The Indian government released the budget for 2019-20 yesterday, and announced an increase in excise duty and cess on petrol and diesel by Re 1 per litre. Following this, the petrol and diesel prices have gone up by over two rupees, a day after the announcement.
Officials reported an increase in fuel prices when TNM enquired in four southern cities at various petrol pumps.
Bengaluru
Officials from Hindustan Petroleum, Shell, and Indian Oil all reported an increase in petrol and diesel prices.
“Yesterday, petrol was priced at Rs 72.89 per litre. Today, it is Rs 75.42 per litre,” an HP petrol pump employee told TNM. Similarly, from being priced at Rs 66.50 a litre on Friday, diesel prices are at Rs 68.93 on Saturday.
A similar peak in prices was reported by a Shell petrol pump official. While petrol increased by Rs 1.90 from Rs 75.70 per litre on Friday, diesel was being sold at Rs 69.25 a litre on Saturday – an increase of Rs 2.05. “This has happened because the duty on petrol and diesel has increased after yesterday’s Budget,” a Shell official confirmed.
Similar trends were reported by an Indian Oil official, who said that petrol had been hiked to Rs 75.37 from Rs 72.23 since Friday. Diesel was being sold at around Rs 68, he said.
Hyderabad
Petrol prices in Hindustan Petroleum corporation outlets across Hyderabad saw an increase of Rs 2.59, and diesel prices, by Rs 2.56. A staffer at Hindustan Petroleum said, "Yesterday, the price of petrol was Rs 74.94, today it is Rs 77.53 and diesel was Rs 70.11, today it is Rs 72.67."
According to Good Returns, a website which monitors and updates petrol prices, the petrol price which was Rs 74.88 for the past four days, has increased to Rs 77.48. Diesel which was at Rs 70.06 increased to Rs 72.62.
Chennai
A petrol pump executive at Bharat Petroleum told TNM that petrol rates have increased from Rs 73.24 to Rs 75.81 on Saturday. “As for the diesel rates, it has gone up from Rs 68.01 to Rs 70.53 per litre,” he said.
“The rates have gone up for sure,” a Shell petroleum pump executive from Chennai confirmed. “For petrol, it is up by Rs 2.10 and for diesel, it has gone up by Rs 2.5 per litre.”
Thiruvananthapuram
Kerala’s capital also saw a similar increase, with a hike of almost Rs 2.50 per litre of petrol and diesel. A Hindustan Petroleum official revealed, “Petrol till yesterday was at Rs 73.73, today it’s at Rs 76.25. Diesel, which was at Rs 69.19 on Friday, is at Rs 71.67 a litre now.”
This Rs 2.50 jump in prices was confirmed by an IOC (Indian Oil Corporation) petrol pump employee as well. “Price of petrol yesterday was Rs 72.55 per litre and today it has jumped to Rs 75.05. For diesel, it was Rs 68.09 per litre yesterday. Today, it has increased to Rs 70.56 per litre.”