Hyderabad: According to the Telangana Petroleum Dealers Association, petrol price in Hyderabad was Rs 90.42 per litre and diesel price was Rs 84.14 per litre for the first time on Friday. These have reached the highest level of all time in Hyderabad. After the daily revision in fuel prices, petrol price surged by 65 paise per litre and diesel price increased by 68 paise in the last two days.

Rajiv Amaram, Joint Secretary of the Indian Petroleum Dealers Consortium, said the government would reduce excise duty to reduce petrol-diesel prices for the people. "There will be little growth in the coming days," he said.

Local dealers said petrol-diesel would be cheaper when vehicles were not moved during the lockdown. However, prices have risen with the return of normal life in the unlocked phase. Petrol diesel price is rising since November last year. Petrol price has increased to Rs 6.17 per litre in the last three months. This means that the price of diesel has increased from Rs. 76.84 to Rs. 84.14 on November 19 to Rs. 90.42 on February 5.

Explain that prices of petrol and diesel depend on dynamic pricing system. It was implemented by the central government in 2017. Accordingly, retail prices of petrol and diesel will depend on global crude oil prices. In this, oil marketing companies review the daily petrol and diesel rates and implement the changes.

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