Petrol Price In Assam Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 75.45
    Current Petrol Price Per Litre
    Compare Petrol Price in Assam (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 75.45 ₹ 75.45 ₹ 0 ↑
    Petrol Price in Assam - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 75.45
    20 Oct 2019 ₹ 75.45
    19 Oct 2019 ₹ 75.45
    18 Oct 2019 ₹ 75.45
    17 Oct 2019 ₹ 75.45
    16 Oct 2019 ₹ 75.45
    15 Oct 2019 ₹ 75.45
    14 Oct 2019 ₹ 75.5
    13 Oct 2019 ₹ 75.5
    12 Oct 2019 ₹ 75.5

    Petrol Rate Trend

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    Petrol Rate in Assam:

    People seeking petrol price in Assam can find out all they need to know here. Taking into consideration two important cities of Assam - Guwahati and Silchar - we can determine trends experienced in the north-eastern state. As on 13 June 2018, petrol prices in Guwahati and Silchar stood at Rs.78.57 a litre and Rs.78.68 a litre respectively. There exists a difference of 11 paise a litre owing to brand differences.

    Trend of Petrol Price in Assam for August 2019 (rates per /litre ):

    Parameters Rates/litre
    1st August Rs.72.43
    31st August Rs.71.55
    Highest Rate in August Rs.72.43 on 1 August
    Lowest Rate in August Rs.71.37 on 19, 20, 21, 22 and 23 August
    Overall Performance Decline
    Percentage Change -1.21%

    Monthly Petrol Price Trend in Assam for August 2019:

    • In Assam, Petrol prices for the month of August started at Rs.72.43 per litre, a drop of 6 paise from the price charged the previous day. This was the highest price recorded for the month.
    • The Petrol rates in Assam dropped considerably in the following days due to the ongoing trade war between Washington and Beijing as well as for low demand of oil in the local market. Petrol prices went down to Rs.71.53 per litre on 11 August before stabilising.
    • Petrol prices in Assam dropped further in the next few days as concerns of a global economic crisis grew. The rates of petrol slumped to the lowest for the month on 19 August at Rs.71.37 per litre. The prices stabilised there for the next few days.
    • By the end of the month, the rates of petrol climbed marginally and closed the month at Rs.71.55 per litre. In August, the overall performance of petrol in Assam was -1.21%.

    Trend of Petrol Price in Assam for July 2019 (rates per litre):

    Parameters Rates/litre
    1st July Rs.69.97
    31st July Rs.72.49
    Highest Rate in July Rs.73.06 on 23 and 24 July
    Lowest Rate in July Rs.69.97 per litre on 1 July
    Overall Performance Incline
    Percentage Change 3.60%
    • Petrol in Assam was priced at Rs.69.97 per litre when the month began – the lowest price recorded during the month – and prices inclined significantly by the end of the week due to additional imposition of excise duty and cess of Rs.2 per litre by the Centre while presenting the 2019 Budget to increase revenue to fund its social welfare schemes.
    • Petrol prices in Assam during the second week of the month attributed to the sharp rise in crude oil prices in the international oil markets amid escalating tensions in the Middle East despite supply cuts led by the OPEC and its allies to keep markets stable.
    • During the third week, petrol prices rose initially but declined by the end of the week to close at Rs.73 per litre despite rising crude prices due to the rising tensions in the Middle East after the US navy shot down an Iranian drone.
    • The last week of the month witnessed a steep incline in petrol prices even as it recorded its highest price of the month when a litre of petrol was sold at Rs.73.06 on 23 and 24 July influenced by the increase in crude oil prices amid declining US inventories and escalating tensions in the Middle East after the US Navy said it may have shot down a second Iranian drone.

