Petrol Price In Chennai Today

  • Today's Petrol Price in Chennai( 19 Feb 2020 )
    ₹ 74.64
    Current Petrol Price Per Litre
    Compare Petrol Price in Chennai (Today & Yesterday)
    Today
    (19 Feb 2020)
    Yesterday
    (18 Feb 2020)
    Rate Change
    Petrol ( / litre) ₹ 74.64 ₹ 74.64 ₹ 0 ↑
    Petrol Price in Chennai - Last 10 Days Data
    Date Petrol ( / litre)
    19 Feb 2020 ₹ 74.64
    18 Feb 2020 ₹ 74.64
    17 Feb 2020 ₹ 74.69
    16 Feb 2020 ₹ 74.69
    15 Feb 2020 ₹ 74.69
    14 Feb 2020 ₹ 74.69
    13 Feb 2020 ₹ 74.69
    12 Feb 2020 ₹ 74.69
    11 Feb 2020 ₹ 74.69
    10 Feb 2020 ₹ 74.86

    Petrol Rate Trend in Chennai

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    Find the current petrol price in Chennai and factors affecting price of petrol in India. The below petrol rate trend in Chennai offers insights such as the highest and lowest petrol prices recorded during a month.

    Trend of Petrol Price in?Chennai for February 2020 (Rates per litre):

    Parameters Rates/litre
    1st February Rs.76.01
    7th February Rs.75.47
    Highest Rate in February Rs.76.01
    Lowest Rate in February Rs.75.47
    Overall Performance Decline
    Percentage Change -0.71%

    February - Week 1 (1-7):

    • Petrol price in Chennai stood at Rs.76.01 per litre on the 1st of February, unchanged from its previous day’s closing price. In the international oil market, there’s been a squeeze on oil demand owing to China’s fast spreading coronavirus.
    • The state-run oil marketing companies decided to cut petrol rates further. Petrol closed the week at Rs.75.47 per litre.
    • The overall performance of petrol in Chennai was -0.71%, trending downwards.

    Trend of Petrol Price in Chennai for January 2020 (Rates per litre):

    Parameters Rates/litre
    1st January Rs.78.10
    31st January Rs.76.15
    Highest Rate in January Rs.79.04
    Lowest Rate in January Rs.76.15
    Overall Performance Decline
    Percentage Change -2.49%

    January - Week 1 (1-7):

    • In Chennai, the price of petrol opened at the rate of Rs.78.10 per litre for the first week of January 2020.
    • There was a hike of more than 2% in the price of Brent crude oil in the international market. The main reason behind this hike was the threat from the US President Donald Trump to impose curbs on Iraq in the light of the recent war-like situation in the Middle East.
    • The price of petrol in Chennai closed at the rate of Rs.78.43 per litre for the first week of January 2020. This was the highest recorded rate of the fuel for the week. Based on the opening and the closing rates of the fuel in Chennai, the overall performance of the fuel witnessed an increase of 0.96%.

    January – Week 2 (8-14):

    • Petrol price opened the second week of January at Rs.78.75 per litre in the southern metropolitan city of Chennai. The rates charged for a litre of petrol was slashed by 10 paise per litre when compared to the previous week’s closing price.
    • In Chennai, the rates of the fuel climbed over the next three days due to the turmoil in global oil markets as a result of the US – Iran standoff. The jump in the prices saw every litre of petrol being retailed for Rs.79.04 in Chennai on 11 January.
    • The rates of petrol in the metropolitan city closed the week at Rs.78.72 per litre after slipping slightly as the tensions between both the countries eased. Petrol’s overall performance in the city was 0.79%, trending upwards.

    January – Week 3 (15-21) :

    • Petrol price in Chennai opened at Rs.78.72 per litre on the 15th on January, unchanged from the previous day’s closing price. However, prices dropped on the following days.
    • Petrol stood at Rs.78.07 per litre on the 19th of January, marking a gradual drop from its opening day’s price.
    • Petrol dropped further, closing the week at Rs.77.79 per litre as state-run oil marketing companies decided to slash rates, its lowest recorded price for the month of January 2020. Overall performance of petrol in Chennai was –0.39%, trending downwards.

    January – Week 4 (22-28):

    • In Chennai, petrol price opened the fourth week of January at Rs.77.79 per litre. There was no change in the prices when compared to the previous week’s closing price.
    • Over the week, the rates of petrol slipped by Rs.1.29 per litre in the southern metropolitan city. This was accounted to concerns that the demand for global oil will take a hit due to the impact of the coronavirus on the Chinese economy.
    • Petrol rate closed the week at Rs.76.5 per litre. In Chennai, this was the lowest recorded price of the fuel for the month till date. The fuel’s overall performance showed a decline of -2.04%.

