Hyderabad: Sustaining an upwardly curve on the pricing charts, fuel prices in the city rose for the sixth straight day on Sunday.
The oil marketing companies increased the petrol prices by 30 paise and diesel by 34 paise per litre on Sunday. With this, a litre of petrol was available at Rs.92.26 while a litre of diesel cost Rs.86.23 here today.
The hike in fuel prices in the city came amid rising crude oil prices in the international markets, the dealers said. Petrol and diesel prices have been rising steadily since January 6 after having remained unchanged for almost a month.
In the last one month, the price of petrol has gone up by Rs 5.20 per litre, while that of diesel went up by Rs 5.63 per litre. During this period, the fuel prices rose steadily from Rs 87.06 per litre to Rs 92.26 per litre, while the price of a litre of diesel on Sunday touched Rs 86.23 per litre from Rs 80.60 per litre.
According to petroleum dealers, fuel prices were turning exorbitant commensurate with prices of crude oil that have been showing an upward trend. “Petrol and diesel prices have already touched all-time high due to international crude prices increase along with high Central and State taxes and a further surge in the pricing cannot be ruled out,” local dealers said.
Fuel prices are based on a dynamic pricing system and as per this, oil marketing companies revise domestic rates of petrol and diesel on day to day basis and implement changes with effect from 6 am.
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