The minister said, currently the petrol price in India is one of the lowest. He said the oil marketing companies together suffered losses of Rs 27,276 crore due to high prices of crude in international markets.

Six states - West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala, and Jharkhand - have not reduced the VAT, he said amidst vocal protests by the opposition members. The minister said, currently the petrol price in India is one of the lowest.