After rallying for five consecutive days, prices of petrol and diesel were kept unchanged at their record highs on Monday, October 25, 2021. On Sunday, petrol and diesel rates were hiked by 35 paise per litre each in the national capital.

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On Sunday, oil marketing firms raised the price of petrol and diesel for the fifth day in a row and touched an all-time high across the country. Petrol costs Rs 107.59 a litre in Delhi today, while diesel costs Rs 96.32 per litre. The fuel prices are revised daily by Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) in accordance with benchmark worldwide prices and foreign exchange rates.

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Mumbai’s petrol price remains the highest among metro cities, at Rs 113.46 a litre. Diesel costs Rs 104.38 per litre in the country’s financial centre. The pricing difference between Delhi and Mumbai is due to varying local VAT rates in each city. The costs of petrol and diesel are determined by freight expenses, municipal taxes, and VAT. Petrol prices have surpassed Rs 100 per litre in Delhi, Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu & Kashmir, Odisha, Tamil Nadu, Ladakh, and certain Bihar and Punjab cities.

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State-owned fuel retailers have begun passing on the higher incidence of cost to customers beginning October 6, abandoning the moderate price rise strategy.

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The Sensex began higher but quickly lost ground, closing 114.93 points, or 0.19 percent, down at 60,706.69 in early trade. Likewise, the Nifty fell 58.55 points, or 0.32 percent, to 18,056.35. In Asia, bourses in Shanghai, Hong Kong, and Seoul were up in mid-session trade, while Tokyo was down. Meanwhile, Brent crude, the international oil standard, increased 0.79 percent to USD 85.31 per barrel. Rupee falls 13 paise to 75.03 against US dollar in early trade.