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State-run Indian Oil Corp (IOC) has reduced the price of petrol by Rs 2.16 per liter and that of diesel by Rs 2.10 a liter excluding state levies.
According to IOC, the current level of international prices of petrol, diesel and the Indian rupee-US dollar exchange rate warranted a decrease in selling price.
"The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," the IOC said in a statement late on Monday.
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