Today petrol price stable, diesel hiked in Hyderabad, other metro cities on December 21

Hyderabad: The domestic fuel prices have recorded mixed trends on Saturday (December 21). Today there is no change in the petrol rate and diesel went up by 21 paise at all major metro cities across the country. With this, the petrol rate in Hyderabad remains stable at Rs 79.42 per litre and diesel price increased by 12 paise and reached Rs 72.61 per litre.

A similar situation exists in Amaravati. Here the petrol cost is Rs 78.98 and diesel sold at Rs 17.89. In Vijayawada, the petrol remains constant at Rs 78.61 and diesel hiked to Rs 71.55. In Delhi, petrol continues at Rs 74.63 and diesel priced at Rs 66.54. The petrol price in Mumbai is tagged at Rs 80.29 and diesel sold at Rs 69.80.

As on June 2017, Diesel prices in India are revised daily, and this is called the dynamic fuel price method. Petrol and diesel rates are revised at 06:00 a.m. every day. Before this prices were revised every fortnight. Various factors impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher. Price of fuel includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of the petrol gets nearly doubled.