Petrol Price In Karnataka Today

  • Today's Petrol Price ( 23 Oct 2019 )
    ₹ 75.72
    Current Petrol Price Per Litre
    Compare Petrol Price in Karnataka (Today & Yesterday)
    Today
    (23 Oct 2019)
    Yesterday
    (22 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 75.72 ₹ 75.72 ₹ 0 ↑
    Petrol Price in Karnataka - Last 10 Days Data
    Date Petrol ( / litre)
    23 Oct 2019 ₹ 75.72
    22 Oct 2019 ₹ 75.72
    21 Oct 2019 ₹ 75.78
    20 Oct 2019 ₹ 75.78
    19 Oct 2019 ₹ 75.78
    18 Oct 2019 ₹ 75.78
    17 Oct 2019 ₹ 75.78
    16 Oct 2019 ₹ 75.78
    15 Oct 2019 ₹ 75.78
    14 Oct 2019 ₹ 75.83

    Petrol Rate Trend

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    Petrol Price In Karnataka:

    Petrol price in Karnataka today is fixed under the daily ‘Dynamic Fuel Pricing’ method. Here, you can check the current petrol price in Karnataka, find today's petrol price with quarterly price trends in Karnataka. New petrol prices in Karnataka are updated daily at 6:00 am IST by state-run oil companies.

    Know how petrol prices in Karnataka are computed and how is it compared to other states. Also, find the current Karnataka petrol price and components affecting petrol prices in India. The below petrol price trend in Karnataka offers details like the highest and lowest petrol prices recorded during a month.

    Karnataka is one of the renowned south Indian states. Bangalore, the silicon valley of India, is the capital and largest city of the state with a huge network of IT and Non-IT companies. The state is the seventh biggest by region and eighth biggest by population. The real estate industry has always been booming in the state, attracting domestic and NRI investments.

    As on 31st March 2015, In India, the total count of licensed vehicles was 2,10,023,289 out of which the total count of licensed vehicles in Karnataka was 14,784,961. With the growing number of petrol-run and diesel-run vehicles in the state, the petrol and diesel consumption is also growing at an attractive rate.

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

    Parameters Rates/litre
    1st August Rs.75.26
    31st August Rs.74.41
    Highest Rate in August Rs.75.26 on 1 August
    Lowest Rate in August Rs.74.23 on 19,20,21,22 and 23 August
    Overall Performance Decline
    Percentage Change -1.12%

    Monthly Petrol Price Trend in Karnataka for August 2019:

    • The petrol price in Karnataka opened at Rs.75.26 per litre for the month of August. The price charged was 7 paise less than what was charged the previous day. This was the highest price recorded in the month.
    • Over the next three weeks, the price of petrol continued to fall due to poor demand and the trade tensions between US and China. The rates stabilised on 11 August for a few days before sliding to Rs.74.23 per litre on 19 August, the lowest recorded price in the month.
    • The petrol rate in Karnataka closed at Rs.74.41 per litre after the rates increased in the final week. The overall performance of petrol for the month of August in the southern state was –1.12%.

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

    Parameters Rates/litre
    1st July Rs.72.82
    31st July Rs.75.33
    Highest Rate in July Rs.75.90 on 23 and 24 July
    Lowest Rate in July Rs.72.82 per litre on 1 July
    Overall Performance Incline
    Percentage Change 3.45%

    Monthly Petrol Price Trend in Karnataka for July 2019

    • Petrol price in Karnataka opened the month at Rs.72.82 per litre – the lowest rate recorded during the month – and it inclined significantly by the end of the week to close at Rs.75.42 per litre as the Centre, in its 2019 Budget, announced an additional excise duty and cess of Rs.2 per litre to increase its revenue to fund its social welfare programs.
    • During the seond week, prices were reduced initially; however, it rose by the end of the wekk to close at Rs.75.55 per litre attributed by the sharp rise in crude oil prices in the market due to rising tensions in the Middle East despite output cuts led by the OPEC and its allies to keep markets stable.
    • The third week witnessed petrol prices in a rising trend even as crude oil prices continued to incline amid escalting tensions in the Middle East after the US Navy said it had shot down an Iranian drone.
    • By the end of the week, petrol prices in Karnataka rose to touch a monthly high of Rs.75.90 per litre on 23 and 24 July as crude prices in the oil market rose amid falling US inventories indicating a weak demand, and the escalating tensions in the Middle East after the US said it may have shot down a second Iranian drone in the region.

