Petrol Price In Chandigarh Today

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.

Trend of Petrol Price in Chandigarh for April 2020 (rates per litre):

Monthly Petrol Price Trend in Chandigarh for April 2020:

• In Chandigarh, petrol price opened the month of April at Rs.65.80 per litre. The rate charged for a litre was the same as the closing price of the previous month. The opening price was the lowest recorded price of the fuel for the month.
• Having stayed constant for the first five days of the month, the rates saw a minimal increase of 0.02 on 6th April. A litre of petrol was retailed for Rs.65.82 per litre in the city following the revision in the prices.
• The rates didn’t see any change following that in the city as state-run Oil Marketing Companies (OMCs) decided against changing the prices even though international oil prices slipped considerably as demand fell due to the lockdowns imposed to contain the spread of Covid - 19. The overall performance of the fuel saw an incline of 0.03% in the prices.

Trend of Petrol Price in Chandigarh for March 2020 (rates per litre):

Monthly Petrol Price Trend in Chandigarh for March 2020:

• Petrol opened the month of March at Rs.67.79 per litre in Chandigarh. It was the highest recorded price of the fuel for the month. There was a drop of 14 paise in the rates when compared to the closing price of the previous month.
• By the end of the first week, petrol prices slipped by 65 paise for every litre and cost Rs.67.14 in the city. The drop in the prices was accounted to weak demand for the fuel given the prevailing situation around the world.
• The rates continued to slip as international oil prices plummeted further. This meant that petrol recorded its lowest price for the month on 16th March with OMCs charging Rs.67.79 per litre. The rates remained stagnant following that and closed the month witnessing a decline of 2.93% in the prices since the start of March.

Trend of Petrol Price in Chandigarh for February 2020 (rates per litre):

Monthly Petrol Price Trend in Chandigarh for February 2020:

• Petrol price in Chandigarh stood at Rs.69.16 per litre on 1st February. Compared to the closing price of January, the rates for every litre slipped by 13 paise.
• As international crude oil prices softened due to the outbreak of Coronavirus across the world, the rates slipped in the city. The cost for a litre of petrol dropped to Rs.67.97 per litre on 11 February.
• The rates continued to drop further and recorded its lowest price for the month on 18 February with every litre costing Rs.67.93. The rates closed the month at the same price with the overall performance being -1.77%, trending downwards.

Trend of Petrol Price in Chandigarh for January 2020 (rates per litre):

Monthly Petrol Price Trend in Chandigarh for January 2020:

• In Chandigarh, petrol price opened the month of January at Rs.71.03 per litre. There was no change in the prices when compared to the previous month’s closing price.
• The rates were on the upward curve in the city over the opening week of the month. The increase in the prices saw petrol record its highest price for the month on 11 January with every litre costing Rs.71.87. The jump in the prices was accounted to tensions between the United States and Iran.
• With crude oil prices coming down in the global market, petrol prices fell in the third week. The drop in the prices of global crude oil was accounted to easing tensions in the Middle East and the outbreak of coronavirus in China.
• With the World Health Organization (WHO) declaring a global health emergency due to the increasing number of coronavirus cases and deaths due to it, petrol prices in Chandigarh plummeted further. The rates closed at Rs.69.29 per litre, the lowest recorded price for the month with the overall performance showing a decline of -2.44%.

Monthly Petrol Price Trend in Chandigarh for January 2020:

Monthly Petrol Price Trend in Chandigarh for December 2019:

• The petrol price in Chandigarh opened at the rate of Rs.70.85 per litre for the month of December 2019. The rate of the fuel further increased towards the end of the month.
• The price of the Brent crude oil in the international market witnessed an overall increase of 24% in the year of 2019. The prices were affected by the expectations of the US-China trade deals. In the international market, the price of crude oil increased.
• For the month of December 2019, the price of petrol closed in Chandigarh at the rate of Rs.71.03 per litre. This was also the highest recorded price of the fuel for the month. The lowest recorded price of the fuel in Chandigarh was Rs.70.55 per litre between 19th December and 26th December. There was an overall rise of 0.24% in the performance of the fuel.

Trend of Petrol Price in Chandigarh for November 2019 (rates per litre):

Monthly Petrol Price Trend in Chandigarh for November 2019:

• Petrol price in Chandigarh stood at Rs.68.85 per litre, 12 paise lower than the previous day’s closing price. With the upcoming US and European economic data, the crude oil prices were relaxed across the globe.
• Petrol prices improved from the second week onward with petrol closing at Rs.69.41 per litre on the 14th of November.
• Prices improved further in the third week, with petrol climbing up to Rs.70.11 per litre on the 21st of November.
• Petrol rate in Chandigarh closed the month at Rs.70.74 per litre, its highest recorded price for the month of November. The overall performance of petrol was 2.74%, trending upwards.

