Which among the following decides the oil prices in India?
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oil companies decides the oil prices in India
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Decisions made regarding the oil prices in India is carried out by organizations such as ONGC (Oil and Natural Gas Corporation), Indian Oil Corporation etc. These prices are generally based on the prices of crude oil prices. Variations in the economic growth of the Indian or the Chinese oil markets tend to make the traders revise their projections. The traders must be quick enough to formulate decisions in order to be adapted to the changing market trends.
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