Petrol Rate in Delhi
Trend of Petrol Price in Delhi for October 2019 (rates per litre)
|Highest Rate in October||Rs.74.67|
|Lowest Rate in October||Rs.73.82|
October - Week 1 (1-7):
- The price of petrol opened the month of October at Rs.74.67 per litre in Delhi. It was the highest recorded price for the week. Compared to the previous day, the rates increased by 21 paise per litre.
- Petrol price in Delhi dropped considerably over the week after staying constant for the next day. The drop in the prices was accounted to crude oil prices cooling down and reversing all gains.
- The prices closed the first week of the month at Rs.73.83 per litre as the prices of crude oil slid to its second consecutive weekly decline. The closing price was the lowest recorded price for the month so far. The overall performance of petrol in Delhi was -1.13%
Trend of Petrol Price in Delhi for September 2019 (rates per litre)
|Highest Rate in September||Rs.74.46|
|Lowest Rate in September||Rs.71.75|
September - Week 1 (1-7):
- The petrol price in Delhi opened the month of September at Rs.67.42 per litre. The rates were unchanged from what was charged the previous day.
- Petrol in Delhi remained stable for the next few days as Oil Marketing Companies (OMCs) kept the prices constant due to low demand. However, in the international oil market, crude oil prices shot up as Washington confirmed that trade talks with Beijing will be held in the coming months.
- The petrol rate in Delhi dropped towards the end of the week and closed at Rs.71.81 per litre. The overall performance of petrol in Delhi for the first week of September was -0.27%.
September - Week 2 (8-14):
- Petrol price in Delhi opened at Rs.72.01 per litre in Delhi on the 8th of August 4 paise lower than the previous day’s closing price. Meanwhile, in the international oil industry, crude futures dropped after participants reduced positions due to a weak trend in global markets.
- After staying stable for a day, price of petrol in delhi rose again on 11 September, recording Rs.71.80 per litre. The hike in prices was primarily due to a sharp drop in US inventories.
- Delhi Petrol price closed the week at Rs.72.01 per litre, thereby marking a sharp increase since its 4 paise drop at the beginning of the week.
September - Week 3 (15-21):
- Petrol price in Delhi opened at Rs.72.07 per litre—6 paise higher than the previous day’s closing price on the 15th of September.
- After staying stable for a day, petrol rate in Delhi soared recording Rs.72.46 per litre on 18 September.
- Petrol closed the week at Rs.73.39 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 was 1.91%, trending upwards.
September - Week 4 (22-30):
- The price of petrol in Delhi opened the fourth week of September at Rs.73.66 per litre. The rates were 27 paise higher than what was charged the previous day.
- Over the week, the rates of petrol continued to soar in the national capital due to geopolitical tensions. Petrol recorded the highest price for the month on September 30 with consumers needing to pay Rs.74.46 for every litre.
- The increase in the petrol prices in Delhi was accounted to the drone attack carried out on Saudi Arabia’s Aramco oil refinery. The overall performance of petrol for the month was 3.40%, trending upwards.
Trend of Petrol Price in Delhi for August 2019 (rates per litre)
|Highest Rate in August||Rs.72.86|
|Lowest Rate in August||Rs.71.84|
August 2019 – Week 1 (1-7):
- Petrol price in Delhi opened at Rs.72.86 per litre on 1 August, 6 paise lower than the previous day’s closing price. In the international crude oil market, crude prices dropped after the US Federal Reserve dismissed all the rumours revolving around rate cuts. However, diesel in Delhi remained stable without undergoing any price change.
- Petrol rate slumped further, recording Rs.72.69 per litre on 2 August, marking a drop of 17 paise per litre. Prices dropped further, trending at Rs.72.52 per litre on 5 August. In the international oil market, crude prices fell amid worries over weaker demand after the Trump administration said it would impose tariffs on more Chinese imports.
- Petrol closed the week at Rs.72.28, its lowest recorded price till now in the month of August. The overall decline in petrol price recorded in the first week of August is -0.79%. In the international oil market, crude price dropped owing to US-China trade tensions. With Trump announcing to impose more tariffs on Chinese imports, crude prices could drop further in the coming days.
August 2019 – Week 2 (8-14):
- Price of Petrol in Delhi opened at Rs.72.23 per litre on the second week of August—5 paise lower than the previous day’s closing price.
