Business International Nation Telangana

Hyderabad: Petrol, diesel prices witness hike for fourth consecutive day

New Delhi: Petrol and diesel prices continued to rise in Hyderabad for the fourth consecutive day on Sunday.

The petrol price has reached Rs. 110.09 per liter whereas diesel is being sold at Rs. 103.18 per liter.

In the city, the petrol price has increased from Rs. 106 per liter on October 1 to Rs. 110.09 on October 16. It has increased by over 3 percent in 16 days.

Similarly, the diesel price has jumped from Rs. 98.39 per liter on October 1 to Rs. 103.18 on October 16. It has witnessed an increase by over 4 percent in 16 days.

Petrol, diesel prices in other cities
In Delhi, petrol and diesel prices were raised to Rs 105.84 per litre and Rs 94.57 per litre respectively.

In Mumbai, petrol prices increased by Rs 0.34 to Rs 111.77 while the cost of diesel increased by Rs 0.37 to Rs 102.52 per litre.

In Kolkata, petrol rises witnessed a hike of Rs 0.33 to Rs 106.43 while the cost of diesel increased by Rs 0.35 to Rs 97.68 per litre.

While in Chennai, petrol prices saw a hike of Rs 0.31 to Rs 103.01 and the cost of diesel is increased by Rs Rs 0.33 to Rs 98.92.

Oil companies started raising auto fuel prices over a week ago. The pause on the prices on October 12 and 13 came after a seven-day consecutive rise. Today, the prices were raised for the fourth consecutive day after a two-day pause.

Petrol, diesel prices: How they are calculated?
Oil companies review and revise the rates of petrol and diesel on a daily basis. The new prices become effective from morning at 6 a.m.

The daily review and revision of prices are based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.