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June 16, 2002 | 1700 IST 		Feedback  
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Indian oil retailers raise prices

India's oil retailing firms raised the cost of petrol and diesel this weekend for the first time outside a newly dismantled government price mechanism, officials said.

The price rise, about 0.25 rupee per litre or 0.80 percent, follows a heftier increase of 9.5 percent two weeks ago, which was announced by the government.

"From now on, oil companies can revise prices every two weeks," a government official told Reuters on Sunday.

The oil ministry could hold the prices down because all the petrol stations in India are currently run by state-run firms -- Indian Oil Corp, Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd.

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