In its 41st hike in 75 days, petrol prices rose by 30 paise per litre on Saturday. The diesel price remained unchanged as it was spared a hike for the third time since July 2 apart from the 16 paise/litre reduction seen on July 12, the first since May 4. Surging international oil rates and the high domestic tax structure are two key reasons for steep rates of petrol and diesel in Indian cities.
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