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

    Parameters Rates/litre
    2nd June Rs.73.89 per litre
    30th June Rs.72.72 per litre
    Highest Rate in June Rs.73.89 per litre on 2 June
    Lowest Rate in June Rs.72.26 per litre from 16-23 June
    Overall Performance Decline
    Percentage Change -1.59%
    • Petrol opened the month at Rs.73.89 per litre in Karnataka, up slight over the previous day’s rate recording the highest price during June amid slight increase in crude oil prices in the global market.
    • While prices declined during the first and second week, it increased in the fourth week before recording the lowest price of the month when petrol was sold at Rs.72.26 per litre on 16 June, which was kept unchanged until 23 June.
    • During the last week, petrol prices in Karnataka rose marginally even as crude oil prices stabilised after plunging by more than 10% in the last week of May despite the trade war between the US and China.
    • By the end of the month, petrol prices declined by 1.59% influenced by the fall in crude oil prices despite tensions in the Middle East after Iran shot down a US military drone and the sanctions on Iran.

    Also Check Petrol Price in Metro Cities

    Trends in Petrol Prices in Karnataka

    Petrol rates in Karnataka in the last three years have changed often. The change can be attributed to many reasons. Let’s consider the trend in petrol prices in Bangalore, the capital city of Karnataka, over the last five months. Petrol prices are moving in an upward direction in the capital and other major cities including Belgaum, Mysore, Davangere, Hubli.

    The petrol cost per litre in Bangalore has accelerated by 3.33% for July and by 5.47% for August of the current fiscal year. Both May and June 2017 had a decreasing trend. Prices were constant throughout April 2017. The lowest rate recorded since April 2017 is Rs.64.21.

    Petrol Prices in Karnataka vs. Other States

    It is quite interesting to note that both diesel and petrol rates have slashed soon after the implementation of GST, which is completely a new, streamlined taxation platform. With effect from 1st July 2017, Karnataka is the first south Indian state to offer lower prices for diesel and petrol. Fuel rates have fallen by Rs.3.00 per litre.

    As on 1st July 2017, the lowest price for diesel was recorded at Rs.53.65 a litre while in Bangalore it was Rs.54.23 a litre. Interestingly, petrol and diesel rates per litre in other states such as Delhi, Maharashtra, and Uttar Pradesh were comparatively high on the similar date.

    Quarterly Petrol Price Trend in Karnataka Between January and March 2019

    January February March
    Opening date price Rs.69.36/litre Rs.73.23/litre Rs.74.17/litre
    Closing date price Rs.73.47/litre Rs.74.06/litre Rs.75.21/litre
    Highest price Rs.73.66/litre recorded between 22nd and 28th Rs.74.06/litre recorded on 28th Rs.75.26/litre recorded on 24th, 25th, 26th and 27th
    Lowest Price Rs.69.05/litre recorded from 4th to 6th Rs.72.06/litre recorded on 11th, 12th and 13th Rs.74.17/litre recorded on 1st, 2nd and 3rd
    Trend Upward Upward Upward
    % Change 5.92% 1.13% 1.40%
    October November December
    Opening date price Rs.84.47 a litre Rs.80.04 a litre Rs.73.17 a litre
    Closing date price Rs.80.22 a litre Rs.73.53 a litre Rs.69.36 a litre
    Highest price Rs.84.72 a litre booked on the 4 October 2018 Rs.80.04 a litre booked on the 1 November 2018 Rs.73.17 a litre booked on the 1 December 2018
    Lowest Price Rs.80.22 a litre booked on the 30 and 31 October 2018 Rs.73.53 a litre booked on the 30 November 2018 Rs.69.36 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -5.03% -8.14% -5.21%

