Petrol Price In Tamil Nadu Today

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

Get to learn how petrol prices in Tamil Nadu are computed and how prices are compared to other states. Also, find the current Tamil Nadu petrol price and factors influencing petrol prices in India. Additionally, you can check the highest and lowest petrol prices recorded during a month.

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  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 76.15
    Current Petrol Price Per Litre
    Compare Petrol Price in Tamil Nadu (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.15 ₹ 76.15 ₹ 0 ↑
    Petrol Price in Tamil Nadu - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 76.15
    20 Oct 2019 ₹ 76.15
    19 Oct 2019 ₹ 76.15
    18 Oct 2019 ₹ 76.16
    17 Oct 2019 ₹ 76.16
    16 Oct 2019 ₹ 76.16
    15 Oct 2019 ₹ 76.16
    14 Oct 2019 ₹ 76.21
    13 Oct 2019 ₹ 76.21
    12 Oct 2019 ₹ 76.21

    Petrol Rate Trend

    • 7 Days
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    • 3 Months
    • 6 Months

    Petrol Prices in Tamil Nadu

    Are you a petrol consumer from Tamil Nadu? If yes, what is the consumption pattern? How does the frequently changing petrol price affect your budget? Who are the petrol dealers in Tamil Nadu? Why does the petrol rate differ from one dealer to another? What is the trend in petrol rates in the entire state of Tamil Nadu? Let’s discuss these points in detail. Indian Oil, Hindustan Petroleum and Bharat Petroleum are the three premier oil marketing companies operating throughout the state. These companies account for at least 95% of petrol bunks.

    How are Petrol Prices in Tamil Nadu Revised?

    All petrol dealers across the state will use dynamic fuel pricing method to revise petrol rates. Dynamic fuel pricing is a newly introduced fuel pricing method that determines the price of petrol based on the exchange rate and overseas crude oil prices. The United States of America and Australia are also following the same fuel pricing method. In India, dynamic fuel pricing was implemented on 16 June 2017.

    Dynamic Fuel Pricing is also called the daily revision. It is a streamlined version of the earlier fuel pricing method. The deployment of the daily revision method ensures transparency in fuel pricing. Petrol dealers will no longer face difficulties in stock management. Under the new method, petrol consumers can be aligned to market dynamics.

    Like stock markets, petrol rates will change on a daily basis with the daily revision in place. The revision is done at 06:00 a.m. every day. Non-automated bunks in the state will manually update the petrol rate whereas automated bunks will do it automatically. All oil marketing companies have designed unique mobile applications, which can be downloaded to track the latest price.

    Trends in Petrol Prices in Tamil Nadu

    In Chennai, petrol prices were up by 2.01% in September 2017. The growth rate increased to 5.51% in August 2017. On the opening day of July, the cost of petrol per litre was Rs.65.46 in the city. On the closing day of the month, the rate increased to Rs.67.78. The highest petrol rate in September 2017 was Rs.73.25. In August 2017, it was Rs.71.66.

    Coimbatore is another major city in Tamil Nadu. The average price of petrol per litre reduced to Rs.71.20 from Rs.73.23 between the first week and the last week of October 2017. It can be attributed to the recent reduction in the central excise duty on petrol. In Madurai, the third largest city in Tamil Nadu, petrol was sold at an average price of Rs.71.50 per litre in October 2017.

    How are Petrol Prices in Tamil Nadu Computed?

    Retail selling price of petrol = cost price of crude oil + OMC costs + price charged to dealers + fuel costs before VAT

    Cost of crude oil is the price paid by oil marketing companies to purchase crude oil from transnational oil marketing companies. The cost of crude oil is divided by 159 to compute the cost of crude oil per litre. 1 barrel of crude oil is equivalent to 159 litres. Freight expenses are also included in the cost of crude oil. If the cost of crude oil is $50 and the value of the INR against the USD is Rs.62, then the cost of crude oil will be Rs.3,100.