    January – Week 5 (29-31):

    • Petrol price in Chennai stood at Rs.76.50 per litre on the 29th of January, unchanged from its previous day’s closing price. Prices fluctuated in the international market owing to coronavirus and its effect on the Chinese economy.
    • Petrol closed the month at Rs.76.15 per litre, its lowest recorded price for the month of January.
    • The overall performance of petrol in Chennai was -2.49%, trending downwards.

    Trend of Petrol Price in Chennai for December 2019 (Rates per litre)

    Parameters Rates/litre
    1st December Rs.77.89
    29th December Rs.77.83
    Highest Rate in December Rs.77.95
    Lowest Rate in December Rs.77.56
    Overall Performance Decline
    Percentage Change -0.07%

    December - Week 1 (1-7):

    • Petrol price in Chennai stood at Rs.77.89 per litre on the 1st of December, 13 paise higher than the previous day’s closing price.
    • Petrol remained stable for the next few days at Rs.77.89 per litre.
    • Prices dipped on the 7th of December, with petrol closing at Rs.77.80 per litre, a 9 paise drop from the previous day’s closing price. Overall performance of petrol in Chennai was -0.11%, trending downwards.

    December - Week 2 (8--14):

    • Petrol price in Chennai stood at Rs.77.89 per litre on the 8th of December, 9 paise higher than its previous day’s closing price.
    • Prices improved on the next day with growing demand for the oil. Petrol stood at Rs.77.95 per litre, its highest recorded price in the month of December.
    • However, staying stable for a couple of days, petrol prices dipped with petrol closing the week at Rs.77.79 per litre. Overall performance of petrol in Chennai was -0.12%, trending downwards.

    December - Week 3 (15 - 21):

    • In Chennai, petrol started the third week of December at Rs.77.68 per litre. Compared to the previous day’s closing price, the rates fell by 11 paise for every litre.
    • The rates continued to fall in the next few days as Oil Marketing Companies cut the prices due to low demand. A litre of petrol was retailed for Rs.77.56 in the metropolitan city as of 19 December.
    • Petrol closed the week at Rs.77.56 per litre. This was the lowest recorded price for the fuel in the month till date. The overall performance of petrol in Chennai was -0.42%, trending downwards.

    December - Week 4 (22 - 29):

    • Petrol price started the fourth week of December at Rs.77.56 per litre in Chennai. There was no change in the prices when compared to the previous week’s closing price.
    • The rates remained unchanged until 26 December as Oil Marketing Companies (OMCs) waited for the United States and China to sign a trade pact.
    • Petrol closed the week at Rs.77.83 per litre after the price of international crude oil increased on the hopes of a breakthrough in the trade tensions between both the countries. The overall performance of the fuel in Chennai was -0.07%, trending downwards.

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

    Parameters Rates/litre
    1st October Rs.77.56
    31st October Rs.75.78
    Highest Rate in October Rs.77.56
    Lowest Rate in October Rs.75.78
    Overall Performance Decline
    Percentage Change -2.29%

    October - Week 1 (1-7):

    • In Chennai Petrol price opened the month of October at Rs.77.56 per litre. The prices increased by 22 paise per litre since the previous day’s closing price. It was the highest recorded price for the month so far.
    • After staying constant for the next day, petrol price in Chennai declined considerably in the metropolitan city as crude oil prices cooled down and reversed all gains. On October 5, a litre of petrol cost Rs.76.96.
    • The petrol rate closed the week at Rs.76.67 after the prices fell by another 29 paise on October 7. It was the lowest recorded price for the month till date. The overall performance of petrol in Chennai was -1.14%

    October - Week 2 (8 – 14):

    • Petrol price in Chennai opened the second week of October at Rs.76.49 per litre. The rates for every litre were down by 18 paise when compared to the previous day’s closing price.
    • The rates dropped by 28 paise per litre in the next three days after staying constant for a day. The decline in the prices was accounted to crude oil prices sliding in the international oil market. Concerns regarding global economic growth and demand for fuel as well as renewed geopolitical tensions in the Middle East were said to be reasons for the decline in the prices.
    • In the southern metropolitan city, petrol closed the week at Rs.76.21 per litre. This was the lowest recorded price for the month in Chennai till date. The overall performance of petrol was –1.74%, trending downwards.

    October - Week 3 (15 – 21):

    • In the southern metropolitan city of Chennai, petrol price opened the week at Rs.76.16 per litre. Compared to the previous day, the rates saw a fall of 5 paise per litre.
    • The petrol price in Chennai remained constant for the first few days of the week before declining by 1 paise per litre on 19 October to cost Rs.76.15 for every litre. International oil prices fluctuated throughout the week due to growing concerns regarding the demand for fuel across the world.
    • Petrol closed the week at Rs.76.15 per litre in Chennai. This was the lowest recorded price for petrol in the city for October till date. Petrol’s overall performance was -1.81%, trending downwards.