    Trend of Petrol Price in Assam for June 2019 (rates per litre):

    Parameters Rates/litre
    2nd June Rs.71.04 per litre
    30th June Rs.69.87 per litre
    Highest Rate in June Rs.71.04 per litre on 2 June
    Lowest Rate in June Rs.69.41 per litre from 16-23 June
    Overall Performance Decline
    Percentage Change -1.65%
    • Petrol price in Assam on 2 June stood at Rs.71.04 per litre, a slight incline over the previous day’s rate amid rise in crude prices. This was also the highest price recorded during this month.
    • Prices continued to decline during the first half of the month and was priced Rs.69.47 per litre on 15 June, down by Rs.1.57 per litre largely due to the fall in crude prices influenced by the supply cuts led by the OPEC and its allies in the oil market.
    • On 16 June, petrol was its monthly low of Rs.69.41 per litre and was kept unchanged until 23 June even as crude oil prices were volatile impacted by tensions in the Middle East after Iran shot down a US military drone.
    • By the end of the month, prices were hiked; however, they were marginal and the overall trend in June was downward by 1.65% marked by the decline in crude prices.

    A Comparative Analysis of Petrol Prices in Guwahati and Silchar

    On 01 January 2018, petrol was valued at Rs.71.99 a litre Guwahati. The same price was observed in Silchar. By the end of the first month, petrol rates soared to Rs.74.96 a litre in Guwahati and Silchar respectively. In the month of February 2018, fuel rates were declined by Rs.1.61 a litre in both cities. Fuel rates were up by Rs.2.01 a litre and Rs.1.81 a litre Guwahati and Silchar respectively. In April 2018 and May 2018, petrol rates were increased in sync with overseas aspects. Over the last five months, petrol price in Assam has increased by over Rs.8 per litre.

    Fuel Companies

    The business of fuel companies is to extract petrol and petroleum products and sell them through fuel dealers. There are three state-owned fuel companies in India. They include HPCL, IOCL and BPCL. HPCL is headquartered in Mumbai and has about 25% market share in the country. BPCL is also headquartered in Mumbai, the capital city of Maharashtra. Indian Oil Company has its registered office in Mumbai but is headquartered in Delhi.

    Revision of Petrol Price in Assam

    Each state has a different price structure because of Value-added Tax (VAT). The revision of fuel prices will occur using a mechanism called dynamic fuel pricing today. Dynamic fuel pricing is a daily revision system, which will take into account the exchange rate and crude oil rates. Fuel companies have adopted this system in June 2017. It is also followed in a few developed countries, including Japan, Australia and the United States of America.

    Quarterly Petrol Price Trend in Assam between January and March 2019

    January February March
    Opening date price Rs.68.19/litre Rs.70.37/litre Rs.71.32/litre
    Closing date price Rs.70.62/litre Rs.71.21/litre Rs.72.36/litre
    Highest price Rs.70.81/litre recorded between 22nd and 28th Rs.71.21/litre recorded on 28th Rs.72.41/litre recorded on 24th, 25th, 26th and 27th
    Lowest Price Rs.67.86/litre recorded on 4th, 5th and 6th Rs.69.74/litre recorded on 11th, 12th and 13th Rs.71.32/litre recorded on 1st, 2nd and 3rd
    Trend Upward Upward Upward
    % Change 3.56% 1.19% 1.45%

    Quarterly Petrol Price Trend in Assam Between October and December 2018

    October November December
    Opening date price Rs.86.30 a litre Rs.79.21 a litre Rs.72.11 a litre
    Closing date price Rs.79.40 a litre Rs.72.48 a litre Rs.68.19 a litre
    Highest price Rs.86.56 a litre booked on the 4 October 2018 Rs.79.21 a litre booked on the 1 November 2018 Rs.72.11 a litre booked on the 1 December 2018
    Lowest Price Rs.79.40 a litre booked on 30 and 31 October 2018 Rs.72.48 a litre booked on the 30 November 2018 Rs.68.19 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -7.99% -8.50% -5.43%

