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The four-week status quo in fuel prices in December was just temporary relief, it appears, with both petrol and diesel prices now set to shoot up to record heights.
The four-week status quo in fuel prices in December was just temporary relief, it appears, with both petrol and diesel prices now set to shoot up to record heights.
The glimpses are already there, with a steady rise already in effect from the first week of January. On Saturday, petrol was sold for Rs 88.11 a litre and diesel for Rs 81.72 a litre. From December 8 till January 5, the price of petrol stood at Rs 87.06 a litre and diesel at Rs 80.60 a litre.
However, in the last 10 days, the petrol price was shot up by Rs 1.05 a litre — from Rs 87.06 a litre on January 5 to Rs 88.11 a litre on January 16 — while the diesel price rose by Rs 1.12 a litre, from Rs 80.60 a litre to Rs 81.72 a litre, during the same period.
According to petroleum dealers, this could just be the start, as prices of crude oil at the global level are showing an upward trend. “A rise in global crude oil prices has pushed diesel rates in Hyderabad higher. The diesel price will rise each time crude prices rise and the rupee falls against the dollar,” dealers said.
Vinay Kumar from Telangana Petroleum Dealers Association said unless the Centre reduced the excise duty, fuel prices would be high across the city. “We hope that the government reduces excise duties so that the common man gets fuel without paying through the nose,” he said.
After a brief lull during the lockdown, fuel prices were rising steadily since June till the brief break in December. “It will not be a surprise if petrol prices cross the Rs 90-mark,” a city dealer said.
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