Monday 20 October 2014
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The government on Saturday fixed new gas price at USD 5.61 per million british thermal unit (MMBTU), increased from USD 4.2 per mmbtu earlier. However, it reduced diesel price by Rs 3.37 per litre following sharp fall in crude oil prices in international markets.. So how are the reforms going to impact the oil marketing companies? In an interview to CNBC-TV18, B Ashok, Chairman, IOC , said the gas price hike will benefit industry and economy as a whole and expects a higher competition going ahead.
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