Petrol Price In Chandigarh Today

  • Today's Petrol Price ( 19 Apr 2019 )
    ₹ 68.96
    Current Petrol Price Per Litre
    Compare Petrol Price in Chandigarh (Today & Yesterday)
    Today
    (19 Apr 2019)
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    (18 Apr 2019)
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    Petrol ( / litre) ₹ 68.96 ₹ 68.96 ₹ 0 ↑
    Petrol Price in Chandigarh - Last 10 Days Data
    Date Petrol ( / litre)
    19 Apr 2019 ₹ 68.96
    18 Apr 2019 ₹ 68.96
    17 Apr 2019 ₹ 68.96
    16 Apr 2019 ₹ 68.96
    15 Apr 2019 ₹ 69.01
    14 Apr 2019 ₹ 68.9
    13 Apr 2019 ₹ 68.9
    12 Apr 2019 ₹ 68.9
    11 Apr 2019 ₹ 68.84
    10 Apr 2019 ₹ 68.84

    Petrol Rate Trend

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    Petrol Price in Chandigarh

    Chandigarh is a union territory in India and serves as the capital of two states - Haryana and Punjab. The city is one of the oldest planned cities in post-independence India and is famous for its modern architecture and urban planning. Spread over an area of 114 sq.km, the city is well served by the public transportation system as well as private vehicles.

    With a burgeoning population, Chandigarh’s transportations depend on fuel to aid its economy. The city has the largest number of vehicles per capita in the country and the vehicle density in the city has only increased in the recent past and petrol has become an important commodity.

    State-owned Oil-Marketing Companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum operate nearly 90% of the petrol pumps in Chandigarh. Since India imports crude or unrefined oil from the Organisation of Petroleum Exporting Countries (OPEC), the petrol price in Chandigarh and other cities are relatively higher. There are several components which determine the Retail Selling Price (RSP) of petrol in India. Here’s an analysis of each of these components and how the petrol pricing is computed.

    Quarterly Petrol Price Trend in Chandigarh Between October and December 2018

    October November December
    Opening date price Rs.80.67 a litre Rs.75.00 a litre Rs.68.60 a litre
    Closing date price Rs.75.16 a litre Rs.68.94 a litre Rs.65.06 a litre
    Highest price Rs.80.90 a litre booked on 4 October 2018 Rs.75.00 a litre booked on the 1 November 2018 Rs.68.60 a litre booked on the 1 December 2018
    Lowest Price Rs.75.16 a litre booked on the 30 and 31 October 2018 Rs.68.94 a litre booked on the 30 November 2018 Rs.65.06 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -6.83% -8.08% -5.16%

    Petrol Price Trend in Chandigarh Between October and December 2018

    • Petrol prices are determined by the crude oil price and the exchange rate of the rupee against the US dollar.
    • Prices are fixed daily by State-run oil firms who include the 14-day average price of the crude oil and the exchange rate of rupee-dollar under the ‘Dynamic Fuel Pricing’ method.
    • On 1 October, petrol was priced at Rs.80.67 per litre, a record high after the crude oil price touched a four-year high in the international market.
    • On 4 October, petrol rates in Chandigarh rose to touch the highest when a litre of the fuel was dispensed at Rs.80.90, prompting the Union government to cut the excise duty levied on the sale of fuel in the country.
    • While the government cut excise duty of Rs.1.50 per litre on both petrol and diesel, it asked oil firms to further reduce Rs.1 per litre as fuel subsidy.
    • By the end of October, petrol prices in Chandigarh declined by 6.83% attributed to the drop in crude oil prices as well as due to the excise duty cut.
    • Petrol was priced at Rs.75.00 per litre in Chandigarh on 1 November – the highest recorded price of the month.
    • The steep petrol prices were attributed to the high crude oil prices which were influenced by the geopolitical tensions between the US and China over trade between the two nations.
    • On 30 November, petrol was sold at Rs.68.94 per litre, which was the lowest rate recorded during the month.
    • Overall, petrol prices in Chandigarh in November declined by 8.08% amid declining crude oil prices.
    • In December, petrol was priced at Rs.68.60 per litre on the first day of the month, also, the highest price registered during the month.
    • Crude was trading around $56 per barrel late December amid declining geopolitical tensions. The crude oil was down from trading around $80 per barrel early October.
    • The petrol price trend in December in Chandigarh declined by 5.6% influenced by the significant fall in the global crude oil prices as well as due to the slight appreciation of the rupee over the US dollar.

