Petrol Price In Madhya Pradesh Today

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

Know how petrol prices in Madhya Pradesh are calculated and how prices compare to other states. Also, find the current Madhya Pradesh petrol price and factors which affect petrol prices in India. Additionally, you can check the highest and lowest petrol prices recorded during a month.

More
  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 81.44
    Current Petrol Price Per Litre
    Compare Petrol Price in Madhya-Pradesh (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 81.44 ₹ 81.44 ₹ 0 ↑
    Petrol Price in Madhya-Pradesh - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 81.44
    20 Oct 2019 ₹ 81.44
    19 Oct 2019 ₹ 81.44
    18 Oct 2019 ₹ 81.44
    17 Oct 2019 ₹ 81.44
    16 Oct 2019 ₹ 81.44
    15 Oct 2019 ₹ 81.44
    14 Oct 2019 ₹ 81.49
    13 Oct 2019 ₹ 81.49
    12 Oct 2019 ₹ 81.49

    Petrol Rate Trend

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    Petrol Price In Madhya Pradesh

    There are multiple factors that affect the petrol price in Madhya Pradesh. Though crude oil is one of the key components when it comes to fuel pricing, this isn’t the only deciding factor. There are a few other aspects as well, which conclude the rates. To help you comprehend the fuel pricing system in India and learn how it affects in a state like Madhya Pradesh, read the article further.

    But before that here is a quick introduction to Madhya Pradesh’s economic and industrial growth.

    Madhya Pradesh is one of the most commonly known Agrarian states in India. Approximately, 74% of its population is entirely dependent on agriculture and farming. However, it is one of the fast-growing Indian states.

    Until 2003, the state was regarded as India’s “sickest economies” during the tenure of Chief Minister – Digvijay Singh. But after the year 2005, the state saw consistent growth and reached to India’s best-performing states in GDP growth.

    In fact, in January 2013, the state was honored with an award from Pranab Mukherjee, the President of India for developing its medical, tourism, infrastructure, and industrial growth. The state is the central part of India and has abundant natural resources, biodiversity, agriculture, fuels, and minerals. Its immense food parks and industry parks help promote sectoral growth.

    Factors That Affect Petrol Price In Madhya Pradesh

    It will not be an exaggeration to state that fuel rates in India affect an Indian resident either indirectly or directly. Since the deregulation, the fuel prices change on a fortnight basis and this involves various factors.

    Although a major population of India keeps track of the prices of commodities like petrol and diesel on a daily basis, a lot are not that aware or familiar about their pricing structure or elements that make up their retail prices. Considering this, here’s exactly what you need to read:

    1. The Price Of The Crude Oil

    Petrol’s RSP (Retail Selling Price) is decided based on various factors. However, an important key component is “crude oil.” It is one of the vital raw materials to extract fuel. Since 75% of the crude oil requirements in India relies upon import, it is refined and transported.

    This, of course, comprises of cost charges, freight charges, and refinery charges. All these together give the price of the crude oil, which is termed as RTP (Refinery Transfer Price). In short, this is the cost that Indian OMCs (Oil Marketing Companies) like HPCL (Hindustan Petroleum Corporation Limited), IOCL (Indian Oil Corporation Limited), and BPCL (Bharat Petroleum Corporation Limited) pay to the refineries that they import from. The Oil Marketing Companies retain some amount of margin before selling it to the dealers.

    2. Taxes

    Though there are various types of taxes involved for fuel, they are broadly classified into two types:

    • State Value Added Tax (VAT)
    • Central Excise Duty – the Central Government imposes this

    The above two tax types are added to the fuel rates that are set for the dealers. However, the VAT varies from one state to the other and keeps revising.

    All these together make up the RSP (Retail Selling Price) of the fuel. However, there may be variations based on the region and the pumps owned by different Oil Marketing Companies. These minor variations in prices are due to the differences in dealer commissions and other profit margins.

    3. Demand

    As a rule of thumb, an increase in demand directly affects a commodity’s price. As far as the Asian continent is considered, and residing in a developing nation like India, fuel demand is always high. However, there are times when this demand gets even higher. Such are the times when the petrol prices also incline.

