Petrol Price In Pondicherry Today

  • Today's Petrol Price ( 19 Apr 2019 )
    ₹ 72.11
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    Petrol ( / litre) ₹ 72.11 ₹ 72.11 ₹ 0 ↑
    Petrol Price in Pondicherry - Last 10 Days Data
    Date Petrol ( / litre)
    19 Apr 2019 ₹ 72.11
    18 Apr 2019 ₹ 72.11
    17 Apr 2019 ₹ 72.11
    16 Apr 2019 ₹ 72.11
    15 Apr 2019 ₹ 72.16
    14 Apr 2019 ₹ 72.04
    13 Apr 2019 ₹ 72.04
    12 Apr 2019 ₹ 72.04
    11 Apr 2019 ₹ 71.99
    10 Apr 2019 ₹ 71.99

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    Petrol Price In Pondicherry

    Ever since the mechanism of “dynamic fuel pricing” has been implemented in India, the petrol price in Pondicherry, as well as every region in the country, has seen a lot of fluctuations. Though there are various factors affecting them, a key component is reported to be “crude oil.” For better understanding, here is a detailed article that not only explains the factors affecting the fuel rates but also gives a better insight into the latest pricing mechanism.

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

    Also Know: Diesel Price In Pondicherry

    Pondicherry (officially named as Puducherry), is India’s Union Territory. This city was formed from 4 exclaves of earlier French India, which are:

    • Pondicherry
    • Karikal
    • Mahe
    • Yanaon

    However, it was named after the biggest district – Puducherry. It lies in the southern region of the Indian Penninsula, which are bordered by the states – Kerala and Andhra Pradesh. With a GDP (Gross Domestic Product) of Rs.0.21 lakh, it is reported to be not only the densely populated but also the twenty-ninth most populated union territories and states of India.

    The economy of Pondicherry majorly depends on agriculture, which includes crops like sugarcane, cotton, coconuts, pulses, and rice. Since it is situated on the coastline, fishing is also another great source of livelihood.

    Talking about the industrial sector, on the other hand, Pondicherry features about 5,500+ small-scale industries and 23 big scale industries. Combined, both these industries offer employment to over 50,000 individuals. The significant industries are:

    • Textiles
    • Chemicals
    • Food processing
    • Light engineering
    • Metals

    Besides all these, Pondicherry is well admired for its coastal location, sightseeing, cuisine, resorts, and the French past. All these have made this place a tourist attraction. In the year 2006, it attracted over 3 lakh tourists from around the world. This has also paved the way for various investment opportunities. In fact, the Government of India also supports different types of investments by increasing the subsidies in Pondicherry.

    Factors Affecting Petrol Price In Pondicherry

    Even though there are multiple factors that affect the price of petrol in Pondicherry, here are the significant ones that have a huge impact:

    1. Cost Of Crude Oil

    The international crude oil price is one of the key components in making up the retail price of both petrol and fuel. Now, the price of crude oil is determined by the global demand as well as the supply. Whenever there is an incline in the global demand, the production is low, or there is a geopolitical intervention in the oil-manufacturing countries, it leaves an impact on the price of the petroleum products as well.

    2. Rise In Demand

    Developing nations like China and India tend to have a high demand for fuel most of the time than other countries. Generally, when there is an increased demand for a commodity, the price of it increases immediately.

    3. Imbalance In The Demand And Supply Cycle

    The transportation cost of fuel in India is usually volatile when compared to other commodities. In India, the means of transportation is entirely dependent on fuel. Therefore, if there is a sudden decline in the petroleum supply, consequently, multiple issues come over. This usually includes lagging imports, refinery problems, shortage in the fuel inventories, etc. When fuel stocks run low, most oil marketers and wholesalers tend to bid much high for the available supplies. This, in turn, increases the price of petrol too.

    If the fuel transportation cannot meet the supply flow from one geographical location to the other, fuel rates stay comparatively high. However, these price variations are normal and are something that is experienced in most commodity markets.

    4. Seasonal Demands

    There is a huge difference between a normal demand and a seasonal demand. Even though the demand for petrol in India is consistent and reflects the economy, there are times when there is an unexpected demand, which is usually seasonal. This happens during summers – when it is vacation time in the entire country and that’s exactly when people tend to travel the most. As a result, this increases the demand for fuel too. Again, demand increases the price in the retail market.

    5. Tax

    The retail price of petrol and other petroleum-based products depend majorly on “tax” that is imposed by the local governments. This varies from state to state. Therefore, each time the Indian Government sets a new tax, the OMCs (Oil Marketing Companies) have no other option than to hike the fuel rates but of course, they keep their marginal profits aside.

