After continuous hike in fuel price for 16 consecutive days, there is 'a drop' in the rates- of one paisa.
"There was a technical glitch in posting the selling prices of petrol and diesel on our website today. The selling prices of petrol and diesel w.e.f 30th May 2018 have been rectified on our website. Today, there is a minor reduction in fuel prices," IOCL clarified in a statement.
The current petrol price is Rs 78.42 per litre in Delhi and Rs 86.23 for a litre in Mumbai. In Kolkata, the revised rate is Rs 71.85 and in Chennai it's Rs 73.17. Prices vary from state to state depending on factors like local sales tax or VAT.
As the cheer over a cut of 60 paisa was snapped with a clarification by the IOCL, residents did not find the goof-up amusing.
"They are just making fun of the people. After increasing the price for 16 days, they just slashed it by one paisa. What happened to the promises made by the prime minister in 2014, while campaigning for general election?," questioned an angry resident of Delhi.
A resident of Mumbai called the rising price a tool to cheat people. "What will happen by one paisa? If the government wants it can reduce the price, but it's not doing anything. The hike in fuel price affects the price of other commodities as well. How are we going to manage our expenditure?," he said.
The continuous increase in fuel price has burn a hole in people's pocket.
Petroleum and Natural Gas Minister Dharmendra Pradhan on Monday attributed the rising price to the increase in the cost of crude oil in the international market and the rupee-dollar exchange rate.
"Crude oil prices in international markets are beyond our control. We are making a long-term plan in this regard," Pradhan said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)