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India raises fuel prices

India unexpectedly raised gasoline and diesel prices by as much as 10 per cent on Wednesday, its first increase this year, passing some of oil rally into an economy just beginning to find its feet amid a global recession.

Petrol prices in Delhi rose by Rs 4 a litre, while diesel rates rose by Rs 2 a litre, Oil Minister Murli Deora told reporters after a meeting with Prime Minister Manmohan Singh in New Delhi.