• Petrol Price In India Today

    Petrol Price In Indian Cities
    City Petrol ( / liter)
    AGRA ₹ 77.55
    AHMEDABAD ₹ 76.33
    ALIGARH ₹ 77.77
    ALLAHABAD ₹ 77.82
    AMBALA ₹ 77.32
    AMRAVATI ₹ 86.22
    AURANGABAD ₹ 83.5
    BANGALORE ₹ 78.47
    BAREILLY ₹ 77.85
    BELGAUM ₹ 78.49
    BHOPAL ₹ 82.82
    BHUBANESHWAR ₹ 76.02
    CHANDIGARH ₹ 74.26
    CHENNAI ₹ 80.15
    COIMBATORE ₹ 80.5
    CUTTACK ₹ 76.21
    DEHRADUN ₹ 78.38
    DELHI ₹ 77.21
    DINDIGUL ₹ 80.98
    ERODE ₹ 80.56
    FARIDABAD ₹ 77.99
    GHAZIABAD ₹ 77.8
    GULBARGA ₹ 78.43
    GUNTUR ₹ 83.37
    GURGAON ₹ 77.73
    GUWAHATI ₹ 79.38
    HYDERABAD ₹ 81.79
    INDORE ₹ 82.86
    JABALPUR ₹ 82.91
    JAIPUR ₹ 79.97
    JALGAON ₹ 85.93
    JAMMU ₹ 78.91
    JAMNAGAR ₹ 76.26
    JODHPUR ₹ 79.88
    KAKINADA ₹ 83.55
    KANNUR ₹ 80.28
    KANPUR ₹ 77.64
    KARNAL ₹ 77.51
    KARUR ₹ 80.49
    KOLHAPUR ₹ 85.22
    KOLKATA ₹ 79.86
    KOTA ₹ 79.6
    KOZHIKODE ₹ 80.32
    KURNOOL ₹ 83.59
    LUCKNOW ₹ 77.86
    LUDHIANA ₹ 82.72
    MADURAI ₹ 80.75
    MALAPPURAM ₹ 80.61
    MANGALORE ₹ 77.85
    MEERUT ₹ 77.64
    MUMBAI ₹ 85.03
    MYSORE ₹ 78.17
    NAGERCOIL ₹ 80.99
    NAGPUR ₹ 84.92
    NANDED ₹ 86.5
    NASIK ₹ 85.36
    NELLORE ₹ 83.63
    NOIDA ₹ 77.91
    PATNA ₹ 82.69
    PONDICHERRY ₹ 75.99
    PUNE ₹ 84.83
    RAIPUR ₹ 77.6
    RAJKOT ₹ 76.18
    RANCHI ₹ 77.07
    RATLAM ₹ 82.77
    SALEM ₹ 80.86
    SANGLI ₹ 84.96
    SHIMLA ₹ 77.37
    SHIMOGA ₹ 79.1
    SOLAPUR ₹ 85.58
    SRINAGAR ₹ 81.61
    SURAT ₹ 76.26
    THANE ₹ 85.11
    THANJAVUR ₹ 80.8
    THRISSUR ₹ 80.51
    TIRUNELVELI ₹ 80.49
    UDAIPUR ₹ 80.52
    UDUPI ₹ 78.05
    VADODARA ₹ 76.06
    VARANASI ₹ 77.92
    VELLORE ₹ 81.24
    WARANGAL ₹ 81.42

    Introduction to Fuel Pricing in India

    Petrol is an essential commodity in our day-to-day life. We use it mainly for the purpose of transportation. The price, which is charged at petrol pumps, is the retail price of petrol for consumers. Have you ever questioned yourself that how petrol rates in India are computed? Which are the influencers of the cost of petrol? Whether or not petrol has been covered under the regime of GST? These are very important questions from the stance of petrol users someone like you. Let’s get into the discussion.

    Daily Revision of Petrol and Diesel Prices in India (Dynamic Fuel Pricing)

    How are petrol and diesel prices in India determined today? We have a new fuel pricing mechanism in place called dynamic fuel pricing, which is also called daily revision of fuel rates. The new pricing system was introduced in India on 16th June 2017 after conducting a long 40-day trial in five cities - Chandigarh, Udaipur, Jamshedpur, Puducherry, Vishakhapatnam.

