Petrol price set to breach ₹100-mark in Hyderabad

Petrol prices have gone beyond the ₹100-mark in places such as Adilabad, and a similar trend is expected in Hyderabad soon.

At the moment, the price of petrol in Hyderabad is ₹99.90 per litre. According to industry experts, with the daily price revision, the price per litre is expected to cross the ₹100 mark in a day or two.

According to Rajiv Amaram, joint secretary of Consortium of Petroleum Dealers, who has been tracking fuel prices since 1995, the price per litre of diesel and petrol in Hyderabad on June 1 was ₹93.08 and ₹98.20 respectively. The price per litre gradually climbed up to ₹94.82 and ₹99.90, respectively. This means that from June 1 to June 12, the price per litre of diesel and petrol increase by around ₹1.70 each. From May 12 to June 12, the difference in price per litre for diesel and petrol has been ₹4.76 and ₹4.23 respectively.

While the base price of petrol on June 4 was approximately ₹35.70 per litre, the consumer ended up paying much more by way of charges and taxes, which include freight, excise duty, value added tax levied by the State, charges of oil companies and dealer commission.

“There has been an increase in the petrol prices since 1995 by nearly 250%. The prices are not uniform in all districts. This is dependent on transport charges from refinery to depots of oil companies,” Mr Amaram said.

Telangana Petroleum Dealers Association president Amarender Reddy said with the daily revision in fuel prices, it is only a matter of time that petrol prices will touch ₹100 in Hyderabad. “As on today (June 12), price of petrol per litre in Greater Hyderabad Municipal Corporation limits has not crossed ₹100. But we can say that it will reach the number in a day or two,” he said.

It has been a long-standing demand of trade unions such as the Telangana Road Transport Corporation Employees Union and the Telangana Mazdoor Union that the losses on account of frequent price increase of fuel be ameliorated by bringing diesel under the Goods and Service Tax.

The Telangana Lorry Owners Association, an affiliate of All India Motor Transport Congress, and South Indian Motor Transport Association, opined that the Telangana government should take measure to mitigate losses which transporters have incurred. “We have been saying that diesel should be brought under GST. This would bring about uniformity. The only thing we could do is ask that the government waive off Motor Vehicle Tax which is paid quarterly, and in advance,” he said.

Khursheed Ali from the Hyderabad Secunderabad Bus Owners Association also said that the organisation has sought tax exemptions. “We are private bus owners and depend on tours and marriages, etc. There is no business at all because of the lockdown. Diesel prices will affect us when we run buses. We are hoping to get tax exemptions,” he said.

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Printable version | Aug 4, 2021 10:41:40 PM | https://www.thehindu.com/news/cities/Hyderabad/petrol-price-set-to-breach-100-mark-in-hyderabad/article34799375.ece

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