    Calculation of the Petrol Price in Chandigarh

    Petrol Price in Chandigarh = Global Crude or Unrefined Oil Cost + Taxes (Excise Duty & Value Added Tax) + Dealer Commission + Pollution Cess

    While the above calculation offers a broad understanding of the petrol pricing in India, let’s look at these in detail.

    • Global Crude Oil Cost: As mentioned, India purchases crude oil from oil-producing countries and the cost of crude oil is dynamic in nature which changes based on several factors such as increased demand, shortage in supply, production cuts or geopolitical tensions. Any of these factors impact the price we pay for a litre of petrol in Chandigarh. Since India buys crude oil in US dollars, any change in the exchange rate affects the petrol price in Chandigarh as well as other cities in the country.
    • Taxes on Petrol: Petrol rates include taxes charged by the central and the states. While the centre levies excise duty of Rs.19.48 per litre, the VAT levied by the Chandigarh administration is 19.76%.
    • Dealer Commission: Fuel stations or petrol pumps are operated to store and dispense fuel to consumers for which the dealers take a cut as commission which is included in the petrol price before its sold to the end consumer.
    • Pollution Cess: The centre charges 25p for a litre of petrol throughout the country in an effort to go green.

    Petrol Price Trend in Chandigarh between July 2018 and September 2018

    July August September
    Opening date price Rs.72.66 per litre Rs.73.48 per litre Rs.75.76 per litre
    Closing date price Rs.73.48 per litre Rs.75.65 per litre Rs.80.36 a litre
    Highest price Rs.73.97 per litre Rs.75.65 per litre Rs.80.36 a litre
    Lowest price Rs.72.66 per litre Rs.73.65 per litre Rs.75.76 per litre
    Trend Upward Upward Upward
    % change +1.12% +2.95% +6.07%

    Petrol Price Trend in Chandigarh in July 2018

    • India is one of those countries following dynamic fuel pricing to reset the rates of diesel and petrol. Government no longer controls fuel pricing as it has deregulated both petrol and diesel.
    • In Chandigarh, the capital city of Haryana, petrol rates have been reset in July under dynamic fuel pricing, also called the daily revision system.
    • The price revision of petrol has to be carried out considering the USD/INR rate and transactional unrefined oil rates. If the rupee is down, fuel price in Chandigarh is up. If the rupee is up, fuel rate is down.
    • The rupee was not stable against the greenback. It was observed to be down in the entire month of July 2018 in Chandigarh. The unrefined oil market was also listless.
    • Owing to these factors, the cost of petrol in the capital city of Haryana increased just by 1.12% at the HPCL, BPCL and IOCL petrol distribution centers.
    • In other cities of Haryana also, the similar trend was observed. As far as July 2018 is concerned, the central and state levies were not revised.
    • On 16 July 2018, the fuel was priced at Rs.73.97 per litre, which was the highest rate for July 2018.

    Petrol Price Trend in Chandigarh in August 2018

    • The daily revision system was used by fuel entities this month. Petrol rate in the city of Chandigarh was Rs.73.48 per litre on 1 August 2018.
    • On the 3rd and the 4th respectively, the commodity was priced at Rs.73.71 per litre and Rs.74.7 per litre. The price increased to Rs.74.25 paise per litre on the 7th.
    • The lowest fall in the overhead of unrefined oil shall be transferred to end customers. In the first 10-13 days of the month, the base currency gained and the petroleum cost per barrel decreased.
    • So, they have neither increased nor decreased the fuel rate in the second week. The commodity was valued at Rs.74.25 per litre on 7, 8, 9 and 10 August 2018.
    • OMCs continued retailing the fuel at Rs.74.25 per litre until the end of the second week of August 2018.
    • Also, the fuel was sold by OMCs at a price of Rs.74.38 per litre on 17-19 August 2018 in the capital city of Haryana.
    • As the rupee depreciated, once again petrol rate in Chandigarh amplified by 2.95%.
    • The lowest rate stood at Rs.73.48 per litre whereas the highest rate stood at Rs.75.65 per litre this month.

