Petrol, diesel to be cheaper by Rs.3 in Hyderabad

The prices of petrol and diesel are all set to come down by around Rs 3 in the city, with the Central government cutting down excise duty on petrol and diesel by Rs 1.50 and also asking oil companies to slash the prices by another Re 1.

The move has come as a relief to commuters who were expecting the prices, at the current rate, to cross Rs 90 per litre for petrol and Rs 85 per litre for diesel. After continuously being on an ascent for over three months, the fuel prices are likely to witness a dip with effect from Thursday midnight.

According to Telangana Petroleum Dealers Association, the fuel prices would come down by Rs 3 as the Centre had announced a cut in excise duty. “Apart from tax reduction in oil companies, if we also include



a cut in other taxes, there would be an overall reduction of Rs 3 on fuel,” dealers said.

G Vinay Kumar, general secretary of Telangana Petroleum Dealers Association, said the fuel prices were more likely to see a dip from Thursday midnight. “After the implementation of revision of fuel prices on a daily basis in the last year, this is the highest tax cut on petrol and diesel,” he said.

On Thursday, the price of petrol was raised by 15 paise a litre while that of diesel was hiked by 11 paise a litre. Both petrol and diesel were settled at Rs 88.97 a litre and Rs 81.99 a litre respectively. Their prices are likely to come down to below Rs 85 a litre and Rs 80 a litre respectively on Friday.