Petrol Price In Coimbatore Today

  • Today's Petrol Price ( 13 Oct 2019 )
    ₹ 76.58
    Current Petrol Price Per Litre
    Compare Petrol Price in Coimbatore (Today & Yesterday)
    Today
    (13 Oct 2019)
    Yesterday
    (12 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.58 ₹ 76.58 ₹ 0 ↑
    Petrol Price in Coimbatore - Last 10 Days Data
    Date Petrol ( / litre)
    13 Oct 2019 ₹ 76.58
    12 Oct 2019 ₹ 76.58
    11 Oct 2019 ₹ 76.68
    10 Oct 2019 ₹ 76.81
    09 Oct 2019 ₹ 76.86
    08 Oct 2019 ₹ 76.86
    07 Oct 2019 ₹ 77.04
    06 Oct 2019 ₹ 77.33
    05 Oct 2019 ₹ 77.33
    04 Oct 2019 ₹ 77.64

    Petrol Rate Trend

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    Petrol Price in Coimbatore

    Coimbatore is a district in Tamil Nadu. It is a well-connected city as far as fuel dealers are concerned. Majorly, petrol is distributed through Bharat Petroleum fuel dealers, Hindustan Petroleum fuel dealers and Indian Oil fuel dealers. The commission collected by the fuel dealers of these three oil companies remains unchanged. There will be a minute variation in transportation costs, which are incurred to supply petrol to fuel stations from refinery centres. As a result, petrol prices in different localities of the same city will slightly change.

    Petrol Rate in Coimbatore – A comparison

    Petrol price in Coimbatore has crossed a price offer of Rs.78 per litre and is expected to increase to Rs.80 per litre by May 2018. What was the trend in petrol price over the last four months (January 2018-April 2018) in the city of Coimbatore? In January 2018, the opening date and closing date prices were Rs.72.95 per litre and Rs.75.96 per litre respectively. The highest and lowest prices were closed at Rs.75.96 per litre and Rs.72.95 respectively for the month. In the following month, the opening date price was Rs.76.10 per litre. The closing date price dropped to Rs.74.47 per litre because of crude oil costs.

    The highest rate for the month of February 2018 stood at Rs.76.44 per litre whereas the lowest price was booked at Rs.74.47 per litre. In March 2018, petrol prices in the city were reasonably accelerated by fuel marketing companies. At Rs.76.44 per litre, the highest rate was booked. April 2018 has also produced an upward trend. For the month, fuel companies reported a price rise of Rs.0.85 per litre. It can be inferred that fuel rates in Coimbatore have not been consistent over the last 4 months because of dynamic fuel pricing.

    What is Dynamic Fuel Pricing?

    Marketing companies will use certain methods to determine the prices of commodities and services sold by them. Fuel companies, similarly, follow dynamic fuel pricing to fix the value of petrol per litre. They will price the fuel taking into account daily crude oil rate movements. The exchange rate is also taken to consideration. Japan, Australia and the USA also follow dynamic fuel pricing, which came into existence in India in the month of June 2017. The impact of the currency conversion rate is insignificant.

    Attributes of Dynamic Fuel Pricing

    • Fuel rates in Coimbatore will change on a daily basis at HPCL, BPCL and IOCL.
    • Fuel entities may or may not increase the fuel rate. Sometimes, they will extend the same price range.
    • Fuel is priced in a way that is free from political influences.

    Benefits of Dynamic Fuel Pricing to OMCs

    • Stocks and cash are effectively managed.
    • OMCs can save money and time.
    • They can computerise their operations to implement the system of dynamic fuel pricing.

    Methods to Trace Today’s Petrol Price in Coimbatore

    HPCL BPCL IOCL
    Mobile applications Download mobile application offered by Hindustan Petroleum which is ‘My HPCL.’ Download mobile application offered by Bharat Petroleum, which is ‘SmartDrive.’ Download mobile application provided by IOCL which is ‘Fuel@IOC.’
    SMS services You have to send an SMS request to 9222201122. Send an SMS request to 9223112222. Send an SMS request to 9224992249.
    Online portals Consider visiting the website of HPCL, which is www.hindustanpetroleum.com Just visit the website of Bharat Petroleum, which is www.bharatpetroleum.com The website to be visited is www.iocl.com

    Calculation of Petrol Price in Coimbatore

    Petrol rate in Coimbatore = Crude oil costs + taxes + commission for dealers + OMC expenses

    • Crude oil cost is a major cost component, which will change periodically. The combined price of Brent and WTI crude is considered. It will change on the crude oil market. In April 2018, the aggregated crude oil price stood at $69.30 per barrel. It will first be converted into Indian rupees and will be divided by 159 since a barrel of crude oil is equal to 159 litres.
    • Excise duty and Value-added Tax are imposed on petrol. No other taxes are levied apart from these two. Over the last three months, no changes were made as far as excise duty is concerned. It was Rs.19.48 a litre in May 2018. Likewise, VAT has not been revised recently by the State Government of Tamil Nadu. It was collected at 32.06% during the same month.
    • Oil Marketing Companies are required to spend several types of overheads, which include operating overheads, landing overheads, entry levies, refinery overheads, freight expenses, carriage overheads, etc. The overall sum of the overheads spent by OMCs was estimated to be Rs.6.10 per litre.

