Congress president Rahul Gandhi on Wednesday slammed the one paisa cut in fuel prices, saying if this was Prime Minister Narendra Modi's idea of a "prank", it was "childish and in poor taste".

Petrol and diesel prices were today cut by one paisa per litre each, the first reduction after 16 days of relentless price hikes.

Gandhi said the one paisa cut in petrol rates was not a "suitable response" to the fuel challenge he threw to the prime minister a few days ago.

"Dear PM, You've cut the price of Petrol and Diesel today by 1 paisa. ONE paisa!?? If this is your idea of a prank, it’s childish and in poor taste," Gandhi tweeted.

"P.S. A ONE paisa cut is not a suitable response to the 'Fuel Challenge' I threw you last week," he said.

The marginal decline in the fuel prices had its share of excitement with state-owned Indian Oil Corp (IOC) first announcing a reduction of 60 paise -- the biggest since daily price revision was introduced in mid-June last year, only to retract it within a couple of hours citing a technical error.

The oil companies this morning announced reduction in petrol price by 60 paise to Rs 77.83 a litre and diesel by 56 paise to Rs 68.75 in Delhi. This was rectified to 1 paisa a litre.

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Fuel price cut revised to just 1 paisa