Hyderabad: Petrol, diesel price hike continues

Hyderabad: Petrol and diesel prices in Hyderabad are continuing their upward trend. On Friday, the prices were hiked for the second consecutive day.

Petrol price has reached a record high of Rs. 109.37 per liter whereas, the diesel price in the city has jumped to Rs. 102.42.

Although the prices were hiked across the country, they vary from state to state due to different rates of Value Added Tax (VAT) and also due to transportation charges from the nearest refinery.

Petrol, diesel prices in other cities

In the national capital, the petrol price reached Rs 105.14 per liter whereas the price of diesel is Rs 93.87 per liter.

In Mumbai, the petrol prices were raised by Rs 0.34 to Rs 111.09 per liter and diesel by Rs 0.38 to Rs 101.78 per liter.

Petrol and diesel have been priced at Rs 105.76 per liter and Rs 96.98 per liter respectively in Kolkata.

How petrol, diesel prices are calculated?

Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised by them on a daily basis. The new prices become effective from morning at 6 a.m.

The daily review and revision of prices are based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.