    Petrol Price Trend in Karnataka Between October and December 2018

    • In Karnataka and other states in the country, petrol and diesel rates are fixed daily under the ‘Dynamic Fuel Pricing’ method which includes the 14-day average price of the global crude oil price and the exchange rate of rupee-dollar.
    • Based on this mechanism, the petrol price in Karnataka on 1 October stood at Rs.84.47 per litre, a record high after crude oil prices were trading at a four-year high.
    • Prices rose to touch the highest rate for the month when a litre of petrol in Karnataka was sold at Rs.84.72 per litre on 4 October, prompting the Central government to announce a reduction in excise duty levied on the sale of fuel in the country.
    • While the Centre reduced Rs.1.50 per litre, it asked oil companies to further subsidise Rs.1 per litre which led to a drop in fuel prices in the country.
    • By the end of the month, petrol prices in Karnataka dropped to Rs.80.22 per litre on 30 October, thereby recording a 5.03% drop in crude oil prices during the month.
    • On 1 November, petrol in Karnataka was priced at Rs.80.04 per litre - the highest recorded for the month.
    • With crude oil prices marginally declining, petrol rates in Karnataka dropped during the month. The decline was influenced by the drop in geopolitical tensions between the US and China over trade between the two countries.
    • Prices dropped to its lowest for the month when it was sold at Rs.73.53 per litre on 30 November due to the fall in oil prices.
    • By the end of the month, petrol recorded a drop of 8.14% in Karnataka mainly due to the significant decline in oil rates as well as the appreciation of the rupee over the US dollar.
    • In December, petrol opened at Rs.73.17 per litre in Karnataka, which is also the highest petrol price in Karnataka for the month.
    • While the global crude oil was trading at $80 per barrel early October, it declined to around $56 per barrel late December, which led to a sharp drop in fuel prices in the country.
    • Petrol prices in Karnataka fell to Rs.69.36 per litre on 31 December in the back of a softening crude oil price.
    • The petrol price trend in Karnataka in December reflected a drop of 5.21% impacted by the steep fall in oil prices coupled with the appreciation of the rupee over the US dollar.
    July August September
    Opening date price Rs.76.77 a litre Rs.78.77 a litre Rs.81.27 a litre
    Closing date price Rs.78.81 a litre Rs.81.12 a litre Rs.84.15 a litre
    Highest price Rs.79.36 a litre recorded on the 14th Rs.81.12 a litre recorded on the 31st Rs.84.74 a litre recorded on the 2nd
    Lowest Price Rs.76.77 a litre recorded on the 1st Rs.78.77 a litre recorded on the 1st Rs.81.27 a litre recorded on the 1st
    Trend Upward Upward Upward
    % Change +2.65% +2.98% +3.54%

    Petrol Price Trend in Karnataka in July 2018

    • Similar to other states in India, fuel prices are revised on a daily basis in Karnataka based on the dynamic fuel pricing mechanism.
    • State-run oil firms fix the retail selling price of petrol and diesel based on the global crude oil price and the rupee’s exchange rate against the U.S. dollar.
    • On the 1st of July, the petrol price in Bengaluru, the capital city of Karnataka, stood at Rs.76.77 per litre. This was also the lowest price during the course of the month.
    • Oil companies kept petrol prices in Karnataka unchanged until the 5th before increasing it by 17 paise per litre.
    • Petrol prices continued to incline in the first and second week to touch the highest on the 14th when a litre of petrol was sold at Rs.79.36.
    • In the third and fourth weeks, petrol prices in Karnataka remained steady and closed for the month at Rs.78.81 on the 31st.
    • The rise in petrol prices in Karnataka was influenced by the increase in the global crude oil prices due to geopolitical tensions.
    • Overall, the petrol price trend in Karnataka in July inclined by 2.65% attributed to incline in oil prices in the global market.

    Petrol Price Trend in Karnataka in August 2018

    • Oil companies cut petrol price in Karnataka by 4 paise on the 1st of August when a litre of fuel was available at Rs.78.77. This was also the lowest price of the month.
    • Petrol prices continued to incline over the course of first and second weeks with relentless hikes by oil companies.
    • In Bengaluru, petrol prices breached the Rs.80 mark on the 20th when a litre was sold at Rs.80.06 offering no respite to the common man.
    • The second half of the month, petrol prices increased steeply to touch the highest price of Rs.81.12 per litre on the 31st of the month.
    • The significant rise in petrol prices was influenced by the incline in the global crude oil price which was prompted by geopolitical tensions between the U.S. and Iran over possible sanctions.
    • Overall, petrol prices in Karnataka during the course of the month rose by 2.98% primarily impacted by the rise in crude oil prices.

