Fuel price hike: Petrol Rs 77.26, diesel Rs 71.02 in Telangana

Hyderabad: Oil companies have increased fuel prices across the country from Jun 12.Petrol will be dearer by 57 paisa per liter, while diesel price has gone up by 59 paisa per liter.

Mr. G. Vinay Kumar - former General Secretary of Telangana Petrol bunk association told Newsmeter, " On June 6th, the petrol price was Rs 73.82 and diesel Rs 67.68. However four days later the prices are spike. The current price of Petrol in Telangana is Rs 77.26 an diesel Rs 71.02. The increase in price is a result of spike in cost of barrel".

With this, the cost of petrol has gone up by Rs 3.31 in the past six days, while diesel has become dearer by Rs 3.42. The price of petrol in Hyderabad has reached Rs 77.41 per liter. Petrol is sold at 74.57 per liter in Delhi while in Mumbai it sells at Rs 81.53 per liter.

The price of diesel in Hyderabad has reached Rs 71.16 per liter. Diesel in Delhi is sold at Rs 72.81 per liter, while it sells at Rs 71.48 per liter in Mumbai.

With Central government easing restrictions on the COVID-19 lockdown from June 8, the demand for fuel has increased across the country.

Earlier on June 10, the Indian Oil Corporation (IOC) said that it has boosted the run rates of the refinery to around 83 percent of their capacity following the increase in demand. It stated that the fuel demand has doubled after the lifting of lockdown.

Oil prices in the international market witnessed a sharp drop in March and April due to lockdown. With the partial lifting of lockdown, there may be a revision in the fuel prices in the days to come