Trend of Petrol Price in Chandigarh for October 2019 (rates per litre):

Monthly Petrol Price Trend in Chandigarh for October 2019:

• Petrol price in Chandigarh stood at Rs.70.55 per litre on the 1st of October, its highest recorded price for the month.
• Petrol saw a gradual decline in its prices soon amidst global economic crisis and seemingly weak demand for fuel.
• Prices slumped further in the third week, with the oil closing at Rs.69.29 per litre.
• Petrol rate in Chandigarh closed the month at Rs.68.96 per litre, its lowest recorded price for the month of October. Fuel suffered in the international market to due to an unprecedented rise in US inventories and the looming economic slump. The overall performance of petrol in Chandigarh was -2.25%, trending downwards

Monthly Petrol Price Trend in Chandigarh for October 2019:

• Petrol price in Chandigarh stood at Rs.70.55 per litre on the 1st of October, its highest recorded price for the month.
• Petrol saw a gradual decline in its prices soon amidst global economic crisis and seemingly weak demand for fuel.
• Prices slumped further in the third week, with the oil closing at Rs.69.29 per litre.
• Petrol rate in Chandigarh closed the month at Rs.68.96 per litre, its lowest recorded price for the month of October. Fuel suffered in the international market to due to an unprecedented rise in US inventories and the looming economic slump. The overall performance of petrol in Chandigarh was -2.25%, trending downwards

Trend of Petrol Price in Chandigarh for September 2019 (rates per litre)

Monthly Petrol Price Trend in Chandigarh for September 2019:

• Petrol price in Chandigarh opened the month of September at Rs.68.05 per litre. The rates were similar to the previous day’s prices. Petrol prices dropped marginally towards the end of the first week after staying constant for the first four days.
• At the start of the second week, the prices dropped to Rs.68.80 per litre, the lowest recorded price for the month. However, the rates increased through the week due to US – Iran tensions and closed at Rs.68.04 per litre.
• The Petrol rate in Chandigarh jumped considerably in the third week after Saudi Aramco facilities, the world’s largest petrol processing facility that is in Saudi Arabia were attacked using drones. The prices witnessed a hike of Rs.1.30 per litre.
• In the final week of September, petrol prices continued to increase and closed the month at Rs.70.35 per litre. The overall performance of petrol in Chandigarh for September was 3.37%, trending upwards.

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

August 2019 – Week 1 (1-7):

• Petrol price in Chandigarh when the week began stood at Rs.68.83 per litre – the highest rate recorded during the first week of the month – influenced by the marginal increase in crude oil prices amid declining US inventories and as investors awaited a possible rate cut by the US Federal Reserve.
• During the week, pricesof petrol in Chandigarh dropped to touch the lowest rate for the week when a litre was sold at Rs.68.30 per litre on 6 August and remained unchanged until the end of the week marked largely due to the decline of crude oil prices.
• Overall, the first week witnessed a decline of 0.77% attributed by the falling crude oil prices in the international market due to the decrease in US inventories signaling a weaker demand as well as due to the additional imposition of tariffs by the US administration on Chinese imports.

August 2019 – Week 2 (8-14):

• Petrol price in Chandigarh opened at Rs.68.26 per litre on 8 August, recording a 4 paise drop from previous day’s closing price.
• Petrol dipped further by 14 paise on the next day, standing at Rs.68.14 per litre. The dip was primarily due to the ongoing US-China trade tensions, fueled further by Trump administration’s decision to impose more tariffs on Chinese imports. Rise in US inventories was also one of the primary reasons for the dip.
• Petrol price in Chandigarh dropped marginally in the next few days before stabilising at Rs.68.03 per litre. The overall performance compared to the opening day was -1.16% trending downwards. Meanwhile, in the international oil market, crude prices dropped due to possible supply cuts amidst looming global economic crisis.

August 2019 – Week 4 (22-31):

• Price of Petrol in Chandigarh opened at Rs.67.89 per litre on 22nd August, unchanged from previous day’s closing price and its lowest recorded price for the month of August. After stabilising for the next few days, petrol prices went up marginally, recording Rs.68.11 per litre on 26 August. In the international oil market, crude gained after US inventories recorded a substantial slump.
• Petrol prices were slashed by 6 paise, recording Rs.68.05 per litre. Petrol remained unchanged till the end of the week and closed the month with the same price.
• Overall, petrol’s performance in Chandigarh was -1.13%, trending downwards. In the international oil market, crude slumped after concerns about the strength of US economy.

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

July 2019 – Week 1 (1-7):

• Petrol price in Chandigarh recorded at Rs.66.61 per litre, a slight increase of Rs.0.09 from the previous day’s closing rate. The increase was due to major oil marketing companies deciding to revise the rates.
• Petrol witnessed a slight rise on 2 July, recording at Rs.66.67 per litre. The slight surge of Rs.0.06 could be attributed to the revised rates as decided by the oil marketing companies. Petrol remained constant for the next few days till 6 July.
• Chandigarh petrol witnessed a major surge in the prices on 7 July, trending at Rs.68.97 per litre. This hike could be attributed to the Indian Government’s latest announcement during Budget 2019 to raise excise duty and road and infrastructure cess on petrol and diesel.

