Chennai: On Sunday, Petrol and Diesel rates in Chennai and Hyderabad remain the same as yesterday. In Chennai, the petrol is ₹94.71/litre and Diesel is ₹88.91/litre while in Hyderabad per litre petrol costs ₹96.70 and Diesel is priced at ₹91.36/litre. There hasn't been an increase in the fuel prices for the last three days in both the cities while In Bengaluru Petrol prices rose by ₹0.17/litre and diesel spiked by ₹0.28/litre. The petrol price stands at ₹96.31 while diesel costs ₹89.12.
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In the earlier practices in India, the fuel rates varied twice a month but due to the constant change in trends and utilisation of fuel, it started to change every day which is called 'Dynamic Fuel Pricing'. The variation in fuel prices is now based on crude oil price in the international market.
Depending upon the various factors such as demand for the oil and importing charges, export charges and much more the petrol price in the Indian cities is fixed. Demand for fuel especially petrol is increasing on a daily basis due to the increasing vehicular population.