    What Pricing Mechanism Does Pondicherry Follows?

    Currently, not only Pondicherry but every region in India follows the mechanism of “dynamic fuel pricing.” It was implemented on June 16, 2017, after seeing the drawbacks of the existing system. Earlier, the fuel rates were updates on the first and sixteenth day at 8:00 a.m. of each month based on the previous day’s international crude oil prices and currency exchange rate. Hence, it was called the “fortnight pricing system.”

    However, the Oil Marketing Companies incurred heavy losses at times and even the governments could easily influence or affect the prices. In short, there was no transparency in the system. To overcome all these, dynamic pricing, a method that most developed nations follow till date, was implemented.

    According to this system, the prices are updated every morning at 6:00 a.m. IST (Indian Standard Time) based on the current international crude oil trends and other vital factors.

    Does GST Have Any Influence On The Fuel Rates?

    No, GST (Goods and Service Tax) doesn’t have any influence on the fuel rates in Pondicherry because this scheme hasn’t yet been implemented for a commodity like fuel. This is a big decision and will take a good amount of time for the Indian Government to take a step ahead. Even if this is implemented, the revenue of both state and central governments will be certainly affected. That’s a key reason why this might not come into effect that soon.

    Other Important FAQS About Fuel

    1. What constitutes the retail price of fuel?

    Every petrol station features various types of cost, which include:

    • Cost of the commodity
    • Marginal cost
    • Operating cost
    • Tax set by the central government
    • Tax set by the state government

    2. Who controls the petrol pump price in India?

    The Government of India deregulated the fuel prices on Jun 2010 & Oct 2014 respectively. Therefore, the pricing decision varies from one oil marketing company to the other. Also, this decision is based on multiple factors like:

    • Product cost
    • Distribution cost
    • Rent
    • The cost to run the petrol pump
    • Employee salaries
    • Utilities

    3. Why have the fuel rates inclined in the recent years?

    When compared to the previous years, the cost of the refined product and the crude oil have increased. These two factors are key components of the fuel rates to increase too. Other than these, increased oil demand, shortage in the refining capacity, and seasonal demand are few other factors that add to the retail price of fuel.

    4. Why does fuel rates differ from one country to the other?

    The fuel prices vary from one country to the other due to the following reasons:

    • Currency fluctuations
    • Subsidies offered by the government on fuel
    • Taxes set by the government on fuel
    • The cost to buy the finished product
    • Transportation cost

    5. Does the United States exchange rate affect the fuel price?

    The majority of the crude oil is traded in USD (United States Dollars) and that’s why any slight difference between the U.S. dollar and a country’s currency can leave a big impact too.

    Also Check Petrol Price in NearBy Cities of Pondicherry

    *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 Pondicherry

    • OMCs keep petrol prices unchanged on Monday

      Oil Marketing Companies (OMCs) on Monday kept the prices of petrol unchanged in the country. Every litre of petrol was retailed for Rs.72.71 in the national capital. In the financial capital of the country i.e., Mumbai consumers had to pay Rs.78.33 for purchasing one litre of petrol. In the other two metropolitan cities of the country i.e., Kolkata and Chennai, the rates charged by OMCs for a litre of petrol were Rs.74.79 and Rs.75.52 respectively. In non-metro cities like Noida and Gurugram, consumers had to shell out Rs.72.12 and Rs.72.66 per litre.  

      On the international front, crude prices fell on Monday. The fall in the prices was accounted to concerns that fuel consumption would be negatively impacted due to the economic slump. Brent crude oil was trading at 67.01 dollars per barrel after coming down by 55 cents.  

      It needs to be mentioned here that the rate charged for a litre of petrol in the national capital is the lowest among all metro cities and most state capitals. This is because the tax charged on petrol is low as compared to what is charged in other metros and state capitals. 

      19 March 2019

    • No Revision in Fuel Prices Today

      Petrol and diesel prices were kept unchanged today after they were cut for six the consecutive days. Prices have been on the decline in the back of the softening of crude oil prices in the market coupled with depreciation of the rupee over the U.S. dollar. Yesterday, petrol and diesel prices were down by up to 15 paise per litre across all four major metro cities in the country. In Delhi, petrol was being sold at Rs.76.38 per litre and diesel at Rs.71.27 per litre, as per the data available on the Indian Oil Corporation Ltd. (IOCL) website. Likewise, in Mumbai, petrol was being dispensed at Rs.81.90 per litre and diesel at Rs.74.66. Petrol prices have declined by nearly Rs.3 per litre and diesel by about Rs.2 per litre. In Chennai, petrol costs Rs.79.31 per litre, while diesel is available at Rs.75.31. In Kolkata, petrol costs Rs.78.33 per litre and diesel at Rs.75.31. Early October, crude oil prices touched a four-year high of $80 per barrel which has declined to trade at $66 per barrel, currently.