    The costs incurred by oil marketing companies (OMCs) include refinery processing, operational expenses, transportation expenses, freight charges, entry taxes and freight expenses. The price charged to dealers includes the central excise duty imposed on petrol by the central government. The price charged to end consumers includes the cost of crude oil, the expenses incurred by oil marketing companies, the price charged to dealers, pollution cess and the state VAT. As on 4 October 2017, the state VAT imposed on petrol in Tamil Nadu was 25%.

    Quarterly Petrol Price Trend in Tamil Nadu between January and March 2019

    January February March
    Opening date price Rs.71.38/litre Rs.73.59/litre Rs.74.54/litre
    Closing date price Rs.73.84/litre Rs.74.43/litre Rs.75.59/litre
    Highest price Rs.74.03/litre recorded between 22nd and 28th Rs.74.43/litre recorded on 28th Rs.75.65/litre recorded on 24th, 25th, 26th and 27th
    Lowest price Rs.71.05/litre recorded on 4th, 5th and 6th Rs.72.94/litre recorded on 11th, 12th and 13th Rs.74.54/litre recorded on 1st, 2nd and 3rd
    Trend Upward Upward Upward
    % Change 3.34% 1.14% 1.40%

    Quarterly Petrol Price Trend in Tamil Nadu Between October and December 2018

    October November December
    Opening date price Rs.87.13 a litre Rs.82.51 a litre Rs.75.34 a litre
    Closing date price Rs.82.70 a litre Rs.75.71 a litre Rs.71.38 a litre
    Highest price Rs.87.39 a litre booked on the 4 October 2018 Rs.82.51 a litre booked on the 1 November 2018 Rs.75.34 a litre booked on the 1 December 2018
    Lowest Price Rs.82.70 a litre booked on the 30 and 31 October 2018 Rs.75.71 a litre booked on the 30 November 2018 Rs.71.38 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -5.09% -8.24% -5.26%

    Petrol Price Trend in Tamil Nadu Between October and December 2018

    • State-run Oil Marketing Companies (OMCs) revise petrol and diesel prices daily based on the ‘Dynamic Fuel Pricing’ mechanism which includes the 14-day average of crude oil prices and the exchange rate of the rupee over the US dollar.
    • Based on this mechanism, the petrol price in Tamil Nadu on 1 October stood at Rs.87.13 per litre and rose to a monthly high of Rs.87.39 per litre on 4 October.
    • The record high price of petrol and diesel was on the back of rising crude oil prices in the international market and the sharp fall in the Indian currency’s value.
    • On 4 October, the Centre announced the reduction in excise duty of Rs.1.50 per litre and asked OMCs to further subsidise Rs.1 per litre to ease the customer’s burden.
    • By the end of the month, prices were down to Rs.82.70 per litre, marking a 5.09% decline in petrol prices in Tamil Nadu mainly due to the fall in oil prices and the cut in excise duty.
    • On 1 November, petrol prices in Tamil Nadu stood at Rs.82.51 per litre, which was also the highest price recorded in the month.
    • During the month, petrol rates in Tamil Nadu continued to decline in the back of a reduction in crude oil prices and a slight incline in the rupee’s value.
    • On 30 November, petrol registered its lowest price of the month at Rs.75.71 per litre attributed by the fall in oil prices.
    • Overall, the petrol price trend in Tamil Nadu in November fell by 8.24% influenced by the steep decline in oil prices in the global market coupled with the appreciation of the rupee over the US dollar.
    • Petrol opened at Rs.75.34 per litre on 1 December in keeping with the daily revision of petrol prices in the country. This was also the highest price recorded in the month.
    • Rates continued to drop during the month as the global crude prices started to ease as geopolitical tensions between the US and China declined.
    • The crude oil prices dropped to $56 per barrel from $80 per barrel early October which influenced the decline in petrol prices in the country.
    • By the end of the month, prices were down to Rs.71.38 per – the lowest for the month – to record a decline of 5.26% mainly due to the significant drop in oil prices and the depreciation of the US dollar.

