Hyderabad: Petrol and diesel prices in Hyderabad have been hiked again on Saturday to take retail rates across the country to new record highs.
The petrol price has reached Rs. 109.73 per liter whereas diesel is being sold at Rs. 102.8 per liter.
In the city, the petrol price has increased from Rs. 106 per liter on October 1 to Rs. 109.73 on October 16. It has increased by over 3 percent in 15 days.
Similarly, the diesel price has jumped from Rs. 98.39 per liter on October 1 to Rs. 102.8 on October 16. It has witnessed an increase by over 4 percent in 15 days.
Petrol, diesel prices in other parts of the country
After today’s hike, petrol is at Rs 100-a-litre mark or more in all state capitals, while diesel has touched the 100-level in a dozen states.
The price of petrol in Delhi rose to its highest-ever level of Rs 105.49 a litre and Rs 111.43 per litre in Mumbai, according to a price notification of state-owned fuel retailers.
In Mumbai, diesel now comes for Rs 102.15 a litre; while in Delhi, it costs Rs 94.22.
This is the third straight day of 35 paise per litre hike in petrol and diesel prices. There was no change in rates on October 12 and 13.
How petrol, diesel prices are calculated?
Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised by them on a daily basis. The new prices become effective from morning at 6 a.m.
The daily review and revision of prices are based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.