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India reduces petrol & diesel prices

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India reduces petrol & diesel prices on Saturday.

The government declared that the National excise duty on petrol and diesel will be reduced by Rs. 8 per liter and Rs. 6 per liter, accordingly.

Rising fuel costs in India have sparked led to a debate about whether the state or central government should decrease taxes to keep prices in line.

The hike in fuel prices in mostly due to an increase in the global price of crude oil. Also, the cost of crude oil has increased due to a stronger currency in play

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