    Quarterly Petrol Price Trend in Tamil Nadu Between July and September 2018

    July August September
    Opening date price Rs.78.40 a litre Rs.79.26 a litre Rs.81.81 a litre
    Closing date price Rs.79.31 a litre Rs.81.63 a litre Rs.86.80 a litre
    Highest price Rs.79.93 a litre recorded on the 14th Rs.81.63 a litre recorded on the 31st Rs.86.80 a litre recorded on the 30th
    Lowest Price Rs.78.40 a litre recorded on the 1st Rs.79.26 a litre recorded on the 1st Rs.81.81 a litre recorded on the 1st
    Trend Upward Upward Upward
    % Change +1.15% +2.90% +5.75%

    Petrol Price Trend in Tamil Nadu in July 2018

    • Petrol and diesel rates are revised by State-run oil marketing companies daily based on the dynamic fuel pricing mechanism.
    • Based on the daily revision of fuel price, the petrol price in Chennai - the state capital of Tamil Nadu - on the 1st of July stood at Rs.78.40 per litre.
    • Oil companies kept the petrol price in Tamil Nadu unchanged until the 5th of the month only to increase it on the 6th when a litre of petrol in Tamil Nadu sold at Rs.78.57, up by 17 paise.
    • From the 6th onwards, prices of petrol inclined to touch the highest price of Rs.79.93 per litre on the 14th of the month.
    • Prices declined over the course of third and fourth weeks; however, it didn’t breach the opening price of the month.
    • On the 31st, a litre of petrol in Tamil Nadu was available at Rs.79.31 influenced by the slight rise in the global crude oil prices.
    • For the month, petrol prices inclined by 1.15% attributed to the increase in oil prices in the global market.

    Petrol Price in Tamil Nadu in August 2018

    • Oil companies base the retail selling price of petrol on the global crude oil price and the exchange rate of rupee over the U.S. dollar, making them the most important factor while pricing fuel in the country.
    • The petrol price in Tamil Nadu on the 1st of August stood at Rs.79.26 per litre, down by 5 paise compared to the previous day’s cost, this is also the lowest price for the month.
    • The price of petrol in the State continued to rise in the first and second week to touch Rs.80.23 per litre on the 11th before it was cut by 9 paise to retail at Rs.80.14 per litre on the 13th.
    • However, it hikes were back with petrol prices in Tamil Nadu during the month of August continued to move upwards.
    • Despite rising petrol prices, taxes levied on the sale of fuel by states or the Centre were kept untouched offering to respite to consumers.
    • By the end of the month, the petrol price in the state had grown to touch Rs.81.63 per litre on the 31st.
    • Overall, the petrol price trend in Tamil Nadu in August moved upwards by 2.90% influenced by the significant rise in global crude oil prices.

    Petrol Price Trend in Tamil Nadu in September 2018

    • A litre of petrol was being sold at Rs.81.81 in Tamil Nadu on the 1st of September, up by 18 paise as against the previous day’s price.
    • With a possibility of lower oil output from Iran coupled with the trade war between the U.S. and China led the global crude oil prices to soar.
    • Oil companies continued to hike petrol prices in Tamil Nadu and other states in tandem with the incline in oil prices in the international market.
    • By mid-September, the global crude oil price was touching a four-year high of $80 per barrel prompted oil companies to hike petrol prices across the country.
    • Along with the rising oil prices, the rupee fell to its record low of 72 over the U.S. dollar which led fuel prices across the country to increase considerably.
    • On the 31st of the month, the highest petrol price was recorded for the month when a litre of petrol in Tamil Nadu stood at Rs.86.80.
    • The trend in petrol price during the month was upwards which inclined by 5.75% primarily impacted by the two main factors of the rise in oil price and the significant fall in the exchange rate of the Indian currency.

