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Fuel retailers review petrol and diesel prices every fortnight and make adjustments based on the global rates of the products.
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Since last price change, there has been a decrease in international prices of both petrol and diesel, exchange rate depreciated.
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“Combined impact of these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease,” Indian Oil Corp, the nation’s largest fuel retailer said.
Source: ET