    Quarterly Petrol Price Trend in Madhya Pradesh Between January and March 2019

    January February March
    Opening date price Rs.71.8/litre Rs.73.94/litre Rs.74.85/litre
    Closing date price Rs.74.18/litre Rs.74.75/litre Rs.75.87/litre
    Highest price Rs.74.37/litre recorded between 22nd and 28th Rs.74.75/litre recorded on 28th Rs.75.92/litre recorded on 24th, 25th, 26th and 27th
    Lowest Price Rs.71.48/litre recorded on 4th, 5th and 6th Rs.73.32/litre recorded on 11th, 12th and 13th Rs.74.85/litre recorded on 1st, 2nd and 3rd
    Trend Upward Upward Upward
    % Change 3.31% 1.09% 1.36%

    Quarterly Petrol Price Trend in Madhya Pradesh Between October and December 2018

    October November December
    Opening date price Rs.89.58 a litre Rs.82.56 a litre Rs.75.64 a litre
    Closing date price Rs.82.74 a litre Rs.75.99 a litre Rs.71.80 a litre
    Highest price Rs.89.83 a litre booked on the 4 October 2018 Rs.82.56 a litre booked on the 1 November 2018 Rs.75.64 a litre booked on the 1 December 2018
    Lowest Price Rs.82.74 a litre booked on the 30 and 31 October 2018 Rs.75.99 a litre booked on the 30 November 2018 Rs.71.80 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -7.64% -7.96% -5.08%

    Petrol Price Trend in Madhya Pradesh Between October and December 2018

    • Under the ‘Dynamic Fuel Pricing’ mechanism, petrol and diesel prices are revised daily which includes the 14-day average price of the global crude oil price as well as the rupee-dollar exchange rate.
    • On 1 October, the petrol price in Madhya Pradesh stood at Rs.89.58 per litre – a record high in the back of the rising crude oil prices in the international market.
    • Petrol rates in Madhya Pradesh continue to move upwards to touch the highest price for the month when a litre of petrol was available at Rs.89.83 per litre on 4 October.
    • The Central government announced a cut in the excise duty of Rs.1.50 per litre and asked oil firms to absorb Rs.1 per litre as subsidy, prompting a decline in fuel prices in the country.
    • Prices dropped to Rs.82.74 per litre, the lowest price of the month, in the back of a fall in oil prices which led to a 7.64% decline in petrol rates in Madhya Pradesh in October.
    • On 1 November, petrol was priced at Rs.82.56 per litre, which was also the lowest price of the month.
    • Over the month, petrol prices dropped significantly due to the decline in geopolitical tensions between the US and China prompting oil prices to drop.
    • By the end of the month, petrol prices dropped to its lowest for the month to touch Rs.75.99 per litre on 30 November.
    • The petrol price trend in Madhya Pradesh in November moved downwards by 7.96% mainly due to the sharp drop in crude oil prices.
    • In December, petrol opened the month at Rs.75.64 per litre, the lowest petrol price recorded in the month.
    • The global crude oil was trading around $56 per barrel, down from $80 per barrel early October which influenced the reduction in petrol prices.
    • On 31 December, petrol recorded its lowest rate for the month when it was sold at Rs.71.80 per litre.
    • Overall, petrol prices in Madhya Pradesh dropped by 5.08% impacted by the sharp decline in crude oil priced as well as the depreciation of the US dollar over the Indian currency.

