Hyderabad: Petrol and diesel prices in Hyderabad are continuing their upward trend. On Monday, the petrol price has reached a record high of Rs. 108.64 whereas, the diesel price in the city has jumped to Rs. 101.66.
The diesel price in Hyderabad has crossed Rs 100 a liter mark on October 7.
The prices vary from state to state due to different rates of Value Added Tax (VAT) and also due to transportation charges from the nearest refinery.
Petro, diesel prices in Delhi
In the national capital, petrol price rose 30 paise per litre and diesel was hiked by 35 paise per litre. The prices of petrol and diesel have crossed the Rs 100 per litre mark in many states, pinching the common man’s pocket.
In Delhi, petrol is now retailing at Rs 104.44 per litre and diesel is available at Rs 93.17 per litre after the latest price revision. On the other hand, in India’s financial capital, Mumbai, petrol became costlier by 29 paise per litre and its rate stands at Rs 110.41 the highest across all the four metro cities. Diesel costs Rs 101.03 for one litre in Mumbai, a hike of 37 paise.
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.
With inputs from agencies