No immediate rollback: Govt

NEW DELHI, May 25: Ruling out any immediate rollback in the steep Rs 7.54 a litre hike in petrol prices, the Government today said it will watch international oil prices and rupee-dollar rate for "a few days" before taking any decision on cutting rates.Amid growing street protests and unease within his own party, Oil Minister S Jaipal Reddy came out to defend the third price increase in a year and the first in almost seven months, saying the oil companies had exhausted all options.Breaking his silence over the hike announced by oil companies on Wednesday, Reddy said: "All political parties including my own party (Congress) are populist... (but) we cannot run the country on populist sentiments".