Hyderabad records highest petrol and diesel prices among metro cities
Hyderabad has become the costliest metro city in the country for petrol and diesel after the latest fuel price hike by oil marketing companies. High VAT imposed by the Telangana government has significantly contributed to the steep fuel rates compared to other major cities
Hyderabad: Hyderabad has emerged as the costliest among major metro cities in the country for motor vehicle users to fill petrol and diesel tanks. After a hike of Rs 3 per litre by the oil marketing companies on Friday, petrol and diesel prices in the city touched a new high.
A litre of petrol in Hyderabad will now cost Rs 110.78, while a litre of diesel will cost Rs 98.90. The revised prices come after a hike of Rs 3.39 per litre on petrol and Rs 3.26 per litre on diesel in Hyderabad, which is the highest price hike in the country.
In the national capital, petrol prices were hiked to Rs 97.77 per litre from Rs 94.7, while diesel now costs Rs 90.67 as against Rs 87.67 per litre earlier. Similarly, a litre of petrol and diesel in Mumbai costs Rs 106.68 and Rs 93.14 respectively.
Further, in Kolkata, petrol now costs Rs 108.74 per litre and diesel Rs 95.13 per litre, while in Chennai, prices are Rs 103.67 for a litre of petrol and Rs 95.25 for a litre of diesel. In Bengaluru, petrol is priced at Rs 106 per litre, while diesel costs Rs 94.10 per litre.
One of the main reasons for high petrol and diesel prices in Hyderabad is the high Value Added Tax (VAT). The State government, according to the Ministry of Petroleum and Natural Gas, levies 35.20 per cent VAT on petrol and 27 per cent VAT on diesel, which is the highest among all States in the country. Due to differences in VAT, petrol and diesel rates vary across States.
The oil marketing companies increased prices 16 days after Assembly elections concluded in Assam, Kerala, Tamil Nadu and West Bengal. The decision comes after a four-year pause amid mounting losses suffered by fuel retailers due to surging global crude oil prices following the US-Israel and Iran war.
