New Delhi: Petrol and diesel prices in India are most likely to be increased soon as the ongoing Russia-Ukraine war has led to a surge in crude oil prices globally.
The price of Brent crude oil per barrel has crossed $130-mark. It is likely that the price may further increase as the US on Tuesday banned all oil and gas imports from Russia.
India which depends on the import of crude oil for 85 percent of its oil requirement, will certainly have to pay more to fulfill its oil needs.
In such a scenario, the petrol and diesel prices in Hyderabad and other cities in India are expected to rise.
What govt says on prices?
Oil Minister Hardeep Singh Puri has said that oil companies will decide on petrol and diesel pricing. He also rejected that a freeze in rates despite a 60 percent jump in the cost of raw material was dictated by the government.
“Oil prices are determined by global prices and there is a war-like situation in one part of the world and the oil companies will factor that in. The oil companies will themselves determine the prices. We will take decisions in the best interest of the citizens,” he said.
Current petrol, diesel prices in Hyderabad, other metros
Many experts have predicted that petrol and diesel prices will increase after the ending of the multi-phase polling in Uttar Pradesh. However, no hike has been made done so far.
| Cities | Petrol price per litre | Diesel price per litre |
| Hyderabad | Rs. 108.20 | Rs. 94.62 |
| Delhi | Rs. 95.41 | Rs. 86.67 |
| Mumbai | Rs. 109.98 | Rs. 94.14 |
| Kolkata | Rs. 104.67 | Rs. 89.79 |
| Chennai | Rs. 101.40 | Rs. 91.43 |
As per concerned officials, PSU fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) will watch the evolving situation internationally for a couple of more days before revising rates.