    Quarterly Petrol Price Trend in Madhya Pradesh between July and September 2018

    July August September
    Opening date price Rs.81.33 a litre Rs.81.97 a litre Rs.84.25 a litre
    Closing date price Rs.82.00 a litre Rs.84.26 a litre Rs.89.37 a litre
    Highest price Rs.82.56 a litre recorded on the 14th Rs.84.26 a litre recorded on the 31st Rs.89.37 a litre recorded on the 30th
    Lowest Price Rs.80.97 a litre recorded on the 5th Rs.81.97 a litre recorded on the 1st Rs.84.25 a litre recorded on the 1st
    Trend Upward Upward Upward
    % Change +0.82% +2.792% +6.085.73%

    Petrol Price Trend in Madhya Pradesh in July 2018

    • Petrol prices in Madhya Pradesh like other states in the country are revised on a daily basis by State-run oil companies based on the dynamic fuel pricing mechanism.
    • The retail selling price of petrol in Madhya Pradesh is fixed by including the global crude oil price and rupee’s exchange rate against the U.S. dollar.
    • In tandem with the daily revision, the petrol price in Madhya Pradesh on the 1st of July stood at Rs.81.33 per litre.
    • However, prices declined in the next couple of days to touch Rs.80.97 per litre - the lowest price recorded during the month on the 5th.
    • With the lowest price registered for the month, petrol prices in Madhya Pradesh moved upwards with an increase of 33 paise on the 6th and continued to incline over the course of first and second weeks.
    • On the 14th, petrol prices in the state rose to touch its highest when a litre of petrol was sold at Rs.82.56 per litre.
    • Prices of petrol fell on the third and fourth weeks but not lower than the opening price of the month. There was an upward trend in petrol prices in Madhya Pradesh during the month inclining by 0.82% influenced by the increase in the global crude oil price.

    Petrol Price in Madhya Pradesh in August 2018

    • On the 1st of August, a litre of petrol was sold at Rs.81.97 in Madhya Pradesh in accordance with the daily revision in prices of fuel in the country, this was also the lowest price during the month.
    • There was no respite to the common man as oil companies continued to increase petrol prices across the country.
    • With the rise in crude oil prices, petrol prices moved upwards during the first and second weeks before dropping slightly on the 15th.
    • The decline was temporary as oil companies hiked petrol prices in Madhya Pradesh and other states in the third and fourth week of August.
    • The increase in oil prices was influenced by geopolitical tensions of a trade war between the U.S. and China coupled with possible sanctions on Iran which led to the rise in oil rates in the global market.
    • By the end of the month, petrol recorded its highest price of Rs.84.26 per litre on the 31st of the month.
    • Overall, the petrol price trend in Madhya Pradesh in August was upward which rose by 2.79% impacted by the increase in oil prices.

    Petrol Price Trend in Madhya Pradesh in September 2018

    • Oil companies cut petrol price on the 1st of September by 1 paise per litre which stood at Rs.84.25 - the lowest price for the month in Madhya Pradesh.
    • The benchmark Brent Crude was trading at a four-year high of $80 per barrel which triggered petrol prices to incline in the state.
    • Petrol prices during the month rose to touch record highs in the month due to a sharp fall in the exchange rate of rupee over the U.S. dollar which fell to 72 - a record low for the Indian currency.
    • Despite the significant increase in petrol prices, the Centre or states didn’t revise or lower taxes levied on the sale of petrol which kept petrol rates on highs.
    • Some states such as Rajasthan, Karnataka, Andhra Pradesh and West Bengal announced a reduction in the local sales tax or VAT charged on petrol which offered some respite to the common man in those states.
    • There was no indication of a decline in the crude oil price which led the petrol price in Madhya Pradesh to touch an all-time high of Rs.89.37 per litre on the 31st of the month.
    • During the month, petrol prices rose by 6.07% attributed to the steep rise in oil prices coupled with the record low of the exchange rate of rupee over the dollar.

    Quarterly Petrol Price Trend in Madhya Pradesh between April and June 2018

    April May June
    Opening date price Rs.79.27 a litre Rs.80.18 a litre Rs.83.96 a litre
    Closing date price Rs.80.18 a litre Rs.84.02 a litre Rs.81.14 a litre
    Highest rate Rs.80.22 a litre registered on 24th Rs.84.02 a litre registered on 31st Rs.83.96 a litre registered on 1st
    Lowest rate Rs.79.27 a litre registered on 1st Rs.80.18 a litre registered on 1st Rs.81.14 a litre registered on 27th, 28th, 29th and 30th
    Trend Upward Upward Downward
    %Deviation +1.14% +4.78% -3.35%

