL not heard from govt on petrol price hike rollback: Chairman

State-run Hindustan Petroleum Corp Ltd (HPCL) has not heard from the government about potentially rolling back an increase in petrol prices, its head said today.

State-run Hindustan Petroleum Corp Ltd (HPCL) has not heard from the government about potentially rolling back an increase in petrol prices, its head said on Monday.

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It would reduce prices on its own if there was over-recovery on fuel sales, HPCL chairman S Roy Choudhury said to reporters at a press conference.

The oil refining and marketing firm posted a quarterly loss of 33.6 billion rupees last week and raised gasoline prices by 2.7% soon after, in tandem with other state fuel retailers Indian Oil Corp and Bharat Petroleum Corp.