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Oil firms hike diesel price by 45p/ litre per month; petrol cut by 25p

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Barely hours after the government permitted oil marketing companies to set diesel prices, the retailers have decided to increase the price of the fuel. Oil companies have increased the price of diesel by 45 paise excluding taxes effective tomorrow, Indian Oil said in an official statement. The good news: Petrol prices, which were only earlier this week hiked by 35 paise, will come down by 25 paise per litre.