    Petrol Price Trend in September 2018 in Chandigarh

    • The price of petrol per litre mounted steadily since the petroleum cost bounced back and the poor INR.
    • At Rs.75.76 per litre, fuel users bought petrol on 1 September 2018. Further, the price jumped to Rs.76.21 per litre on the 3rd, Rs.76.56 per litre on the 6th, Rs.77.39 per litre on the 8th per litre and Rs.77.73 per litre on the 10th.
    • The price of petrol in the capital city of Haryana stood at Rs.78.25 per litre on 14 September, Rs.79 per litre on 17 September and Rs.79.16 per litre on 19 September.
    • At Indian Oil petrol stations, HPCL petrol stations and BPCL petrol stations, the rate of petrol per litre was raised by Rs.4.60.
    • In this month, the average petroleum rate accelerated by almost $5 per barrel. The base currency once again remained stronger. Therefore, fuel prices in Haryana’s capital soared by above 6%.
    • The sales tax on petrol in Haryana was steady at 25.44% and the central levy also remained unaffected at Rs.19.48 per litre.
    • Even the changes in these two tax forms shall be considered for fuel pricing. If the Government of Haryana decides to reduce the state tax by one rupee per litre, the RSP of petrol has to be reduced by one rupee per litre.
    • Despite a nationwide strike on 10 September 2018, the pricing of petrol was not influenced by the Centre and State Government of Haryana.

    Quarterly Petrol Price Trend in Chandigarh Between April and June 2018

    April May June
    Opening date price Rs.70.90 per litre Rs.71.77 per litre Rs.75.33 per litre
    Closing date price Rs.71.77 per litre Rs.75.39 per litre Rs.72.66 per litre
    Highest price Rs.71.81 per litre recorded on 24th Rs.75.46 per litre recorded on 29th Rs.75.33 per litre recorded on 1st
    Lowest price Rs.70.90 per litre recorded on 1st Rs.71.77 per litre recorded from 1st to 11th Rs.72.66 per litre recorded from 27th to 30th
    Trend Upward Upward Downward
    %Change +1.23% +5.05% -3.55%

    Petrol Price Trend in Chandigarh in April 2018

    • The petrol price in Chandigarh on 1 April 2018 stood at Rs.70.90 per litre - the lowest petrol price of the month in the union territory.
    • Petrol price remained steady during the first and second with slight variations due to the fluctuations in the global crude oil rate.
    • Fuel prices in India are revised every day in tandem with the crude oil rate and the currency exchange rate of the US dollar over rupee.
    • State-run fuel companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise the petrol price on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism where oil companies include the preceding day’s crude oil rate and the exchange value of the US dollar.
    • Petrol prices in Chandigarh during the third and fourth continued to incline; however, the increase was not significant.
    • The highest petrol price registered during the month in Chandigarh stood at Rs.71.81 per litre on 24 April 2018 influenced by the slight rise in crude oil rate.
    • Overall, the petrol price trend in the month reflected an upward trend of 1.23% impacted by the marginal rise in oil prices in the international market.

    Petrol Price Trend in Chandigarh in May 2018

    • Fuel companies kept petrol prices unchanged until 11 May 2018 which stood at Rs.71.77 per litre, also the lowest price recorded in the month.
    • The steady petrol price in Chandigarh was influenced by the stable crude oil price in the global market.
    • However, post 11th fuel prices inclined sharply as the crude oil price rose significantly due to a possible shortage in supply in the backdrop of possible sanctions on Iran by the US.
    • With apprehension of a possible crunch in supply, crude oil prices rose considerably which led to petrol prices touching a new high of Rs.75.46 per litre on the 29 May 2018.
    • Along with a weaker rupee over the US dollar and the rise in crude oil prices, petrol prices in Chandigarh as well as across the country rose to touch peak levels.
    • The petrol price trend in Chandigarh in May 2018 reflected a significant upward trend of 5.05% largely due to the considerable rise in oil prices.