    Quarterly Petrol Price Trend in Tamil Nadu Between April and June 2018

    April May June
    Opening date price Rs.76.48 per litre Rs.77.43 per litre Rs.81.32 per litre
    Closing date price Rs.77.43 per litre Rs.81.39 per litre Rs.78.40 per litre
    Highest price Rs.77.47 per litre recorded on 24th Rs.81.47 per litre recorded on 29th Rs.81.32 per litre recorded on 1st
    Lowest price Rs.76.48 per litre recorded on 1st Rs.77.43 per litre recorded from 1st to 11th Rs.78.40 per litre recorded from 27th to 30th
    Trend Upward Upward Downward
    %Change +1.24% +5.12% -3.59%

    Petrol Price Trend in Tamil Nadu in April 2018

    • On the 1st of the month, petrol was retailed at Rs.76.48 per litre in Chennai, the capital of Tamil Nadu. Incidentally, this is also the lowest petrol price in the month in the State.
    • Petrol prices remained steady with slight variations during the first week. The marginal rise or fall in the petrol price is attributed to the fluctuations in the global crude oil rate.
    • The revision in petrol prices was not influenced by domestic factors such as the excise duty or Value Added Tax (VAT) as both the Centre or the State didn’t revise the taxes on the fuel.
    • The highest petrol price in Tamil Nadu in April 2018 stood at Rs.77.47 per litre on the 24th.
    • The petrol price trend in Tamil Nadu during the month was in an upward trajectory of 1.24% largely due to the slight revisions in the crude oil price.

    Petrol Price Trend in Tamil Nadu in May 2018

    • The opening date price of petrol stood at Rs.77.43 per litre in Tamil Nadu for the month. This price remained same till the 11th due to the 2018 Karnataka Assembly Elections was scheduled to be held on the 11th.
    • The petrol price of Rs.77.43 per litre is also the lowest price recorded for the month.
    • With the elections concluded, State-owned oil companies began revising fuel prices under the ‘Dynamic Fuel Pricing’ methodology.
    • While petrol prices during the second and third week rose marginally, the cost of petrol during the last week inclined significantly due to the rising crude oil prices in the global market.
    • Petrol prices reached an all-time high of Rs.81.47 per litre on the 29th as the global crude oil price touched $80 per barrel.
    • Overall, petrol prices in Tamil Nadu and other states were considerably higher due to the high cost of crude oil.

    Petrol Price Trend in Tamil Nadu in June 2018

    • On the first day, the petrol price in Tamil Nadu stood at Rs.81.32 per litre. Despite touching an all-time high in May 2018, prices began declining but not significantly. This price is also the lowest petrol price in Tamil Nadu in June 2018.
    • By the end of the second week, petrol prices were down by nearly Rs.2 in the backdrop of the fall in the global crude oil rate.
    • The Organisation of Petroleum Exporting Countries (OPEC) decided to meet on the 22nd to discuss strategies to counter the rising crude oil rates in the international market.
    • The OPEC agreed to increase the production of crude oil to arrest the incline in petrol prices across the globe.
    • With the OPEC agreeing to increase output, crude oil rates started to decline which led to the fall in petrol prices across the country.
    • The lowest petrol price in Tamil Nadu for the month of June 2018 stood at Rs.78.40 per litre which remained the same till the end of the month.
    • The petrol price trend in Tamil Nadu in June 2018 reflected a downward trajectory of 3.59% attributed to the fall in crude oil prices as the OPEC and its key ally Russia decided to increase the output.

