Petrol Price In Kerala Today

Petrol price in Kerala today is calculated based on the daily ‘Dynamic Fuel Pricing’ mechanism. Here, you can check the current petrol price in Kerala. Also find today's petrol price with quarterly price trends in Kerala. It may be noted that new petrol prices in Kerala are updated daily at 6:00 am IST.

Know how petrol prices in Kerala are fixed and how it compares to other states. Find the current Kerala petrol price and factors affecting petrol prices in India. The below petrol price trend in Kerala offers an insight into the highest and lowest petrol prices recorded during a month.

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  • Today's Petrol Price ( 18 Apr 2019 )
    ₹ 76.26
    Current Petrol Price Per Litre
    Compare Petrol Price in Kerala (Today & Yesterday)
    Today
    (18 Apr 2019)
    Yesterday
    (17 Apr 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.26 ₹ 76.26 ₹ 0 ↑
    Petrol Price in Kerala - Last 10 Days Data
    Date Petrol ( / litre)
    18 Apr 2019 ₹ 76.26
    17 Apr 2019 ₹ 76.26
    16 Apr 2019 ₹ 76.26
    15 Apr 2019 ₹ 76.31
    14 Apr 2019 ₹ 76.19
    13 Apr 2019 ₹ 76.19
    12 Apr 2019 ₹ 76.19
    11 Apr 2019 ₹ 76.13
    10 Apr 2019 ₹ 76.13
    09 Apr 2019 ₹ 76.13

    Petrol Rate Trend

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    • 6 Months

    Petrol Prices in Kerala

    Kerala has witnessed 20% hike in the monthly utilisation of petroleum products. One of the main reasons behind the increased consumption is load-shedding. Many people are using power generators, which consume petroleum fuel.

    What is the Mechanism used to Determine the Cost of Petrol in Kerala?

    The daily revision is currently in practice throughout the state since 16 June 2017. The daily revision is also called ‘dynamic fuel pricing.’ Before 16 June 2017, fuel rates in Kerala used to be revised twice a month, which is on the sixteenth and first of every month. The fortnightly-based revision was used by all state-run oil marketing companies for the last 15 years.

    The daily revision plays a significant role in transmitting the volatility of the exchange rate and worldwide crude oil prices instantly to petrol customers. The exchange rate and the price of crude oil are highly volatile in nature. They tend to change regularly. Since the petrol price is revised on a daily basis under the new system, market-determined prices can be immediately shifted to consumers. This is the biggest advantage of dynamic fuel pricing.

    The daily revision has been in practice in developed economies such as the United State of America (USA) and Australia. The Government of India has adopted the new system in order to bring transparency in fuel pricing and encourage the best inventory management practices. Petrol prices in Kerala once revised at 06:00 a.m. every day will be made available to customers.

    Trends in Petrol Prices in Kerala

    Let’s consider the three major cities of Kerala for analyzing trends. In Trivandrum, the average price of petrol was Rs.72.18 between 10 October 2017 and 16 October 2017. In Kozhikode, between 10 October 2017 and 16 October 2017, the average rate of petrol was Rs.72.11. For the same period, the average cost of petrol in Kottayam was Rs.72.14. The average price was almost the same across the three major cities in Kerala.

    Petrol Prices in Kerala and other States

    Between 10 October 2017 and 16 October 2017, the average price of petrol in Kerala was Rs.72.14, which was the consolidated average of the three major cities the state. The average cost of petrol in Karnataka for the same tenure was Rs.69.46. In Maharashtra, it was Rs.75.92. The petrol rate in Mumbai was high compared to other states.

    Quarterly Petrol Price Trend in Kerala Between October and December 2018

    October November December
    Opening date price Rs.87.20 a litre Rs.82.71 a litre Rs.75.84 a litre
    Closing date price Rs.82.89 a litre Rs.76.20 a litre Rs.71.98 a litre
    Highest price Rs.87.45 a litre booked on the 4 October 2018 Rs.82.71 a litre booked on the 1 November 2018 Rs.75.84 a litre booked on the 1 December 2018
    Lowest Price Rs.82.89 a litre booked on the 30 and 31 October 2018 Rs.76.20 a litre booked on the 30 November 2018 Rs.71.98 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -4.95% -7.87% -5.09%