    Petrol Price Trend in Madhya Pradesh in April 2018

    • Petrol prices across all the major cities of Madhya Pradesh have moved upwards during the first week of April 2018. In Bhopal, the capital city of Madhya Pradesh, petrol sold at a price over Rs.79 a litre during the first five days.
    • Every fuel company in the state will follow the system of dynamic fuel pricing to revise the rate of petrol per litre based on two important aspects: the exchange rate and crude oil rates in overseas markets.
    • Any changes in these two parameters are instantly reflected in the price of petrol. This is the reason why petrol rates were increased and decreased by fuel companies throughout the month.
    • Since the crude oil market was sluggish from 25th until 30th, petrol prices in Madhya Pradesh were not changed.
    • According to Petroleum Planning and Analysis Cell, the crude oil price per barrel slightly increased to $69.30. Therefore, petrol prices have increased by 1.14% this month.
    • At Indian Oil, petrol was retailed at the highest rate of Rs.80.22 a litre on 24th. On the other hand, the lowest fuel rate was Rs.79.27 a litre.

    Petrol Price Trend in Madhya Pradesh in May 2018

    • Under dynamic fuel pricing, the price of petrol per litre stood at Rs.80.18 on 1st. Petrol rates were retained unchanged at Rs.80.18 a litre for the first eleven days of the month.
    • On 14th, the fuel was valued at Rs.80.40 per litre. In synch with international crude oil rates, fuel brands such as Indian Oil, Hindustan Petroleum and Bharat Petroleum have begun increasing the rate of petrol across the state.
    • As a result, petrol price in Madhya Pradesh has increased to Rs.82.20 a litre on 21st and Rs.83.94 a litre on 28th. The growth rate for this month stood at 4.78%. It was higher compared to the previous month.
    • For the month, the highest petrol rate was Rs.84.02 a litre and the lowest petrol rate was Rs.79.27 a litre.
    • Only the changes in the crude oil cost and the USD/INR exchange rate have caused an upward trend in the month of June 2018.
    • Put alternatively, domestic influences such as Value-added Tax and excise duty were not considered in order to determine the price of petrol per litre.

    Petrol Price Trend in Madhya Pradesh in June 2018

    • On 1st, petrol price in Madhya Pradesh was Rs.83.96 a litre. During the first week, the prices of petrol have moved downwards caused by a downfall in the price of unrefined oil.
    • The average petrol rate in Madhya Pradesh has gradually decreased over the next three weeks. In the end, petrol rates were reported to be down by 3.35% at IOCL fuel stations, BPCL fuel stations and BPCL fuel stations.
    • Like the first two months of the quarter, excise duty and Value-added Tax were not revised by the Central Government and the State Government of Madhya Pradesh.
    • Therefore, the pricing of petrol was completely free from the central and state taxes. In April, May and June, the INR weakened slightly against the USD.
    • But, the revision of petrol rates in the state of Madhya Pradesh was not impacted by the USD/INR conversion rate.
    • Between April and June, fuel rates were increased by Rs.1.87 per litre in all the prime cities of the state considering the variations in overseas unrefined oil prices.

    Quarterly Petrol Price Trend In Madhya Pradesh Between January 2018 and March 2018

    January February March
    Opening date price Rs.74.82 per litre Rs.78.85 per litre Rs.77.34 per litre
    Closing date price Rs.78.71 per litre Rs.77.28 per litre Rs.79.07 per litre
    Highest price Rs.78.71 per litre registered on 30 and 31 Rs.79.18 per litre booked on 6 Rs.79.07 per litre booked on 31
    Lowest price Rs.74.82 per litre registered on 1 t Rs.77.27 per litre booked on 25 Rs.77.34 per litre booked on 1
    Trend Upward Downward Upward
    % Deviation 4.94% -2.03% 2.19%

