Petrol & diesel prices reach all-time high in Telangana

Hyderabad: The petrol & diesel prices reached all-time high in Telangana for the ninth consecutive day, as they have been increased 21 times so far in 2021.

On Wednesday the price of petrol was hiked by 26 paise in the State causing the rate to touch Rs. 93.10 a litre. The price of diesel rose by 27 paise to cost Rs.87.20 a litre.

The continuous rise in fuel prices has made the citizens worry about their spending. If the price rise continues many of them will take up public transport, leaving their personal vehicles behind, commented Harish, a techie.

He said "the government should start a system wherein the rise of fuel prices should be directly proportional to incomes because there is a lot of disparity in earning of an individual when compared with rising prices of petrol, diesel, gas and other consumable goods."

Meanwhile, Union Petroleum Minister Dharmendra Pradhan has said that besides hitting fuel demand, higher oil prices could potentially hinder economic growth in developing countries, including India.

The rising crude oil prices during the last few weeks is hurting the fragile global economic recovery due to significant demand contraction, which might even mirror the impact of Covid-19 in its initial stages.

"India has been able to contain the inflationary pressure on several fronts, but not those impacted by crude prices," he added.