- Petrol dipped further by 15 paise on the next day, standing at Rs.72.08 per litre. The dip was primarily due to the ongoing US-China trade tension.
- Delhi Petrol price slumped slightly more in the next few days before stabilising at Rs. 71.99 per litre. Meanwhile, in the international oil market, crude prices fell because of the anticipation of further supply cuts amidst looming global economic crisis.
August 2019 – Week 3 (15-21):
- Petrol in Delhi opened at Rs.71.99 on 15 August, unchanged from the previous day’s closing price.
- Petrol prices remained stable for the next few days before dropping to Rs.71.91 per litre on 18 August due to weak demand of the oil in the local market.
- Petrol prices in Delhi slumped further, dropping to Rs.71.84 per litre. Prices stabilised at petrol closed at Rs.71.84, as recorded on 21 August. However, in the international oil market crude prices went up after a drop in US inventories. But the gains were minimal due to sluggish economic growth in the global market.
August 2019 – Week 4 (22-31)
- Petrol price in Delhi opened at Rs.71.84 per litre, unchanged from previous day’s closing price. After staying stagnant for the next few days, petrol prices went up marginally, recording Rs.72.07 per litre. 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.72.01 per litre. Petrol remained unchanged till the end of the week.
- Overall, petrol’s performance in Delhi was -1.16%, trending downwards. In the international oil market, crude slumped after concerns about the strength of US economy.
Petrol Price in Delhi:
Delhi is the capital city and union territory of India bordered by Uttar Pradesh to the east and by Haryana to the west, the north and the south. The city has spread across an area of 573 sq mi. The population of the city was more than 11 million according to the latest census.
With the advent of the Delhi Metro, the city has come out with a highly efficient, convenient system for public transport. The number of registered vehicles in the city is estimated to be 16.60 million, which is the highest among all cities in the world.
The diesel consumption in the city has come down by 15% and the petrol consumption by 1.5% in 2011-2012. The diesel consumption recently has gone up with more number of diesel-run vehicles getting added to the city. The consumption of petrol is projected to rise by 10% by the end of the financial year 2017-2018 in Delhi.
Also Check Petrol Price in Metro Cities
|Petrol Price Bangalore||Petrol Price in Chennai||Petrol Price n Hyderabad|
|Petrol Price in Mumbai||Petrol Price Kolkata||Petrol Price Pune|
Trend of Petrol Price in Delhi for July 2019 (rates per litre)
|Highest Rate in July||Rs.73.47|
|Lowest Rate in July||Rs.70.50|
July 2019 – Week 1 (1-7):
- Petrol price in Delhi was at Rs.70.50 on 1 July – the lowest price recorded during the month influenced by the slight drop in crude oil prices due to decline in production by the OPEC and its allies.
- On 2 July, state-owned oil companies, in accordance with the daily revision, hiked petrol prices in Delhi by 7 paise to be sold at Rs.70.57 per litre, this remained unchanged until 6 July.
- Petrol rate in Delhi rose to record its highest price of the week when it was available at Rs.73.01 per litre attributed by the hike in excise duty of Re.1 per litre and the road and infrastructure cess of Re.1 per litre.
July 2019 – Week 2 (8-14):
- Petrol price in Delhi stood at Rs.73.01 per litre when the week began due to the increase in excise duty of Rs.2 per litre after the Central Government announced while delivering the 2019 Finance Budget.
- Prices were decreased to Rs.72.96 per litre on 9 July after crude oil prices declined amid concerns over decline in demand for crude after the latest indications that the trade tensions between the US and China have been impacting the global economy.
- By the end of the week, petrol prices rose to its weekly high of Rs.73.14 per litre, inclining by marginally by 0.18% primarily due to slight incline in crude prices amid tensions in the Middle East despite supply cuts led by the OPEC and its allies.
July 2019 – Week 3 (15-21):
- Petrol was priced at Rs.73.27 per litre on 15 July, the lowest price recorded during the week amid falling crude oil prices after China reported its slowest quarterly economic growth in at least three decades, indicating concerns about demand from China.
- Diesel petrol Prices were hiked by 6 paise per litre on 16 July which remained unchanged until 17 July before it was increased by 8 paise on 18 July, this remained unchanged until the end of the week despite rising crude oil prices in the oil market.
