A short while ago, Indian Oil Company increased the price of petrol by Rs. 1.82 per litre and the price will be applicable from today mid-night onwards.The effect of this regular increase in the fuel price is already seen in the Indian car market,shows a decline of 2 - 4 % of growth.The car sales during this financial year is expected to be low considering the increasing petrol price and interest rates.Many companies have decided to cut the production of new cars to overcome the crisis.
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