Petrol, Diesel Price Cut: Indian Oil, Other Fuel Retailers Fall Over 20%

Mumbai: Shares in state-owned oil marketing companies slumped more than 20 per cent to multi-year lows on Friday, a day after the government announced a cut in fuel prices that is expected to hit the state and the oil marketers. The price cut sparked fears of the country going back toward the regulated regime where the prices of diesel and petrol were controlled by the government. Petrol prices were regulated until 2012, while diesel...