    Factors Impacting Fuel Rates in Coimbatore

    Internal factors: Excise duty and Value-added Tax are domestically governed. For instance, the Central Government retains the authority to make changes in excise duty. The NDA Government revised it many times since 2014. If the government revises excise duty, petrol price should be revised. Similarly, if there are any changes in VAT, fuel companies will make necessary changes.

    External factors: The exchange rate has to be taken into consideration since crude oil is an overseas commodity. Crude oil costs and the USD/INR exchange rate are inversely related. When the overseas currency weakens, crude oil rates will reduce proportionally. On the contrary, when the base currency strengthens, crude oil rates will also increase. Fuel prices will get affected in the end.

    Impact of GST on Current Petrol Rate in Coimbatore

    Goods and Services Tax (GST) is a multi-stage tax framework. It is paid by the people who purchase goods and services at different tax slabs. Petrol and diesel buyers will not pay GST. The have continued to pay the current tax. VAT and excise duty should be compensated if the GST Committee wishes to include petrol. If implemented at 28%, the current petrol price in Coimbatore will deteriorate by 20-30% as per specialists. Moreover, compliance overheads are expected to increase by 100%.

    Also Check Petrol Price in NearBy Cities of Coimbatore

    *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 Coimbatore Today

    • Crude Oil Gains as Tensions in the Middle East Outweighs US Supply Incline

      Crude oil prices inclined on Tuesday as tensions in the Middle East overshadowed the impact of the resumption of production in the Gulf of Mexico after the tropical storm and a sharp incline in US supply from shale oil. However, gains outweighed by uncertainty about China’s slowing economy after data on Monday showed that growth in China slowed to 6.2% from a year earlier, the slowest in 27 years. International benchmark Brent crude futures inclined by 21 cents trading at $66.69 per barrel by 1030 GMT. It had lost 24 cents or 0.4% on Monday. US West Texas Intermediate crude futures inclined by 19 cents trading at $59.77 per barrel. In the previous session, WTI was down by about 1%. US oil firms on Monday started restoring some of the 74% output that was shutdown at facilities in the Gulf of Mexico due to the tropical storm. Workers returned to more than 280 production facility that had been evacuated and could take several days before full production capacity is achieved. The market was also down by indications of further increase in output from the US which has seen a sharp incline supply of shale oil to become the world’s biggest crude producer ahead of Russia and Saudi Arabia.

      19 July 2019

    • Oil Marketing Companies (OMCs) Hike Fuel Prices Today

      State-controlled Oil Marketing Companies (OMCs) hiked petrol and diesel prices today across major metro cities of the country. While petrol prices were hiked by 8 to 10 paise per litre, diesel rates were hiked by 15 to 16 paise per litre. In Delhi, petrol is being sold at Rs.71.12 per litre compared to yesterday’s price of Rs.71.03 per litre, similarly, diesel is being sold at Rs.66.11 per litre. In Mumbai, petrol prices rose from Rs.76.64 per litre to Rs.76.73 per litre while diesel is being sold at Rs.69.27 per litre. In Kolkata, petrol costs Rs.73.19 per litre and diesel costs Rs.67.86 per litre. Likewise, in Chennai, petrol is available at Rs.73.82 per litre and diesel is available at Rs.69.88 per litre. In India, fuel prices are proportional to the international crude oil prices as it imports more than 80% of its requirements, also, the exchange rate of the rupee over the US dollar is considered before setting the petrol price as crude oil is purchased in dollars.

      The incline in fuel prices is attributed to the rise in crude oil prices in the oil market. Prices are computed based on the daily dynamic fuel pricing mechanism which considers the 15-day average price of crude oil and the rupee-dollar exchange rate. Prices are effective from 6:00 am IST and may vary between cities and fuel stations due to local taxes and transportation costs.

      23 May 2019

    • Diesel costs Rs.62.24 in the national capital

      With Oil Marketing Companies (OMCs) refraining from increasing or decreasing the rates of fuel on Tuesday, diesel prices were kept unchanged across the country. The cost for one litre of diesel in the national capital was Rs.62.24, the same as that of Monday. In Noida and Gurugram, consumers were required to pay Rs.61.93 and Rs.62.54 respectively for purchasing a litre of diesel. In the metropolitan cities of the country i.e., Mumbai, Chennai and Kolkata, OMCs charged Rs.65.12, Rs.65.70 and Rs.64.01 respectively for every litre.  