    Petrol Prices Trend in Karnataka in September 2018

    • Oil companies hiked petrol prices in Karnataka on the 1st of the month by 14 paise per litre to stand at Rs.81.27, this was the lowest petrol price for the month.
    • Petrol prices rose to touch its highest price of the month at Rs.84.74 per litre on the 17th influenced by the sharp rise in oil prices coupled with the fall in rupee’s exchange rate over the U.S. dollar.
    • On the 17th, the State government announced a cut in VAT levied on petrol by Rs.2 per litre, which offered some respite to consumers.
    • The cut in the VAT on the sale of petrol led the petrol price to decline by Rs.1.92 per litre on the 18th of the month.
    • By the end of the month, petrol price rose despite the cut in the VAT with a litre of petrol sold at Rs.84.15 per litre on the 31st of the month.
    • The petrol price trend in Karnataka in the month of September rose sharply by 3.54% mainly influenced by the rise in oil rates and the steep decline in the exchange rate of rupee over the U.S. dollar.
    April May June
    Opening date price Rs.74.90 per litre Rs.75.82 per litre Rs.79.61 per litre
    Closing date price Rs.75.82 per litre Rs.79.67 per litre Rs.76.77 per litre
    Highest price Rs.75.86 per litre recorded on 24th Rs.79.75 per litre recorded on 29th Rs.79.61 per litre recorded on 1st
    Lowest price Rs.74.90 per litre recorded on 1st Rs.75.82 per litre recorded from 1st to 11th Rs.76.77 per litre recorded from 27th to 30th
    Trend Upward Upward Downward
    %Change +1.23% +5.08% -3.57%
    Petrol Price Trend in Karnataka

    Petrol Price Trend in Karnataka in April 2018

    • On the first day of the month, the petrol price in Karnataka stood at Rs.74.90 per litre, the lowest for the month.
    • With crude oil prices slightly moving upwards, petrol prices were revised accordingly with an average rate between Rs.75 to Rs.76.
    • The highest petrol rate in the month was recorded at Rs.75.86 per litre on the 24th.
    • Despite an increase in petrol prices, the incline trend did not indicate a significant rise in fuel prices in the country.
    • Overall, the month indicated an upward trajectory in petrol prices in the State by 1.23% due to the rise in oil prices in the international market.

    Petrol Price Trend in Karnataka in May 2018

    • Oil companies kept the petrol price unchanged since the 24th of the previous month due to the 2018 Karnataka Assembly Elections scheduled to be held on the 11th.
    • After a 19-day hiatus, fuel companies began revising petrol prices under the daily pricing mechanism.
    • Oil companies follow the ‘Dynamic Fuel Pricing’ mechanism to compute fuel prices in India. The preceding day’s global crude oil rate and the currency exchange value are considered before selling petrol at its Retail Selling Price (RSP).
    • Petrol prices increased sharply during the second and third week as the crude oil rate increased to record at $80 per barrel.
    • Fuel prices reached a new record of Rs.79.75 per litre as the global crude oil continued to move upwards.
    • On the closing day, the petrol price in Karnataka stood at Rs.79.67 per litre – a slight fall from its peak rate.

    Petrol Price Trend in Karnataka in June 2018

    • Fuel companies sold petrol at Rs.79.61 per litre on the opening day of the month, down by 6 paise compared to the previous the day.
    • With fuel prices on the rise around the globe, the Organisation of Petroleum Exporting Countries and its ally Russia decided to meet on 22 June 2018 to discuss ways to the rising oil prices.
    • Crude oil prices continued to fall marginally and the petrol price was revised accordingly.
    • Over the course of the month, the highest petrol price in Karnataka stood at Rs.79.61 per on the opening day of the month.
    • The OPEC and Russia decided to increase the crude or unrefined oil output to the address the concern of higher fuel prices across the world.
    • By the end of the petrol price in Karnataka fell to lowest of Rs.76.77 per litre, which was kept unchanged from the 27th to the end of the month.
    January February March
    Opening date price Rs.71.06 per litre Rs.74.20 per litre Rs.72.69 per litre
    Closing date price Rs.74.07 per litre Rs.72.63 per litre Rs.74.71 per litre
    Highest price Rs.74.07 per litre recorded on 30 Rs.74.54 per litre recorded on 6 Rs.74.71 per litre recorded on 31
    Lowest price Rs.71.06 per litre recorded on 1 Rs.72.62 per litre recorded on 23 Rs.72.69 per litre recorded on 1
    Trend Growing Decreasing Growing
    % Deviation 4.06% (Up) 2.16% (Down) 2.70% (Up)
    Petrol Price Trend in Karnataka