- Overall, petrol prices in Delhi during this week inclined amid pressure on Brent Crude – the global benchmark – after the US shot down a Iranian drone, escalating tensions in the Middle East.
July 2019 – Week 4 (22-28):
- Petrol price in Delhi opened at Rs.73.41 per litre on 22 July, unchanged from the previous day’s closing price. Prices remained stable primarily because of the lack of demand in crude oil in the international market amid growing tensions in the Middle East.
- Petrol prices went up slightly on the next day, recording at Rs.73.47 per litre and remained stable till the next day after which it fell to Rs.73.41 per litre on 25 July. In the international oil market, crude gained midst reports of a huge drop in US inventories and after the US Navy said it may have downed a second Iranian drone last week.
- Petrol in Delhi started to drop from the next day, closing the week at Rs.73.20 per litre on 28 July. Weak demand among the market players could be one of the most obvious reasons of the price drop. Also, Goldman Sachs had earlier slashed its 2019 oil demand projection, thereby lowering its outlook for fuel use.
Trend of Petrol Price in Delhi for June 2019 (rates per litre):
|2nd June||Rs.71.53 per litre|
|30th June||Rs.70.40 per litre|
|Highest Rate in June||Rs.71.53 per litre on 2 June|
|Lowest Rate in June||Rs.69.96 per litre from 16 – 23 June|
June 2019 – Week 1 (2-8):
- Petrol opened at Rs.71.53 per litre on 2 June, a marginal increase compared to the previous day’s price as it was impacted by the slight drop in crude prices in the international oil market.
- Prices of petrol continued to decline over the week with the lowest price recorded at Rs.70.97 per litre on 7 June.
- The decline in prices came amid the stabilization of crude prices as the international benchmark Brent crude futures, was down by 22 cents or 0.4% after plummeting 10% in the last four days.
June 2019 – Week 2 (9-15):
- The week opened with petrol being sold at Rs.70.97 per litre, no change compared to the previous day’s price.
- State-run Oil Marketing Companies (OMCs) cut petrol prices further by 51 paise on 10 June and kept it unchanged until 12 June.
- Prices continued to drop over the week and recorded its weekly low of Rs.70.02 per litre on 15 June impacted by the concerns of a trade war between the US and China and supply cuts led by the OPEC and its allies.
June 2019 – Week 3 (16-22):
- On 16 June, petrol was priced at Rs.69.96 per litre in Delhi even as oil companies cut prices by 6 paise compared to the previous day’s rate.
- Oil firms kept Delhi petrol prices unchanged until the end of this week even as prices of crude declined on indications that global economic growth being hit by the trade war between the US and China.
- Also, despite crude oil prices inclining over the week amid tensions in the Middle East after Iran shot down a US military drone as well as on expectations for a reduction in US interest rates that may trigger global growth, prices remained the same until the end of the week.
June 2019 – Week 4 (23-30):
- During the 4th week of June, petrol opened at Rs.69.96 per litre in Delhi, the same as the previous day’s price.
- On 24 June, oil firms hiked the petrol price in Delhi by 12 paise per litre to be sold at Rs.70.08 per litre and remained constant until 26 June.
- Crude oil prices declined as investors awaited the outcome of the G20 summit and the meeting of the OPEC and allies to take a decision on an extension of production cuts in the international oil market.
Petrol Rates in Delhi:
Since the implementation of "Dynamic Fuel Pricing" in mid-June, petrol prices in the city have grown by 8% because of a 14% hike in overseas oil and a 40% rise in dealer’s commission. The retail selling price of petrol witnessed an 8.66% hike from Rs.65.23 a litre as on 17th June 2017 to Rs.70.88 a litre as on 3rd October 2017.
In just a span of 13 days post Dynamic Fuel Pricing, petrol rates have fallen by Rs.3.45 a litre with oil companies reducing prices or keeping it unaltered for 12 days in a row. They have been in a growing trend since then. From the first day of daily revision, the cost of petrol per litre in Delhi has gone up by Rs.5.65 till date. Have you noticed?
The recent price hikes can be attributed to the increasing price of crude oil in the overseas markets as mentioned earlier. The last five days have shown an increasing trend with the rate growing from Rs.70.56 as on 29th September 2017 to Rs.70.88 till date.
