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Previously, petrol prices were cut down to 60 paise in Delhi and 59 paise in Mumbai while diesel price went down by 56 paise in Delhi and 59 paise in Mumbai.

Petrol rates had yesterday touched an all-time high of ₹78.43 per litre, according to a price revision notification of state-owned oil firms.

The revised petrol prices in metropolitan cities are- Delhi: Rs 77.83 per litre; Mumbai: 85.65 per litre; Kolkata: 80.47 per litre and Chennai: 80.80 per litre. The opposition, led by Congress' Rahul Gandhi, seized the opportunity to target the government over the rising fuel prices and the hashtag #EkPaiseKiSarkar began trending on Twitter.

In all, petrol price was increased by Rs 3.8 per litre and diesel by Rs 3.38 in that fortnight. The marginal 1 paisa cut fuelled anger on social media.

OMCs have been revising petrol and diesel prices on a daily basis since last June.

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Prices for petrol and diesel in India have been at an all time high due to the rise in worldwide crude oil prices, and the weakness of the Indian Rupee against the United States dollar. "All this will reflect in reduction in retail rates in coming days", he said.

Kerala charges roughly 32.2% tax on petrol and 25.58% on diesel, among the highest in the country.

State sales tax or VAT vary from state to state.

This comes the day the Centre cut fuel prices after 16 consecutive hikes, but by only one paisa.

Delhi has the cheapest price among all metros and most state capitals.