    Quarterly Petrol Price Trend In Tamil Nadu Between January 2018 And March 2018

    January February March
    Opening date price Rs.72.53 per litre Rs.75.75 per litre Rs.74.26 per litre
    Closing date price Rs.75.63 per litre Rs.74.13 per litre Rs.76.29 per litre
    Highest price Rs.75.63 per litre recorded on 31 Rs.76.09 per litre recorded on 6 Rs.76.29 per litre recorded on 31
    Lowest price Rs.72.53 per litre recorded on 1, 2, 3 & 4 Rs.74.13 per litre recorded on 27 & 28 Rs.74.26 per litre recorded on 1
    Trend Upward Downward Upward
    %Change +4.10% -2.18% +2.73%
    Petrol Price Trend in Tamil Nadu

    Trend in petrol price in Tamil Nadu in January 2018

    • Petrol price in Chennai stood at Rs.72.53 per litre, which is also the lowest price of petrol in January 2018. The price of petrol in Coimbatore stood at Rs.72.95 per litre, while other main cities of Tamil Nadu witnessed similar trend in petrol prices, including Madurai and Tiruchirapalli.
    • In January 2018, petrol prices in Tamil Nadu witnessed an upward trend with the lowest petrol price recorded at the beginning of the month and gradually increasing towards the end of the month.
    • Due to a considerable increase in the Indian Crude Oil Basket price, state-owned oil companies declared a hike of 1.73% in petrol prices in major cities in the first 15 days of January 2018.
    • While petrol prices remained steady in the first week of the month, by mid-January 2018, prices of petrol increased due to the decline in the value of USD against INR, as it fell from Rs.63.704 to Rs.63.624, a reduction of 0.13%.
    • During the next 15 days, petrol prices continued to increase with the highest petrol price in January 2018 recorded at Rs.75.63 per litre on the last day of the month.
    • Prices of petrol in January witnessed a 4.10% increase in Tamil Nadu owing to a hike in international crude oil prices by Rs.5.

    Trend in petrol price in Tamil Nadu in February 2018

    • Petrol prices in Tamil Nadu in February 2018 continued to increase in the first 15 days of the month recording the highest petrol price of Rs.76.09 per litre on February 6, 2018. Petrol price in Chennai on the opening date stood at Rs.75.75 per litre.
    • Despite the Union Budget, which was presented on February 1, 2018, the state-owned oil companies neither increased nor decreased the petrol price.
    • Beginning February 11, petrol prices in Tamil Nadu decreased by nearly a rupee owing to gain in USD/INR conversion rate.
    • Petrol prices in Tamil Nadu continued to spiral downwards from 21 and dropped further over the end of the month with the lowest petrol price recorded on 27 at Rs.74.13 per litre.
    • Prices of petrol in Tamil Nadu in February 2018 recorded a 2.18% downward trend. Overall, February petrol prices in Tamil Nadu was a mixed bag influenced by inconsistent international crude oil prices. Also, domestic influencers such as Value Added Tax (VAT) and the excise duty remained unchanged.

    Trend in Petrol Prices In Tamil Nadu In March 2018

    • Petrol price in Tamil Nadu averaged Rs.75.17 per litre in March 2018 with the lowest price recorded at Rs.74.26 per litre on 1.
    • Fuel prices increased from March 5 to 16 owing to a slight decline in the USD/INR conversion rate.
    • In the following days, petrol prices continued to increase in the backdrop of declining value of the USD. Prices of petrol were recorded at Rs.75.61, Rs.75.85, Rs.76.10 and Rs.76.29 on 28, 29, 30 and 31, respectively.
    • While the lowest price of petrol in Tamil Nadu stood at Rs.74.26 per litre in March 2018, the highest price was recorded at Rs.76.29 per litre on 31.
    • Overall, petrol price in Tamil Nadu in March 2018 witnessed an upward trend of 2.73%.

    Factors Impacting Petrol Prices in Tamil Nadu

    The Retail Selling Price of Petrol Increases if:

    • The value of the INR falls against the USD.
    • The cost of crude oil goes up.
    • The central excise duty on petrol increases.
    • The state VAT increases.

    The Retail Selling Price of Petrol Decreases if:

    • The state VAT decreases.
    • The central excise duty decreases.
    • The value of the USD falls against the INR.
    • The cost of crude oil decreases.

