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In the midst of falling crude prices, petroleum marketing companies cut the prices of petrol and diesel by more than 2 rupees. While petrol now costs less than 2.69 rupees, diesel has seen its reduction by 2.33 rupees. So now in Delhi you will only have to pay Rs 70.29 for petrol and Rs 63.01 for diesel. For India, which imports more than 84% of its oil needs, the crisis would lead to a drop in the import bill and a drop in retail prices.