Hyderabad: Fuel prices in Hyderabad continue to witness a hike for the fourth consecutive day on Saturday.
In the Hyderabad city, the prices of petrol and diesel have reached Rs 113.36 per liter and Rs 106.60 per liter respectively.
In the month of October, petrol and diesel prices in Hyderabad have witnessed a hike of 6.49 percent and 7.70 percent respectively.
☆Petrol, diesel prices in India depend on international rates.
As India depends on the import of fuel, the prices of petrol and diesel in the country are influenced by international rates.
However, the central government’s excise duty and the state government’s VAT are the major portions of the fuel prices.
The prices of fuel are not the same across the country as state governments levy different rates of VAT.
Taking all these into consideration, oil companies review and revise the rates of petrol and diesel on a daily basis. The new prices become effective from 6 a.m.