    Trend in Petrol Rate in Karnataka in January 2018

    • Petrol was valued at Rs.71.06 per litre in Bangalore, the capital city of Karnataka and Rs. 71.17 per litre in Belgaum on 1. Almost the same price was observed in other prime cities, including Mysore and Hubli.
    • The fuel continued gaining its rate under the dynamic fuel pricing mechanism that takes into account the changes in the INR/USD exchange rate and crude oil costs internationally.
    • Within the first fifteen days, the fuel entities declared a rise of 1.73% in the petrol price in major cities since the Indian Crude Oil Basket gained its price substantially.
    • Bangalore, Belgaum, Hubli and Mysore have recurrently augmented the fuel price until the last day of the month because of the stabilized demand, interrupted production and supply of unrefined oil.
    • As a result, on 21, the last day of the week 3, the price offer of petrol accelerated to Rs.73.21 a litre and Rs.73.92 per litre on 28.
    • Indian Oil Company, BPCL and HPCL unveiled the highest petrol price at Rs.74.07 per litre on 30 and extended the same rate on 31 as well.
    • January produced a 4.06% increase in the fuel price as a result of almost a 5-rupee up in the crude oil rate, but not due to domestic factors.

    Trend in Petrol Price in Karnataka in February 2018

    • Unlike the previous month, February depicted a mixed reaction in the petrol price influenced by irregularities in crude oil costs. In Bangalore, the fuel rate as on the opening date was Rs.74.20 a litre.
    • Even though the Union Budget was unveiled on 1 for the fiscal year 2018-2019, the OMCs neither reported a price drop nor a price up.
    • The upward trend was extended until 06 and the highest rate was booked at Rs.74.54 per litre in Karnataka within the first week.
    • 7 onwards, all the three OMCs have begun deteriorating the price offer in tandem with the variations in the global parameters.
    • However, the fuel lost its price by almost a rupee per litre at the end of the week 2 impacted by a gained dollar.
    • BPCL, HPCL and Indian Oil further depreciated the petrol rate to Rs.72.84 a litre on 21 and elongated the downward trend until 28, the last day.
    • An aggregated price of WTI and Brent Crude Oil soared by 5.53% this month and thus, the petrol rate depreciated by 2.16%. The domestic influencers such as the Value-added Tax and the excise duty were retained unchanged during this month.

    Trend in Petrol Price in Karnataka in March 2018

    • The average fuel price stood at Rs.72.60 a litre and the lowest price was booked at Rs.72.69 a litre on 1 at HPCL and BPCL.
    • Between 7 and 15, the fuel rate has increased to Rs.73.59 a litre at a growth rate of 0.08% as the USD/INR conversion rate decreased slightly.
    • On 21, 22, 23, 24, 25, 26 and 27, the petrol price was Rs.73.33 a litre, Rs.73.40 a litre, Rs.73.44 a litre, Rs.73.52 a litre, Rs.73.69 a litre, Rs.73.94 a litre and Rs.74.05 a litre correspondingly.
    • Over the last three months, the cost of crude oil has been depreciated to $63.80 per barrel. Domestic factors were not changed.
    • Therefore, the closing price and the highest price for the month was Rs.74.71 a litre and the overall price has been hiked by 2.70%.

    How are Petrol Rates in Karnataka Computed?

    Petrol is priced based on a few considerations such as the cost of unrefined oil, which is traded in the USD; the refinery transfer price, which is the price paid by oil marketing companies to refineries; the central excise duty, which is fixed across the nation; the state VAT, which is the VAT imposed on petrol by the Karnataka government; and finally the dealer’s commission, which is the commission charged by retail petrol stations. The retail selling price of petrol in Karnataka includes all these cost elements. If any of these elements varies, the RSP will be adjusted accordingly.

    How Frequently are Petrol Prices in Karnataka Updated?

    Earlier, fuel price revision used to happen on the first and sixteenth of each month. Fuel rates used to be constant at least for a period of fifteen days. Currently, we have a new fuel pricing system called dynamic fuel pricing or daily revision of fuel prices in all cities of Karnataka.

    The new system revises fuel prices on a daily basis based on two important factors:

    1. crude oil prices and
    2. the currency conversion rate. Why?