    October - Week 4 (22 – 28):

    • In Chennai, the price of petrol was Rs.76.10 per litre at the beginning of the fourth week. The rate of petrol witnessed a drop of 5 paise when compared to the rate of the previous day.
    • The Brent oil was being traded at a steady rate of over $60 per barrel in the international market. However, the price of crude oil witnessed an overall drop.
    • The fourth week closed with the petrol price in Chennai standing at Rs.75.85 per litre. This has been the lowest recorded price of petrol in the month of October. The overall performance of petrol dipped by -2.20% in Chennai.

    October - Week 5 (29-31):

    • Petrol price in Chennai opened at Rs.75.78 per litre on the 29th?of October, dropping 7?paise?from the previous day’s closing price. It’s also the lowest recorded petrol price in Chennai for the month of October. In the international oil market, prices remained stagnant despite Russia promising to pledge a deal with OPEC to keep a check on production and support prices.
    • Petrol rate in Chennai stood at Rs.75.78?on the 31st?of October, unchanged from its previous day’s closing price. Meanwhile, in the international oil market, crude prices dipped after an unprecedented rise in US inventories.
    • In the month of October, petrol saw a steady decline in its prices. The overall performance of petrol price in Chennai was -2.29%, trending downwards.

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

    Parameters Rates/litre
    1st September  Rs.74.77
    30th September Rs.77.34
    Highest Rate in September Rs.77.34
    Lowest Rate in September Rs.74.48
    Overall Performance Incline
    Percentage Change 3.43%

    September - Week 1 (1-7):

    • Petrol price in chennai opened at Rs.74.77 on 1 September. The rates were unchanged from the closing price of the previous day as the demand for oil was low.
    • The rates remained the same for the next few days even though crude oil prices in the international oil market climbed after trade talks with China in the coming months was confirmed by the United States.
    • Petrol plummeted in the last two days of the week before closing at Rs.74.55 per litre. The overall performance of the fuel in Chennai for the first week was trending downwards at -0.29%.

    September - Week 2 (8-14):

    • Petrol rate in Chennai opened at Rs.74.48 per litre on the 8th of September—7 paise lower than the previous day’s closing price. It’s also Chennai’s lowest recorded petrol price for the month of September till now. Meanwhile, in the international oil industry, crude futures dropped after participants reduced positions due to a weak trend in global markets.
    • Petrol price in Chennai remained unchanged for a day before rising slightly again on 10 September, recording Rs.74.54 per litre. The hike was primarily due to a sharp drop in US inventories.
    • Petrol kept trending upwards, closing the week at Rs.74.76 per litre. Though the overall performance of petrol was -0.01%, the market forecast suggests that the prices are going to shoot up in the coming days.

    September - Week 3 (15-21):

    • Petrol price in Chennai opened at Rs.74.82 per litre on the 15th of September - 6 paise higher than the previous day’s closing price.
    • After staying stable for a day, petrol rates soared, recording Rs.74.97 per litre on 18 September. Meanwhile, in the international market prices slid after Saudi Arabia’s energy minister stated the kingdom will restore lost oil production by the end of the month.
    • In Chennai petrol price closed the week at Rs.76.21 per litre, its highest recorded price in the month of September. The substantial increase in petrol prices was primarily due to last week’s drone attack on Saudi Arabia’s Aramco oil refinery. The overall performance of petrol in Chennai was 1.92%, trending upwards.

    September - Week 4 (22-30):

    • In Chennai, petrol price opened at Rs.76.49 per litre on the 22nd of September. The rates charged were 28 paise higher than the previous day’s closing price.
    • Due to geopolitical tensions, the prices soared in the next few days. The drone attacks on Saudi Arabia’s Aramco oil refinery also played a key role in the substantial increase of petrol prices. The rates jumped to Rs.77.25 per litre on September 27 before remaining constant for the next two days.
    • Petrol price in Chennai closed the week at Rs.77.34 per litre. This was the highest recorded price in the month of September in the southern metropolitan city. Petrol’s overall performance for the month of September was 3.43%.

