A 1 paisa cut in the price in one day is nothing but making a mockery out of the common man who is bogged down by the prices increase.
Petrol price in Delhi was cut by 60 paise to ₹77.83 a litre. In Delhi, VAT on petrol is Rs 15.84 and Rs 9.68 a litre on diesel. "Since we moved to the mechanism of daily price change, prices have gone up and down by 1 paisa, 12 paise, 27 paise etc".
"The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today's price", a senior official of Indian Oil Corp (IOC), the nation's largest fuel retailer, explained.
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Potato farmers in Uttar Pradesh's Moradabad are incurring losses as they are not able to sell off their produce due to hike in petrol and diesel rates which is leading to increase in transportation prices. "All this will reflect in reduction in retail rates in coming days", he said.
Delhi has the cheapest price among all metros and most state capitals.
In the past few days, petrol prices have increased across the country by over Rs 4 per litre.