    Under this system, fuel rates are revised on a daily basis considering global crude oil rates and the rate of currency conversion. The system is in practice across 58,000 petrol bunks in India. The system brings transparency and addresses complexities involved in the previous fortnightly-based revision. It lets fuel users pay market-determined prices despite the impact.

    Petrol and diesel rates are revised at 06:00 a.m. every day.

    There are two categories of petrol bunks:

    1. Automated, which automatically modify rates with no human intervention and
    2. Non-automated, which manually revise. Only 20% out of 58,000 petrol bunks are automated and the rest are non-automated. The revised rates shall be displayed at bunks for the public.

    How to Check Petrol Prices in India every day?

    State-owned oil marketing entities account for at least 90% of retail fuel stations in India. Renowned oil brands such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL), and Indian Oil have strategically designed a few initiatives that help consumers spot the latest rates.

    Here is How You Can Track Petrol Prices Regularly:

    Options HP BPCL Indian Oil
    SMS service Type: HPPRICE DEALER CODE and send it to 9222201122 Type: RSP DEALER CODE and send it to 9223112222 Type: RSP DEALER CODE and send it to 9224992249
    Online Service Visit www.hindustanpetroleum.com and then go to “Pump Locator” Visit www.bharatpetroleum.in and then go to “Pump Locator” Visit www.iocl.com and then go to “Pump Locator”

    Mobile app You can also download Bankbazaar App and check the prices instantly on your smartphone. Google Play

    Trend in Petrol Prices in Delhi (January 2018-March 2018)

      January 2018 February 2018 March 2018
    Opening date price Rs.69.97 Rs.73.05 Rs.71.57
    Closing date price Rs.72.92 Rs.71.51 Rs.73.55
    Highest price Rs.72.92 (Booked on 30 January) Rs.73.38 (Booked on 6 February) Rs.73.55 (Booked on March 26)
    Lowest price Rs.69.97 (Booked on 1 January) Rs.71.50 (Booked on 25 February) Rs.71.57 (Booked on 1 March)
    Overall performance Increasing Declining Increasing
    % Deviation 4.05% 2.15% 2.69%
    Petrol Price in Delhi

    The data has been sourced from the official websites to construct this table. As you can see from the table, the petrol price has produced an upward trend throughout the month of January 2018. It was up 4.05% to Rs.72.92 per litre on the closing date. Since the crude oil has decreased marginally, the fuel prices was down 2.15% to Rs.71.51 per litre on the last day of February 2018.

    The fuel rate stirred upwards during the first few days of the month and began sliding towards the end. It continued an upward trend in March 2018 and was up by 2.69% during the month. The highest petrol rate was registered at Rs.73.55 per litre on 26 March 2018 whereas the lowest petrol price at Rs.69.97 per litre on the beginning day of January 2018.

    Trend in Petrol Prices in Mumbai (January 2018 -March 2018)

      January 2018 February 2018 March 2018
    Opening date price Rs.77.87 Rs.80.91 Rs.79.45
    Closing date price Rs.80.79 Rs.79.39 Rs.81.41
    Highest price Rs.80.79 (Registered on 30 January) Rs.81.24 (Registered on 6 February) Rs.81.41 (Registered on 31 March
    Lowest price Rs.77.87 (Registered on 1 January) Rs.79.38 (Registered on 25 February) Rs.79.45 (Registered on 1 March)
    Overall performance Growing Decreasing Growing
    % Deviation 3.61% 1.19% 2.41%
    Petrol Price in Mumbai

    The VAT is levied in Mumbai, the capital city of Maharashtra, at 47.94% on petrol. It is the highest among other Indian states. This is the reason why the petrol price in Mumbai is costlier. The petrol rates not only in Mumbai but also in Chennai, Delhi and Kolkata have hit their historical highs in January 2018. They have gained in January 2018 and March 2018 by 3.61% and 2.41% correspondingly.

    So far this year, 2018, the fuel was priced the highest at Rs.81.41 per litre on 31 March 2018 in the city. The lowest price was registered at Rs.77.87 per litre on 1 January 2018. The fuel rate has slid by 1.19% in February 2018 since costs of crude oil were comparatively low during the month. The price is anticipated to grow further.