Petrol Prices in Delhi vs. Other Metro Cities:
Petrol prices in Delhi are cheaper compared to other metro cities of India. This is attributed to the lower VAT levied on the sale of fuel in the national capital. Petrol prices in four metro cities as on 20 January 2019 are Rs.70.64 per litre in Delhi, Rs.76.22 in Mumbai, Rs.73.27 in Chennai, and Rs.72.69 in Kolkata after their daily price revision.
Similarly, the diesel Price in Delhi is Rs.65.06 per litre, Rs.68.06 in Mumbai, Rs.68.66 in Chennai, and Rs.66.78 in Chennai. The Petrol Price in Delhi is less compared to other metro cities because of the lower state VAT (27%) imposed on petrol by the state government.
|Also Check: Petrol Price in Mumbai|
Determinants of Delhi Petrol Rates
Petrol rates in Delhi are impacted by mainly the buying cost of crude oil, the exchange rate, the dealer’s commission, the central excise duty, the state VAT. Crude oil prices are subject to vary. Any increase or decrease in oil prices will proportionately impact the retail selling price of petrol.
The central excise is the same across the country, but the state VAT is something that varies from state to state. As mentioned in the earlier section, a litre of petrol costs you less in Delhi compared to other three metro cities due to the lower state VAT imposed on petrol in Delhi.
The exchange rate of the USD to the INR is another important consideration. If the INR weakens against the USD, the buying cost of oil will increase; if the INR strengthens against the USD, the buying cost of oil will decrease. Any ups and downs in crude oil prices will equally affect the cost of petrol in Delhi.
How often Petrol Rates in Delhi Revised?
Like any other India city, state-run oil companies such as Indian Oil, Hindustan Petroleum, and Bharat Petroleum dominate the petrol market in New Delhi. All these oil brands are currently revising diesel and petrol prices on a daily basis, which is also called dynamic fuel pricing.
The new pricing system was proposed and implemented by the government of India post mid-June 2017. Every petrol station in Delhi whether automated or non-automated revises fuel prices at 06:00 a.m. each day. Make sure to make a note of updated prices that will be displayed by each bunk.
Fuel prices are presently raising marginally in the city. If you are a retail consumer, daily price revisions will not impact you much. If you are a consumer of petrol in larger quantities, even a minute fall or a hike can make a big difference to your billing amount.
In fact, the new fuel pricing system is in practice throughout the nation. All fuel users whether from Delhi or from other Indian cities are expected to be benefited from the system. The pricing is transparent under the system.
Impact of GST on Petrol Rates in Delhi
As we all know, the oil and natural gas industry has not been brought under the regime of GST till date. It means all types of petroleum products do not have to comply with the GST tax structure that was brought into act in July 2017. However, the industry remains unaffected.
If GST was imposed on petrol, what is the anticipated price of petrol per litre in Delhi?
· A litre of petrol costs you Rs.38.10 in case 12% GST is imposed.
· A litre of petrol costs you Rs.40.05 in case 18% GST is imposed.
· A litre of petrol costs you Rs.43.44 in case 28% GST is imposed.
For Delhi customers, petrol prices would have been cheaper. But, the revenues for the Delhi government would have been adversely affected. The government imposes 27% VAT on petrol and 16.75% VAT on diesel with effective from 1st September 2017.
Petrol vs. Diesel in Delhi
Since the global crude oil was trading around $80 per barrel early October 2018, it’s now trading around $56 per barrel on the back of the decline in the geopolitical tensions between the US and China over the trade war between them. Also, the Centre reduced the excise duty of Rs.1.50 per litre and asked oil companies to further subsidise Rs.1 per litre on 4 October 2019 which was also one of the factors which led to the fall in fuel rates in the country.
While petrol was sold at Rs.83.81 per litre on 1 October 2018, it was sold at Rs.70.64 per litre on 20 January 2019, thereby declining by Rs.13.17 per litre.
As for the diesel price in Delhi, it was sold at Rs.75.17 per litre on 1 October 2018, which has now declined to Rs.65.06 per litre as of 20 January 2019, reducing by Rs.10.11 per litre.
When you compare the petrol and diesel price in Delhi, diesel rates are much lower than that of the petrol price in the national capital. The difference between the two fuels is approximately Rs.6 per litre.
Also Check Petrol Price in NearBy Cities of Delhi
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