Hyderabad: Automobile fuels, mainly petrol, are sold at over Rs 90 per litre in some parts of the state. On average, the price for petrol in the state a day ago was Rs 90.65. In a minor fluctuation, it came down to Rs 89.15 on Sunday. For diesel, the rate was Rs 82.80 per litre.
The fuel price was highest in Kumaram Bheem Asifabad district where a litre of petrol cost Rs 91.19 and diesel Rs 84.70 per litre.
Motorists aren't amused by the daily hike in the prices. “Daily travel from my home in Malakpet to the IT corridor pinches my pocket as the price of fuel keeps increasing," said Syed Faraz, an IT professional.
Petroleum dealers say the rise in the price was due to inflation in the global crude oil price, and that no tax — central or state — was increased.
“The prices are based on global crude oil prices. As we see it now, fuel prices are going to rise,” Rajiv Amaram of the Consortium of Indian Petroleum Dealers (CIPD) told Deccan Chronicle. The country imports more than 80 per cent of its petroleum product requirements.
When it comes to the price of fuels, everything from procurement to payment to refineries and VAT among other charges aids in making up the retail price of fuel. "Whenever there is a change in global crude oil prices, there is a corresponding change in the prices of fuel sold in the state," said Arunkumar of the Telangana Nayara Petroleum Dealers Association.
Adding to the state and central coffers, the worldwide prices of the fuel are priced in dollars. In this context, the strength of the Indian rupee against the US dollar impacts the price of the fuel as well, he said.