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

    Parameters Rates/litre
    1st August Rs.75.65
    31st August Rs.74.77
    Highest Rate in August Rs.75.65
    Lowest Rate in August Rs.74.59
    Overall Performance Decline
    Percentage Change -1.16%

    August 2019 – Week 1 (1-7):

    • Petrol price in Chennai opened at Rs.75.65 per litre on 1 August, 6 paise lower than the previous day’s closing price. State-run oil marketing companies decided to reduce the rates owing to weak demand of the oil. Meanwhile, in the international crude oil market, crude prices dropped after the possibility of a possible rate cut initiated by the US Federal Reserve got squashed. However, diesel prices remained stable without undergoing any price change.
    • Petrol rate slumped further, recording Rs.75.48 per litre on 2 August, marking a drop of 17 paise per litre. Prices kept trending downwards with petrol closing at Rs.75.14 per litre on 5 August. In the international oil market, crude prices fell amid worries over weak demand of the oil after the Trump administration declared that it would impose tariffs on more Chinese imports.
    • Chennai Petrol price remained unchanged from its previous day’s closing price (6 August) and closed the week at Rs.75.05 per litre, recorded on 7 August, its lowest price till now for the month of August. The overall decline in petrol price recorded in the first week of August is -0.79%. Meanwhile, in the international oil market, crude dropped owing to US-China trade tensions. With Trump announcing to impose more tariffs on Chinese imports, crude prices can drop further in the coming days.

    August 2019 – Week 2 (8-14):

    • Petrol price in Chennai opened at Rs.75.65 per litre on the second week of August, recording a 6 paise drop from previous day’s closing price.
    • Petrol dropped further by 17 paise on the next day, standing at Rs.75.38 per litre. The dip was primarily due to the ongoing US-China trade tensions, fuelled further by Trump administration’s decision to impose more tariffs on Chinese imports.
    • Petrol price in Chennai slumped slightly in the next few days before stabilising at Rs.74.74 per litre. The overall performance compared to the opening day was -1.20% (decline). Meanwhile, in the international oil market, crude prices dropped due to possible supply cuts amidst looming global economic crisis and rise in US inventories.

    August 2019 – Week 3 (15-21):

    • Petrol price in Chennai opened at Rs.74.74 per litre on 15 August, similar to previous day’s closing rate.
    • Petrol remained unchanged for the next few days before dropping to Rs.74.66 per litre—recording a drop of 8 paise.
    • Petrol closed the week at Rs.74.59 per litre—its lowest recorded price in the month of August. The overall performance of petrol in Chennai was -1.40%, trending downwards. However, in the international oil market, crude prices went up following a drop in US inventories. The gains were miniscule though due to poor demand of the oil owing to sluggish economic growth globally.

    August 2019 – Week 4 (22-31)

    • Petrol price in Chennai opened at Rs.74.59 per litre, unchanged from previous day’s closing price. After staying stagnant for the next few days, petrol prices went up marginally, recording Rs.74.83 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 on the next day, recording Rs.74.77 per litre. Petrol remained unchanged till the end of the week.
    • Overall, petrol’s performance in Chennai was -1.16%, trending downwards. In the international oil market, crude slumped after concerns about the strength of US economy.

    Petrol Rate in Chennai:

    Chennai, the capital city of Tamil Nadu, is a renowned south Indian city for education, culture, and tourism. The city is also known as the Detroit of South Asia.

    Being a famous tourist destination, the city offers excellent public transportation facilities. The connectivity offered within the city is at par with other metro cities of India. Chennai is a well-connected city for indigenous and overseas visitors. The local bus facility is a widely used mode of transportation followed by auto rickshaws, suburban railway network, maxi cabs, and mini private buses. The cost of living seems moderate in the city.

    Among all industry verticals, the manufacturing and car segments are gaining more importance. The transportation sector is in demand. Namakkal district is the transportation hub of the city. The district accounts for at least 40% of trucks operated throughout Tamil Nadu. Sankagiri, well-known for truck body constructing, is another notable region of Chennai.

    Diesel-run vehicles are widely used, leading to an increase in the diesel consumption rate. The number of petrol-run vehicles in the town is as much as it can be in a metro city.

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

    Parameters Rates/litre
    1st July Rs.73.18
    28th July Rs.76.01
    Highest Rate in July Rs.76.29
    Lowest Rate in July Rs.73.18
    Overall Performance Incline
    Percentage Change 3.86%

    July 2019 – Week 1 (1-7):

    • Petrol price in Chennai opened at Rs.73.18 per litre on 1 July, an increase of 10 paise. The hike was primarily due to the oil marketing companies increasing petrol prices by 9 paise per litre.
    • Prices were recorded at Rs.73.24 per litre on 2 July, a hike of 6 paise. This was again in accordance with the latest revision in petrol prices initiated by the oil marketing companies. The prices remained constant till 6 July.
    • On 7 July, Chennai petrol price was recorded its highest price of the week, standing at Rs.75.81 per litre. This steep increase was primarily due to the Government’s announcement to increase excise duty and road and infrastructure cess on petrol by Rs.2 per litre.

