Vinay Kumar, President of Telangana State Petrol Association, shares that the price hike will continue for a couple of weeks
Hyderabad: Petrol and diesel prices on Friday were hiked for the sixth time this month, propelling prices to cross the Rs 100-a-litre-mark in Telangana. Fuel prices were hiked more than 15 times in May. The price of petrol, as on Friday stood at Rs 99.51 per litre, whereas diesel was priced at Rs 94.47 per litre.
On June 1, the petrol and diesel prices in the State were Rs 98.10 and Rs 92.98 respectively. In many districts of Telangana, including Nizamabad, Khammam and parts of Siddipet, the price of petrol already crossed Rs 100 per litre on June 9.
Vinay Kumar, President of Telangana State Petrol Association, shares that the price hike will continue for a couple of weeks. “The companies are increasing prices almost every alternative day. We are expecting the prices to go up again. However, the prices will be revised in the coming week. After a few weeks, it is predicted that the prices will slowly come down again.”
“The pricing of petrol and diesel depends on the value of crude oil in the international market. However there are several variables responsible for the hike,” he added. Fuel prices differ from one State to another depending on the amount of local taxes such as VAT and freight charges that are levied. In several other States, including Maharashtra, Rajasthan and Madhya Pradesh, the per litre petrol price has crossed Rs 100.
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