    Petrol Price Trend in Kerala Between October and December 2018

    • Fuel prices in India are based on the 14-day average rate of crude oil in the international market and the exchange rate of the rupee over the US dollar.
    • Rates are revised daily by State-run oil companies in India and are updated at 6:00 am every day. On 1 October, the petrol price in Kerala stood at Rs.87.20 per litre.
    • Petrol prices were on record highs due to the rising crude oil prices in the market triggered by the trade war between the US and China as well as after the US pulled of the Iran nuclear deal.
    • Prices touched the highest for the month when a litre was sold at Rs.87.45 per litre on 4 October prompting the Centre to cut excise duty of Rs.1.50 per litre and asked oil firms to further subsidise Rs.1 per litre.
    • By the end of the month, petrol prices in Kerala declined to Rs.82.89 per litre on 30 and 31 October, dropping by 4.95% over the opening price of the month.
    • On 1 November, the petrol rate in Kerala stood at Rs.82.71 per litre – the highest price recorded for the month.
    • There was a marginal decline in oil prices in the global market which prompted oil firms to pass on the reduction to consumers.
    • On 30 October, the lowest petrol price in Kerala was recorded for the month when a litre was available at Rs.76.20 per litre.
    • Overall, the petrol price trend in Kerala for the month declined significantly by 7.87% influenced by the drop in crude oil prices and a slight appreciation of the Indian currency over the US dollar.
    • In December, petrol was priced Rs.75.84 per litre on the first day of the month. This was also the highest price registered during the month.
    • With the geopolitical tension on the decline, the global crude oil price dropped significantly from $80 per barrel early October to $56 per barrel late December.
    • This prompted petrol prices in Kerala to drop to Rs.71.98 per litre on 31 December – the lowest rate recorded during the month.
    • The petrol price trend in Kerala in December fell by 5.09% mainly attributed to the massive decline in crude oil price coupled with the appreciation of the rupee over the US dollar.

    Quarterly Petrol Price Trend in Kerala between July and September 2018

    July August September
    Opening date price Rs.78.39 a litre Rs.79.23 a litre Rs.82.14 a litre
    Closing date price Rs.79.52 a litre Rs.81.85 a litre Rs.87.05 a litre
    Highest price Rs.80.16 a litre recorded on the 14th Rs.81.85 a litre recorded on the 31st Rs.87.05 a litre recorded on the 30th
    Lowest Price Rs.78.39 a litre recorded on the 1st Rs.79.23 a litre recorded on the 1st Rs.82.14 a litre recorded on the 1st
    Trend Upward Upward Upward
    % Change +1.42% +3.20% +5.64%

    Petrol Price Trend in Kerala in July 2018

    • Petrol prices in India are revised on a daily basis under the dynamic fuel pricing mechanism, which is updated by State-run oil companies.
    • Oil companies base the global crude oil price and the exchange rate of rupee over the U.S. dollar, making both these factors significant in fixing the retail selling price of petrol in Kerala as well as other states.
    • On the 1st of July, the petrol price in Thiruvananthapuram - the capital of Kerala - stood at Rs.78.39 per litre, the lowest price for the month.
    • Petrol prices during the first week rose to touch Rs.78.81 per litre but dropped to Rs.78.53 by the 6th, post which it continued to incline to touch the highest price of Rs.80.16 per litre on the 14th.
    • After touching a high, petrol prices declined over the course of third and fourth weeks and by the end of the month, a litre of petrol in Kerala stood at Rs.79.30.
    • In the month of July, petrol prices witnessed an upward trend of 1.42% influenced by the fluctuations in the global crude oil price and the exchange rate of rupee over the U.S. dollar.

    Petrol Price Trend in Kerala in August 2018

    • Oil companies cut the petrol price in Kerala by 7 paise on the 1st of August as a litre of petrol was sold at Rs.79.23 as per the dynamic fuel pricing mechanism - the lowest petrol price in August in Kerala.
    • Petrol prices during the first and second week continued to rise with no respite to consumers as the global crude oil price moved upwards.
    • Despite the significant rise in petrol prices in the country, there was no cut in taxes either from the State or the Centre and oil companies continued to absorb any decline in oil prices instead of passing it on to consumers.
    • The upward trend was witnessed during third and fourth weeks as well with petrol prices touching record highs.
    • By the end of the month, the highest petrol price in August was recorded at Rs.81.85 per litre on the 31st of the month.
    • Overall, petrol prices in Kerala during the month rose by 3.20% compared to the opening price of the month. The rise in prices is attributed to the increase in oil prices in the international market due to geopolitical tensions.