    Petrol Price Trend in Assam Between October and December 2018

    • Crude oil and the rupee-dollar exchange rate form the two main factors which influence the petrol and diesel prices in the country apart from any revision of taxes levied on the sale of fuel.
    • Prices are revised daily under the ‘Dynamic Fuel Pricing’ mechanism, which considers the oil price and the exchange rate of the Indian currency.
    • Based on this pricing method, petrol was priced Rs.86.30 per litre on 1 October in Assam, a record high due to the rising crude oil prices in the international market.
    • Prices rose to the highest on 4 October when a litre of petrol was sold at Rs.86.56 per litre amid crude oil trading around $80 per barrel.
    • Excise duty of Rs.1.50 per litre was cut by the Central government and asked oil companies to further reduce Rs.1 per litre as fuel subsidy.
    • During the month, petrol prices in Assam declined gradually when it was at its lowest on 30 and 31 October.
    • By the end of the month, the petrol price trend in Assam in October declined by 7.99% attributed to the fall in crude oil prices as well as due to the cut in taxes.
    • On 1 November, the petrol price in Assam stood at Rs.79.21 per litre, registering the highest price during the month.
    • Crude oil prices were trading higher on the back of the trade war between the US and China, which led to record highs of fuel prices across the globe.
    • Petrol rates in Assam recorded its lowest price of the month on 30 November when a litre of petrol was sold at Rs.72.48 per litre.
    • The petrol price trend in Assam during November dropped by 8.50%, declining in tandem with the fall in crude oil prices in the international market.
    • On 1 December, petrol was priced Rs.72.11 per litre, recording the month’s highest price in Assam.
    • Crude oil prices softened to trade around $56 per barrel late December, down from $80 per barrel early October. This led to a significant fall in petrol and diesel rates in the country.
    • During December, petrol prices in Assam declined by 5.43% influenced by the sharp decline in crude oil prices as well as due to a slight appreciation of rupee over the US dollar.

    Quarterly Petrol Price Trend in Assam between July and September 2018

    July August September
    Opening date price Rs.77.75 a litre Rs.78.68 a litre (As on 2 August 2018) Rs.80.86 a litre
    Closing date price Rs.78.55 a litre Rs.80.86 a litre Rs.85.78 a litre
    Highest price Rs.79.04 a litre Rs.80.86 a litre Rs.85.78 a litre
    Lowest price Rs.77.75 a litre Rs.78.68 a litre Rs.80.86 a litre
    Trend Increasing Increasing Increasing
    % Change +1.02% +2.77% +6.08%

    Petrol Price Trend in Assam in July 2018

    • The stat-run companies have followed dynamic fuel pricing in order to update petrol rates in Assam for all the 31 days of July 2018.
    • Fuel pricing, under dynamic fuel pricing, shall occur taking into account the INR’s conversion rate versus the greenback (the USD) and oil rates in the overseas market.
    • Fuel rates have shown a mixed reaction this month. While they have increased in the first 6-7 days of July, oil corporations have slid fuel rates across state in the third week of the month.
    • Therefore, the deviation between the highest rate (Rs.79.04 per litre) and the lowest rate (Rs.77.75 a litre) is just Rs.1.29 per litre. This is not a big difference compared to the earlier month.
    • While the internal factors remained stable, the transactional influencers have caused a price rise of Rs.1.30 per litre (a growth rate of 1.02%).
    • Fuel companies in various parts of Assam such as Guwahati, Dispur, Nagaon, Golaghat, Sivasagar, Haflong, Tinsukia, Tezpur, etc., also reported the same growth rate.
    • It can be interpreted that the USD has gained over the INR minutely. Conversely, there was a slight increase in crude oil rates per barrel.