    Trend in Petrol Prices in Bangalore (January 2018-March 2018)

      January 2018 February 2018 March 2018
    Opening date price Rs.71.06 Rs.74.20 Rs.72.69
    Closing date price Rs.74.07 Rs.72.63 Rs.74.71
    Highest price Rs.74.07 (Booked on 30 January) Rs.74.54 (Registered on 6 February) Rs.74.71 (Registered on 31 March)
    Lowest price Rs.71.06 (Booked on 1 January) Rs.72.62 (Registered on 23 February) Rs.72.69 (Booked on 1 March)
    Overall performance Increasing Falling Increasing
    % Deviation 4.06% 2.16% 2.70%
    Petrol Price in Bangalore

    As we can observe from the table, the petrol price in Bangalore is lower compared to Mumbai, but higher compared to Delhi. The price of the fuel tends to vary from city to city because of two reasons: 1) the VAT component and 2) the dealer’s commission. Like Delhi and Mumbai, even in Bangalore, the petrol prices were up in January 2018 and March 2018 by 4.06% and 2.70% respectively.

    Between January 2018 and March 2018, in the city of Bangalore, the highest fuel price was logged at Rs.74.71 per litre on 31 March and the lowest fuel price at Rs.71.06 per litre on the opening of January 2018. The quantum of deviation is different amid these cities. For instance, in Bangalore, the percentage of fall in the petrol price in February 2018 is different from that of in Delhi and Mumbai.

    Impact of GST on Oil and Natural Gas Industry

    The Goods and Services Tax (GST) is a unified indirect tax platform that was implemented in July 2017.As on today, the oil and natural gas industry has been kept outside the GST regime. What would have been the impact on the industry if GST was imposed?

    The cost of compliance would have doubled as the industry had to comply with the present and GST tax structures. The implementation of GST would have resulted in non-creditable tax, which means the participants of the industry had to pay GST upon the purchase of plant and machinery. They would not have been able to obtain credit on saleable products. Moreover, upstream corporations would have been adversely affected by a hike in the tax rate from 15% to 18%.

    With respect to the segment of gas utilities, gas marketers would have faced complexities since they had to remit GST on transmission rates. GST excludes five petroleum derivatives - natural gas, high-speed diesel, crude oil, motor spirit and aviation turbine fuel while it covers other commodities such as kerosene, LPG, fuel oil, naphtha.

    GST Impact on Petrol Prices in India

    Let’s take a look at how much is taxed on petrol.

    Fuel cost (after freight, margin of OMCs, refining expenses) Rs.27.51 a litre
    The center’s excise duty Rs.21.48 a litre
    Pump dealer’s commission Rs.2.5 a litre
    Gross rate before Value Added Tax Rs.51.48 a litre
    27% VAT on gross price (Delhi) Rs.13.9 a litre
    Pollution cess at 25p Rs.0.25 a litre
    Retail price of petrol (RSP) Rs.65.63 a litre

    32% of the retail price of petrol goes to the central government and 21.5% to the state. The central government gets Rs.21.48 and the state Rs. 14.15 if the RSP is 65.63. This is the current scenario.

    What is the impact of GST on petrol prices in India? Let’s take an example of the capital city, Delhi.

    A litre of petrol costs Rs.70.56 in Delhi as on 28th September 2017. It will fall to Rs.30.85 a litre when we take out Rs.21.48 paid as the excise duty a litre, the state government’s 27% VAT, Rs.3.24 remitted as commission to dealers. If GST is imposed on petrol, how much do we pay?

    Here goes the calculation:

    · In case 12% GST on petrol, a litre of petrol costs Rs.38.10.

    · In case 18% GST on petrol, the cost of petrol per litre is Rs.40.05.

    · In case 28% GST, which is the highest rate fixed till date, the cost in the city is Rs. 43.44 per litre.

    Petrol prices in India would have cheaper for consumers, but the revenue source for both the governments would have been adversely affected. Let’s wait till the next turn.

