The rising cost of petrol and diesel has increased pressure on the government to reduce taxes on fuel prices in order to rein in their prices. The price of petrol has risen above the 100 rupee mark in major cities across the country. The government has blamed rising international crude oil prices for the rise in domestic fuel prices. India imports more than 80% of its oil supplies and the price of crude oil in the international market does have a significant impact on domestic fuel prices. (Read More)
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