Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fd0fb6b15e1-trace').style.display = (document.getElementById('cakeErr67fd0fb6b15e1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fd0fb6b15e1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fd0fb6b15e1-code').style.display = (document.getElementById('cakeErr67fd0fb6b15e1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fd0fb6b15e1-context').style.display = (document.getElementById('cakeErr67fd0fb6b15e1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fd0fb6b15e1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
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		&#039;title&#039; =&gt; &#039;Petrol price down Rs 2 a litre, another Re 0.92 cut next week&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
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-The Times of India
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&lt;br /&gt;
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&lt;div style=&quot;text-align: justify&quot;&gt;
State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
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&lt;br /&gt;
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&lt;div style=&quot;text-align: justify&quot;&gt;
In other states, the extent of decline would vary by a few paise due to different tax rates.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Small mercy&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Chennai cut by Rs 2.13 to Rs 75.40 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
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State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Times of India&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In other states, the extent of decline would vary by a few paise due to different tax rates.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Small mercy&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Mumbai price cut by Rs 2.12 to Rs 76.45 per litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Kolkata cut from Rs 77.88 to Rs 75.81 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Chennai cut by Rs 2.13 to Rs 75.40 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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	&#039;title&#039; =&gt; &#039;Petrol price down Rs 2 a litre, another Re 0.92 cut next week&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
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-The Times of India
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In other states, the extent of decline would vary by a few paise due to different tax rates.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Small mercy&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Chennai cut by Rs 2.13 to Rs 75.40 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Times of India&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In other states, the extent of decline would vary by a few paise due to different tax rates.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Small mercy&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Mumbai price cut by Rs 2.12 to Rs 76.45 per litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Kolkata cut from Rs 77.88 to Rs 75.81 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Chennai cut by Rs 2.13 to Rs 75.40 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional..."/>
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                <strong>Petrol price down Rs 2 a litre, another Re 0.92 cut next week</strong></h1>
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                <div style="text-align: justify">-The Times of India</div><div style="text-align: justify"><br /></div><div style="text-align: justify">State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In other states, the extent of decline would vary by a few paise due to different tax rates.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &mdash; trade name for petrol.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a &quot;commercial and economic decision&quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Small mercy</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Mumbai price cut by Rs 2.12 to Rs 76.45 per litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Kolkata cut from Rs 77.88 to Rs 75.81 a litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chennai cut by Rs 2.13 to Rs 75.40 a litre</div><div style="text-align: justify"><br /></div>               </font>
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-The Times of India
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&lt;br /&gt;
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&lt;div style=&quot;text-align: justify&quot;&gt;
State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
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In other states, the extent of decline would vary by a few paise due to different tax rates.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Small mercy&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Chennai cut by Rs 2.13 to Rs 75.40 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Times of India, 3 June, 2012, http://timesofindia.indiatimes.com/india/Petrol-price-down-Rs-2-a-litre-another-Re-0-92-cut-next-week/articleshow/13749090.cms&#039;,
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	&#039;articleid&#039; =&gt; (int) 15333,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Petrol price down Rs 2 a litre, another Re 0.92 cut next week&#039;,
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Times of India&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In other states, the extent of decline would vary by a few paise due to different tax rates.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Small mercy&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Mumbai price cut by Rs 2.12 to Rs 76.45 per litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Kolkata cut from Rs 77.88 to Rs 75.81 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Chennai cut by Rs 2.13 to Rs 75.40 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
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	&#039;id&#039; =&gt; (int) 15333,
	&#039;title&#039; =&gt; &#039;Petrol price down Rs 2 a litre, another Re 0.92 cut next week&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
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-The Times of India
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In other states, the extent of decline would vary by a few paise due to different tax rates.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Small mercy&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Chennai cut by Rs 2.13 to Rs 75.40 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Times of India, 3 June, 2012, http://timesofindia.indiatimes.com/india/Petrol-price-down-Rs-2-a-litre-another-Re-0-92-cut-next-week/articleshow/13749090.cms&#039;,
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Times of India&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In other states, the extent of decline would vary by a few paise due to different tax rates.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Small mercy&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Mumbai price cut by Rs 2.12 to Rs 76.45 per litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Kolkata cut from Rs 77.88 to Rs 75.81 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Chennai cut by Rs 2.13 to Rs 75.40 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;
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Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/petrol-price-down-rs-2-a-litre-another-re-0-92-cut-next-week-15458.html"/>
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional..."/>
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                <strong>Petrol price down Rs 2 a litre, another Re 0.92 cut next week</strong></h1>
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                <div style="text-align: justify">-The Times of India</div><div style="text-align: justify"><br /></div><div style="text-align: justify">State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In other states, the extent of decline would vary by a few paise due to different tax rates.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &mdash; trade name for petrol.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a &quot;commercial and economic decision&quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Small mercy</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Mumbai price cut by Rs 2.12 to Rs 76.45 per litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Kolkata cut from Rs 77.88 to Rs 75.81 a litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chennai cut by Rs 2.13 to Rs 75.40 a litre</div><div style="text-align: justify"><br /></div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fd0fb6b15e1-trace').style.display = (document.getElementById('cakeErr67fd0fb6b15e1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fd0fb6b15e1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fd0fb6b15e1-code').style.display = (document.getElementById('cakeErr67fd0fb6b15e1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fd0fb6b15e1-context').style.display = (document.getElementById('cakeErr67fd0fb6b15e1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fd0fb6b15e1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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-The Times of India
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&lt;br /&gt;
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State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
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In other states, the extent of decline would vary by a few paise due to different tax rates.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
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Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.
