Hyderabad: The petrol price are increasing day by day with consumers barely noticing it. With the daily revision system of fuel prices, over the last couple of months there has been increase of 10 to 15 paise according to the daily revision system.
Now the petrol and diesel prices have increased to three year high, with the petrol costing Rupees 75.32 per litre and diesel costing Rs 67.09 per litre.
With the rise in crude oil prices in the international market, the fuel prices are expected to increase further.
According to the news reported in Telangana Today, during October and November, with the cut in excise duties, there was decrease in the prices of petrol and diesel. But from December, there has been an upward increase in the prices of petrol and diesel.
The increase in petrol and diesel prices will have greater impact on transportation, civil contracts and commodities. The prices of essential commodities are expected to increase with the rise in fuel prices.
In Hyderabad, the prices of petrol have increased steadily from in January 2018, with the price of petrol being 74.17 on January 1st and the prices have increased to 75.57 as of January 17, 2018.
Also Read : Cong hits out at centre over petrol prices
Rajiv Amaram, joint secretary, Consortium of Indian Petroleum Dealers (CIPD) said that on July 1, 2017 diesel price was Rs 58.09 per litre in the city on 1st July 2017, but on Tuesday, it increased to Rs 67.23 per litre. Likewise, on July 1st, the price of petrol was Rs 66.93 per litre, but now it reached at Rs 75.47.
G Vinay Kumar, general secretary, Telangana Petroleum Dealers Association, said that “Tough days are ahead. One should not be surprised, if the diesel price too increases to Rs 70 per litre in the coming days.”