    The Reserve Bank of India, the central bank, defines the value of the USD against the INR. The exchange rate is influenced by inflations, interest rates, public debt, political stability, terms of trade and economic performance. As discussed in the earlier section, the retail selling price (RSP) of petrol replicates the fluctuations in the exchange rate.

    How does GST Impact Petrol Prices in Tamil Nadu?

    The Goods and Services Tax (GST) is a consolidated indirect tax platform. It was introduced in India in July 2017. Since petrol has not been covered under the GST regime, petrol prices remain unaffected by GST. Currently, all types of goods and services are taxed under four slabs: 5%, 12%, 18% and 28%.

    If GST is imposed on petrol at 12%, the cost of petrol in Tamil Nadu will be less than Rs.40. If petrol is taxed at 18% under the GST regime, then the petrol cost will be less than Rs.42. If petrol is taxed at 28% (the highest rate), then the petrol rate in Tamil Nadu will be less than Rs.45 per litre.

    Also Check Petrol Price in NearBy Cities of Tamil Nadu

    *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.

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    News About Petrol Price In Tamil Nadu

    • Petrol and Diesel Prices Remain Static Today

      State-owned oil companies kept petrol and diesel prices static today across major metro cities of the country. Yesterday, oil firms had hiked petrol prices by 6 to 7 paise while diesel rates were increased by 5 to 6 paise per litre. In Delhi, fuel prices are lower due to lower taxes compared to other metro cities and some state capitals. In Delhi, petrol costs Rs.73.07 per litre and diesel costs Rs.66.66 a litre. In Mumbai, petrol is being sold at Rs.78.64 a litre and diesel at Rs.69.77 per litre. In Kolkata and Chennai, a litre of petrol costs Rs.75.08 and Rs.75.84 and diesel costs Rs.68.39 and Rs.70.39 per litre, respectively. In Noida and Gurugram, petrol is available at Rs.72.37 and Rs.72.89 per litre while diesel is being dispensed at Rs.65.71 and Rs.65.79 per litre, respectively. Fuel prices in India are dependent on the global crude oil prices and the exchange rate of the Indian currency over the US dollar. Since the start of the year, Brent crude oil futures has risen by 33% and in April it has increased by 5.25%. Yesterday, in the global oil market, international benchmark Brent crude oil futures was down by 19 cents or 0.3% at $70.56 per barrel compared to its previous settlement.

      6 May 2019

    • Petrol Prices Remain Unchanged across Major Cities

      State-run Oil Marketing Companies (OMCs) on Friday kept the rates of petrol unchanged across all the major cities of the country. In the national capital, every litre of petrol was retailed for Rs.73.02. In the other metropolitan cities of the country like Mumbai, Kolkata, and Chennai, consumers were required to shell out Rs.78.59, Rs.75.04, and Rs.75.79 respectively for a litre of petrol. In non-metro cities like Noida and Gurugram, OMCs charged Rs.72.32 and Rs.72.86 per litre respectively.

      The rates charged for a litre of petrol in Delhi is the cheapest among all the metro cities and state capitals due the fact that the taxes charged are lower than what it is charged in other cities. In the international oil market, oil prices dipped on Friday on the hope that OPEC will soon raise output to make up for the loss in exports from Iran. Brent crude oil was trading at $74.16 per barrel after coming down by 19 cents or 0.3% since its last close. It is noteworthy to mention here that the rates of fuel in the country are dependent on international oil prices and the rupee-US dollar exchange rate. This is because India imports 80% of the total crude requirements.