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The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.
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&lt;br /&gt;
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That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.
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&lt;br /&gt;
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&lt;div style=&quot;text-align: justify&quot;&gt;
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
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&lt;br /&gt;
&lt;/div&gt;
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But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
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Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Small mercy&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Chennai cut by Rs 2.13 to Rs 75.40 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Times of India&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In other states, the extent of decline would vary by a few paise due to different tax rates.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Small mercy&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Mumbai price cut by Rs 2.12 to Rs 76.45 per litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Kolkata cut from Rs 77.88 to Rs 75.81 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Chennai cut by Rs 2.13 to Rs 75.40 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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	&#039;id&#039; =&gt; (int) 15333,
	&#039;title&#039; =&gt; &#039;Petrol price down Rs 2 a litre, another Re 0.92 cut next week&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
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-The Times of India
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In other states, the extent of decline would vary by a few paise due to different tax rates.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Small mercy&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Chennai cut by Rs 2.13 to Rs 75.40 a litre
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Times of India, 3 June, 2012, http://timesofindia.indiatimes.com/india/Petrol-price-down-Rs-2-a-litre-another-Re-0-92-cut-next-week/articleshow/13749090.cms&#039;,
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Times of India&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In other states, the extent of decline would vary by a few paise due to different tax rates.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee&#039;s fall and rise in international oil prices in the first fortnight of May.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &amp;mdash; trade name for petrol.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee&#039;s exchange rate against the dollar.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government&#039;s capitulation to opposition pressure.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Sources said the oil marketers were to give a few days&#039; gap before reducing the price to avoid giving a political colour to a &amp;quot;commercial and economic decision&amp;quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee&#039;s continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Small mercy&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Mumbai price cut by Rs 2.12 to Rs 76.45 per litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Kolkata cut from Rs 77.88 to Rs 75.81 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Chennai cut by Rs 2.13 to Rs 75.40 a litre&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional..."/>
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                <strong>Petrol price down Rs 2 a litre, another Re 0.92 cut next week</strong></h1>
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                <div style="text-align: justify">-The Times of India</div><div style="text-align: justify"><br /></div><div style="text-align: justify">State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In other states, the extent of decline would vary by a few paise due to different tax rates.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &mdash; trade name for petrol.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a &quot;commercial and economic decision&quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Small mercy</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Mumbai price cut by Rs 2.12 to Rs 76.45 per litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Kolkata cut from Rs 77.88 to Rs 75.81 a litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chennai cut by Rs 2.13 to Rs 75.40 a litre</div><div style="text-align: justify"><br /></div>               </font>
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-The Times of India
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
In other states, the extent of decline would vary by a few paise due to different tax rates.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &mdash; trade name for petrol.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a &quot;commercial and economic decision&quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
<em>Small mercy</em>
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Chennai cut by Rs 2.13 to Rs 75.40 a litre
</div>
<div style="text-align: justify">
<br />
</div>',
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...',
	'disp' => '<div style="text-align: justify">-The Times of India</div><div style="text-align: justify"><br /></div><div style="text-align: justify">State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In other states, the extent of decline would vary by a few paise due to different tax rates.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &mdash; trade name for petrol.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a &quot;commercial and economic decision&quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Small mercy</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Mumbai price cut by Rs 2.12 to Rs 76.45 per litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Kolkata cut from Rs 77.88 to Rs 75.81 a litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chennai cut by Rs 2.13 to Rs 75.40 a litre</div><div style="text-align: justify"><br /></div>',
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	'id' => (int) 15333,
	'title' => 'Petrol price down Rs 2 a litre, another Re 0.92 cut next week',
	'subheading' => '',
	'description' => '<div style="text-align: justify">
-The Times of India
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
In other states, the extent of decline would vary by a few paise due to different tax rates.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &mdash; trade name for petrol.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a &quot;commercial and economic decision&quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
<em>Small mercy</em>
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Mumbai price cut by Rs 2.12 to Rs 76.45 per litre
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Kolkata cut from Rs 77.88 to Rs 75.81 a litre
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Chennai cut by Rs 2.13 to Rs 75.40 a litre
</div>
<div style="text-align: justify">
<br />
</div>',
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-The Times of India





State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional...'