    Indigenous production of crude oil in India is just 25% of the country’ oil requirements and the rest 75% is sufficed through importing. However, variations in crude oil prices and the currency conversion rate should be reflected in the selling price of fuels. The new system is transparent, perfect. Tracking information is easy for consumers as the biggest oil brands such as Indian Oil, HP, BP, and Shell have designed some means to get the latest information. Daily revision of petrol rates is a good proposal for many reasons. Firstly, it enables customers to absorb regular petrol price variations in Karnataka by a little margin. In case of fortnightly-based revision, there used to be big variations.

    Impact of GST on Petrol Prices in Karnataka

    The Goods and Services Tax (GST) excludes the oil and natural gas industry till now. If it was imposed, the cost of compliance would have increased. The industry participants were required to conform to the current and GST tax regimes. If it was imposed on petrol, the cost of petrol per litre would have come down at least by Rs.15-20.

    The highest rate fixed by the GST council till today is 28%. Even if 28% GST tax bracket was imposed on petrol, the revenues for the government would have adversely been affected. A few experts are of the opinion that GST can also be imposed on petrol, diesel, and petroleum products. In fact, the issue was debated in the recent past.

    Petrol vs. Diesel Rates in Karnataka

    The process of daily revision of fuel prices has already been active in the state since 16th June 2017. Petrol rates in Bangalore and other major cities of Karnataka have reduced since dynamic fuel pricing. As on 6th October 2017, a litre of petrol costs Rs.69.17 while a litre of diesel costs Rs.56.79 in Mysore. A litre of diesel costs Rs.56.95 while a litre of petrol costs Rs.69.34 in Mandya. In Koppal, a litre of petrol costs Rs.70.08 while a litre of diesel costs Rs.57.64.

    In Kolar, a litre of petrol costs Rs.69.34 while a litre of diesel costs Rs.56.95. In Haveri, a litre of diesel costs Rs.57.46 while a litre of petrol costs Rs.69.88. A litre of petrol in Belgaum costs Rs.69.49 a litre while a litre of diesel costs Rs.57.12. In Shimoga, a litre of diesel costs Rs.70.07 while a litre of petrol costs Rs.57.58. Entry taxes were banned in the state on 2nd July 2017 and, as a result, diesel and petrol rates were down by Rs.3 per litre.

    In a nutshell, Karnataka is one of the south Indian states to charge petrol and diesel quite reasonably. The recent cut in entry taxes is the primary highlight in Karnataka. Diesel and petrol prices are envisioned to be steady over the next few months unless there are major changes in overseas crude oil.

    Also Check Petrol Price in NearBy Cities of Karnataka

    *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 Karnataka

    • Petrol Prices Cut By 13 Paise

      Petrol prices have been cut by up to 13 paise across metro cities today. There has been a steady drop in fuel rates across the country since the start of the week after prices saw steep rises the previous month.

      Petrol prices have seen a drop of Rs.1.14 paise since 2 October, in a major relief to motorists ahead of the festive season. This is despite a rise in the benchmark Brent crude prices, which rose after comments by OPEC on balancing oil markets at its meeting in December 2019.

      Petrol prices in Mumbai dropped by 12 paise per litre, with pumps charging Rs.79.03 per litre in the city. Motorists in Delhi will be paying 12 paise less at petrol pumps, with the effective rate being Rs.73.42 per litre.

      Petrol prices in Kolkata have dropped by 11 paise per litre, with motorists paying Rs.76.07 per litre compared to Rs.76.18 per litre yesterday.

      The price of petrol in Chennai is Rs.76.25 per litre, a reduction of 13 paise per litre compared to yesterday’s price at fuel stations.

      11 October 2019

    • Petrol prices kept constant in the country

      State-run Oil Marketing Companies (OMCs) on Friday kept the rates of petrol constant across the metropolitan cities of the country. Following Friday’s revision in the prices, a litre of petrol was retailed for Rs.72.01 in New Delhi, the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai a litre cost Rs.77.67, Rs.74.71, and Rs.74.80 respectively. In Noida and Gurugram, consumers were required to pay Rs.73.92 and Rs.72.13 per litre. It needs to be mentioned here that the prices of petrol were slashed by 6 paise per litre across all the metropolitan cities on Thursday.

      In the international oil market, the prices of crude oil fell on Friday. The futures of Brent crude oil were down by 7 cents or 0.1 percent and was trading at $61.01 per barrel since the last close.

