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After Mumbai, Hyderabad sees petrol touch ₹100/litre after price hike

Scene at a petrol station in Hyderabad. File Photo   | Photo Credit: G. Ramakrishna

Hyderabad on Monday became the second metro city in the country to see petrol price crossing ₹100 per litre mark after fuel prices were raised yet again.

Petrol price was hiked by 29 paise per litre and diesel by 30 paise, according to a price notification of state-owned fuel retailers.

The hike — 24th in six weeks — pushed fuel prices across the country to new historic highs.

In Delhi, petrol hit an all-time high of ₹96.41 a litre, while diesel is now priced at ₹87.28 per litre. Fuel prices differ from State to State depending on the incidence of local taxes such as VAT and freight charges.

And because of this, petrol retails at over ₹100 per litre mark in seven States and Union Territories — Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka and Ladakh.

While several districts of Telangana saw petrol hitting ₹100 mark earlier this month, State capital Hyderabad reached the mark on Monday. Petrol in the city is now priced at ₹100.20 per litre and diesel at ₹95.14.

 

Hyderabad is the second metro city to see ₹100 per litre petrol price. Mumbai on May 29 became the first metro in the country where petrol was being sold at over ₹100 a litre. Petrol now costs ₹102.58 a litre in the city and diesel comes for ₹94.70.

Sri Ganganagar district of Rajasthan near the India-Pakistan border was the first place in the country to see petrol hitting ₹100 a litre mark in mid-February and on Saturday it also earned the distinction of diesel crossing that psychological mark.

Petrol in the city is sold at ₹107.53 a litre - the highest rate in the country, and diesel comes for ₹100.37. Premium or additive laced petrol in the town sells for ₹110.81 a litre and same grade diesel at ₹104.03.

Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.

The hike on Monday was the 24th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during Assembly elections in States like West Bengal.

In 24 increases, petrol price has risen by ₹6.01 per litre and diesel by ₹6.55 a litre.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.

International oil prices have firmed in recent weeks in anticipation of demand recovery following the rollout of vaccination programme by various countries.


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Printable version | Aug 1, 2021 6:47:43 AM | https://www.thehindu.com/news/national/after-mumbai-hyderabad-sees-petrol-touch-100litre-after-price-hike/article34813449.ece

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