NEW DELHI, JUNE 2:
After a recent steep hike in petrol prices, the consumers have got some respite. The public sector oil marketing companies have cut petrol prices by about Rs 2.02 per litre (retail end in Delhi) with effect from midnight tonight.
The reduction will vary-vary from state-to-state depending on the tax component.
The cut has happened because of softening of petrol prices in the international market. Last week the companies the companies had raised petrol prices by Rs 6.28 a litre (excluding VAT/Sales Tax). This was the steepest hike ever which the country had experience.