    Petrol Rate Trend in Assam in August 2018

    • On 1 August, petrol rate in Dispur, the capital city of Assam, was booked at Rs.78.68 a litre. The price was increased by 7 paise a litre the next day. In the first week, petrol rates in Assam (all regions of Assam) were up by 71 paise a litre.
    • Indian Oil, which is a leading brand in the fuel industry in India, retailed petrol at a price of Rs.79.34 a litre in Dispur between 7 August and 15 August.
    • The fuel was sold by the company at a rate of Rs.79.47 per litre between 16 August and 19 August, Rs.79.88 a litre between 21 August and 23 August and Rs.79.97 a litre between 24 August and 26 August.
    • For the remaining days of the month, the company soared the fuel price in Assam with the changes in the exchange rate (USD/INR) and global oil rates.
    • Considering the daily exchange rate, it can be said that the Indian currency kept decreasing by a small margin over the USD.
    • Because of which, fuel rates in Assam have increased to Rs.80.86 a litre from Rs.78.68 a litre. In other words, all the three public sector companies have soared the fuel rate at over 2.50% throughout the state.

    Petrol Price Trend in Assam in September 2018

    • Right from the beginning of September, crude oil costs have begun increasing in response to the increasing overseas demand.
    • In September, the degree at which the domestic currency, the INR, has slid against the currency of the USA, the USD, has been higher compared to July and August.
    • Thus, we can notice frequent changes in petrol prices in Dispur and the remaining cities in the state of Assam this month.’
    • At Rs.80.86 per litre, the fuel was sold on the first and second days of the month. On the fourth and fifth days of the month, the fuel was marketed a price range of Rs.81.72 per litre.
    • Between 7 September and 10 September, the rate of petrol per litre stood at Rs.82.43. Likewise, on the 11th and 12th of September, the price was reset to Rs.82.43 a litre.
    • The price was revised at Rs.84.14 a litre on the fifteen and sixtieth days of the month, Rs.84.69 a litre on the eighteenth and ninetieth days of the month and Rs.84.86 a litre on the twenty first and twenty second days of the month.
    • It was further reset at Rs.85.41 a litre on the twenty fifth and twenty sixth of the month and Rs.85.78 a litre between 28 September and 30 September.
    • As the overseas currency (the USD) has appreciated by a big margin over the indigenous currency and crude oil rates have risen by over $4 per barrel, petrol rates in Assam accelerated by 6.08% in September.

    Quarterly Petrol Price Trend in Assam between April and June 2018

    April May June
    Opening date price Rs.75.80 a litre Rs.76.73 a litre Rs.80.55 a litre
    Closing date price Rs.76.73 a litre Rs.80.61 a litre Rs.77.66 a litre
    Highest price Rs.76.77 a litre recorded on the 24th Rs.80.70 a litre recorded on the 29th Rs.80.55 a litre recorded on the 1st
    Lowest price Rs.75.80 a litre recorded on the 1st Rs.76.73 a litre recorded on the 3rd Rs.77.66 a litre recorded on the 27th
    Trend Upward Upward Downward
    %Change +1.22% +5.05% -3.58%

    Petrol Price Trend in Assam in April 2018

    • Dynamic fuel pricing was used throughout the month of April 2018 in order revalue the price of petrol per litre. Crude oil rates and the exchange rate are taken into consideration to revise the fuel rate regularly.
    • The average petrol rate per litre stood at Rs.75.99 for the first days of the month. Between 9 April 2018 and 14 April 2018, the fuel was marketed at an average price of Rs.76.05 per litre.
    • Similarly, for the third and fourth weeks of the month, petrol price in Dispur, which is the capital city of Assam, increased minutely in tandem with the overseas influencers.
    • Fuel companies such as Indian Oil, Hindustan Petroleum and Bharat Petroleum will also adjust the fuel price if the government revises excise duty.
    • As far as this month is concerned, excise duty was not revised by the government. Sales tax was also not revised by the State Government of Assam.
    • Just because of the variations in the crude oil rate, petrol prices in Assam were up marginally.
    • At Rs.76.77, the highest fuel price was recorded, while the lowest fuel price for the month stood at Rs.76.73.