    Industry Stakeholders

    It is important to understand the participants of the oil and natural gas industry to understand how petrol prices in India are determined. They include:

    • Oil production and exploration corporations: These corporations are liable for producing oil in its crude form. The major participants of this segment include Crain India, Reliance Industries, Oil and Natural Gas Corporation (ONGC), Oil India. Only 25% of the country’s oil requirements is met through these companies and the rest through importing.
    • Oil Marketing Corporations: Oil marketing companies, also called refineries, manage everything from the stage of crude oil till the delivery of saleable fuel to dealers. This segment consists both public and private sector companies such as Reliance Industries, Essar, Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Private Corporate.
    • Dealers: Owners of petrol bunks are called dealers who can be individuals or business entities. They sell petrol to end customers after adding their margins and local taxes.

    Quarterly Petrol Price Trend In India Between January 2018 And March 2018

      January February March
    Opening date price Rs.69.97 per litre Rs.73.03 per litre Rs.71.63 per litre
    Closing date price Rs.72.92 per litre Rs.71.49 per litre Rs.73.55 per litre
    Highest price Rs.72.92 per litre recorded on 31 Rs.73.36 per litre recorded on 6 & 7 Rs.73.55 per litre recorded on 31
    Lowest price Rs.69.97 per litre recorded on 1 Rs.71.49 per litre recorded on 27 & 28 Rs.71.63 per litre recorded on 1
    Trend Upward Downward Upward
    %Change +4.05% -2.15% +2.69%

    Trend In Petrol Price In India In January 2018

    • On the first day of 2018, petrol price in India stood at Rs.69.97 per litre which is also the lowest price of petrol for the month. Cost of petrol in metros such as Kolkata stood at Rs.72.72 per litre, Mumbai at Rs.77.87 per litre, and Chennai at Rs.72.53 per litre.
    • While the trend of petrol prices in the first week of January remained steady, they gradually increased by up to a rupee by the second week of the month ending at Rs.71.18 per litre on the 15th.
    • The increase in fuel prices was attributed to the hike in the Indian Oil Basket price which stood at $67.50 per barrel on the the 10th, then moving upwards at $68.02 on the 15th.
    • The average petrol price in January 2018 stood at Rs.71.45 per litre in the country and on the last day of the month petrol price stood at Rs.72.92 per litre.
    • Overall, petrol price in India in January 2018 indicated an upward trend of 4.05% attributed to an increase in international crude oil price and the USD/ INR exchange ratio, which was down by 14 paise.

    Trend In Petrol Price In India In February 2018

    • Petrol price in India on the 1st February stood at Rs.73.03 per litre and remained steady during the first 15 days averaging Rs.73 per litre.
    • The Union Budget for fiscal 2018-19 was presented by the Finance Ministry and despite being a key driver in determining the petrol price in India, there were no noticeable changes in the price of fuel in first two weeks.
    • In the second half of February 2018, petrol price declined by nearly a rupee as INR gained against the USD. The lowest petrol price in India in February was recorded at Rs.71.59 per litre on the 25th.
    • The trend in petrol price in India in February 2018 was on the downward recording a 2.15% decline from the opening date price to the closing date price.
    • Prices of petrol in February 2018 recorded the highest as well as the lowest rate, Rs.71.49 per litre on the last day of the month, for the quarter.

    Trend In Petrol Price In India In March 2018

    • Petrol price in March 2018 began with Rs.71.63 per litre on the first day, which is also the lowest petrol price for the month.
    • Since the value of the USD dropped against INR, the price of petrol in India increased nearly by a rupee by the 15th of the month compared to the opening date price.
    • During the third week of the month, the increase in petrol price was significantly lower, but towards the end of the month, petrol price was at its highest at Rs.73.55 per litre.
    • Overall, the trend of petrol price for the month witnessed an upward trend of 2.69% determined by the hike in the international crude oil prices and the appreciation of INR over the USD.

    Components of Petrol Prices in India

    A litre of petrol in the national capital costs you Rs.70.56 at the moment. The central excise duty is Rs.21.48 a litre as on today? Why are we paying so much then? How is the RSP computed? The computation of RSP is based a few considerations, which are:

    1.Cost of crude oil plus cost and freight charges

    The cost of crude oil is the biggest component of the RSP. Oil manufacturing companies pay crude oil prices in addition to the cost and freight charges to buy oil from overseas companies. India is one among the biggest importers of crude oil.

