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Following a two-day respite, petrol and diesel prices were raised by 35 paise per liter on Wednesday, driving rates to new highs across the country.

According to a price statement from state-owned fuel retailers, the price of petrol in Delhi has risen to its highest-ever level of Rs 106.19 per liter and Rs 112.11 per liter in Mumbai.

Diesel now costs Rs 102.89 a litre in Mumbai and Rs 94.92 in Delhi.
The rate increase follows two days of no change. Prior to that, prices were raised by 35 paise per litre for four consecutive days.

With this increase, petrol is now at or above Rs 100 a liter in all state capitals, while diesel has reached this level in more than a dozen states. Diesel prices have surpassed Rs 100 per liter in Panaji and Ranchi.

The most expensive fuel is found in the Rajasthan border town of Ganganagar, where petrol costs Rs 118.23 per litre and diesel costs Rs 109.04.

This is the 17th hike in petrol prices and the 20th increase in diesel rates since the end of a three-week respite in rate adjustment in the last week of September.

While most of the country’s petrol prices are already above Rs 100 per litre, diesel prices have surpassed that mark in more than a dozen states/UTs, including Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chhattisgarh, Bihar, Kerala, Karnataka, Jharkhand, Goa, and Ladakh. Prices vary per state, based on the presence of municipal taxes.

For the first time in seven years, international benchmark Brent crude is selling at USD 84.43 per barrel on Wednesday.

Brent was trading at USD 73.92 a month ago.
Because India is a net importer of oil, it charges world prices for gasoline and diesel.

The rise in worldwide oil prices brought an end to a three-week pause in rate revisions on September 28 for gasoline and September 24 for diesel.

Since then, diesel prices have risen by Rs 6.50 per litre, while petrol prices have risen by Rs 5.
Prior to it, the price of petrol was raised by Rs 11.44 per litre between May 4 and July 17. During this time, the price of diesel had risen by Rs 9.14.

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