    Petrol Price Trend in Kerala in September 2018

    • A litre of petrol in Kerala on the 1st of September stood at Rs.82.14, up by 39 paise over the previous day’s price, this was also the lowest price for the month.
    • The geopolitical tensions of a possible trade war between the U.S. and China led the oil price to rise significantly in September.
    • Per barrel of crude oil was trading in bourses at $80 - a four-year high, which prompted petrol prices in Kerala and other states to incline considerably.
    • Along with the rise in crude oil prices, the rupee declined to its all-time low with the exchange rate touching Rs.72 against the dollar.
    • Petrol prices continued to breach new records with relentless hikes by oil companies across the country.
    • Except for certain states such as Rajasthan, Karnataka, West Bengal and Andhra Pradesh, no other states nor the Central government reduced any form of taxes which kept petrol prices on record highs.
    • The highest petrol price recorded for the month stood at Rs.87.05 per litre, up by nearly Rs.4 per litre when compared to the opening price of the month.
    • Petrol price trend in Kerala in September was upward and grew significantly by 5.64% impacted by high crude oil prices and the fall in exchange rate of the rupee.

    Quarterly Petrol Price Trend in Kerala Between April and June 2018

    April May June
    Opening date price Rs.77.67 per litre Rs.78.61 per litre Rs.81.48 per litre
    Closing date price Rs.78.61 per litre Rs.82.58 per litre Rs.78.63 per litre
    Highest price Rs.78.65 per litre recorded on 24th Rs.82.66 per litre recorded on 29th Rs.81.48 per litre recorded on 1st
    Lowest price Rs.77.67 per litre recorded on 1st Rs.78.61 per litre recorded from 1st to 11th Rs.78.63 per litre recorded from 27th to 30th
    Trend Upward Upward Downward
    %Change +1.21% +5.05% -3.50%

    Petrol Price Trend in Kerala in April 2018

    • On the 1st of the month, the petrol price in Thiruvananthapuram, the capital city of Kerala, stood at Rs.77.67 per litre. Fuel prices in Kerala and other states in India are revised on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism. This price is also the lowest recorded cost of petrol in Kerala for the month.
    • Petrol prices in Kerala for the next two weeks rose marginally by as much as 29 paise per litre compared to the opening date price. Fuel prices are revised according to the global crude oil prices by state-run oil marketing companies (OMCs).
    • The slight increase in petrol price is attributed to the marginal increase in the international crude oil prices.
    • By the end of the month, petrol prices increased by as much as 1.21% compared to the opening price of petrol in the state of Kerala.
    • The incline in petrol prices is largely attributed to the increase in the crude oil prices which is sold in barrels in the global market.

    Petrol Price Trend in Kerala in May 2018

    • OMCs didn’t revise the petrol price in Kerala till the 11th of the month due to the 2018 Karnataka Assembly Election which was held on the 11th.
    • The petrol price in Kerala on the 1st stood at Rs.78.61 per litre which continued till the 11th similar to other cities in the country. This was also the lowest petrol price in the state for the month.
    • With the Karnataka State Assembly concluded, fuel companies began the exercise of revising petrol prices across the country.
    • Petrol prices in Kerala and across the country started increasing sharply as the global crude oil price touched $80 per barrel which led to the higher price of the fuel.
    • On 29th May 2018, the petrol price in Kerala touched an all-time high of Rs.82.66 per litre much to the dismay of consumers across the country.
    • The rise on global crude oil rates is attributed to geopolitical fears as the US administration decided to pull out of the nuclear deal with Iran. With the backdrop of a possible shortage in supply of crude oil from Iran, the cost of crude oil rose sharply.
    • Petrol prices in Kerala during the month reflected a rise of 5.05% overall mainly impacted by the rise in the price of crude oil in the international market.

