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A fall in the India crude basket in rupee terms helps to push prices lower at the retail by the oil marketing companies, namely HPCL, BPCL and IOC.
One reason why the crude oil of the Indian basket has fallen in rupee terms is the sharp appreciation in the rupee.
The rupee has gained from levels of 62 on Feb 27 to the current level of 59.91 against the dollar.
This has translated in gains for the India crude basket which could mean lower prices at the petrol pumps. Check rupee rates here
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