      In India, the rates charged for fuel are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is primarily because India imports 80 percent of the total crude requirements.

      30 August 2019

    • Petrol prices hiked by 8 paise on Saturday

      State-run Oil Marketing Companies (OMCs) on Saturday increased the prices of petrol by 8 paise per litre. The hike in the prices came after four days of the prices being kept constant across the metropolitan cities of the country.

      As per the IOC website, every litre of petrol was retailed for Rs.71.92 in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai consumers were required to shell out Rs.77.58, Rs.74.62, and Rs.74.70 respectively.

      It needs to be mentioned here that the prices charged for fuel are revised daily after state-owned Oil Marketing Companies (OMCs) adopted the dynamic pricing scheme 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. It must be noted here that India imports 80% of the total crude oil requirement.

      24 August 2019

    • Bengaluru to impose “No Helmet, No Fuel” rule

      Following the footsteps of Noida and Aligarh’s “No helmet, no fuel” rule, Bengaluru’s traffic police are all set to impose the same rule across all petrol stations. According to reports, meetings are being conducted with the fuel stations for cooperation.

      If the rule is implemented, two-wheeler riders without a helmet will be denied fuel at gas stations. Speaking to the media, P Harishekaran, Additional Commissioner of Police, Traffic said that “No helmet No fuel” is a concept designed to prevent both fatal and non-fatal accidents. Two-wheeler riders who reach the fuel stations without a helmet, the fuel station crew will deny them petrol. As per the commissioner, talks are being held with fuel stations asking for cooperation.

      He also said that he is planning to write to all fuel suppliers like Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, Reliance Petroleum Limited, and other petroleum companies regarding the implementation of the rule and so that all fuel stations falling under these entities can cooperate.

      As of now, a fine of Rs 100 is being levied on motorbike riders for not wearing helmets. However, as per the traffic police, not wearing a helmet while riding is still taken lightly.

      According to an official data released by the Bengaluru Traffic Police, 105 riders have lost their lives and 667 have suffered injuries in accidents reported in Bengaluru city between January 1 and June 30 this year.

      31 July 2019

    • Petrol Price Kept Unchanged, Diesel Prices Decline Today

      State-controlled Oil Marketing Companies (OMCs) kept petrol prices unchanged while decreasing diesel prices today across major metro cities of the country. Diesel prices were cut by 6 to 11 paise per litre. In Mumbai, petrol costs Rs.78.52 per litre and diesel costs Rs.69.43 per litre. In Delhi, petrol is being sold at Rs.72.90 per litre while diesel costs Rs.66.24 per litre. In Kolkata, petrol is available at Rs.75.12 per litre and diesel is available at Rs.68.31 per litre. In Chennai, petrol is being retailed at Rs.75.70 per litre and diesel is being sold at Rs.69.96 a litre. It may be noted that petrol and diesel prices rose significantly on 6 July after the Central Government, in the Union Budget on Friday, announced to increase excise duty of Rs.2 per litre. Of the Rs.2 per litre, the road infra cess of Re.1 will go to the road ministry while the special duty of Re.1 will go to the revenue department.

      Meanwhile, crude oil prices in the international market inclines as US oil producers in the Gulf of Mexico reduced more than half their production amid a tropical storm and the ongoing tensions in the Middle East. International benchmark, Brent crude futures inclined by 0.6% or 37 cents at $66.89 per barrel by 0115 GMT. On Thursday, Brent had closed down 0.7% after touching its highest since 30 May at $67.52 per barrel.

      15 July 2019

    • US Secretary of State promises adequate oil supplies to India

      While India try to buffer its consumers from the hike in global oil prices, US secretary of state Mike Pompeo has promised India of adequate crude oil supplies after the ban on Iranian crude oil. At the India International Centre, Pompeo said that they were doing everything to ensure adequate crude imports to India. It needs to be mentioned that India was among the top oil buyers for Iran before U.S’s conditional waiver for Iranian oil imports expired on May 2. With India’s external affairs minister on Wednesday speaking about both countries finding a common ground on energy, Pompeo also expressed US’ interest in the idea of providing clean energy. The interest comes in the backdrop of India announcing an aim to set up 500 gigawatts (GW) of renewable energy capacity by 2030, which could reshape the global energy market dynamics. It is noteworthy to mention here that India is running the world’s largest renewable energy programme and aims to achieve 175 gigawatts (GW) of renewable energy by 2022 as part of its climate commitments. The country is also working on making a transition to a gas-based economy.