    Petrol Price Trend in Kerala in June 2018

    • After touching an all-time high, the petrol price in Kerala in the 1st declined slightly with the price of crude oil relenting much to the relief of customers.
    • During the first few days, petrol prices in Kerala remained steady with the prices falling below Rs.80 mark on the 11th.
    • Crude oil rates fell by 1% and oil companies began reducing the petrol price in cities across the country including Kerala.
    • From a high of $80 per barrel, oil prices began to decline to post $73.50 during the second week of the month.
    • The Organisation of Petroleum Exporting Countries (OPEC) met on 22 June 2018 to decide on the future course of action against the sharp incline in crude oil rates. The OPEC along with its key ally Russia agreed to increase the output slightly to address the concern of the rising fuel prices.
    • With the global crude oil price on the decline, the petrol price trend in Kerala reflected a downward trajectory at 3.50%. The decline in petrol prices is largely due to the fall in the global crude oil prices as the OPEC decided to increase the output marginally.

    Trend in Petrol Price in Kerala between January 2018 and March 2018

    January February March
    Opening date price Rs.73.77 a litre Rs.76.97 a litre Rs.75.43 a litre
    Closing date price Rs.76.83 a litre Rs.75.37 a litre Rs.77.49 a litre
    Highest price Rs.76.83 a litre booked on 30 Rs.77.31 a litre booked on 6 Rs.77.49 a litre booked on 29
    Lowest price Rs.73.77 a litre booked on 1 Rs.75.36 a litre booked on 5 Rs.75.43 a litre booked on 1
    Trend Increasing Decreasing Increasing
    % Change 3.98% up 2.12% down 2.66% up
    Petrol Price Trend in Kerala

    Trend in Petrol Price in Kerala in January 2018

    • The fuel prices in all parts of Kerala have broken their historical highs, including its capital city at the beginning of the month. HPCL, BPCL and IOC have declared an average fuel price of Rs.73.77 a litre on 01 in tandem with the overseas influencers.
    • Globally, crude oil gained demand and thus, oil-producing countries have slightly accelerated the price of WTI and Brent Crude oil.
    • As a result, the fuel prices have been on a rise steadily during the third week and the fourth week. They have accelerated to Rs.74.9 a litre on 14 and Rs.75.96 a litre on 21. The growth rate was 1.41%.
    • The fuel companies extended to enhance the rates under dynamic fuel pricing during the last week in sync the price influencers.
    • On 22,23,24,25,26,27,28, at IOC, petrol was valued at Rs.76.12 a litre, Rs.76.27 a litre, Rs.76.32 a litre, Rs.76.39 a litre, Rs.76.53 a litre, Rs.76.63 a litre and Rs.76.68 a litre respectively.
    • The fuel climbed to its highest price at Rs.76.83 a litre on 30 and 31. This month the crude oil rate was up in excess of $5 per barrel. However, the fuel has gained its price 3.98%.

    Trend in Petrol Price in Kerala in February 2018

    • Oil exporting countries have experienced a steady growth in the demand for unrefined oil during the first 5-7 days. They have not reduced the price.
    • In the end, the OMCs have begun increasing the RSP of petrol. Thus, the highest rate was offered on 06 at Rs.77.31 a litre.
    • Over the next 15 days, the crude oil’s cost was down almost Rs.1 per barrel. Therefore, fuel prices dropped to Rs.70 per litre on 15.
    • Even though the Union Budget was proposed this month, the whole oil and natural gas industry was left unaffected.
    • The falling trend continued even during the third week. The closing price of the week was Rs.68.98 a litre, which is inclusive of excise duty and VAT.
    • The closing date price was Rs.75.37 a litre and was down 2.12% compared to the opening date price.
    • In this month, no other factors have impacted the fuel rate except the crude oil price of Indian Basket, which declined to $63.54 a barrel.
    • To some extent, a reasonable hike in the USD value has impacted the fall in the fuel price in all cities of Kerala. On 1, the USD/INR was Rs.63.95 and increased to Rs.65.22 on 28. There is a major change that should be accounted for.

