Fuel price hike: Petrol price reaches Rs. 81, diesel Rs. 75 in Hyderabad

Hyderabad: Fuel prices across India have been increased for the 13th consecutive day. On 19 June, the petrol price in the country was increased by 56 paise while the diesel rates went up by 63 paise.

The price of petrol in India has seen a cumulative increase of over Rs. 7 per litre since 7 June while diesel rates have been hiked by over Rs. 7 per litre. According to Mr. G. Vinay Kumar, the former general secretary of the Telangana petrol bunk association, the price hikes will likely continue in the coming days. “The oil companies hiked the fuel prices from 7 June, after the lockdown restrictions were lifted. Fuel rates were revised after nearly 80 days due to the COVID-19 pandemic. More price hikes can be expected in the coming days,” he said.

On 7 June, the petrol price in Hyderabad was Rs. 74.45 per litre. It is now Rs. 81.20. The price of diesel was Rs. 68.27 per litre on 9 June and it is now Rs. 75.17.

In cities like Chennai, Bengaluru, Hyderabad, and Patna people are paying over Rs. 80 for a litre of petrol. Jaipur showed the highest retail price for petrol at Rs. 85.58 per litre. In Delhi, the price of petrol is Rs. 78.37 per litre while the rate for diesel is Rs. 77.06 per litre. In Mumbai the prices of petrol and diesel are Rs. 85.21 and Rs. 74.93, respectively.

The demand for fuel increased across the country after the Central government eased lockdown restrictions on 7 June. On 10 June, the Indian Oil Corporation said it has boosted the run rates of the refinery to around 83 per cent of its capacity following the increase in demand. It said the fuel demand doubled after the lockdown was lifted. Oil prices in the international market had witnessed a sharp drop in March and April due to the lockdown. Consumers can expect more hike in prices in the future, oil companies have said.