Hyderabad: Much to the relief of citizens, fuel prices are finally coming down in the city after rapidly rising during the first half of 2021. In the last 10 days, petrol and diesel prices in the city have decreased by 47 paise and 93 paise respectively. As on September 2, one litre of petrol was being sold at Rs 105.26 per litre, while diesel was priced at Rs 96.71 per litre.

“The prices finally started coming down in the last few days. We are expecting that both petrol and diesel prices will go down by at least Rs 4 each by the end of September. After the steep rise in the fuel prices in May, June and July, it is expected that the government will now correct the prices,” said G Vinay Kumar, president, Telangana State Petrol Dealers Association.

The key factors that influence the fuel prices are the global price of crude oil and the currency value of the rupee against the US dollar. Apart from these the import cost, entrance duty, refining costs, logistics for fuel producers also affect the pricing.