    2.Refinery transfer price (RTP)

    Refinery transfer price is the cost incurred by OMCs to convert crude oil into refined petrol. In other words, RTP is a fee charged by refineries to OMCs to convert oil into refined petrol.

    3.OMCs profit margin

    OMCs retain the possession of oil until it is refined and then they sell refined petrol to local dealers after adding a profit margin.

    4.Central and state taxes

    Tax on petrol is imposed by the state and the central. The central excise duty is the same across the nation while the component of VAT varies within states.

    5. Dealer commission

    Local dealers or petrol bunk owners sell petrol to end customers after adding their commission per litre of petrol. Dealer commission may slightly vary.

    All the aforementioned components get added to the final price. The variable components of petrol prices in India are transportation costs and the state VAT.

    Breakup of Petrol Prices in India

    The INR has strengthened against the USD recently. The crude oil price floats around $48 at present. The cost of one barrel, which is equivalent to 159 litres, is Rs.3210 that means a litre of oil costs you Rs.20.19. Crude oil prices are also marked to market dynamics. With this information, let’s now take a closer glimpse at the breakup of petrol prices in India as on 24th August 2017.

    Petrol rate
    The cost of crude oil with freight Rs.3,210 a barrel of 159 litres
    The cost of crude a litre Rs.20.19
    OMC cost computation
    Refinery and processing expenses Rs.6.03 a litre
    Freight, transportation, OMC margin Rs.3.31 a litre
    Fuel cost after refining Rs.29.53 a litre (52% of RSP)
    The central excise duty on petrol Rs.21.48 a litre (25% of RSP)
    Dealer price before VAT Rs.51.01 a litre
    Dealer retail price computation
    Dealer commission Rs.3.23 a litre (2% of RSP)
    VAT 27% plus 25p pollution cess Rs.14.64 a litre (17% of RSP)
    Retail selling price of petrol in Delhi Rs.68.88 a litre

    This is how the retail selling price of petrol is computed in India.

    VAT on Petrol Prices in India

    The following table gives you an idea about effective rates of VAT imposed on petrol by Indian states as on 1st September 2017. The data has been released by Petrol Planning and Analysis Cell (PPAC).

    State VAT on petrol State VAT on petrol
    Andhra Pradesh 38.82 Arunachal Pradesh 20.00
    Chhattisgarh 28.88 Bihar 26.00
    Assam 32.66 Goa 17.00
    Delhi 27.00 Himachal Pradesh 27.00
    Haryana 26.25 Puducherry 21.15
    Jharkhand 31.07 Gujarat 28.96
    Madhya Pradesh 38.79 Jammu & Kashmir 29.53
    Manipur 25.00 Maharashtra 47.64
    Kerala 34.06 Karnataka 30.00
    Mizoram 20.00 Nagaland 24.68
    Rajasthan 32.91 Punjab 36.04
    Sikkim 30.88 Tamil Nadu 34.00
    Odisha 26.00 Meghalaya 22.44
    Telangana 35.20 Uttarakhand 32.51
    Uttar Pradesh 32.45 West Bengal 26.85
    Also Know: Diesel Price In India

    Factors Impacting Petrol Prices in India

    The cost of petrol in India is impacted by the following factors:

    1. Crude oil prices

    The pricing of crude oil is often what impacts petrol rates the most. Crude oil, also called unrefined oil, is an international commodity. The market for which is dynamic in nature. The most common influencers of the cost of oil include:

    • Demand and supply: The law of demand applies even for petrol prices, which increase when there is an increased demand for oil and decrease if there is a decreased demand.
    • Future supplies and reserves: An inadequate amount of oil reserves increases the oil cost that in turn impacts fuel rates.
    • Political events: Crude oil pricing is affected by wars, natural calamities, new government regulations.
    • Demand from leading economies: The oil price boosts when there is a larger demand from leading economies of the world.

    2. Taxes

    As discussed earlier, petrol is taxed by centrally and by the state. Petrol prices in India will change in proportion to changes in the central excise duty and the state VAT.

