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Indian Oil was down 2.55% and was last trading at Rs 202.55 on the National Stock Exchange, while Bharat Petroleum was down 2.63% at Rs 322 and Hindustan Petroleum was down 1.33% in trade.
Oil marketing companies along with ONGC have been a little weak in the last few days of trade, after the government belied expectations of a steeper one time hike in diesel prices.
In fact, diesel price hike is unlikely to happen anytime soon given the fact that a few states are likely to go for election in the next two months.
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