Upward trend continues for petrol, diesel prices in Hyderabad

Hyderabad: Petrol and diesel prices once again increased in Hyderabad on Wednesday after oil marketing companies decided to continue the upward price revision of auto fuels.

In the city, the price of petrol per liter climbed from Rs. 88.37 on Tuesday to Rs. 88.63 on Wednesday. During the same period, the price of diesel per liter climbed from Rs. 81.99 to Rs. 82.26.

Petrol price may breach Rs 90-mark in Hyderabad

Earlier, petroleum dealers speculate that the price of petrol may continue the upward trend in Hyderabad unless government reduce excise duty. They said that it will not be a surprise if it breaches Rs. 90-mark.

It is said that the rise is primarily on account of Saudi Arabia’s decision on unilateral production cuts.

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Petrol price may breach Rs 90-mark in Hyderabad

As per oil companies’ executives, petrol and diesel prices in Hyderabad and other parts of India may increase further in coming days.

What Union Minister says?

Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Monday said that fuel prices had gone up because of lower production in oil-producing nations due to the COVID-19 pandemic.

The lower production had caused an imbalance in demand and supply, he added.