    July 2019 – Week 2 (8-14):

    • When the week began, petrol in Chennai was priced at Rs.75.81 per litre, unchanged compared to yesterday’s price after the Union Government announced to hike the excise duty on petrol and diesel by Rs.2 per litre to fund its social welfare schemes.
    • State-controlled Oil Marketing Companies (OMCs) reduced the petrol price in Chennai to Rs.75.76 per litre. This remained unchanged until 12 July amid a slight decline in crude oil prices due to supply cuts by the OPEC and allies despite tensions in the Middle East.
    • Overall, petrol prices were up marginally by 0.19% largely driven by the stable crude oil price in the international market prompted by the production cuts by the OPEC even after tensions between the US and China over trade between the two nations and in the Middle East.

    July 2019 – Week 3 (15-21):

    • Petrol was priced at Rs.76.08 per litre on 15 July – the lowest price recorded for the week despite rising crude oil prices in the oil market after China reported the slowest quarterly economic growth amid concerns of demand from the world’s largest crude oil importer.
    • Prices of petrol in Chennai during the week continued to rise influenced by the incline in crude oil prices in the international market and touched a weekly high of Rs.76.23 per litre on 18 July and remained unchanged until 21 July.
    • By the end of the week, prices inclined marginally attributed by the rise in crude oil prices due to tensions in the Middle East after the US shot down an Iranian drone and the slowdown of the Chinese economy indicating a drop in demand from China.

    July 2019 – Week 4 (22-28):

    • Petrol price in Chennai opened at Rs.76.23 per litre, unchanged from previous day’s closing price. State-run oil marketing companies decided not to alter the prices after forecasting weak demand in the global crude oil market.
    • Petrol rose marginally by 6 paise on the next day, recording at Rs.76.29 per litre. The slight rise could be due to the ongoing Middle East skirmishes and a huge fall in US inventories.
    • Petrol in Chennai started to drop from 25 July and closed the week at Rs.76.01 per litre on 28 July. The price drop could be attributed to the weak demand of the crude oil among investors. A slow global economic growth added to demand concerns. With PPEN and Russia agreeing to extend supply cuts till May 2020, the international oil market is projected to be fairly balanced in 2019.

    Also Check Petrol Price in Metro Cities

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

    Parameters Rates /litre
    2nd June Rs.74.27
    30th June Rs.73.08
    Highest Rate in June Rs.74.27 on June 2
    Lowest Rate in June Rs.72.61 on June 16
    Overall Performance Decline-to-rise
    Percentage Change -1.60%

    June 2019 – Week 1 (2-8):

    • Petrol price in Chennai opened at Rs.74.27 per litre at the beginning of the month of June. There was a slight decline in the price from 31 May owing to a fall in crude oil prices in the worldwide oil market.
    • The price of petrol continued to decline throughout the week and hit Rs.72.61 on 16 June. It remained unchanged till 23 June.
    • The decrease in the petrol price can be attributed to the stabilisation of crude oil prices. Brent crude futures fell by 0.4% after declining sharply by 10% in the last four days.

    June 2019 – Week 2 (9-15):

    • The price of petrol at the beginning of the week on 9 June stood at Rs.73.68 per litre. It remained unchanged from the previous day.
    • The petrol price in Chennai declined throughout the week and reached Rs.72.68 on 15 June.
    • Mid-week, crude oil prices stabilised. Meanwhile, the worldwide demand for petrol is reducing because of the expected economic downtrend.

    June 2019 – Week 3 (16-23):

    • On 16 June, the petrol price in Chennai stood at Rs.72.68 per litre. It remained unchanged from the previous day.
    • The price remained unchanged throughout the week, despite the rise in crude prices amid tensions in the Middle East.

    June 2019 – Week 4 (24-30):

    • The price of petrol in Chennai stood at Rs.75.74 per litre on 24 June. The price continued to increase marginally throughout the week. There was a 1.60% decline between 2 June and 30 June.
    • On the last day of the month, the price of the petrol stood at Rs.73.08.
    • The rate of crude oil fell in global markets as a result of expectations on the G20 summit as well as a meeting of the OPEC and other oil producers.

    How are Petrol Prices in Chennai Assessed?

    The cost of crude oil, the refinery cost, the dealer’s commission, the profit margin of OMCs, the state VAT imposed on petrol, and the excise duty levied on petrol are the major components to form the retail selling price (RSP) of petrol in Chennai. Crude oil is traded globally in the USD. The cost oil is influenced by global supplies and reserves, the demand from leading countries, seasonal variations, weather conditions, and the exchange rate of the USD against the major currencies.

    Refinery expenses vary domestically. These are the expenses incurred by oil marketing companies to convert unrefined oil into petrol. OMCs then add a certain percentage of profit margin on every litre of petrol sold to retail petrol suppliers. The price charged to retail petrol suppliers is then taxed by the central and state governments.

    The central excise duty remains the same in the price structure of petrol in all parts of the country, including Chennai. The state VAT varies from one state to another. As on 1st January 2019, the VAT imposed on petrol by the state government of Tamil Nadu is 34%.

