Petrol up by Rs 5, diesel by Rs 3 at private outlets in Telangana

Private fuel retailers Jio-BP and Nayara Energy have increased petrol and diesel prices in Telangana, citing rising global crude and refined product costs. While private outlets have passed on the burden to consumers ahead of the festive season, state-run oil marketing companies have so far maintained existing rates, though speculation persists about a post-Diwali revision.

Hyderabad: This festive season, motorists will have to shell out more for fuel as private oil companies have hiked petrol and diesel prices in the State. Both the Jio-BP and Nayara Energy have increased the price of a litre petrol by Rs. 5 and diesel by Rs.3.

With this increase, a litre of petrol costs Rs. 120.71 and diesel Rs. 106.84 at Jio-BP fuel stations across the State. However, fuel costs a bit more at Nayara Energy fuel pumps, with a litre of petrol being sold at Rs.121.02. A litre of diesel costs Rs.106.83.

One of the main reasons for the hike in fuel prices is attributed to escalating global crude and refined product costs. A barrel of Brent crude has surged to $106.18. Initially, Nayara Energy hiked prices across its 7,000 outlets in the country and passed on the burden to consumers, followed by Jio-BP in its 2,300 outlets.

However, Public Sector Undertaking (PSU) oil marketing companies, including Indian Oil Corporation, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, have not yet passed on the escalating fuel charges onto consumers. Presently, a litre of petrol is being sold at Rs.116.15 and diesel at Rs.104.23 in Hyderabad.

However, speculations are rife that the PSU oil marketing companies may follow the private oil companies in hiking the fuel prices post Diwali.

Speaking to ‘Telangana Today’, Consortium of Indian Petroleum Dealers Southern region Joint Secretary, Rajiv Amaram said PSU oil marketing companies sometimes either absorb the additional cost or pass it on to the consumers. 

“However, so far, we have not received information or hints of fuel price hike from oil marketing companies,” he added.