    Petrol Price Trend in Chandigarh in June 2018

    • With crude oil prices on the rise, members of the Organisation of Petroleum Exporting Countries and its key ally Russia decided to meet on 22 June 2018 to tackle the growing concerns over high fuel prices across the world.
    • On 1 June 2018, petrol was sold at Rs.75.33 per litre which was also the highest petrol price in Chandigarh of the month.
    • Over the course of the first and second week, petrol prices declined although it was marginal.
    • By mid-June 2018, petrol prices in Chandigarh fell by Rs.1.86 per litre impacted by the decline in crude oil prices.
    • The fall in crude oil prices was influenced by the decline in geopolitical fears over a shortage of supply.
    • On 22 June 2018, the OPEC and Russia agreed to raise the production of crude oil to allay fears over a possible crunch in supply.
    • By the end of the month, petrol prices in Chandigarh registered its lowest cost which stood at Rs.72.66 a litre on 27 June 2018 and continued till the end of the month.
    • Overall, the petrol price trend in June 2018 in the union territory fell by 3.55% largely to the OPEC agreeing to increase the supply of oil in the international market which led to the fall in crude oil rates.

    All the above components determine the petrol price in Chandigarh and any changes impact the current petrol price.

    Quarterly Petrol Price Trend In Chandigarh between January and March 2018

    January February March
    Opening date price Rs.67.30 per litre Rs.70.25 per litre Rs.68.83 per litre
    Closing date price Rs.70.13 per litre Rs.68.77 per litre Rs.70.73 per litre
    Highest rate Rs.70.13 per litre booked on 06 January Rs.70.57 per litre booked on 6 February Rs.70.73 per litre booked on 26 March
    Lowest rate Rs.67.30 per litre booked on 01 January Rs.68.77 per litre booked on 25 February Rs.68.83 per litre booked on 01 March
    Trend Upward Downward Upward
    % Change 4.04% up 2.15% down 2.69% up

    Trend in Petrol Price in Chandigarh in January 2018

    • The leading oil companies in India, namely HPCL, BPCL and IOC declared the average opening price of petrol of Rs.67.30 per litre as on 01 January 2018. This was also the lowest petrol price recorded for the month.
    • During the first week of January, the prices of petrol slightly increased as the oil-producing countries have slightly accelerated the price Brent Crude oil.
    • The highest petrol price of the month of Rs.70.13 per litre was booked on 06 January.
    • By 20 January, petrol prices had hit Rs.69.14. The increase in petrol rates was mainly because the value of USD fell for three consecutive days on 17, 18, and 19 of January by 0.2%, 0.03%, and 0.06%, respectively.
    • The fuel price closed at Rs.70.13 on 31 January 2018.
    • The overall incline in the fuel price for the month of January was 4.04%.

    Trend in Petrol Rate in Chandigarh in February 2018

    • Petrol was valued at Rs.70.25 per litre on 01 February 2018.
    • As oil exporting countries a steady growth in the demand for unrefined oil during the first week of the month, petrol prices did not fluctuate much.
    • The highest petrol price of Rs.70.57 per litre was recorded on 6th of the month.
    • Though the Union Budget was introduced in india, it did not have any impact on the oil and natural gas industry. Therefore significant increase or decrease in petrol prices was not seen.
    • On 25 February, the lowest petrol price of Rs.68.77 per litre for the month was recorded.
    • Apart from the drop in the value of the USD, no other factors have impacted the fuel rate except the crude oil price of Indian Basket, which declined to $63.54 a barrel.
    • An overall declining trend was noticed in petrol prices as the fuel fell by 2.15%.