$disp = '<div style="text-align: justify">-The Times of India</div><div style="text-align: justify"><br /></div><div style="text-align: justify">State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT).</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In other states, the extent of decline would vary by a few paise due to different tax rates.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline &mdash; trade name for petrol.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a &quot;commercial and economic decision&quot;. But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Small mercy</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Mumbai price cut by Rs 2.12 to Rs 76.45 per litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Kolkata cut from Rs 77.88 to Rs 75.81 a litre</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chennai cut by Rs 2.13 to Rs 75.40 a litre</div><div style="text-align: justify"><br /></div>'
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Petrol price down Rs 2 a litre, another Re 0.92 cut next week

-The Times of India State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT). In other states, the extent of decline would vary by a few paise due to different tax rates. Compared to May 23, in Delhi, the increase would be of the order of 4.60 a litre (after incorporating the VAT impact) as against Rs 7.54 when the hike was announced last week. The announcement of a cut comes two days after the May 31 nationwide strike observed by the opposition to protest against the steepest-ever increase in petrol price on May 24. Petrol price was jacked up by state fuel retailers by Rs 6.28 per litre, excluding taxes, or about 11%, citing the rupee's fall and rise in international oil prices in the first fortnight of May. The move predictably sparked howls of protest from parties across political spectrum, including the Congress. Soon thereafter, the heads of oil marketing companies and the government held out hope of a cut on June 1, citing emerging price trends in Singapore bulk market for crude and gasoline — trade name for petrol. That cut should have been announced on June 1 since oil marketers review prices on the 15th and last day of each month. The pump price of petrol is arrived at by calculating the average Singapore price of gasoline in the preceding fortnight and the rupee's exchange rate against the dollar. Since the May 24 increase in the rate of petrol, gasoline price declined to $115.77 per barrel in the second fortnight of May from $124.37 in the first fortnight. Crude too declined to $106 a barrel in the second fortnight from $116 in the preceding period. But the government asked the oil marketers to hold their horses with the aim of preventing the opposition from taking credit. A reduction from June 1, a day after the nationwide strike, could have been interpreted as the government's capitulation to opposition pressure. Sources said the oil marketers were to give a few days' gap before reducing the price to avoid giving a political colour to a "commercial and economic decision". But the government suddenly decided to give the green signal on Saturday after it dawned that the rupee's continued fall against the dollar may not leave much room for a substantial reduction in the coming week, first reported by TOI on May 31. The oil companies found that their average exchange rate continued to worsen as it declined to Rs 54.96 to a dollar in the second fortnight from Rs 53.17 in the first fortnight. Fuel prices need to be raised by 77 paise if the exchange rate falls by a rupee, while each dollar rise in crude price requires street prices to be raised by 33 paise. No wonder, the first reduction in six months failed to impress the main opposition BJP. Party president Nitin Gadkari said they would continue to agitate on the streets till petrol price was brought back to the May 24 level. The oil marketers had last reduced rates by Rs 0.78 per litre on December 1 and by Rs 2.22 a litre on November 16. The reductions followed Rs 1.80 per litre increase from November 4. Small mercy Delhi price cut from Rs 73.18 to Rs 71.16, will fall to Rs 70.24 next week after VAT reduction Mumbai price cut by Rs 2.12 to Rs 76.45 per litre Kolkata cut from Rs 77.88 to Rs 75.81 a litre Chennai cut by Rs 2.13 to Rs 75.40 a litre