    The dealer’s commission is another element that may slightly change from dealer to dealer in Chennai and other cities of India. It depends upon the distance covered from supply stations to retail petrol stations. The higher the distance covered, the higher will be the dealer’s commission. The lower the distance covered, the lower will be the dealer’s commission.

    Which are the Factors Influencing Petrol Price in Chennai?

    Every petrol consumer somebody like you in Chennai would want to know why the cost of petrol changes over a period time. Let’s begin the central excise duty. As discussed earlier, it was recently revised on 4th October 2018. Since the duty has been cut by Rs.2.50 on petrol per litre, prices have now been lower compared to those before the revision.

    Another important factor that influences the buying cost of petrol in the city is the cost of raw oil, which is aligned to the currency exchange rate and the global supplies and reserves. If crude oil is in short supply globally, the buying cost of oil will increase. If the supply of oil is at par with global requirements, then the buying cost of oil will be moderate.

    Being a base currency, the performance of the USD is measured against the currencies of major economies such as Australia, the United Kingdom (UK), Japan, and New Zealand. When the INR is falling against the USD, crude oil prices will increase respectively; when the INR strengthens against the USD, prices will fall accordingly.

    Political events in oil-producing countries can cause changes in oil prices, which in turn impact petrol prices in Chennai. How about the local tax imposed on petrol? In fact, this is also a major influencer. All these elements directly impact the cost price of petrol in Chennai.

    Influence of GST on Petrol Price in Chennai:

    What is the highest GST rate fixed till date? It is undeniably 28%. Besides petroleum products, petrol does not fall under the purview of GST, which stands for Goods and Services Tax. All tax elements in the current price breakup of petrol price should be eliminated if GST is to be imposed.

    The retail selling price (RSP) of petrol will fall by a big margin even if GST is enforced at its highest rate, i.e., 28%. The move harms the revenue source of the Tamil Nadu government and the central. Bringing petrol under the scope of GST is at the discretion of the central government.

    How about the oil and natural gas industry? The entire oil and natural gas industry has been kept outside the scope of GST. The industry has many participants, right from OMCs to petrol bunk owners. The GST implementation on the industry is likely to impact its participants adversely.

    For instance, industry stakeholders are required to adhere to double tax regimes, causing increased compliance costs. The GST council may consider increasing the tax rate to ensure petrol is brought under the GST regime and the revenue source of the state and the central remains unaffected.

    Petrol Costs in Chennai

    As we all know, on 4th October 2018, the central government lowered the excise duty by Rs.2.50 per litre on petrol and diesel, giving a big relief to consumers. Following the revision, petrol was priced at Rs.84.76 a litre in Chennai and diesel at Rs.77.16 on 5 October, declining by Rs.2.63 and Rs.2.68 per litre, respectively. The move overburdens the government by Rs.26,000 crore in yearly revenues and Rs.13,000 crore during the residual portion of the present financial year.

    Petrol Price in Chennai and Other Major Cities:

    The petrol price in Chennai is marginally higher compared to other major metro cities such as Delhi, Mumbai, Kolkata and Hyderabad as the local Value Added Tax (VAT) levied by the Tamil Nadu government is higher. As of 2018, Tamil Nadu charges 34% on petrol, while Delhi charges 27%, West Bengal at 25%, Maharashtra at 26% + Rs.7.12 per litre as additional tax and Andhra Pradesh levies 31% + Rs.2 per litre additional tax.

    Diesel Costs vs. Petrol Costs in Chennai:

    Diesel prices are much lower than petrol prices in India. Despite the basic cost of diesel after refining is higher than that of petrol, the taxes such as the excise duty and the local sales tax or VAT, makes diesel much cheaper than petrol.

    In Chennai, the petrol price, before VAT is included, is Rs.54.06 per litre and diesel costs Rs.53.42 per litre. However, with VAT included, it stands at Rs.72.44 per litre and Rs.66.77 per litre for petrol and diesel, respectively. These prices are as on 3 January 2019.

    Also Check Petrol Price in NearBy Cities of Chennai

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    *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 Chennai

    • Petrol prices cut by 23-25 paise per litre

      State-run Oil Marketing Companies (OMCs) on Sunday cut the rates of petrol by 23-25 paise. The reduction in the prices saw petrol being retailed for Rs.72.23 per litre in the national capital. In other metropolitan cities like Mumbai, Kolkata, and Chennai, a litre cost Rs.77.89, Rs.74.92, and Rs.75.04 respectively. In non-metropolitan cities like Noida and Gurugram, a litre of petrol cost Rs.74.10 and Rs.72.30 respectively.