    Trend in Petrol Prices in Chandigarh in March 2018

    • On the first day of the month, petrol was priced at Rs.68.83 per litre which was an increase of 6 paisa from the previous day. This was also the lowest petrol price tracked in this month.
    • On 2 and 3 of the month, petrol was booked at Rs.Rs.69 and Rs.69.24 respectively.
    • No significant changes in petrol prices was noted throughout the month of March as the crude oil price did not fluctuate majorly and the drop in URD rate was ignorable.
    • On 21 and 22 March, petrol price stood at Rs.69.44 and Rs.6949 respectively.
    • The highest petrol prices was noted on 26 March when the fuel was sold at Rs.70.73 per litre.
    • As mentioned earlier the crude oil’s demand was stable throughout the month and the unrefined oil price stood at $63.80 a barrel.
    • Overall, petrol prices declined by 2.69% for the month of March.

    Why do Petrol Price Change Daily in Chandigarh?

    Under the new ‘dynamic fuel pricing’ mechanism, petrol rates are revised daily. Until July 2017, petrol prices were revised fortnightly taking the average global crude oil price and the US Dollar exchange rate; however, this mechanism did not allow retailers to increase or decrease the price in case of incline or decline in the crude oil prices, which is dynamic in nature.

    To offset any losses, the new pricing was introduced to sell petrol at the previous day’s crude oil price and the US dollar exchange rate in the market. Therefore, any increase in the global crude oil price will increase the current petrol price in India and vice versa.

    How to Check Petrol Price Daily in Chandigarh?

    With the new pricing mechanism in place, the current petrol price is more or less different compared to the previous day’s price. It’s quite challenging to know today’s petrol price in a city; however, OMCs have developed several ways to check petrol price daily.

    • Via Smartphone Apps: Oil companies have launched their respective mobile apps to track or check the petrol price on a daily basis. IOC has launched the ‘Fuel@IOC’ app, BPCL customers can take advantage of the ‘SmartDrive’ app, while HPCL has launched the ‘MY HPCL’ app to check the current petrol rate in a particular city.
    • Via SMS: For those who would like to utilise the SMS facility. The process below will help you track the current fuel price.
      • IOC: SMS RSP dealer code to 9224992249.
      • HPCL: SMS HPPRICE dealer code to 9222201122.
      • BPCL: SMS RSP dealer code to 9223112222.
    • Via Website: Additionally, customers can visit OMCs respective website to check the current petrol price in a city.

    What is the Breakup of the Petrol Price?

    The table below offers the breakup of the petrol price in Chandigarh and how each of these components contributes to the retail selling price of petrol. The price is taken as on 3 June 2018.

    Sl.No. Component Price
    1 Global Crude Oil Price + Freight Charges $78.30 per barrel = Rs.32.98/Litre (considering $1=68.36 and 1 barrel oil = 159 litres)
    2 Profit margin of Oil Companies, transportation, refining, and freight charges Rs.5.41/Ltr
    3 Central Excise Duty + Road Cess Rs.19.48/Ltr
    4 Dealer Commission Rs.3.63/Ltr
    5 Value Added Tax (VAT) Rs.12.15/Ltr
    Total Retail selling price of petrol in Chandigarh Rs.73.65/Ltr

    Petrol Vs. Diesel Rate in Chandigarh

    Petrol prices are comparatively higher than diesel. The tax on petrol is much higher than diesel making the petrol dearer. During April 2018, the average petrol price in Chandigarh stood at Rs.71.37 per litre, while diesel stood at Rs.63.43 per litre. The average difference between the two extensively utilised fuel is Rs.7.94 per litre.

    Why is GST not Applicable on Petrol?

    The Goods and Service Tax (GST) was introduced on 1 July 2017 which is applicable on sale of goods or services in the country. However, petroleum products, electricity and alcoholic beverages are exempted from the GST. This is due to state governments losing out on the revenue generated through the sale of petroleum products in the state. If petrol is brought under the ambit of the GST, the petrol price in Chandigarh will reduce drastically as the current taxes on petrol is much higher compared to the highest tax slab in the GST.

