Hyderabad: Fuel prices in the city continue to rise. On Saturday, petrol and diesel prices in the city were hiked by 14 paise and 17 paise a litre respectively.
After being hiked more than 10 times in the month of October alone, the fuel prices as on Saturday were Rs 109.51 per litre petrol and Rs 102.59 per litre diesel. On October 1, the per litre price of petrol and diesel in the city were Rs 106 and Rs 98.39, respectively.
The price hike is a result of an increase in the international benchmark Brent crude, which is currently trading at USD 84.92 per barrel. A month back, Brent was trading at USD 73.51.
“Due to the increase in the international crude oil prices, the dynamic pricing system is back again and fuel prices in the city will likely go up further in the next week,” said G Vinay Kumar, President, Telangana State Petrol Dealers Association.
Vinay Kumar said the international oil prices were volatile and expected to move up due to rising demand and continued supply squeeze. “The customers are not very happy with the price hike. It is likely that the prices might become stable only after a week, however they may not come down,” he added.
Hyderabad: Fuel prices in the last 10 days-
|October 6||Rs 107.09||Rs 99.75|
|October 7||Rs 107.40||Rs 100.13|
|October 8||Rs 107.71||Rs 100.51|
|October 9||Rs 108.02||Rs 100.89|
|October 10||Rs 108.33||Rs 101.27|
|October 11||Rs 108.64||Rs 101.66|
|October 14||Rs 109 Rs||Rs. 102.04|
|October 15||Rs 109.37||Rs 102.42|
|October 16||Rs 109.51||Rs 102.59|
Fuel prices rise in October
|Fuel Price on Oct 1||Price on Oct 16||Difference|
|Petrol Rs. 106||Rs. 109.51||Rs 3.51|
|Diesel Rs 98.39||Rs 102.59||Rs 4.20|