      In the international oil market, the futures of Brent crude oil were down on Friday. The rates were down by 0.15 percent and was trading at $54.85 per barrel. The rupee also declined by 22 paise to settle at 71.40 against the US dollar. It was accounted to selling in domestic equities and strengthening of the American currency overseas.

      It must be noted here that the rates of petrol charged in the country are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is because India imports 80% of its total crude requirements.

      9 February 2020

    • Petrol prices slashed by 10-12 paise on Monday

      State-run Oil Marketing Companies on Monday slashed the rates of petrol across the major cities of the country. This was the fifth consecutive day when petrol prices were reduced by the OMCs. Following Monday’s revision, the rates of petrol were slashed by 10-12 paise across the metropolitan cities. In Delhi, consumers were required to shell out Rs.74.98 for a litre while in Mumbai, Kolkata, and Chennai a litre of petrol was retailed for Rs.80.58, Rs.77.58, and Rs.77.89 respectively. It must be noted here that the rates of petrol were the cheapest in the national capital among all metropolitan cities and state capitals due to low taxes.

      In non-metropolitan cities like Noida and Gurugram, petrol prices were slashed by 9 paise per litre. The cut in the prices saw every litre being retailed for Rs.76.23 in Noida and Rs.74.43 in Gurugram.

      In India, the rates of fuel are revised as per the dynamic pricing scheme which was adopted in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar.

      20 January 2020

    • OMCs continue to hike petrol prices in the country

      On Monday, the rates of petrol were hiked for the fifth consecutive day across the major cities of the country. The rates of the fuel were increased by 15 – 16 paise per litre following the daily revision. In Delhi consumers were required to shell out Rs.75.69 for a litre of petrol while in Mumbai, Kolkata, and Chennai a litre cost Rs.81.28, Rs.78.28, and Rs.78.64 respectively. In Noida and Gurugram, a litre of petrol was retailed for Rs.76.79 and Rs.74.99 respectively following the revision in the prices. It needs to be mentioned here that the rates of petrol are the cheapest in the national capital among all metropolitan cities and state capitals due to lower taxes.

      In the international oil market, Brent crude and US West Texas Intermediate (WTI) futures jumped by 2.4 and 2.1 percent on Monday after the US president issued a threat to impose curbs on Iraq amid rising tensions with Iran in the Middle East. Following the jump in the prices, Brent crude futures were trading at $70.27 per barrel while US West Texas Intermediate (WTI) were trading at $64.39 per barrel.

      It must be noted here that petrol prices have increased by 44 paise per litre since January 2 in the national capital.

      6 January 2020

    • Petrol prices see no change on Wednesday

      State-run Oil Marketing Companies (OMCs) on Wednesday decided to keep the rates of petrol unchanged across the major cities of the country. Following the revision in the prices, a litre of petrol was retailed for Rs.75.14 in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai consumers were required to shell out Rs.80.79, Rs.77.89, and Rs.78.12 respectively. In Noida and Gurugram, OMCs charged Rs.76.32 and Rs.74.53 respectively for a litre. It needs to be mentioned here that the price of petrol was the cheapest in the national capital among all metropolitan cities and state capitals due to low taxes.

      In India, the rates of fuel are revised daily as per the dynamic pricing scheme which was adopted in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is done in order to pass on the slightest benefit to the consumers and retailers if there is any change in the international oil prices.

      1 January 2020

    • Petrol prices increase by up to 11 paise on 9 December 2019

      On 9 December 2019, oil marketing companies that are managed by the state increased the prices of diesel by up to 11 paise across the major cities in India. No changes were made to the prices of petrol on 8 December 2019.

      According to the data available on the website of Indian Oil Corporation, the prices of petrol increased by 5 paise in Delhi and hit Rs.75 for a litre. However, the price of petrol is the cheapest in Delhi when compared to all other metros as lower taxes are levied. In Mumbai, Kolkata, and Chennai, the prices of petrol increased by 5 paise and hit Rs.80.65, Rs.77.67, and Rs.77.97 for a litre, respectively. The price of petrol in Gurugram and Noida increased by 11 paise and hit Rs.74.49 and Rs.76.29 for a litre, respectively. As over 80% of India’s crude requirements are imported, the prices of petrol are dependent on crude prices in the international market and the rupee to the dollar exchange rate. Crude prices in the global oil markets decreased on 9 December after the overall exports of China’s goods and services decreased for the fourth month in a row. Concerns have been raised in the trade talks between China and the US due to this. Brent crude prices in the international market decreased by 0.3% and were trading at $64.18 for a barrel.

      9 December 2019

    • Prices of petrol increase by 15 paise on 14 November 2019

      Petrol prices increased by 11-16 paise across the four metros in India on 14 November 2019. According to the official website of Indian Oil Corporation, the price of petrol in Delhi increased by 15 paise and hit Rs.73.45 for a litre.