    Trend in Petrol Price in Kerala in March 2018

    • The petrol price as on the opening date was up 06 paise to Rs.75.43 a litre. On 2, it reached to Rs.75.62 a litre and was revised at Rs.75.88 a litre on 3.
    • The USD/INR currency conversion ratio depreciated 0.29% on 5, 0.19% on 6 and 0.04% on 7. Unrefined oil gained its price to $62.83 a barrel.
    • Therefore, the OMCs have enhanced the petrol rate on 2, 3,4,5,6 and 7 continually. The fuel was offered at Rs.76.28 a litre at OIC. The same offer even made by HPCL and BPCL at the end of the week 1.
    • On 14, the fuel was retailed at a price of Rs.76.37 a litre, which was up 09 paise compared to the price recorded on 7.
    • The crude oil’s demand was stable until the completion of the month, which registered the unrefined oil price of $63.80 a barrel.
    • The variations in the cost price crude oil should only be accounted for a price upsurge of 2.66% and pushed the petrol price to Rs.77.49 a litre on the second last day.

    Note: Crude oil can be of two categories, which include 1) Brent Crude Oil and 2) WTC Crude Oil. In India, the Central Government takes into account the combined price of these two forms to make the required changes.

    Computation of Petrol Prices in Kerala

    Petrol rates in Kerala are assessed in the following steps:

    Step 1: Calculation of the Crude Oil Price

    Overseas oil-producing companies sell unrefined oil to Indian oil marketing companies (OMCs) at benchmark rates. The present price of a barrel, which is equivalent to 159 litres, of crude oil is $49 in global markets. Therefore, the cost of a litre of crude oil is computed by converting US dollars into Indian rupees and then divided by 159. The cost of crude oil also includes freight charges paid by oil marketing companies.

    Step 2: Calculation of Refinery Expenses

    Upon importing crude oil from overseas oil companies, Indian oil marketing companies will shift crude oil to refineries for further processing. Crude oil is then clustered into several products such as diesel, coal tar, and petrol in distillation towers of these refineries. The cost that is incurred to convert crude oil into petrol is called refinery cost, which is added to the cost of crude oil. Moreover, crude custom levies and charges from ports to refineries are added.

    Step 3: Other Cost Elements

    Clustered petrol is now ready to be stockpiled in the stowage reservoirs of oil marketing companies. The actual rate of petrol, which is paid by end consumers, consists of all the aforementioned costs plus the commission charged by dealers, excise duty, value added tax (VAT), and total duties. In other words, the petrol price is the cost price that consists refining, procuring, marketing, the excise duty, and state taxes.

    Factors affecting Petrol Prices in Kerala

    The following factors affect petrol prices in Kerala:

    • Cost of Crude Oil
    • The cost of crude oil influences the retail selling price of petrol. If it increases, the retail selling price will increase; if it decreases, the retail selling price will decrease. The cost of crude oil is influenced by many factors such as seasonal variations, weather reports, overseas demands and supplies, the capabilities of refineries, and political stability or instability in oil-producing countries.

    • Exchange Rate
    • The exchange rate of the Indian currency to the base currency also has a direct impact on the cost of crude oil. For example, if the INR falls against the USD, the buying cost of crude oil in Indian rupees will rise. Similarly, if the USD falls against the INR, the cost of crude oil in Indian rupees will decrease.

    • Excise Duty and VAT
    • Petrol is taxed by the central and state governments. The cost price of petrol will increase if the percentage of tax imposed by both the governments increase. Similarly, the cost price of petrol will fall when the percentage of tax levied by both the governments decrease. On 4 October 2017, the central excise duty was reduced by Rs.2 by the central government. After the revision, the petrol rate in Kerala was reduced to Rs.72 from Rs.74.

    Impact of GST on Petrol Rates in Kerala

    The Goods and Services Tax (GST) was implemented in India in July 2017. It is the biggest tax reform since independence. Under the regime of GST, all classes of goods and services are taxed primarily under four slabs: 5%, 12%, 18%, and 28%. Petroleum products such as jet fuel, diesel, natural gas, and petrol have not been included in the regime of GST. So, GST does not impact fuel rates in Kerala including petrol and diesel. If GST is levied on petrol even at the highest rate of 28%, the tax outgo will be lesser.

    Also Check Petrol Price in NearBy Cities of Kerala

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    *Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.

