Earlier, PTI had reported, petrol price in Delhi was cut by 60 paise to ₹77.83 a litre. But turns out, even on the back of softening international oil rates and strengthening Indian rupee Rates, the oil prices are more or less the same which had on Tuesday touched an all time high of ₹78.43 per litre, according to a price revision notification of state-owned oil firms.

The reduction, although of just one paisa a litre, comes after 16 consecutive price increases since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates.

In all, petrol price was increased by ₹3.8 per litre and diesel by ₹3.38 in that fortnight.

Prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.