    Also Check Petrol Price in NearBy Cities of Chandigarh

    Petrol Price In Gurgaon Petrol Price In Hisar Petrol Price In Faridabad
    Petrol Price In Ambala Petrol Price In Delhi Petrol Price In Karnal

    *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 Chandigarh

    • Every litre of petrol in Delhi sold for Rs.69.86

      The rates of petrol in the national capital fell below the Rs.70 mark for the first time since January this year on Monday. Following the cut in the prices, every litre of petrol was sold for Rs.69.86 in Delhi, which is the lowest level in 2018. As per the data released by the Indian Oil Corporation, the previous lowest price of petrol in the country this year was Rs.69.97, as of January 4.

      It needs to be mentioned here that the petrol prices in Chennai also declined to its lowest in the current year as of Monday. Consumers residing in the southern metropolitan city of Chennai were required to pay Rs.72.48 for purchasing one litre of petrol as of Monday after the rates were cut by Rs.0.22.

      It is noteworthy to mention here that petrol rates in Mumbai and Kolkata had hit lowest levels of 2018 earlier in the month. However, they continued to drop even further on Monday given the decline in the prices. Following the cut in petrol prices by Oil Marketing Companies (OMCs) on Monday, every litre of petrol in Mumbai and Kolkata cost Rs.75.48 and Rs.71.96 respectively.

      27 December 2018

    • Petrol Price Hike Affecting all of India, People of Pune Find Electric Bikes as Alternatives

      With the price of Petrol hitting Rs.89.99 per litre in Pune on the 26th of September, driving a vehicle has proven to be expensive in the city of Pune. However, Puneites have come up with an alternative to beat the price hike by using electric bikes.

      With the help of electric bikes, one of the most common being the Hero Optima, you can cover long distances without worrying about petrol prices. The battery power of the Hero Optima helps you cruise at a 27 km/hr speed, once completely charged.

      When it comes to the pricing of electric bikes, the Hero Optima is available at Rs.35,690 and can travel upto 60 kms on a full charge.

      Electric bikes, if adopted, can help you save on the skyrocketing fuel prices hitting the population of India and you can help contribute towards the environment by reducing pollution.

      1 October 2018

    • Petrol Prices Hit the Highest Ever of Rs.80.87 per litre in Delhi

      Fuel prices have been on the for quite a while now and as per reports seen on the 11th of September, petrol prices hit their highest ever of Rs.80.87 per litre in Delhi while the same was Rs.88 and change per litre in Mumbai - the highest in India.

      A leading media company did an in-depth report on why exactly the fuel prices are rising in the country and produced some conclusive findings.

      According to this, prices have rise by 238% in the in the last 20 years, with prices holding at just Rs.23 per litre way back in September 1998. The report said that there are five main reasons affecting fuel prices, they are: the price at which OMCs buy oil from the refinery, the freight charges that OMCs incur in transporting the refined oil, and the rupee.

      When the rupee is weak the cost incurred will also rise considerably which is what is currently happening, the report said. The other three factors are excise duty the government charges on the import of crude, dealer commission, who take their cut while selling the fuel, and the final one is VAT, which the government again charges against a shipment.

      17 September 2018

    • Petrol Prices Hiked for the Fourth Straight Day

      Petrol prices in the country were hiked for the fourth straight day by the Oil Marketing Companies (OMCs). Following the hike, petrol in the national capital was being sold for Rs.78.18 per litre while in other metro cities like Mumbai, Kolkata, and Chennai the prices were Rs.85.60, Rs.81.11 and Rs.81.22 respectively. The revised rates came into effect from 6 am on Wednesday. The surge in petrol prices was accounted to the rise in the cost of crude oil and high excise duty. It needs to be mentioned that the total incidence on petrol comes up to 45-50%. On the global front, crude oil prices were stable on Wednesday. This was primarily because of falling supplies from Iran as well as rising production outside OPEC (Organization of the Petroleum Exporting Countries). It needs to be mentioned that going forward petrol and diesel will not fall under the purview of Goods and Services Tax (GST). The development comes about because neither the Central government nor the states are in favour on fears of heavy revenue loss.

