Thursday, October 21, 2021
HyderabadFuel prices reach all-time high in Hyderabad

Fuel prices reach all-time high in Hyderabad

Published: 6th Feb 2021 12:04 am

Hyderabad: The upward trend of fuel prices continues and touched the highest-ever in Hyderabad. On Friday, petrol was priced at Rs 90.42 per litre and diesel at Rs 84.14 per litre respectively. Following the daily revision of fuel prices, petrol price increased by 65 paise per litre while the price of diesel rose by 68 paise, across all fuel outlets in the last two days.

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According to Telangana Petroleum Dealers Association, for the first time in Hyderabad, the petrol price has crossed Rs 90 mark and diesel price shot up to Rs 84 per litre. The fuel pricing, dealers pointed out, was going up steadily and slipping beyond the common man’s reach.

Rajeev Amaram, Joint Secretary (South), Consortium of Indian Petroleum Dealer, said that the government can reduce excise duties to make fuel affordable and cheaper for the public. “Though fuel prices have reached an all-time high in Hyderabad, there may not be much hike in the coming days,” he said.

Local dealers said that fuel was cheaper during the lockdown when there was no vehicular movement. However, the prices increased with the return of normal life in the unlock phase. Since last November, fuel prices were registering an almost steady rise though albeit in small increments. In the last three months, the petrol price went up by Rs 6.17 a litre i.e., from Rs 84.25 on November 19 to Rs 90.42 a litre on February 5, while diesel price shot up from 76.84 to Rs 84.14 a litre during the same period.

The difference in the prices of petrol and diesel have been narrowing over the last few months and at present rates, the difference is found to be just Rs 6.2 per litre. Fuel prices are based on a dynamic pricing system that the Central government brought into force in 2017. As per this, retail prices of fuel depends on the global crude prices wherein oil marketing companies review domestic rates of petrol and diesel daily and implement changes with effect from 6 am.

 


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