Nation Current Affairs 10 Oct 2019 Petrol prices contin ...

Petrol prices continue to drop

DECCAN CHRONICLE.
Published Oct 10, 2019, 1:19 am IST
Updated Oct 10, 2019, 1:19 am IST
Fuel prices depend on crude prices in global market.
The steady decrease in fuel prices in the last one week is a result of a constant reduction in global crude oil. In days to come, the prices are likely to drop by a rupee, say retailers in the state.
 The steady decrease in fuel prices in the last one week is a result of a constant reduction in global crude oil. In days to come, the prices are likely to drop by a rupee, say retailers in the state.

Hyderabad: Fuel prices across Telangana petrol bunks have seen a dip. On October 9, petrol per litre  fell  by 87 paisa while diesel fell by one rupee.

The steady decrease in fuel prices in the last one week is a result of a constant reduction in global crude oil. In days to come, the prices are likely to drop by a rupee, say retailers in the state.

 

Nine days ago, petrol cost stood at  Rs 78. 93 and a steady decline was observed in the last eight days. The price per litre fell  to Rs 78.07 on Wednesday, while diesel which cost Rs 73.22 per litre dropped to Rs 72. 68, a difference of one rupee. Major cities like Mumbai and Delhi have also registered decrease in the costs of both substances.

This has come as a major relief as prices across all metro cities were registering a steep high in September,  following the drone attack on Saudi oil facilities.

Mr G. Vinay, general secretary of Telangana State Petroleum Dealers, said, “Petrol and diesel prices were  on a rise across India. However,  they have seen a dip but vary from state to state, because of the different value-added tax. Currently, the TS  government has set the slab at 33 per cent,  lesser than AP. Fuel is cheaper in Maharashtra, Tamil Nadu and Karnataka when compared to TS because the VAT per cent is less. The prices of diesel and petrol are likely to decrease by another rupee.”

The rise and fall in Indian petroleum prices depend on the cost of crude oil in global markets.

Meanwhile, crude oil has registered its biggest drop  in the country since July this year.

Indian cities have been witnessing a fall in prices over the last five days.

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Location: India, Telangana, Hyderabad




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