    Petrol Price Trend in Assam in May 2018

    • Since the Karnataka Government declared its assembly election in the month of May 2018, both diesel and petrol prices across the state were not changed.
    • This is the reason why the fuel was retailed at a price of Rs.76.73 a litre between 01 May 2018 and 11 May 2018 in Dispur, which is the capital city of Assam.
    • The fuel companies increased the price of petrol during the third and fourth weeks of May 2018 considering the changes in the exchange rate and the cost of crude oil.
    • On the 14th, petrol price in Assam per litre was Rs.76.91. It increased to Rs.77.46 on the 17th and Rs.78.76 on the 21st. After the 24th, the fuel rate in the state was above Rs.80 per litre.
    • Excise duty remained unchanged at Rs.17.48 on petrol per litre. Sales tax also remained unchanged at 22.71% this month.
    • As the cost of crude oil per barrel increased by $6, petrol prices in Assam were up 5.05% to Rs.80.61 in May 2018.
    • The highest and lowest fuel rates for the month stood at Rs.80.70 and Rs.76.73 respectively. The highest rate was booked on 29 May 2018 whereas the lowest rate was booked on 03 May 2018.

    Petrol Price Trend in Assam in June 2018

    • The crude oil market was slow this month. Therefore, in international markets, the price of crude started decreasing. The steadily decreasing crude oil rate caused the downward trend.
    • Between 01 June 2018 and 05 June 2018, the fuel price was above Rs.80 per litre in the city of Dispur.
    • The fuel rate remained steady at Rs.78.49 a litre on the 16th, 17th and the 18th. It was constant at Rs.77.66 a litre on the 27th, the 28th, the 29th and the 30th.
    • In June 2018, the average price of crude oil a barrel dropped to $73.85 from $75.31. Fuel rates in the state fell as a result.
    • Indigenous factors such as excise duty, OMC expenses, Value-added Tax and the profit ratio of OMC were not revised.
    • Like mentioned earlier, petrol was priced under the system of dynamic fuel pricing throughout the quarter.
    • For the whole quarter, the highest price stood at Rs.80.55 whereas the lowest price stood at Rs.75.80.
    • The opening date for the month of April 2018 was Rs.75.80. For the month of June 2018, the closing date price was Rs.77.66. It means that the petrol price in Assam increased by 2.45% during this quarter.

    Why Dynamic Fuel Pricing?

    • Dynamic fuel pricing streamlines the fuel revision system and brings transparency.
    • Petrol prices cannot change by big margins like earlier.
    • It allows fuel entities to maintain their working capital better.
    • Any downs and ups in crude oil rates may be quickly transferred to end customers.
    • The fuel segment in India may be interlinked with the global crude oil market.

    Smart ways to get Today’s Petrol Price in Assam

    There are different options available for tracing the latest petrol price in Assam. The easiest way is using mobile applications offered by fuel enterprises. If you want to get the fuel price offered at Hindustan Petroleum in your city, consider using My HPCL. If you want to obtain the price offered at Bharat Petroleum, consider downloading SmartDrive. Customers of Indian Oil Company may use its mobile application called Fuel@IOC. You need to have a smartphone to make use of this facility.

    There are other options for non-smartphone users. BPCL, HPCL and IOCL also provide SMS services.. Customers just have to send an SMS request to the respective fuel brand in a prescribed format. You will get the response instantly. They can also visit the website of HPCL, BPCL and IOCL that upload the revised fuel prices on a daily basis. Listed below are the official websites:

    IOCL - https://www.iocl.com

    BPCL - https://www.bharatpetroleum.com

    HPCL - http://www.hindustanpetroleum.com

    Computation of Petrol Price in Assam

    Petrol price is computed by fuel companies. The computation is very simple. Fuel companies will add the expenses that are incurred at every phase. Major cost aspects include costs of crude oil, the overheads incurred by oil marketing companies, excise duty or central taxes, Value-added Tax (VAT) or state taxes, commission for fuel dealers, etc.