    Trend in Petrol Price in Madhya Pradesh in January 2018

    • In Bhopal, the capital city of Madhya Pradesh, petrol was valued at Rs.74.82 per litre in all At BPCL, HPCL and IOCL stations on 01 January 2018. This was also the lowest petrol rate recorded for the month as the prices continually changed under the dynamic fuel pricing.
    • As the value of the U.S dollar kept declining during the first week of the month, petrol prices increased on a day-to-day basis. The dollar value declined by 0.35%, 0.04%, and 0.05% on 2, 3, and 4 of the month due to which petrol prices fluctuated and stood at Rs.74.86, Rs.74.91, and Rs.74.95 on 2, 3, and 4 of the month respectively.
    • By 15 January, petrol prices surged and hit Rs.76.17. The fall in the USD by 0.14% and the increase in crude oil which was sold at $68.02 per barrel lead to the hike in petrol prices.
    • The highest petrol was tracked on 30 and 31 of March when fuel was sold at Rs.78.71 per litre. This was once again due to the dollar index which fell by 0.22%.
    • The overall trend of petrol price inclined by 4.94% for the month of January.

    Trend in Petrol Rate in Madhya Pradesh in February 2018

    • Petrol was valued at Rs.78.85 per litre on 01 February 2018. *
    • Although until the 7 February, the petrol prices were constantly increasing, it started to drop the following days as the USD value increased by 0.29% on 8 February. Petrol prices stood at Rs.79.11 on 5 before settling at Rs.79.18 on the 7 February.
    • During these days, the highest petrol price of Rs.79.18 per litre was recorded on 6 February.
    • Petrol prices further dropped to Rs.77.85 on 18 and Rs.77.3 on 26, and recorded the lowest petrol price of Rs.77.27 per litre on the 25 february.
    • Petrol closed at Rs.77.28 per litre for the month of February marking an overall decline curve of 2.03% in Bhopal, the capital of Madhya Pradesh.

    Trend in Petrol Price in Madhya Pradesh in March 2018

    • In complete sync with the INR/USD exchange rate and the rate of crude oil (Indian Basket), the opening date price of petrol was Rs.77.34 per litre on 01 March 2018. This was also the lowest petrol price recorded for the month of March in Bhopal.
    • The exchange rate of the USD fell during the first few days of the month by 0.04%, 0.29%, 0.19%, and 0.18% on 2, 5, 6, and 9 of the month. This led to a slight increase in petrol prices as the fuel traded at Rs.77.52, Rs.78.1, Rs.78.18, and Rs.78.22 on the same days.
    • On 18 March, petrol rate fell to Rs.77.94. Per litre. Simultaneously, USD value picked up by 0.35% and 0.03% of 19 and 20 March.
    • Petrol prices picked up on 25 March and traded at Rs.78.06.
    • The highest petrol price was recorded on the last day of the month when the fuel traded at Rs.79.07 per litre.
    • An overall upward curve by 2.19% was noticed in the trend of petrol prices for the month of March in Bhopal, Madhya Pradesh.

    Who Controls The Fuel Rates In India?

    No one controls the diesel or petrol prices in India. It all comes down to the market performance. Undoubtedly, the state and central taxes play a key role in the overall demand but it does pressurize the prices. Nevertheless, there is no one controlling it directly.

    However, this wasn’t the case before. Thanks to the recently implemented mechanism called “dynamic fuel pricing system” in India. Earlier, both diesel and petrol prices were controlled via government subsidy. In fact, the fuel subsidies burnt a big hole in the Indian Government’s pocket whenever the crude oil rates went high after the Iraq invasion in 2003.

    To reduce the subsidy bill of GOI (Government of India), petrol prices were deregulated in the year 2010 and diesel rates in the year 2014. Therefore, the prices are determined based on the market trends and the supply-demand chain.

    Overall, the fuel prices in India comprises of the following components:

    • International crude price
    • VAT – Value Added Tax
    • CER – Currency Exchange Rate
    • Excise duty
    • Transportation cost
    • Refinery cost

    Before June 16, 2017, the petrol prices in India were updated on a fortnight basis, meaning that based on the market performance of the previous day, the rates were modified on the first and sixteenth day for each month at 8:00 a.m.