      28 June 2019

    • Petrol Prices Remain Static across Major Cities

      Oil Marketing Companies on Thursday kept the petrol prices static across the major cities of the country. In New Delhi, the national capital of the country every litre of petrol was retailed for Rs.71.18 while in Mumbai the rate charged was Rs.76.79 per litre. In the other two metropolitan cities i.e., Kolkata and Chennai consumers had to pay Rs.73.25 and Rs.73.88 for purchasing one litre of petrol.

      The rates charged for a litre of petrol in the national capital was cheapest among all the other metros and state capitals as the tax charged is low as compared to other cities. In the international oil market, crude prices went up on Thursday. The futures of Brent crude oil shot up by 0.4% and was trading at $72.04 per barrel. It needs to be mentioned here that India imports 80% of its crude requirements. Given this fact, the rates of fuel charged by OMCs are dependent on the global oil prices and the rupee-US dollar exchange rate.

      21 May 2019

    • Petrol Prices Slashed Today

      State-owned oil companies slashed petrol prices today while diesel prices were kept unchanged across major metro cities of the country. Petrol rates were cut by 5 paise per litre. In Delhi, petrol is being retailed at Rs.72.80 per litre as against Monday’s price of Rs.72.85 per litre, and diesel is being sold at Rs.66.11 per litre, no change compared to yesterday’s rate. In Mumbai, petrol costs Rs.78.37 per litre, a 5 paise cut compared to yesterday's price and diesel is available at Rs.69.19 per litre. In Chennai, petrol is available at Rs.75.56 per litre and diesel costs Rs.69.80 a litre. After the revision, in Kolkata a litre of petrol costs Rs.74.82 and diesel costs Rs.67.85 a litre. Petrol was retailed at Rs.74.87 per litre and diesel at Rs.67.85 a litre in Kolkata yesterday. New prices are effective from 6:00 am IST.

      Petrol and diesel prices are proportional to global crude oil prices and the rupee-dollar exchange rate. On Tuesday, in the global oil market, crude oil prices declined due to weak economic outlook. International benchmark Brent crude oil futures rose to touch the highest level since November last year at $71.34 per barrel, before dropping to $70.96 per barrel, declining by 14 cents or 0.2% compared to its previous settlement. Crude oil prices have inclined by about 7% in the last one month, with Brent crude past $70 mark.

      15 April 2019

    • Petrol prices up by Rs.0.09 to Rs.0.10

      The rates of petrol in the country was hiked by Rs.0.09 to Rs.0.10 on Sunday. In Delhi, the national capital consumers were required to pay Rs.72.40 for every litre of petrol. The rates charged on Sunday was Rs.0.09 more than what was charged on Saturday.  

      In the financial capital of the country i.e., Mumbai, one litre of petrol cost Rs.78.03 while in Kolkata the rates were Rs.74.48, as per the data on IOC’s website. In Chennai, the price of petrol was increased by Rs.0.10 on Sunday which saw the rates climb to Rs.75.19 per litre. 

      The increase in the rates of petrol can be largely attributed to the rise in the price of international crude oil. Given the sudden rise in the price of international crude oil, India raised its concern regarding the matter with Saudi Arabia’s Minister of Energy. 

      It needs to be mentioned here that the government wants to keep the prices of fuel under control in the days leading up the general elections in order to prevent any outrage among the consumers. 

      13 March 2019

    • Punjab govt. cut the rates of petrol by Rs.5

      Oil Marketing Companies (OMCs) continued to hike the prices of petrol for the fifth consecutive day across all the four metro cities of the country on Monday. The rates were increased by Rs.0.15 to Rs.0.16 per litre. Interestingly, at a time when the rates are being increased by OMCs, the Punjab government has announced that it has slashed the rates of petrol by Rs.5 per litre.  

      The decision to cut the rates comes after State Finance Minister Manpreet Singh Badal presented the state budget for FY20. The total outlay of Rs.1, 58, 493 crore comes with no new taxes.  

      It needs to be mentioned here that the budget is focussed on agriculture, health, education and, rural and urban infrastructure. The total outstanding debt was projected at Rs.2, 29, 612 crore for 2019-20. 

      20 February 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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