    3. Refinery Consumption Ratio

    This is a very important consideration. Crude oil when imported by OMCs is sent to refineries for further processing. A lower refinery consumption ratio leads to a lower quantity of refined petrol for sale and, thus increases the cost of petrol.

    4. Currency Conversion Rate

    The USD is the base currency to buy raw oil. If the USD strengthens against the INR, the buying cost of oil shall go up; when it weakens, the cost will be declined. Ups and downs in oil impact the buying cost of petrol as a result.

    Determinants of Bunk Prices

    1. Seasonal condition

    Seasonal conditions in oil producing countries have a direct impact on extracting raw oil. Oil manufacturing companies cannot have the same productivity throughout all seasons. A drop in productivity gives a boost to the buying cost of raw oil at global markets, thereby affects petrol prices at bunks.

    2. Weather reports

    Weather reports differ from seasonal conditions. Crude oil once purchased by OMCs is transported to refineries. When bad weather reports interrupt transportation activities, we are left with an inadequate quantum of refined petrol for consumption.

    3.Restricted refining capabilities

    There exists a dearth of refined petrol when refineries limit their refining capabilities due to high running expenses. So, usable oil is short in supply, leading to a price hike at bunks.

    4.Devaluation of USD

    As we know, crude oil is traded in US dollars. Oil manufacturing companies tend to tweak prices if the USD weakens against the major currencies of the world.

    LPG, Domestic LPG, CNG, Kerosene

    • Liquified Petroleum Gas (LPG) is a composition of commercial propane and commercial butane. It can be extremely dangerous. The way it is utilised, shifted, and bottled should be paid extreme importance. LPG, under moderate pressures, can be readily liquified.
    • Domestic LPG is a composition of hydrocarbons that are vaporous at usual temperature. Hydrocarbons can be stockpiled in cylinders and liquified at temperate pressure. Domestic LPG is a gas with no colors and not dangerous. The gas connection at homes should be done with utmost care.
    • Compressed natural gas (CNG), a fuel, can be utilised in lieu of propone, gasoline, diesel fuel. CNG ignition foodstuffs lesser detrimental gases than other fuels. In the event of a spill, it is harmless compared to other fuels. It can be discovered above oil repositories.
    • Kerosene, also called paraffin, is a combustible liquid and utilised as a fuel for power, heat, light. It is usually a multipurpose fuel and can be used effectively, carefully in order to get incredible results. Kerosene is famous among people for cost-effectiveness.

    Also check Today's Petrol Price in the most popular Indian cities

    Petrol Price in Delhi Petrol Price in Kolkata Petrol Price in Pune Petrol Price in Mumbai Petrol Price in Bangalore
    Petrol Price in Coimbatore Petrol Price in Chennai Petrol Price in Hyderabad Petrol Price in Ahmedabad Petrol Price in Gujarat

    *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 India Google Play

    • Petrol Prices likely to be Increased by 4 rupees

      For oil companies to return to pre-Karnataka poll hiatus margin levels, petrol prices in the country need to be increased by Rs.4 per litre. It needs to be mentioned that during the period of the freeze, oil companies had to bear a lot of loss as the global crude kept on increasing. As such, oil companies like IOC, HPCL and BPCL increased petrol prices immediately after the Karnataka elections got over.

      Following the increase in prices for the fifth consecutive day on Friday, the prices of petrol in the national capital have reached its highest in almost five years with every litre costing Rs.75.32. The oil companies had to bear a lot of loss because they had to absorb a higher cost that resulted from an increase in the international crude prices as well as for the fall of rupee against the US dollar. It is noteworthy that the benchmark international rate for petrol had gone up to 82.48 dollars per barrel by the time the freeze in petrol prices was lifted by the oil companies.

      18 May 2018

    • Petrol Prices in Metros Remain Unchanged for Ninth Consecutive Day

      State owned oil companies like HPCL, BPCL and IOCL decided to keep petrol prices unchanged for the ninth consecutive day even though international crude oil prices continued to rise. The decision of not increasing the petrol rates has been accounted to the upcoming Karnataka assembly elections that is scheduled for May 12. It needs to be mentioned that there is almost no chance of reduction in petrol prices as international crude prices have been volatile since the start of the year.

