Petrol and Diesel Prices Stay Steady in Major Cities
Petrol and diesel prices stayed largely stable across major Indian cities on November 4, after the Centre cut the petrol export duty to zero and raised the diesel export levy. Global oil prices moved up and down as traders weighed mixed signals on US-Iran peace talks.
Context
Context: In India, retail fuel prices are set by oil companies, while export duties are taxes on fuel sent abroad. Global crude prices, which react to Middle East tensions, shape the costs that refiners and sellers face.
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