    News About Petrol Price In Kerala Today

    • Petrol Prices Decline by 5 Paise per litre on Tuesday

      State-controlled oil companies cut petrol and diesel prices today across major metro cities of the country. Petrol prices were cut by 5 paise per litre while diesel prices were reduced by 7 paise per litre. Currently, oil companies revise petrol and diesel prices daily by considering the 15-day average price of crude oil along with the exchange rate of the rupee over the US dollar. After today price revision, petrol is being sold at Rs.72.41 per litre as against yesterday’s price of Rs.72.46. In Mumbai, Kolkata and Chennai, petrol costs Rs.78.04, Rs.74.49 and Rs.75.29 a litre, respectively. Sinilalry, diesel prices in these cities stand at Rs.67.37, Rs.70.58, Rs.69.16 and Rs.71.20 a litre in Delhi, Mumbai, Kolkata and Chennai. Petrol and diesel prices vary between cities and fuel stations due to the local sales tax and logistics. New rates of petrol and diesel are effective from 6:00 am IST. In the international oil market, crude oil prices inclined amid healthy demand and production cuts led by OPEC. International benchmark Brent crude oil futures were trading at $66.75 per barrel, increasing by 17 cents or 0.3%.

      12 March 2019

    • Crude Oil Prices Likely To Be Traded Higher Today 

      As per experts, the global prices of crude oil is likely to be traded higher on Monday. As a result of the weak trade report of China, the prices of global crude oil have been impacted. However, the prices of the crude oil were backed by the country’s plans to boost its economy. 

       

      In the US, the crude output raised to around 12 million barrels per day. But due to the low demand of the product, the US Crude Inventories had declined marginally. Owing to the weak demands, a high build-up was witnessed in the gasoline inventories.   

      However, due to the supply cuts by OPEC and the other major producers, the concerns about excess output have been reduced. In the late 2018, it was decided by OPEC to reduce the output from January of the current year. 

      21 January 2019

    • Petrol rates have gone up by Rs.2 per litre since January

      Since 1 January, petrol rates have gone up by Rs.1.82 a litre. Petrol is today retailing at a rate of Rs.70.47 a litre in Delhi, Rs.70.34 a litre in Noida, Rs.71.37 a litre in Gurgaon, Rs.76.11 a litre in Mumbai, Rs.72.79 a litre in Bangalore and Rs.73.15 a litre in Chennai.

      Five important aspects to know about petrol rates

      ·         Petrol rates began climbing after 7th of January. Over the last three months, petrol rates have downfallen by 15% and Brent crude by 25%.

      ·         On 4 October, the price of petrol touched the record high of Rs.84 a litre in the national capital, Rs.91.34 a litre in the financial capital.

      ·         Yesterday, crude oil cost closed higher for the second straight day since Saudi Arabia and Russia indicated that they had been in sync with the fabrication cut declared to evade an overseas surplus.

      ·         Oil and natural gas rates shall be lithesome, as per Moody’s Investors Services.

      ·         It is the decreasing Indian rupee, which is influencing diesel and petrol prices to go up. Over the last 4 days, the value of the INR has fallen by 1.6%. Since 1 January, the INR has fallen by 2.06%.

      18 January 2019

    • Government Considering a Hike in Fuel Excise Duty

      Even if there has been a recent drop in the prices of crude oil, it’s unlikely that the Indian Government would reduce the prices of petrol and diesel in the country. That’s because it had already reduced the excise duty on petrol and diesel by Re.1 a litre in the first week of October. Since this move will hurt the fiscal position in a poll year, the government is now considering a hike in the excise duty of petrol and diesel by Re.1- Rs.2 a litre. Also because of the drop of nearly 30% in the prices of crude oil in the last two months, the government has the room for a hike in the excise duty.

      The government is currently imposing a per litre excise duty of Rs.18.48 and Rs.14.33 on petrol and diesel respectively. In Mumbai, the price of petrol at the beginning of this week fell below Rs.80 per litre. That’s chiefly because of two reasons – the drop in crude oil prices and an appreciation in the rupee.

      7 December 2018

    • Petrol Prices Hit the Rs.90 per litre Mark in Pune, Sparks Anxiety Amongst Commuters

      On Monday, the 24th of September, petrol prices in Pune hit Rs.90.10 per litre and has sent shivers to the spine of commuters in the city. Reports suggest that most car and bike owners are considering giving up riding or driving altogether while other are looking to factor in the rising prices into their budget.

