Hyderabad: Fuel Prices To Drop Further
Finally, fuel prices in the city are coming down after a rapid rise during the 2021 Covid 19 lockdown. In the past 10 days, the city's petrol and diesel costs have fallen by 47 and 93 paise, respectively. On September 2, one litre of petrol cost Rs 105.26, while a litre of diesel cost Rs 96.71.
The cost of fuel has been steadily falling throughout August and is projected to fall much lower in September. "Prices have finally begun to fall in the last several days. We expect gas and diesel prices to fall by at least Rs 4 each by the end of September. Following the sharp increase in gasoline prices in May, June, and July, the government is expected to fix the prices," said G Vinay Kumar, head of the Telangana State Petrol Dealers Association.
The global price of crude oil and the rupee's currency value against the US dollar are the two most important variables influencing gasoline costs. Aside from these, import prices, entry duties, refining charges, and logistics for fuel producers all have an impact on pricing.
