Petrol was decreased to Rs 109.98 per litre and diesel to Rs 94.14 per litre in Mumbai following a price cut on November 4. These rates have not changed.
The drop in oil prices is excellent news for India, as it would reduce the country's import bill. India is the world's third-largest oil importer.
The Dow Jones Futures were trading 0.23 percent lower at the same moment. On Tuesday, Wall Street's major indices finished considerably higher.
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