    As on 03 June 2018, the cost of a litre of crude oil was Rs.32.98; excise duty on petrol per litre was Rs.19.48; Value-added Tax on petrol per litre was 30.80%; the total amount of the expenses spent by OMCs was Rs.5.40 a litre; and the commission charged by fuel dealers was Rs.3.63 a litre.

    Factors Affecting Petrol Price in Assam

    • Exchange rate: Crude oil is vastly borrowed by India from other markets. So, the exchange rate has an important role to play. If the conversion rate of the USD against the Indian currency weakens, crude oil costs will accelerate. On the other hand, if the conversion rate of the USD against the INR strengthens, crude oil rates will diminish. Finally, fuel prices are impacted in domestic markets.
    • Taxes: VAT and excise duty are two types of taxes, which are domestically controlled. States will impose VAT. Excise duty is collected by the Central Government. Any ups and downs in taxes will have a direct impact. For instance, if there is a cut in excise duty today, tomorrow’s petrol price in Assam will be adjusted accordingly. If the State Government of Assam announces a cut in VAT, fuel companies have to reset fuel rates.
    • Crude oil costs: The higher the demand for crude oil, the higher will be the cost of crude oil. The lower the demand for crude oil, the lower will be the cost of unrefined oil. Political scenarios, weather conditions and production cuts will impact the pricing and supply of unrefined oil.

    GST vs Petrol Price in Assam

    Goods and Services Tax (GST) has not been imposed on petrol and petroleum sub-products. Therefore, it does not affect the pricing of petrol and diesel. The revenue sources for states and the Central Government are negatively impacted when petrol is brought under the GST mechanism. Opposition party leaders have questioned the government for not bringing petrol and diesel under GST. In fact, the government is now evaluating several options to tax petrol at GST rates. The final decision has to be taken by the concerned authorities.

    *Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.

    News about Petrol Price In Assam

    • Petrol and Diesel Prices Likely to Increase

      State-run Oil Marketing Companies (OMCs) kept prices of petrol and diesel subdued during the 2019 Lok Sabha elections; however, now that the elections are over, expect prices to increase in the coming months. India crude oil basket was trading around $58 per barrel late December 2018 but by April 2019, it rose to nearly to $70 per barrel, up by 23%. Fuel prices, during the same period, rose by just about 4% from nearly Rs.74 per litre to Rs.77. Diesel prices rose by about 6%. With the Organisation of Petroleum Exporting Countries (OPEC) and its allies have agreed to continue with the supply cuts, and the US curbs on Iran and Venezuela is expected to impact crude oil prices to incline. OMCs are expected to pass on the increase, which was stalled unit the elections were over, in the next few months to recover any losses they might have incurred. In India, fuel prices are proportional to the crude oil prices as it depends on more than 80% of crude requirement through imports.

      13 June 2019

    • Fuel Prices Becomes Cheaper on Tuesday

      Petrol and diesel prices were reduced on Tuesday across major metro cities of the country. Petrol became cheaper by 14-16 paise per litre, while diesel was reduced by 10-11 paise per litre. In Delhi, petrol is being sold at Rs.70.44 per litre and diesel at Rs.65.51 per litre. In Mumbai, petrol costs Rs.76.08 per litre as against Rs.76.22 per litre yesterday and diesel is available at Rs.68.59 per litre as compared to Rs.68.70 per litre on Monday. Petrol is being retailed at Rs.73.11 per litre and diesel at Rs.69.20 per litre, down by 16 paise and 11 paise per litre, respectively. In Kolkata, petrol costs Rs.72.55 per litre and diesel is available at Rs.67.29 per litre.

      Fuel prices hit record highs in India for a couple of months till 4 October 2018. Petrol prices had touched Rs.84 per litre in the national capital Delhi, and it breached Rs.91 per litre in Mumbai. Fuel prices are proportional to the crude oil prices in the international market and the rupee-dollar exchange rate. On Tuesday, US oil prices had gone up amid possible tightening oil supply even as the US was looking to initiate curbs on Venezuela as well as due to production cuts by the OPEC. International benchmark Brent Crude oil Futures has yet to trade after closing 0.4% down in the last session.