      Though the prices of petrol remained unchanged on Wednesday, the current rates in the four metros of the country were still at their highest in recent times. The price for every litre of petrol in the national capital cost Rs.74.63, which is at a six-year high. In Chennai, consumers had to pay Rs.77.43 for every litre of petrol. Petrol prices in the metro crossed the Rs.77 mark for the first since May 2012. In Kolkata and Mumbai, the prices were at their highest since May 2012 and March 2014 with one litre of petrol costing Rs.77.32 and Rs.82.48. As for international crude oil prices, Brent crude oil futures were up by 0.2 percent while US West Texas Intermediate (WTI) crude futures were up by 0.3 percent.

      4 May 2018

    • Petrol Prices Hiked again by State Owned Oil Companies

      Even though international crude prices dropped on Monday, state-owned oil companies continued to hike petrol prices in the country. The prices were hiked by 4 paise for every litre of petrol. Following the rise in prices, every litre of petrol cost Rs.74.02 in Delhi, Rs.81.87 in Mumbai, Rs.76.73 in Chennai and Kolkata. While in other places of the country, petrol prices hovered in the range between Rs.71 and Rs.79. In Chandigarh, petrol prices were Rs.71.18, it was Rs.75.19 in Bangalore, Rs.75.85 in Dehradun, Rs.79.53 in Patna etc. On the international front, Brent crude oil futures went down by 73 cents while U.S West Texas Intermediate (WTI) crude futures were down by 57 cents to be placed at 71.85 dollars and 66.82 dollars per barrel.

      16 April 2018

    • Petro Rates Jumped to their 4-year Record Prices

      On Sunday, petrol rate crossed their previous highs. The fuel was priced at Rs.73.73 per litre in Delhi, the capital city, at IOC. State-owned oil selling corporations, which have resetting the fuel prices daily since June previous year, have soared to fuel rate in the city by 18 paise. It is the highest price since 14 September 2014. It was previously sought by the Oil Ministry to depreciate the national-level tax on petrol to reduce the direct impact of overseas unrefined oil prices. But, this call was omitted in the recently announced Union Budget 2017-2018.

      The fuel prices, including petrol prices and diesel prices, have been higher in India compared to South Asian countries due to heavy tax brackets. Arun Jaitley, Finance Minister under the present BJP-led Government, has readjusted the excise duty 9 times since it the government came into existence in 2014. States were asked to reduce the VAT as well in October last year. Except 4 states, no other states in India have announced a cut in the state-level tax on petrol.

      2 April 2018

    • Petrol Price Today up by 6-7 paisa

      Petrol prices were up marginally in various cities, including Mumbai, Chennai, Kolkata and Delhi. Today, the price of petrol in Delhi stands at Rs.72.26 a litre. Yesterday, it was Rs.72.20 a litre. The petrol price in Kolkata today increased to Rs.75 a litre from Rs.74.94 a litre. Similarly, today, the petrol rate in Chennai soared to Rs.74.94 a litre from Rs.74.87 a litre. Today, i.e., 22 March 2018, the petrol prices in Bangalore, Chandigarh, Bhubaneswar and Bhopal were Rs.73.40 a litre, Rs.69.49 a litre, Rs.71.11 a litre and Rs.77.93 a litre respectively. US West Texas Intermediate (WTI) crude futures were priced at $65.39 a barrel. Since February, both benchmarks have been hovering around 10% from March lows.

      22 March 2018

    • Petrol Prices rise by 18 paise

      Petrol prices in the country saw a rise in the range of 18 to 19 paise on Friday. As per the information provided by Indian Oil Corporation, petrol prices in the Delhi, Kolkata and Mumbai saw a rise of 18 paisa while in Chennai the rise in petrol prices was 19 paisa. After the rise, the cost for every litre for petrol in the mentioned cities were Rs. 71.75, Rs. 74.50, Rs. 79.63 and Rs. 74.40 respectively. US West Texas Intermediate (WTI) crude was also up by 5 cents after it touched a two week low of 60.18 dollars on Thursday. US oil prices also edged up on Friday while Asian share markets extended a selloff on Wall Street. However, US crude remained on track for its first weekly decline in three weeks.