      27 November 2018

    • Every litre of Petrol Costs Rs.83.85 in Delhi

      Even though petrol prices were kept unchanged by Oil Marketing Companies (OMCs) in the country on Wednesday, the rates of every litre were Rs.83.85 in Delhi. In the financial capital of the country i.e., Mumbai, the price charged for one litre of petrol was Rs.91.20. The rates charged in both the metro cities of the country stood at all-time highs. In the other two metro cities of the country i.e., Chennai and Kolkata, the rates were Rs.87.18 and Rs.85.65 respectively. It needs to be mentioned here that fuel prices in the country are revised on a daily basis since June 2017 with oil companies adopting the dynamic fuel pricing scheme.

      Various factors have led to the unprecedented rise in petrol prices in the last few weeks. While surging global crude oil prices and fall of the rupee against the US dollar has played its part, high excise duty rates charged by the government has made things worse. It is noteworthy to mention here that global crude oil prices were nearing a new four-year high earlier in the week while rupee registered a new all-time low of Rs.73.34 against the US dollar on Wednesday.

      12 October 2018

    • Fuel Prices Continue to Rise, About to Hit Rs.90 per litre in Mumbai; Other Cities Also Nearing

      On Tuesday, fuel prices rose again, after considerable increase over the previous new sessions with further unprecedented inclines expected. In Delhi, petrol was priced at Rs.82.16 per litre after the latest round of increases. In Mumbai, though, it was a whole different story, with prices almost hitting the Rs.90 per litre - just Rs.0.46 short, actually, as the day concluded on Tuesday.

      It traded at Rs.89.54 per litre in Mumbai, while the same remained at Rs.83.91 per litre in Kolkata and at Rs.85.31 per litre in Kolkata.

      WIth the rising prices, people are increasing pressure on the government and are expecting some sort of intervention to curb the prices from going further up. Further, the government has come across a lot of criticism for the lack of action from their part. However, the government has still maintained that the price hikes are all due to external factors and it has little to nothing in their control. While saying so, the NDA government pointed to the rise in crude prices and a falling rupee for the constant rise.

      20 September 2018

    • Diesel Price Increased to Rs.74.57 a litre in the City of Patna

      The price of diesel per litre reached the highest rate over Rs.74.57 in Patna on Monday, 20 August 2018. Diesel price litre was cheaper than petrol price per litre by Rs.9.13 on Tuesday, 21 August 2018. The decreasing gap between diesel rates and petrol rates was accredited to the fact that diesel prices exhibited an upward trend over the last few days, while petrol rates exhibited both upward and downward trends over the last few days.

      Prabhat Kumar Sinha, who is the president of Bihar Petroleum Dealers Association, said “Throughout the month of June 2018, diesel prices dropped and remained in the range of Rs.72 correspondingly. During the first week of July diesel prices once again produced an increasing trend. He further said that when we compare the present prices with the latest fuel prices in May 2018, diesel rates increased by 52 paise per litre across the state of Bihar.

      D M Diwakar, who is currently working as a professor at A N Sinha Institute of Social Studies, said that over the last two weeks, crude oil rates diminished by $7 per barrel. On Tuesday, crude oil price per barrel was $72.77 as against $80 per barrel 15 days ago.

      23 August 2018

    • Karnataka Transport Corporation Proposes to Increase the Bus Fare

      Chief Minister, H D Kumaraswamy, proposed to increase fuel rates fifteen days ago. Now, Bangalore Metropolitan Transport Corporation (BMTC) has decided to increase the bus fare. Addressing the reporters on Wednesday, D C Thammanna, the Transport Minister, revealed that the proposal of reducing bus fare has been submitted to the government. He further said that the decision whether to increase or decrease the bus fare will finally be taken by the government. It was decided to increase the bus fare since the three wings – North Western Karnataka Board, North Eastern Karnataka Road and Bangalore Metropolitan Transport Corporation (KSRTC) – are not making profits.

      As on the 5th July 2018, petrol price per litre increased by Rs.1.14 per litre whereas diesel price per litre increased by Rs.1.12. Siddaramaiah, the former Chief Minister of Karnataka, advised the present Chief Minister, H D Kumaraswamy, to withdraw the decision of increasing fuel rates. It was finally decided by H D Kumarswamy to hike the prices of diesel and petrol by 2%.

      26 July 2018

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