      5 February 2019

    • Crude oil futures jump by 0.32 per cent

      The prices of crude oil climbed to Rs. 3,753 per barrel in futures trade on Thursday. The jump of 0.32 per cent was recorded as speculators widened their bets in spite of a weak trend overseas. Crude for delivery in February was up in a business turnover of 6,286 lots at the Multi Commodity Exchange. The rise in the crude oil futures was accounted largely to raised bets by participants, however, the gains were capped due to a weak trend in the global market. 

      The prices of Brent crude and West Texas Intermediate (WTI) crude fell by 0.31 and 0.29 per cent respectively on Thursday. At the New York Mercantile Exchange, Brent crude and WTI crude were trading at 60.95 dollars per barrel respectively.

      30 January 2019

    • Margins of synthetic textile manufactures is likely to be increased by falling crude oil costs

      The profit margin of synthetic manufacturers is likely to be increased by a sharp downfall in the rate of petroleum per barrel in the first quarter of the calendar year 2019. Since March, the price of Brent crude oil has downfallen by 23%. To stabilise at this year’s low about $60 a barrel, Brent fell by 37% from its peak. Market experts entrust that the volatility has interrupted the business strategy of the makers of synthetic textile. Over the last two quarter of the present financial year, the flexibility in crude oil has affected the financial results of the manufacturer of synthetic. Indo Rama has produced a net loss of Rs.326.20 million on an overall income of Rs.3,955.9 million in the second quarter this fiscal year. Madan Sabnavis, Chief Economist at Care Rating, said, ‘’Over the last two months, the price of crude oil has been increasing steadily and also the Indian rupee has been devaluating versus the overseas currency. Both factors will directly influence fuel prices. Crude oil or petroleum is a prime raw material required for the manufacturer of synthetic. The pricing of crude oil also influence fabric move, yarn and man-made fibre.

      26 December 2018

    • Vandana Hari States That Rising Oil Prices Is Mainly Due To The Break In Trade Wars

      In an interview with ET Now, the founder and CEO of Vanda Insights, Vandana Hari, stated that the Opec ministers will be meeting soon and there will be another meeting with non-Opec countries and they are expecting to cut production from the current levels. However, the percentage of the cut is still not known and is much speculated. The price of oil fell from $85 to $58 and now it is 5% higher. The cut in the production of oil will play a crucial role in determining whether crude oil prices will bounce back or not. She further stated that the reason for the recent bounce in the equity market across all commodities not just oil was mainly due to the ongoing China- U.S trade war. The rising tide is back because of the trade war resite.

      6 December 2018

    • OMCs, Aviation, and Paint Industries See Stocks Rise as Crude Prices fall

      Oil Marketing Companies (OMCs), paint, and aviation industries are all reliant on oil and hence when crude oil prices were rising, the companies’ stock values dropped. As crude oil prices have dropped by 20% in the recent weeks, stocks for the aforementioned companies have risen as much as 13% in the November derivatives data.

      Some of the leading firms in the aviation and oil industries has seen significant rise in their stock values. Bharat Petroleum Corporation Limited, BPCL, one of the state owned OMC has seen its stock prices rise by 7.17% in November as crude oil prices have dropped. This is because the fear over the sharing of oil price burden by these companies have dropped. Back in October, BPCL and other OMCs were asked to subsidise fuel by Rs.1 while the central government did the same by Rs.1.5 per litre of fuel.

      Jet Airways, on the other hand, saw its stock prices rise by 12.34% while HPCL recorded a 6.58% increase during November. Asian Paints and InterGlobe Aviation are the other two gainers over the last few months, which have seen their stock value for November rise by 7.96% and 12.98% respectively.