      29 April 2019

    • Petrol Prices Hiked While Diesel Prices Lowered

      State-controlled Oil Marketing Companies (OMCs) hiked petrol rates by 7-8 paise per litre while diesel rates were lowered by 10-11 paise a litre across major metro cities of the country. After the revision, petrol is being sold at Rs.72.55 a litre as against Thursday’s price of Rs.72.48 a litre while diesel is being sold at Rs.67.22 a litre, a 10 paise increase compared to yesterday’s price, according to the website of Indian Oil Corporation. In Kolkata, petrol is available at Rs.74.63 a litre and diesel is being sold at Rs.69.01 a litre. On Thursday, petrol in Kolkata was sold at Rs.74.56 a litre and diesel at Rs.69.11 a litre. In the financial capital of Mumbai, petrol prices rose by 10 paise per litre to Rs.78.17 and diesel became cheaper by 10 paise to Rs.70.42 a litre. Similarly, in Chennai, petrol costs Rs.75.35 per litre, declining by 11 paise per litre and diesel costs Rs.71.04 a litre, lower by 11 paise compared to yesterday’s price. Fuel prices are proportational to the international crude oil prices in the oil market. On Friday, crude oil prices remained stable as output cuts by OPEC and US sanctions against Iran and Venezuela is likely to create a slight shortfall in global supply in the first quarter of 2019. International benchmark Brent crude oil futures were trading at $67.15 per barrel, dropping 8 cents from previous close.

      Petrol and diesel rates have been on the rise in February, increasing by more than Rs.2 per litre amid production cuts by OPEC and the trade war between the US and China which has slowed down the global economic growth.

      15 March 2019

    • Petrol and Diesel Prices Hiked Marginally on Friday

      State-owned oil companies hiked petrol and diesel prices marginally on Friday, the second consecutive day of increase in prices. After today’s revision, the petrol price in Delhi stood at Rs.70.46 per litre, while the diesel price stood at Rs.65.73 per litre, increasing by 13 paise and 11 paise per litre, respectively, in two days. So far this year, petrol prices in Delhi and Mumbai have been hiked by a total of Rs.1.62 per litre and Rs.1.63 per litre, respectively. Diesel prices have increased by a total of Rs.2.87 per litre and Rs.3.07 per litre, respectively. Similarly, petrol prices in Kolkata have inclined by Rs.1.61 per litre and diesel inclined by Rs.2.90 per litre. Likewise, petrol prices in Chennai have increased by Rs.1.73 per litre and diesel by Rs.3.09 per litre. As per the current pricing mechanism, fuel prices are revised daily under the ‘Dynamic Fuel Pricing’ mechanism which considers the 15-day average price of crude oil in the international market and the rupee-dollar exchange rate.

      19 February 2019

    • India looks for investments of $300B in the energy sector in the next decade

      India is looking for partners who would invest around USD300 billion in its energy sector in the next decade. This sector includes refineries, liquefied natural gas (LNG) facilities, and natural gas infrastructure and trade. This is the country’s attempt to cut down the high volume of carbon emission. It is also rolling out a number of LNG terminals, city gas distribution networks, and long gas pipelines.

      As per reports, India will overtake China as the largest energy market by the late 2020s. It has been estimated that there would be a growth of 4.2% every year in its energy consumption by 2040. The country is also the site for the largest green oil refinery and petrochemical complex in Asia. The complex is being built in Maharashtra and at an expense of close to USD40 billion.

      As its domestic oil and gas production goes down, India has proposed a revenue-sharing model for foreign investors and is opening its entire sedimentary basin to them through open acreage licensing. For operators working with advanced technology to enhance oil and gas recovery, the country is also offering fiscal incentives.

      11 December 2018

    • Petrol and Diesel Rates Decrease Further for 5th Straight Day

      State-owned Oil Marketing Companies (OMCs) have reduced petrol and diesel prices further for the 5th straight day across major metro cities in the country. After the revision, the petrol price in Delhi costs Rs.77.56 per litre, while diesel is being retailed at Rs.72.31 per litre. Petrol and diesel prices are the lowest in Delhi among four major metro cities in the country due to lower local sales tax or VAT. In Mumbai, petrol now costs Rs.83.07 per litre and diesel is being sold at Rs.75.76 a litre. The price of petrol and diesel have been on the decline as the global crude oil prices are on a declining trend. The U.S. recently softened its stand on its sanctions on Iran and given approval to eight countries to import oil from Iran temporarily. The list of countries includes India, Japan, South Korea, China, Italy, Turkey, the United Arab Emirates and Taiwan. Fuel prices are revised by oil companies on a daily basis under the dynamic fuel pricing mechanism wherein the global crude oil price and the exchange rate of the Indian currency over the U.S.