      The prices of petrol remained the same on 13 November 2019 when compared to 12 November 2019. The price of petrol in Delhi is the cheapest when compared to other metros cities and most state capitals because of low taxes. In Kolkata and Mumbai, the prices of petrol increased by 15 paise and hit Rs.76.15 and Rs.79.12 for a litre, respectively. In Gurugram, the price of petrol increased by 12 paise and hit Rs.73.28 for a litre. The price of petrol in Noida increased by 11 paise and hit Rs.75.07 for a litre, respectively. According to the daily pricing mechanism of India, the prices of petrol are determined by the US dollar to rupee exchange rate and the global crude prices. More than 80% of India’s crude requirements are imported.

      14 November 2019

    • Petrol prices kept unchanged in the country on Sunday

      State-owned Oil Marketing Companies (OMCs) on Sunday decided to keep the rates of petrol constant after three days of decline in the prices. Following Sunday’s revision, a litre of petrol was retailed for Rs.72.98 in the national capital. Consumers residing in the commercial capital i.e., Mumbai were required to shell out Rs.78.60 for a litre. In the other two metropolitan cities i.e., Kolkata and Chennai OMCs charged Rs.75.63 and Rs.74.79 respectively. In cities like Noida, Gurugram, and Bengaluru OMCs charged Rs.74.66, Rs.72.86 and Rs.75.41 per litre on Sunday. Among all the metropolitan cities and state capitals, the cost for a litre of petrol was the cheapest in the national capital as the tax imposed on the fuel was low.

      It needs to be mentioned here that the prices of fuel in the country are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is primarily because OMCs adopted the dynamic pricing scheme in June 2017 as well as the fact that 80% of the total crude requirement of the country is imported.

      27 October 2019

    • Petrol prices remain unchanged on Monday

      The prices of petrol were kept unchanged for the sixth consecutive day on Monday. Of late, state-run Oil Marketing Companies (OMCs) have refrained from increasing or slashing the prices of petrol across the major cities of the country even though the rates of diesel have been some changes.

      On Monday, a litre of petrol was sold for Rs.73.27 in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai, a litre was retailed for Rs.78.88, Rs.75.92, and Rs.76.09 respectively. The rates charged in Delhi are the cheapest among all the metropolitan cities due to lower taxes. It needs to be mentioned here that the prices for every litre of petrol have declined by Rs.1.34 so far this month in the national capital. In non-metropolitan cities like Noida and Gurugram, consumers were required to shell out Rs.74.89 and Rs.73.09 respectively for a litre.

      In India, OMCs revise the rates of petrol on a daily basis after they adopted the dynamic pricing scheme in June 2017. As per the dynamic pricing scheme, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar.

      21 October 2019

    • No changes in petrol prices on September 29

      Major cities in India did not see any changes in petrol prices on 29 September 2019. According to the official website of Indian Oil Corporation, petrol prices were at Rs.74.44 for a litre in Delhi. 

      Due to the low taxes, Delhi has the lowest petrol prices when compared to other major cities. State-run Marketing companies did not make any changes to the prices of petrol. Petrol prices in Kolkata and Mumbai were Rs.77.03 and Rs.80.66 for a litre, respectively. The petrol prices at Gurugram, Noida, and Chennai were Rs.73.98, Rs.75.77, and Rs.77.28 for a litre, respectively. In the global oil market, crude oil prices increased on 27 September 2019 by 0.48% and hit Rs.3,993 for a barrel. According to analysts, the crude prices were high because of a strong overseas trend and good demand. The international benchmark, Brent crude, increased by 0.77% and hit $62.26 for a barrel. The price of diesel and petrol in India are dependent on the US dollar-rupee exchange rate and global crude prices. India imports over 80% of its crude requirements. 

      30 September 2019

    • Petrol prices remain stable on Wednesday after eight days of continuous increase

      State-run Oil Marketing Companies (OMCs) on Wednesday kept the rates of petrol constant in the country. The halt in the increase of the prices came after a period of eight days when petrol prices increased by 2.10 per litre.

      Following Wednesday’s revision in the prices, a litre of petrol was retailed for Rs.74.13 in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai, a litre cost Rs.79.79, Rs.76.82, and Rs.77.06 respectively.

      The recent climb in petrol prices across the country was accounted to the drone attack on Saudi Arabia’s oil facilities. The attack knocked out 5.7 million barrels of production or about 60 per cent of what Saudi Arabia currently produces. It needs to be mentioned here that the attack, which was the largest supply disruption in history shook the global oil markets and disabled it by around 5 percent of the global supply. Given the fact that India imports around 2,00,000 tonnes of LPG every month from Saudi Arabia, the attacks have had a huge bearing on the retail prices of petrol in the country.

      25 September 2019

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

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