Petrol price to be hiked by Rs 2 per litre, diesel Rs 1.50 per litre in Hyderabad
Hyderabad: The price of petrol could increase by up to Rs 2 per litre and diesel Rs 1.50 per litre in the city when oil marketing companies revise the prices on June 1.
Based on the movement of prices in the five cities, including Visakhapatnam, where daily revision of prices is being done since April, dealers said the fuel prices would increase in the city.
The daily revision of prices in the five cities has become an advance indicator for the fortnightly price revision.
The petrol price was revised downward to Rs 69.74 per litre and diesel Rs 59.87 per litre in Hyderabad on May 15 when petrol price was cut by Rs 2.94 per litre and diesel by Rs 2.66 per litre.
The daily revision indicates that prices have almost gone back to the May 15 levels. Petrol was sold at Rs 70.52 on May 15 in Vizag and Rs 72.06 on Saturday, an increase of Rs 1.54. The price of diesel went up Rs 1.16, from Rs 60.57 to Rs 61.73. Prices are revised on the 1st and 16th of every month based on the average international price of fuel in the preceding fortnight.
