Hyderabad: Hyderabad and other metro cities, along with the rest of the country, saw a hike in petrol and diesel prices on Friday, May 15.
It is the first rate increase in more than four years, amid mounting losses of fuel retailers due to surging global crude prices.
Fuel prices hiked 16 days after polls
The increase comes 16 days after Assembly elections concluded in Assam, Kerala, Tamil Nadu, and West Bengal. Fuel prices had remained unchanged through the polling period despite a sharp rise in international oil prices triggered by the West Asia conflict.
Petrol prices were hiked to Rs 97.77 per litre from Rs 94.77 in the national capital. Diesel now costs Rs 90.67 as against Rs 87.67 per litre previously, industry sources said.
Rates vary across states due to differences in value-added tax.
Although fuel prices are officially deregulated, revisions are often influenced by political considerations.
Prices of petrol, diesel in Hyderabad, other metro cities
Effective Friday, retail selling prices of petrol and diesel in metro cities are as follows:
| Cities | Petrol prices | Diesel prices |
| Hyderabad | 110.89 | 98.96 |
| Delhi | 97.77 | 90.67 |
| Kolkata | 108.74 | 95.13 |
| Mumbai | 106.68 | 93.14 |
| Chennai | 103.67 | 95.25 |
Energy prices globally
Energy prices globally shot up after the US-Israel attack on Iran on February 28, and the subsequent retaliation by Tehran effectively shut down the Strait of Hormuz — the sea lane through which a fifth of the world’s oil and gas transits.
Crude oil, the input raw material for making petrol and diesel, surged above USD 120 per barrel during the peak of the West Asia conflict, as opposed to the USD 70-72 range before the conflict.
Private fuel retailers had already increased pump prices. Nayara Energy, the country’s largest private fuel retailer, in March raised petrol prices by Rs 5 per litre and diesel by Rs 3, while Shell increased petrol prices by Rs 7.41 and diesel by Rs 25 per litre from April 1. In Bengaluru, Shell sells petrol at Rs 119.85 per litre and diesel at Rs 123.52.
Apart from petrol and diesel, domestic cooking gas LPG prices were also raised in Hyderabad and other metro cities in March by Rs 60 per cylinder.