July 2019 – Week 2 (8-14):

• Petrol price in Chandigarh remained similar to that of previous day’s closing price, recording at Rs.68.97 per litre. The prices remained stagnant as traders analysed the ongoing US-China tension that might affect the global economy.
• Prices slumped a bit on 9 July, recording at Rs.68.92 per litre and remained unchanged for the next few days amidst the ongoing geopolitical tensions.
• Chandigarh petrol price saw a substantial hike on 14 July, which stood at Rs.69.09 per litre. The hike could be attributed to the ongoing tensions in the Middle East. Brent crude prices were up by 0.6%. On the other hand, US oil manufacturers in the Gulf of Mexico were forced to resort to massive supply cuts in the wake of tropical storm.

July 2019 – Week 3 (15-21):

• Petrol in Chandigarh opened at Rs.69.21 per, a 12 paise increase than previous day’s closing price. The rise in price is due to a mix of couple of factors with the ongoing US-China trade tension being one of the major factors. However, on 15 July, China reported their slowest quarterly economic growth, thereby indicating a possible slump in the prices.
• Petrol prices continued to trend upwards despite China’s economic slowdown and the increase in oil supply from the Gulf of Mexico after Hurricane Barry prompted the oil producers to resort to supply cuts.
• Petrol prices in Chandigarh, closed at Rs.69.35, the highest of the week and in the month of July (till 21 July). This hike could be attributed to the ongoing Middle East skirmishes. Speculations are on that crude oil could go up even further if the Iran-US tension worsens.

July 2019 – Week 4 (22-28):

• Petrol in Chandigarh on 22 July stood at Rs.69.35 per litre, no change compared to the previous day’s price. However, crude oil prices were up in the international oil market after the International Energy Agency (IEA) said that it may act, if required, to keep markets stable amid rising tensions in the Middle East.
• Prices rose to touch the highest for the week when a litre of petrol in the city was sold at Rs.69.40 per litre while crude oil prices were down due to weak demand and supply cuts led by the Organistaion of Petroleum Exporting Countries (OPEC) and its allies.
• By the end of the week, the petrol price in Chandigarh were down to Rs.69.15 per litre while crude oil prices fell marginally amid declining US inventories indicating a weak demand as well as a possible shooting of a second Iranian drone by the US navy.

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

July 2019 – Week 2 (8-14):

• Petrol price in Chandigarh remained similar to that of previous day’s closing price, recording at Rs.68.97 per litre. The prices remained stagnant as traders analysed the ongoing US-China tension that might affect the global economy.
• Prices slumped a bit on 9 July, recording at Rs.68.92 per litre and remained unchanged for the next few days amidst the ongoing geopolitical tensions.
• Chandigarh petrol price saw a substantial hike on 14 July, which stood at Rs.69.09 per litre. The hike could be attributed to the ongoing tensions in the Middle East. Brent crude prices were up by 0.6%. On the other hand, US oil manufacturers in the Gulf of Mexico were forced to resort to massive supply cuts in the wake of tropical storm.

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

June 2019 – Week 1 (2-8):

• Petrol price in Chandigarh stood at Rs.67.58 per litre at the beginning of the month on 2 June. It recorded a marginal increase compared to the previous day owing to a fall in prices of crude oil.
• Petrol prices continued its downward trend throughout the week and hit Rs.67.18 per litre on 7 June.

• By the end of the week, there was a further fall in petrol price in Chandigarh which stood at Rs.67.05 per litre on 8 June.

June 2019 – Week 2 (9-15):

• The price of petrol remained stable as the state-run Oil Marketing Companies (OMCs) did not change at the beginning of the second week. The price stood at Rs.67.05 per litre on 9 June.
• There was a marginal decrease in the petrol price throughout the week. It hit Rs.66.57 for 3 days straight till 13 June.
• The price declined even further towards the end of the week and hit Rs.66.16 per litre on 15 June. The price fall can be attributed the decrease in crude oil prices on the back of an ongoing trade war between the US and China.

June 2019 – Week 3 (16-23):

• On June 16, petrol price in Chandigarh hit Rs.66.1 per litre. The price remained unchanged throughout the week in the state. The lowest rate of the petrol was Rs.66.10 in the week.
• There was no change in the price of petrol in Chandigarh as there was a decline in crude oil prices on the back of the indication that there will be a possible slowdown in the global economy.
• The week ended on 23 June with petrol price hitting Rs.66.1 per litre. The economic slump has been attributed to the US-China tariff war and supply cuts led by the OPEC and its allies.

June 2019 – Week 4 (24-30):

• At the beginning of last week June, the price of the petrol stood at Rs.66.22 per litre on 24 June. There was a marginal increase in the price from the previous day. It remained unchanged till 26 June.
• The price of petrol recorded an increase towards the end of the week owing to a spike in the price by oil companies by 30 paise compared to the opening price of this week. On the last dat of the week on 24 June, the petrol price stood at Rs.66.52
• Throughout the week, the petrol prices dropped by 1.43% mainly due to a noticeable drop in crude oil prices as traders awaited the outcome of the G20 summit as well as expectations that OPEC will continue to limit production.

Quarterly Petrol Price Trend in Chandigarh Between January and March 2019

Quarterly Petrol Price Trend in Chandigarh Between October and December 2018

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

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

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

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.