      Vimal Solanki, a veteran driver, recalls a time two decades ago when petrol was available for just Rs.18 per litre and he is now bearing the brunt of soaring prices. Others claim that fuel prices were around the Rs.50 mark as little as 8 years ago, however, it has risen significantly over time as government has continued to add duties on fuel and has strongly held onto its position saying it wont cut taxes by any means.

      The government has instead cited the Rs.25,000 crore to Rs.30,000 crore loss it would incur and the impact that could have on the nation’s fiscal deficit. The administration further said that fuel prices are rising mostly due to external factors and not any internal reasons.

      1 October 2018

    • Petrol Prices Continue to Soar

      The prices of petrol continue to witness hike as Oil Marketing Companies (OMCs) once again raised the prices in the country. After the prices of petrol were hiked on Monday, the cost for every litre of petrol was Rs.82.06 in the national capital. In Mumbai, the financial capital of the country commuters had to pay Rs.89.44 for every litre. The constant increase in the last few weeks has seen petrol prices in the country skyrocket and touch new highs. Commuters who are burning a hole in their pockets owing to the high prices have put the hike in the petrol prices on the high taxes imposed on fuel by the government.

      19 September 2018

    • Oil Prices Hold Steady as the US Crude Inventories Fall

      On Friday, the 7th of September, oil prices were seen holding steady after the US crude oil inventories fell to their lowest levels since 2015, thanks to a strong support from the market.

      While oil prices were steady, concerns over the US-Sino trade war still loomed large with the US President Donald Trump readying fresh tariffs on over $200 billion worth of Chinese imports.

      William O’Laughlin, investment analyst from Rivkin Securities, an Australian firm, said that oil inventory data release for the week has shown larger than expected fall in crude inventories which has brought about a stabilization in global crude prices.

      The driving season has been rather lacklustre in terms of gasoline demand, said O’Laughlin, and said that this is one of the reasons for the weakening of the inventories in the US.

      11 September 2018

    • Now, get Preferential Rates on Vehicle, Home Loans, based on Credit Score

      The Bank of Maharashtra has recently announced that preferential interest rates will be offered based on the credit score of the applicant when it comes to vehicle loans and home loans. What this means is that those having a higher credit score will be able to get a loan at a comparatively lesser rate of interest. This will bring down the total cost of the loan for the concerned borrower.

      As of now, those who have a credit score that is above 750, will be able to get a home loan at the rate of 8.85% per annum. On the other hand, a vehicle loan can be obtained at the rate of 9.25% per annum.

      20 August 2018

    • No change in Petrol Prices in all Four Metros

      The petrol prices experienced a hike of 6% on 31 July 2018. Following a sudden rise in the US stockpile of crude oil, global oil prices witnessed a drop on 1 August 2018. Brent crude futures saw a drop of 30 cents. It must be noted that the global oil prices had witnessed a hike of 20% this year.

      The nationwide petrol prices across all the four metros experienced no change, according to the data given by Indian Oil Corporation. The prices of petrol on Wednesday read as Rs.76.31 per litre in Delhi, Rs.79.20 per litre in Kolkata, Rs.83.76 per litre in Mumbai and Rs.79.26 in Chennai.

      6 August 2018

    • Will Petrol be Brought Under GST?

      GST has not been imposed on petrol. The question now is, whether GST shall be imposed on petrol or not? Since the fuel price has soared to an all-time high, the Central Government may consider bringing down the fuel price by reducing excise duty. The government may ask states to bring down VAT, but the actual scenario is different. Both the central and state governments are unwilling to reduce taxes since the revenues accumulated by imposing VAT and excise duty is massive. Recently, the Central Government has spoken about implementing a long-term solution.

      A short-term solution, which was implemented earlier, is transmitting some burden of the enhanced expenses to the Oil and Natural Gas Corporation. Changing petrol and diesel prices from import parity pricing (IPP) to cost plus pricing (CPP). Currently, custom duty, insurance and freight are considered for fixing the retail price in the domestic market. Imposing GST on petrol is the third solution to be considered. If GST is fixed at 28%, the state government’s share of 14% will drastically fall since many states have VAT that is more than 14%.

      28 June 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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