    However, this not only incurred a lot of losses to the oil marketing companies but also the governments could easily influence or affect them. To prevent all the drawbacks and to bring in better transparency in the system, the mechanism of “dynamic fuel pricing” was implemented.

    What Is Dynamic Fuel Pricing?

    The concept of Dynamic Fuel Pricing is something that is not only implemented in India but is also a mechanism that most developed countries follow. As per this system, the fuel prices are updated every morning at 6:00 a.m. based on the international and domestic market performances.

    How Can Customers Know The Present Petrol Price In Madhya Pradesh?

    There are 2 ways to know this information:

    • A petrol buyer can easily download and install a mobile application to learn about the current petrol price based on a location. There are three mobile applications for this, which are SmartDrive, Fuel@IOC, and My HCPCL. These are put up at the app store free of cost by Bharat Petroleum, Indian Oil, and Hindustan Petroleum respectively.
    • Mobile applications might not be ideal for a petrol buyer who does not have a smartphone. However, this doesn’t mean he or she cannot know about the current prices. An SMS can be sent to the respective service numbers of BPCL, HPCL, & IOC to receive the latest prices in Madhya Pradesh or any other region.

    Does GST Affect The Vadodara’s Petrol Prices?

    No, GST does not have any kind of influence in the petrol or diesel prices in India because these commodities have not been brought under its influence yet. Moreover, imposing GST (Goods and Service Tax) on fuel will not only lessen the rates by 27-37% but also the government might not be able to handle such big losses. Someday, if this turns out to be a reality, then the revenue of both State Government and Central Government will be heavily affected.

    Also Check Petrol Price in NearBy Cities of Madhya Pradesh

    *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 Madhya Pradesh

    • Petrol Prices Remain Constant in the Country

      State-run Oil Marketing Companies (OMCs) on Saturday kept the rates of petrol constant across the major cities of the country. In the national capital i.e., New Delhi, every litre of petrol was retailed for Rs.72.90 while in the commercial capital of the country i.e., Mumbai the rates were Rs.78.52 per litre. In the other two metropolitan cities of the country i.e., Kolkata and Chennai the rates charged by OMCs for a litre were Rs.75.12 and Rs.75.70 respectively. In Noida and Gurugram, a litre of petrol was sold for Rs.72.23 and Rs.72.75 respectively. The rates charged for fuel in the country are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is because India imports 80 percent of its total crude oil requirement.

      It needs to be mentioned here that Finance Minister Nirmala Sitharaman in her budget speech had proposed to increase the excise duty on fuel and road and infrastructure cess as crude oil prices had softened from the highs. Talking of crude oil prices, it is noteworthy to mention here that Morgan Stanley had last week cut down the long-term Brent crude prediction to $60 per barrel from $65 per barrel as OPEC and Russia agreed to extend their supply cut than what was expected.

      15 July 2019

    • Rupee Gains 10 Paise Against the US Dollar

      The Indian currency, rupee, on Wednesday rose by 10 paise to end at 69.34 against the US dollar, marking the second straight session of gains driven by easing crude oil prices in the international oil market. At the interbank foreign exchange market, the rupee opened at 69.38 per dollar and moved up to a high of 69.28 during the day. It closed the day at 69.34, inclining by 10 paise compared to its previous settlement. In the last two sessions, the rupee has gained by 31 paise. The rupee is trading higher influenced by the slump in crude oil prices. Market participants are betting a possibility in further interest rate cuts by the Reserve Bank of India (RBI) as they await the May retail inflation data. Retail inflation inclined to 3.05% in May from 2.99% in April. International benchmark, Brent crude oil futures, declined by 2.49% to $60.74 per barrel. Apart from the decline in crude oil prices, forex traders said the rupee gained after the RBI cut interest rate for the third time this year, in an effort to pump liquidity in the market. The Apex bank said on Tuesday that it will infuse Rs.15,000 crore into the financial market through bond purchases on Thursday. Meanwhile, the dollar index which analysis the dollar’s strength against a basket of six currencies was up by 0.07% to 96.75.

