Hyderabad: Petrol and diesel prices increased once again across the country on Saturday as global crude oil prices continued to rise amid tensions in West Asia. The latest revision pushed petrol prices in Hyderabad close to Rs 113 per litre.
After the fresh hike, petrol price in Hyderabad reached Rs 112.81 per litre, while diesel touched Rs 100.94 per litre. Petrol became costlier by 87 paise and diesel by 91 paise.
This is the third fuel price hike in the last 10 days, adding pressure on commuters, transport operators, and businesses already facing rising operational costs.
Before the latest increase, petrol was priced at Rs 111.77 per litre and diesel at Rs 99.89 per litre in Hyderabad.
Earlier on May 15, fuel prices had already witnessed a sharp increase. Petrol rates were revised to Rs 110.78 per litre and diesel to Rs 98.90 per litre. Prior to that revision, petrol had increased by Rs 3.39 and diesel by Rs 3.26 per litre.
IOC Says Fuel Supplies Remain Stable
Meanwhile, Indian Oil Corporation clarified that there is no major shortage of petrol or diesel in the country despite reports of temporary fuel outages at a few retail outlets.
IOC stated that the disruptions were highly localised and temporary, mainly caused by regional demand and supply mismatches along with changing sales patterns.
According to the company, only a very small number of fuel stations among its network of more than 42,000 outlets experienced supply disruptions. Most fuel pumps across the country continue to maintain normal and adequate fuel stocks.
The oil company explained that diesel demand has increased because of the ongoing harvesting season in several states. Additionally, many customers shifted to public sector fuel stations as private outlets were selling fuel at comparatively higher prices.
IOC also said institutional buyers were increasingly purchasing fuel from public sector outlets because international crude oil prices had significantly increased.
Experts warned that repeated fuel price hikes could further increase transportation and logistics costs, which may eventually impact prices of essential goods and services.
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Petrol Price Touch Rs 113 In Hyderabad, Diesel At 101
Hyderabad: Petrol and diesel prices increased once again across the country on Saturday as global crude oil prices continued to rise amid tensions in West Asia. The latest revision pushed petrol prices in Hyderabad close to Rs 113 per litre.
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