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Mumbai, July 21

Reliance Industries has raised its retail price of petrol and diesel by Rs 1.50 per litre each following the rise in international crude prices. Unlike the public sector oil retailers, RIL does not receive government subsidy or oil bonds to part-offset crude oil price increases, and a retail price hike was unavoidable, said an official with the company. The price differential between RIL’s and the PSUs’ retail prices is now Rs 2.50 per litre for both petrol and diesel. —

Our Bureau

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RIL hikes petrol, diesel retail prices

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