Hyderabad: The incremental growth in fuel prices continued with petrol prices hiked five times and the diesel prices increasing four times, in the last ten days in the city. Since July 6, the petrol and diesel prices in the city have increased by Rs 1.74 and Rs 0.56 respectively.
As on July 16, the petrol prices in the city was Rs 105.52 per litre whereas diesel was priced at Rs 97.96 per litre. At the start of the month, petrol and diesel prices in the city were Rs 102.69 and Rs 97.20 respectively.
The fuel prices have been increasing constantly since May and touched Rs 100.20 per litre in Hyderabad on June 14.
Vinay Kumar, President of Telangana State Petrol Association, says, “People who have to commute daily for work are not too happy with the hike. In fact this continuous increase in the fuel prices has affected the monthly budget of the citizens severely. We are expecting that the government will now correct the prices. While the petrol prices may go up a little, diesel prices might decrease by at least Re 1 before the month ends.”
The key factors that influence the fuel prices are the global price of crude oil and the currency value of the rupee against the US dollar. Apart from these, the import cost, entrance duty, refining costs, logistics for fuel producers also affect the pricing.