      14 November 2018

    • Petrol is Cheaper Than Diesel in Odisha

      For the first time in Odisha, petrol became cheaper than diesel today. Even as oil companies revised fuel prices based on the dynamic fuel pricing mechanism, diesel prices in Bhubaneshwar are 12 paise more than that of petrol. Diesel is being sold at Rs.80.69 a litre and petrol is available at Rs.80.57 per litre. Odisha charges a uniform Value Added Tax (VAT) of 26% on both petrol and diesel, unlike other states where the VAT is different for petrol and diesel. The Centre had cut excise duty of Rs.1.50 per litre on both petrol and diesel and asked oil companies to subsidise Rs.1. However, that has been wiped with the rise in fuel prices due to the increase in the crude oil price and the sharp fall in the Indian currency’s exchange rate over the U.S. dollar. In September, fuel price rose to touch a four-year high offering no respite to consumers. India imports more than 80% of crude oil from other countries making it an expensive commodity in the country. Any rise in oil prices leads to a significant incline in petrol and diesel prices.

      24 October 2018

    • High Fuel Prices Behind Falling Number of Cabs on the Road

      It is no longer a surprise that fuel prices have been rising consistently over the last month or so, hitting new heights and surpassing on a daily basis. Commuters who use their vehicles on a daily basis are left to fend for themselves and are now shelling out significant sums to make their everyday commute possible.

      Now, according to a report, office goers in the western suburbs of Thane have been witnessing a shortage of cabs in the city, particularly during peak hours. Sources say that this is because of the rising fuel prices which are touching new highs every day. Further, the long traffic jams during the peak hours mean more fuel consumption, which is causing Ola and Uber drivers are staying away from making themselves available for rides.

      Also, the rising diesel and petrol rates have brought about the rise of surge pricing, with commuters shelling out up to 2x the normal amount and more in some cases as there are shortage of cabs as it is. An official from an aggregator said that a rising demand will bring costs up and the more number of drivers stay away from the road, the more the cost of riders is likely to increase. He further said that more fuel price hikes will have a much worse impact on the scenario.

      3 October 2018

    • Oil Prices in India not likely to Drop Despite Increased Production

      Oil prices in India are not likely to go down any time soon even though there are news that oil production in the US has risen consistently.

      Various policy makers and trade analysts believe that the main reason for this has nothing to with crude oil prices or production. It is rather a geopolitical concern that has caused oil prices in India to skyrocket so heavily.

      The main reason for the rise is the United States’ imposition of sanctions against Iran which has forced a lot of countries to cut their imports from the nation. This has further increased the pressure on other OPEC nations to deliver, which subsequently has caused fuel prices to rise.

      Various reports are also suggesting the same saying that oil production in the US is on the rise, however the sanctions on Iran in the main thing that is affecting billions of lives in Asia and other parts of the world, which are dependent on crude from Iran.

      12 September 2018

    • Petrol and Diesel Prices Hiked Today

      Petrol and diesel prices were hiked across metro cities in the country effective 6:00 am on 2 August 2018. Petrol prices were increased by 12 paise, 13 paise, 11 paise and 13 paise in New Delhi, Kolkata, Mumbai and Chennai respectively. On the other hand, diesel prices were increased by 11 paise in New Delhi, Mumbai and Kolkata, while in Chennai it was increased by 12 paise per litre. Petrol is being sold at Rs.76.43 per litre in New Delhi, Rs.79.33 in Kolkata, Rs.83.87 in Mumbai and Rs.79.39 in Chennai. Diesel was being sold at Rs.67.93 a litre in New Delhi, Rs.70.69 in Kolkata, Rs.72.12 in Mumbai, while in Chennai it’s being retailed at Rs.71.74 per litre. Crude oil prices increased on Thursday, stabilizing after losses over the past two days amid concerns over trade war between the US and China. Fuel prices in India are revised on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism. Oil companies fix fuel prices based on the global crude oil rate and the currency exchange value of the US dollar over rupee.

      3 August 2018

    Petrol Price In Metro Cities
    Petrol Price In Other Capitals
    Petrol Price In Other Major Cities
    Petrol Price In States

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