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Is a proxy regulation at work in petrol pricing?

PUBLISHED ON: February 22, 2011 | Duration: 2 min, 52 sec

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As a result of Libyan crisis, the price of the Indian crude basket has crossed a psychological benchmark of more than $100 a barrel. But the government can’t ill afford another hike given the budget session has just begun. So while officially claiming they don't control petrol prices, unofficially they have told oil companies not to hike prices, till tensions subside in the Middle East.
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