      17 June 2019

    • Petrol Prices Hiked a Day after Lok Sabha Elections Comes to an End

      Oil Marketing Companies (OMCs) on Monday hiked the rates of petrol across the metropolitan cities of the country. Following the revision of the prices, the rates were increased by 8 – 10 paise per litre. The hike in the prices comes a day after Lok Sabha elections in the country were wrapped up. In New Delhi, the national capital of the country every litre of petrol was retailed for Rs.71.12. In the commercial capital of the country, consumers had to shell out Rs.76.73 for one litre of petrol. In the other two metropolitan cities of the country i.e., Kolkata and Chennai the rates charged by OMCs were Rs.73.19 and Rs.73.82 respectively.

      The increase in the prices of fuel was attributed to the rise in crude oil prices in the international oil market. It needs to be mentioned here that the prices surged by 1% after Saudi Arabia’s Energy Minister Khalid al-Falih informed that oil producing countries have agreed to continue with limiting supplies. The futures of Brent crude oil shot up by 1.1% or 77 cents since the last close and was trading at Rs.72.98 per barrel.

      21 May 2019

    • Fuel Becomes Costlier Today

      State-run oil companies raised petrol and diesel prices after a gap of two days on Thursday. While petrol prices were hiked by 6 paise per litre, diesel was increased by 5 paise per litre across major metro cities. In the national capital Delhi, petrol costs Rs.70.39 per litre, inclining by 6 paise and diesel prices stand at Rs.65.67 per litre, hiked by 5 paise per litre. In Mumbai, petrol is being retailed at Rs.76.03 per litre as against Rs.75.97 per litre yesterday, while diesel is available at Rs.68.76 per litre as compared to Rs.68.71 per litre recorded on Wednesday. The retail price of petrol in Kolkata were at Rs.72.50 per litre and the retail diesel price were at Rs.67.45 per litre. In Chennai, petrol costs Rs.73.06 per litre and diesel costs Rs.69.37 per litre as per the data available on the Indian Oil website. In Noida, petrol costs Rs.70.30 per litre and diesel costs Rs.64.89 per litre. Fuel prices are proportional to the crude oil price and the rupee-dollar exchange rate. Crude oil prices went higher on Thursday in the international oil market on the back of expectations that the latest US-China tariff talks would improve the global economic outlook. Brent Crude Oil Futures, the international benchmark for crude oil, were trading in the last session at $63.98 per barrel, rising by 1.9% over its last settlement.

      19 February 2019

    • Petrol and diesel prices in India today

      Petrol and diesel prices in India today

      Diesel and petrol prices continued to show a growing trend on Thursday after a marginal fall in the rates of petrol and diesel. Today’s petrol price is up 0.14 paise per litre at Rs.70.47 whereas diesel price is up 0.19 paise per litre to Rs.64.78 in Delhi. Petrol price is up 20 paise per litre at Rs.76.11 a litre whereas diesel price is up 20 paise per litre to Rs.67.82 a litre in Mumbai. Petrol rates on Wednesday witnessed a drop on Wednesday after six days and were at Rs.70.33 a litre while diesel rate in Delhi stood at Rs.64.59 a litre. After the fall, the price of petrol stood at Rs.75.97 a litre in Mumbai.

      18 January 2019

    • Petrol cars to cost less than diesel cars in 2020

      With new BS VI emission norms to be enforced from April 2020, petrol powered cars would cost less than diesel powered cars. As per Maruti Suzuki, the country’s largest passenger carmaker, BS VI diesel cars would cost around Rs.2.5 lakh more than the petrol counterparts. It needs to be mentioned here that as of now the difference between BS VI petrol and diesel cars ranges between Rs.80,000 to Rs.1.5 lakh.

      As per industry experts, the difference would go up towards Rs.2.5 lakh by 2020 due to the fact that more pieces of equipment would be required to be installed in a diesel engine to make sure that they meet the newer, stricter emission norms.

      It is noteworthy to mention here that while India is moving towards BS VI emission norms (Euro 6) in 2020, Europe is planning to move towards Euro 6D or Euro 6.2. As per those norms, manufacturers in Europe would stop investing in diesel technology.

