Hyderabad: The four-week status quo was to provide temporary relief in fuel prices in December, with prices of both petrol and diesel now reaching record highs.
The glimpses are already there, with a steady increase already from the first week of January. Petrol was sold at Rs 88.11 per liter and diesel at Rs 81.72 per liter on Saturday. From December 8 to January 5, the price of petrol was Rs 87.06 per liter and diesel was Rs 80.60 per liter.
However, in the last 10 days, the price of petrol was Rs 1.05 per liter – from Rs 87.06 per liter on 5 January to Rs.88.11 per liter on 16 January – while the price of diesel increased by Rs 1.12 per liter. 80.60 per liter to Rs 81.72 per liter during the same period.
According to petroleum dealers, this may be just the beginning, as global crude oil prices are seeing a boom. “The rise in global crude oil prices has led to higher diesel rates in Hyderabad. Diesel prices will rise every time crude oil prices and the rupee depreciate against the dollar.
Vinay Kumar of the Telangana Petroleum Dealers Association said that unless the center reduces excise duty, fuel prices will be high across the city. “We hope that the government reduces excise duty so that the common man can get fuel without paying through his nose”.
After a brief lull during the lockdown, fuel prices were steadily rising from a brief pause in June to December. “It would not be surprising if petrol prices crossed the Rs 90 level,” said a city dealer.
