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Effective from May 17, the prices of petrol and diesel have been reduced by Rs 2.16 and Rs 2.10 respectively. The final prices vary state-wise, and the reduction doesn’t include local taxes.

Indian Oil Corporation (IOC), in a statement regarding the drop in fuel prices, said, “The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision.”