Petrol, diesel become dearer

Prices were hiked just two days after Karnataka elections

Petrol and diesel in Hyderabad on Monday became dearer by 19 paise and 26 paise respectively per litre.

This followed public sector oil marketing companies revising the fuel prices across the country, something that they opted for after a gap of almost three weeks.

Post the change, at Indian Oil Corporation (IOC) outlets in the city a litre of petrol was dispensed for ₹79.23 (earlier ₹79.04). The same quantity of diesel came for ₹71.89 (earlier ₹71.63).

The new prices took effect at 6 a.m. on Monday.

Pump prices of the three companies vary by a few paise. At HPCL pumps, the price of a litre of petrol is now ₹79.27, while for diesel it is ₹71.93.

At the BPCL outlets, petrol and diesel were priced at ₹79.19 and ₹71.85 respectively.

With Monday’s change, the companies are expected to resume daily revision of prices, a practice they have been following for a year.

The previous change in petrol and diesel prices was effected on April 24, after which they were not revised ostensibly in view of the Karnataka elections. The oil companies’ decision to change the prices came after the polling on May 12 in that State.

Monday’s change is bound to bring back worries for motorists about further increase in fuel prices in the backdrop of global crude as well as product prices firming up.