Hyderabad: Petrol prices increased by 10 paise while diesel decreased by the same. In Telangana per litre diesel now cost at Rs 70 which was Rs 70.10, a day before, while petrol per litre is Rs 74.36.
A dealer asserted that “During early October, the petrol cost was around Rs 84. However as the rupee gained strength and the barrel rate dropped, the petrol cost dropped by Rs 10 on the whole, i.e. from Rs 84 it reduced to Rs 74 and remained at that cost for the last 45 days.”
This hike came after the Assembly results, a similar event was witnessed after the Karnataka elections. After the results, the fuel prices increased in the state.
After oil suppliers like cartel Opec decided to cut oil production to arrest the falling crude oil prices, global crude prices too have seen a rise.