Diesel breached the ₹100-a-litre mark once again in Hyderabad after national oil marketing companies on Wednesday increased the pump price by 80 paise for the same quantity.
Though not the first instance of the fuel going past the psychological price barrier, it still is a cause of concern for households and their budgets as before long, daily use items such as staples and vegetables will become dearer. Summer’s impact on fresh produce output is only bound to make matters worse for them.
Besides essential items, increase in diesel prices is bound to make travel expensive and also less comfortable for some. Telangana State Road Transport Corporation has made bus tickets expensive in recent weeks through a round-off and passenger safety cess. Cab operators have announced they will charge additionally for switching on the air-conditioning in their cars. Regular and share autorickshaws will also be demanding more fare from customers for the same distance.
The oil companies had reverted to daily revision in petrol and diesel prices after a gap of almost four and a half months on March 22. This followed conclusion of elections in five States as well as international crude oil prices soaring in the backdrop of rising tensions first and a war subsequently between Russia and Ukraine.
On March 22, after the first revision since early November, diesel cost increased to ₹95.48 a litre in Hyderabad, while the same quantity of petrol went up to ₹109.08. The oil companies have since raised the fuel price in small doses on many days.
On Wednesday, the price per litre was ₹100.69 for diesel and ₹114.50 for petrol, HPCL dealer and Telangana Petroleum Dealers president M. Amarender Reddy said. Fuel prices differ between the three oil companies and outlets. Diesel had already raced past the ₹100-a-litre mark in many places across the State recently, including on Tuesday, in Rangareddy district. Petroleum dealers had to not only grapple with the increase that necessitates more working capital, but also come to terms with many customers, who irked over the hike, get into arguments with pump attendants, he said.
According to Shaik Salauddin from the Telangana Gig and Platform Workers Association, cab drivers have already been dealt a double whammy. While on the one hand, their incentives as paid by cab aggregators are not what they used to be, on the other, frequent fuel price hikes have been taking a toll on drivers. As a result, those from his association have decided to go on a ‘NO AC’ in cabs. Meaning, they would not switch on the air-conditioner in the vehicles.
The Telangana State Road Transport Corporation too has been reeling under the shock of the price hike. The transport juggernaut, which enjoyed rebate on diesel, experienced the hike before those who buy fuel from retail filling stations. With an increase of diesel prices for bulk buyers, the TSRTC began topping up vehicles from retail filling stations. Despite this, the cost of diesel is one of the key factors that is leading to crushing losses.