      2 March 2018

    • Petrol Prices fell further in prime cities of India

      The petrol price fell further in top cities of the country, including 4 metro cities on Thursday. Indian oil companies reported a fall of 15-16 paise in the price of petrol per litre in Chennai, Delhi Mumbai and Kolkata on Thursday. As per the information furnished on the website of Indian Oil Company, on 15 February 2018, petrol prices in Chennai, Delhi, Kolkata and Mumbai were Rs.75.49 per litre, Rs.72.79 per litre, Rs.65.98 per litre and Rs.67.43 per litre respectively.

      Since the second week of February 2018, petrol prices are reported to have lessened by 58-63 paise per litre. Since 1 January 2018 till 15 February 2018, the fuel prices hiked by Rs.2.77 per litre in the city of Kolkata, Rs.2.96 per litre in the city of Chennai and Rs.2.79 per litre in the city of Mumbai. The petrol rate for any given day will effect from 06:00 a.m. and shall be reviewed under the daily price revision system.

      15 February 2018

    • The recent cuts in the excise duty do not affect the Diesel Prices in the country

      The Union Budget was recently declared on 1 February 2018 by Arun Jaitley, who is the present Finance Minister. The kea areas of the budget were the development of the rural economy and infrastructure facilities and the social health. The budget has no impact on fuel prices even though it delivered a few radical changes. As anticipated, the Union Budget 2018-2019 proposed to dampen the central levy by Rs.2 a litre and the further cess by Rs.6 a litre.

      It was also proposed to levy a road cess of Rs.8 a litre. So, despite these radical changes, the diesel prices continued to retail at the same prices. Interestingly, on 2 February 2018, the diesel prices in the five Indian metro towns were seen unchanged. As per the Indian Oil Company, which is one of the three oil marketing companies (OMCs) in India, the diesel rates produced a rise of Rs.4.47 per litre compared to the Friday’s price. On Thursday, the day on which the Union Budget was presented, diesel rates Rs.68.27 a litre in Mumbai, Rs.67.62 a litre in Chennai and Rs.64.11 a litre in Delhi.

      5 February 2018

    • Central Taxes to cut in the Imminent Budget

      Petrol prices are on the rise. They climbed to Rs.72.38 per litre in New Delhi and this is the maximum rate since the current BJP-led government came into action. So, oil ministry seeks to decay central taxes. Since 2014, in the national capital, the petrol price hiked to Rs.72.38 a litre as per the official data announced by all state-run oil marketing companies. Petrol rates observed a rise of Rs.3.31 a litre since the middle of December last year. However, the next Union Budget proposes to cut central taxes on petrol.

      Center levies were earlier reduced to Rs.19.48 a litre on petrol and the present state VAT on petrol in Delhi is Rs.15.39 a litre. The growing prices of US West Texas Intermediate Crude and Brent, which are the two most transacted yardstick, have given a rise to petrol prices recently. Brent Crude Oil was sold at Rs.69.41 a barrel whereas the price of US West Texas Intermediate Crude Oil was $63.99 a barrel. At $64.89 a barrel, WTI Crude Oil breached its maximum rate since the last year 2014. So far, the current BJP-led NDA government revised the central excise duty on petrol prices 9 times.

      24 January 2018

    • Petrol Rates in India Climb since Overseas Market Tightens

      Oil marketing companies are instantly transmitting the variations in crude oil prices and the INR/USD exchange rate. This has given a rise to institutional auto fuel rates. On 17 January 2018, all OMCs increased the petrol price by 9 paise per litre in metros. After the daily revision, the petrol price was Rs.71.27 per litre in the national capital. The hike in international crude oil rates necessitated the rise in fuel rates.

      On Monday, Brent crude oil traded at $70.37 per barrel on 16 January 2018. In April 2017, the price of the Indian crude basket increased from $52.49 to $62 per barrel to $62 per barrel in the month of December 2017. This has witnessed a hike of 18%. Since early December, the throughout limit by oil producers increased by 15%. Robust fundamentals drove this rally.

      18 January 2018

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