      31 August 2018

    • Petrol Prices Reduced by Rs.2 a litre in 14 Days

      Petrol prices were reduced by 15 paise per litre in Delhi today. This marks the 14th consecutive reduction in petrol prices since 29 May 2018. The cut on petrol prices is nearly two rupees a decline from its price 14 days ago. Effective 6 a.m., 12 June 2018, petrol prices stood at Rs.76.43 a litre in Delhi, Rs.84.26 per litre in Mumbai, Rs.79.10 per litre in Kolkata and Rs.79.33 a litre in Chennai as per India’s largest oil retailer Indian Oil. Petrol prices have fallen by almost Rs.2 a litre in Delhi, Rs.1.98 per litre in Mumbai, Rs.1.96 a litre in Kolkata and Rs.2.1 per litre in Chennai. The fall in petrol prices is attributed to the decline in global crude oil prices and a stronger rupee over the US dollar.

      12 June 2018

    • India to Consider a Long-term Stance on the Pricing of Fuels such as Diesel and Petrol

      In Delhi, the national capital, the current Oil Minister has said that the country is willing to take a long-run stance on fuel prices to safeguard the fuel consumers from the fluctuations in translational markets. Fuel prices in Delhi have reached a new level. Now, a litre of petrol is sold at Rs.77.17 per litre whereas a litre of diesel is sold at Rs.68.34 per litre. Ravi Shankar Prasad told in a conference that it is ideal for the government to take a long-term perspective to address instability.

      24 May 2018

    • Petrol Prices Climbed Today Again

      Today, petrol price today increased by 3 paise per litre by Indian Oil Company in Chennai, Delhi, Mumbai and Kolkata. The fuel was priced at Rs.73.98 per litre in Delhi, Rs.76.69 per litre in Chennai and Rs.81.83 per litre in Mumbai today, 6 April 2018, by this oil company. Petrol prices have changed several times by fuel companies over the last 18 days. They have been up by Rs.1.75-1.88 per litre in the metro cities in India as per IOC.

      So far this month, petrol prices are up by Rs.3.97 per litre in Kolkata, Rs.3.96 per litre in Mumbai, Rs.4.01 per litre in Delhi and Rs.4.22 per litre in Mumbai. International crude oil prices fell comparatively on Wednesday. Both US crude oil and Brent have fallen their 2-week lows. Brent Crude touched a session low of $66.69. US crude price fell to $62.06.

      6 April 2018

    • Petrol to Transact at High Prices in Metro Cities

      Dynamic fuel pricing is impacting the petrol rate to grow day by day. On 24 January 2018, fuel consumers bought the fuel at Rs.80.36 a litre in Mumbai and at Rs.72.49 a litre in Delhi. Similarly, the price tags of a litre of petrol in Chennai and Kolkata were Rs.75.18 a litre and Rs.75.18 a litre correspondingly. Over the last 30 days, the petrol rate have been growing. To ease the situation for commoners, the Oil Ministry urged the Finance Ministry to reduce the central tax. Till date, a tax of Rs.19.48 a litre is imposed on petrol.

      The country adopted dynamic fuel pricing, a new fuel reviewing approach, post mid-June last year. Since then petrol rates were observed moving downwards for the first 15 days. The petrol rate started moving upwards after that. The growing rate was curbed by reducing the central tax to Rs.19.48 a litre on the fuel. Moreover, a few states declared a cut in state levies in October 2017.

      The Ministry for Oil is also finding out the best recipes to bring petrol under the newly introduced tax system, the Goods and Services Tax (GST). Dharmendra Pradhan, Oil Minister, said “We have suggested the Council of GST to tax petrol at GST slabs and are confident that the GST Council will do so in the near future.

      25 January 2018

    • Niti Aayog is Planning to cut Oil Bill by $100 Billion

      It has been planned by the government to use methanol extensively in transportation fuel and cooking gas in order to reduce the yearly oil import bill by $100 by the end of 2030. The government was planning to execute a scheme according to which 15% methanol shall be blended with petrol. This shall diminish the cost of the fuel by 10%, says Nitin Gadkari, Union Gadkarari. Being the third biggest oil importer, India is making efforts to diminish imports through using alternative fuels like methanol. NITI Aayog has targeted to reduce $100 annually by 2030 in the imports of crude oil in line with the vision of the Prime Minister, said Nitin Gadkari, Union Minister.

      29 December 2017

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