      26 December 2018

    • Further Reduction in Fuel Prices

      The rates of petrol and diesel continued to fall on Friday. In Delhi, the price of per litre of petrol got reduced by 15 paise and diesel too underwent the same price cut. The new rates of petrol and diesel in Delhi are Rs.78.06 and Rs.72.74 per litre respectively.

      For Mumbai, the revised prices of per litre of petrol and diesel are Rs 83.57 (after a drop of 15 paise) and Rs 76.22 (after a drop of 16 paise) respectively.

      After a long period of sharp rise, fuel rates have continued to decline since 18th October. To curb the skyrocketing price, the government of India had reduced the per litre excise duty on diesel and petrol by Rs.1.50. It had also urged the state-owned fuel retailers to reduce their margins by Re.1 a litre and pass on the benefit to the customers.

      13 November 2018

    • Why Cannot India Slash Excise Duty?

      Fuel prices continued to rise despite the recent Bharat Bandh. Petrol has touched a price mark of Rs.90 per litre yesterday in the city of Mumbai and is close to Rs.83 a lire in the city of Delhi. So far, the government has not responded to the demand of the Congressmen to diminish excise duty. The Central Government has no scope to reduce central taxes in a situation where the Indian rupee is falling versus the greenback, the USD. However, the sales taxes have been cut marginally in West Bengal, Karnataka, Rajasthan and Andhra Pradesh. Reducing taxes on petrol will lead to a fiscal deficit that will hit the funding capabilities of the country. Fuel consumers have no other option and should wait until the government cuts excise duty.

      On Monday, 24 September 2018, commodity merchants Trafigura and Mercuria, said that crude oil prices are expected to reach a price range of $100 per barrel by the end of the present year or by early 2019. Daniel Jaeggi, who is the president of commodity merchant Mercuria Energy Trading, said that approximately 2 million barrels a day (BPD) of petroleum can go out of the market because of the sanctions of the United States of America against Iran by the completion of the 4th quarter this calendar year.

      1 October 2018

    • Fuel Prices Surge to Record Levels, Hits Rs.81 per litre in the Capital

      Fuel prices have been rising consistently over the last two plus weeks with the highest ever ceiling already broken. As per reports on the 13th, fuel prices have reached a few rupees more than the previously see higher limits.

      In Delhi, petrol prices went up to Rs.81 per litre - an all-time high in Delhi, while diesel was seen selling at Rs.73.08 per litre. In Mumbai, petrol was selling at Rs.88.39 per litre while diesel was being sold at Rs.73.08 per litre. Chennai too witnessed price increase with petrol selling at Rs.84.19 per litre, while diesel was being sold at Rs.77.25 per litre.

      In Kolkata, petrol and diesel prices were Rs.82.98 per litre and Rs.75.03 per litre respectively. Maharashtra’s Parbhani district recorded the highest ever fuel rate in the country, at Rs.90.11 per litre. As per OMCs, petrol price gate price is Rs.40.45 per litre for while that of diesel is Rs.44.28 per litre, and the rest of the costs are brought about through VAT and dealer commission and other such factors.

      17 September 2018

    • Petrol and Diesel Prices Increased Again

      After a day’s hiatus, state-owned oil companies increased petrol and diesel prices on Thursday in the country. In Delhi, petrol costs Rs.79.51 per litre, while diesel price stands at Rs.71.55 a litre - also a record high. In Mumbai, petrol price is the highest as it stands at Rs.86.91 per litre and diesel is priced at Rs.75.96 a litre. While in Kolkata, petrol is available at Rs.82.41 per litre and diesel costs Rs.74.40 a litre. Similarly, petrol was hiked in Chennai with the fuel available at Rs.82.60 per litre, while diesel costs Rs.75.61 a litre. Fuel prices in Delhi are cheapest among all four metro cities and some state capitals due to lower local sales tax or VAT. Oil companies revise petrol and diesel prices on a daily basis under the dynamic fuel pricing mechanism which is based on the international crude oil price and the exchange rate of the US dollar over rupee.

      11 September 2018

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

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.