      On the global front, Brent crude was trading at 57.43 per barrel after its futures went up by 10 cents or 0.1 per cent. The Indian rupee was trading 0.50 per cent lower at 70.03 against the US dollar. It is noteworthy to mention here that the prices of crude oil have increased by over 5 per cent in the last four trading sessions. However, with the rupee appreciating against the US dollar, the impact of the crude price hike was cancelled out to some extent. 

      9 January 2019

    • Petrol prices continue to fall for the sixth consecutive day

      The rates of petrol continued to fall for the sixth consecutive day in the country. As of Tuesday, every litre of petrol in the national capital was sold for Rs.70.31. In the three other metro cities of the country i.e., Mumbai, Chennai and Kolkata the rates charged by Oil Marketing Companies (OMCs) were Rs.75.90, Rs.72.28 and Rs.72.84 respectively. It needs to be mentioned that as of Monday, the global crude index of Brent ended at 51 US dollars. The international crude oil prices have fallen by over 30% since the start of October.

      It is noteworthy to mention here that the agreement between members of Organization of Petroleum Exporting Countries (OPEC) led by Saudi Arabia and Russia-led allies to contain global oil supply is expected to increase domestic fuel prices. The increase in the prices would, however, be kept under the record levels to avoid demand destruction.

      11 December 2018

    • Fuel Rates Touch New Highs in Mumbai

      Petrol and diesel prices soared to new highs in Mumbai today as State-run oil companies increased petrol and diesel rates in the financial capital of India. While petrol was increased by 14 paise per litre, diesel was hiked by 11 paise. Petrol costs Rs.90.22 a litre in Mumbai, while diesel is being sold at Rs.78.69. In Delhi, petrol is available at Rs.82.86 and diesel at Rs.74.12 a litre. While petrol costs Rs.86.13 per litre in Chennai, diesel price stands at Rs.78.36. In Kolkata, the cost of petrol is Rs.84.68 a litre, while diesel is available at Rs.75.97 per litre. Oil benchmark Brent, meanwhile, inclined for the second consecutive day today, staying within the range of a four-year high. With a possibility of sanctions on Iran by the Trump administration and the Organisation of Petroleum Exporting Countries (OPEC) and its key ally, Russia inability or unwillingness to increase the production of oil has led to the incline in the global crude oil price in the market.

      26 September 2018

    • Petrol Prices Hiked by Oil Companies after International Crude Prices Rise

      Oil Marketing Companies (OMCs) hiked the prices of petrol on Saturday after international crude prices rose on Friday. The hike in the prices saw a litre of petrol cost Rs.77.28 per litre in the national capital, Rs.84.71 in Mumbai, Rs.80.22 in Kolkata and Rs.80.28 in Chennai. While international crude prices saw a hike on Friday, it declined later on worries that oversupply would weigh on the US market. Apart from that, factors such as trade disputes, slowing global economic growth dampening the demand for oil also played a part. It needs to be mentioned that the prices of petrol has seen a lot of fluctuations since the start of the year and had touched an all-time high of Rs.78.43 on May 29. On the global front, US crude declined for the seventh consecutive week while global benchmark Brent dropped for the third week. It needs to be mentioned that state-owned oil companies like IOC, BPCL, HPCL revise the prices of fuel on a daily basis under the dynamic fuel pricing scheme adopted in June 2017.

      23 August 2018

    • Diesel Prices in Your Cities

      The prices of diesel remained unchanged across Indian cities yesterday. The fuel was sold at Rs.67.38 a litre in Delhi, Rs.69.93 a litre in Kolkata, Rs.71.49 a litre in Mumbai and Rs.71.12 a litre in Chennai respectively. Oil marketing companies, which include Indian Oil, Hindustan Petroleum and Bharat Petroleum, are presently revising fuel prices on a daily basis under dynamic fuel pricing. The regular prices shall be made effective from 06:00 a.m. in all cities. 26 June was the last day on which diesel rates were slashed in the range of 10-12 paise per litre.

      Over the last one month, diesel prices were slashed by Rs.1.93 a litre, Rs.2.30 a litre in Mumbai and Rs.2.06 a litre in Chennai respectively. As on 1 July 2018, diesel prices stood at Rs.73.24 a litre in Hyderabad, Rs.72.75 a litre in Raipur, Rs.72.41 a litre in Gandhinagar, Rs.72.22 a litre in Bhubaneswar, Rs.72.14 a litre in Trivandrum, Rs.72.05 a litre in Patna, Rs.71.77 a litre in Jaipur, Rs.71.15 a litre in Ranchi, Rs.70.93 a litre in Bhopal, Rs.70.77 a litre in Srinagar, Rs.70.33 a litre in Guwahati and Rs.69.61 a litre in Pondicherry.

      3 July 2018

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