Hyderabad: Petrol price was hiked by 2 paise per litre and diesel by 54 paise on Wednesday in Telangana, taking the cumulative increase in the rate in 18 days to Rs 8.97 a litre and Rs 9.92 respectively. Petrol price in Telangana has increased to Rs 82.79 per litre from Rs 82.59 on Tuesday while diesel rate increased to Rs 77.6 a litre from Rs 77.06.
In Hyderabad, today’s petrol price is at Rs 82.79, the same as yesterday while diesel is at Rs 78.06 per litre, a 56 paise hike.
G. Vinay Kumar, former general secretary of Telangana Petrol Bunk Association told NewsMeter, “On June 6, the petrol price was at Rs 73.82 and diesel at Rs 67.68. The current price of petrol in Telangana is Rs 82.79 per litre and diesel Rs 77.6 per litre. The increase in price is a result of a rise in the cost of barrels.”
Fuel rates have increased across the country and vary from state to state depending on the local sales tax or value added tax added to it, he added.
With the central government easing restrictions on Covid-19 lockdown from June 8, the demand for fuel has increased across the country.
On June 10, the Indian Oil Corporation (IOC) said that it has boosted the run rates of the refinery to around 83 per cent of their capacity following the rise 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, experts feel that there may be further revision in the fuel prices in the days to come