Petrol prices in Hyderabad have been fluctuating a lot these days, as prices of crude oil have been indicating a firm trend. It is becomes all the more important to check petrol price in Hyderabad especially if you are going for a long drive. You must be aware about the fact that, petrol and diesel prices are revised on a daily basis, so you can save some money, if you are making your tank full and travelling for a long distance during weekend. The rupee has also slipped against the dollar, which has impacted negatively on the petrol prices in Hyderabad more expensive than before. It is speculated that the government will take some steps to reduce excise duty that will make the petrol cheaper in coming few days.
Now you can check the prices of petrol in Hyderabad on a daily basis given the fact that prices have changed for the very first time on everyday basis on June 15, 2017.
The good thing for people of Hyderabad is that they may not have to worry much about sudden up and down in petrol price given that a daily variation of petrol prices in Hyderabad will not be much, as compared to the previous 15 days, where there was a huge escalation in the change of cost. Both Petrol and diesel prices, draw their prices from the international markets.
We have not seen too much variation in the price of crude oil, though much of the output would majorly depend on global factors.
Hyderabad is one of the major metropolitan cities in India and is growing at a rapid rate. The number of vehicles has increased drastically in last 10 years with many people working in IT travelling to offices.
That has resulted in the increased fuel usage in Hyderabad. Before 16 June 2017, petrol price in Hyderabad was updated every 15 days where the rates would be modified on the 1st and 16th of every month. The pricing method was influenced by both the currency exchange rate between Rupee and Dollar and the international market’s 15-day average price of crude oil.
Also read: Petrol Price in Bhubaneswar
But India is moving ahead with new ‘Dynamic Fuel Pricing’ pricing mechanism in all the big and small cities and states including Hyderabad. Hyderabad petrol price is now updated on a regular basis by taking the average crude oil prices (14-day average) and the exchange value of rupee-dollar. The Oil Marketing Companies (OMCs) like Bharat Petroleum Ltd. (BPCL), Indian Oil Corporation Ltd. (IOCL), and Hindustan Petroleum Corporation Ltd. (HPCL) set the petrol price of Hyderabad daily at 6:00 am IST.