State run Hindustan Petroleum Corp Ltd has said it has not heard from the government about potentially rolling back an increase in petrol prices.

Mr S Roy Choudhury chairman of HPCL at a press conference said that it would reduce prices on its own if there was over-recovery on fuel sales.

The oil refining and marketing firm posted a quarterly loss of INR 33.6 billion last week and raised petrol prices by 2.7% soon after, in tandem with other state fuel retailers Indian Oil Corp and Bharat Petroleum Corp.

(Sourced from Reuters)