Hyderabad Second In Petrol-Diesel Prices!

For the sixth consecutive day, the prices of petrol are high with Rs. 78.80 per litre, putting Hyderabad on the second position after Mumbai. As per reports, over the last eight days, petrol and diesel prices have increased by Rs. 2 and Rs. 1.63 respectively. The hike in the prices continued on Tuesday, by 23 paise for petrol and 15 paise for diesel.

It is attributed by petroleum dealers that the rise in petrol and diesel prices is due to last week’s attack on Saudi Arabia oil facilities, which has affected over five percent of global oil supply. Another reason for this is the increase in excise duty. The price of petrol at Indian Oil petrol bunks is Rs 76.99 and at Bharat Petroleum bunks are Rs. 77. The fluctuation in the prices is seen since 2017 due to the introduction of dynamic pricing.

The Government’s initiative Niti Aayog has earlier proposed to ban all petrol and diesel vehicles after 2030 and suggested only electric vehicles to be sold in India. However, on Monday Union Transport Minister Nitin Gadkari told that there is no need to ban petrol-diesel vehicles, giving relief to the automobile industry. He told that buying electric vehicles has already gained momentum and in the next two years, all the buses would be electric.

He also emphasized on the cost-effectiveness of electric vehicles and told, “If we run vehicles on electricity, it would be as cost of Rs 15 per litre of diesel. When I told industry in a meeting that I would prohibit smoke-emission machines in the country, all were afraid."

Also Read: TRAI Plans for 11-digit Phone Numbers!