Petroleum Minister S. Jaipal Reddy said on Tuesday that if global crude oil prices continue to slip further, petrol price would be lowered.

"If the prices globally come down sharply and in a stable w

Union finance minister Pranab Mukherjee on Sunday said the government had no role to play in the latest petrol price hike as the prices had been deregulated but virtually stood by the oil marketing companies’ decision, saying the crude rates have gone up by $42 per barrel in the last 11 months. "

Opposition parties in Andhra Pradesh held protests across the state on Sunday to demand a rollback of the hike in petrol prices.