      13 November 2018

    • Fuel Prices at a Continuous rise, here's How Much They Cost Now

      National Capital Region of Delhi witnessed a rise in the prices of petrol and diesel again by 60 paise per litre and 19 paise per litre respectively. On 14th of October, price of petrol was recorded at an increased price of Rs.82.72 per litre and diesel was sold at Rs.75.38 per litre.

      Even after the Government had announced a Rs.2.50 per litre cut on the 4th of October, and several states had followed it, prices of petrol and diesel in Mumbai have increased drastically and is currently being sold at Rs.88.18 per litre and Rs.79.02 per litre respectively.

      Due to the current trend of rise in fuel prices, the common people are the most affected as travelling by private vehicles which was once economical has started to look like a luxury. The Government has put the onus on the international market for the constant rises in crude oil and is being constantly attacked by the opposition for poor and late implementation of price cut.

      Since India is the third largest consumer of crude oil in the world, the Indian rupee has been at a low due to the increase in oil prices.

      16 October 2018

    • Petrol Prices Go Past the Mark of Rs.91 per litre in Mumbai

      As oil prices continued to increase in the country, the rates for one litre of petrol in the financial capital of the country i.e., Mumbai breached the Rs.91 mark. As of Monday, consumers had to shell out Rs.91.08 for buying a litre of petrol in the metro city. The price witnessed a hike of Rs.0.22 as compared to Sunday. In the other metro cities of the country, i.e., Delhi, Chennai and, Kolkata the cost of one-litre petrol was Rs.83.73, Rs.87.05, and Rs.85.53 respectively. While in cities like Bengaluru, and Lucknow, the rates charged by Oil Marketing Companies (OMCs) were Rs.84.40 and Rs.83.73.

      It needs to be mentioned that as petroleum products are excluded from the GST regime, the prices of petroleum products in the country vary due to the different VAT rates charged by the respective states. While Delhi has the cheapest fuel rates due to lower taxes, Mumbai has the highest prices as the VAT charged by the state government is the highest in the country. It is noteworthy to mention that the steep rise in the prices of petrol has been accounted to surging crude oil prices and the fall of rupee against US dollar.

      3 October 2018

    • Oil Companies Hike Fuel Prices Again

      State-run Oil Marketing Companies (OMCs) have hiked fuel prices again on Sunday. The petrol and diesel price touched an all-time high in Sunday in Mumbai, which pays the highest among four major metro cities in the country. In the financial capital of India, petrol costs Rs.89.29 a litre, while in Delhi its costs Rs.81.91 per litre. In Kolkata, petrol is available at Rs.83.76 a litre, while in Chennai, it costs Rs.85.15 per litre. Likewise, diesel prices were increased as well with the fuel available at Rs.73.72 in Delhi, at Rs.78.26 in Mumbai, at Rs.75.57 in Kolkata and at Rs.77.94 a litre in Chennai. The petrol price has breached Rs.90 mark in Maharashtra Parbhani district which costs Rs.91.40, while a litre of diesel is being sold at Rs.79.09, the highest in India. While petrol rates have gone up by 6%, diesel rates have inclined by 8% in the last one month. Fuel prices in the country are revised on a daily basis since mid-June 2017, ending the 15-year practice of changing prices on the first and the 16th of every month.

      19 September 2018

    • Why are Diesel and Petrol Rates Increasing Even Though the Economy is Recouping

      India extracts crude oil heavily. Increasing petroleum rates have a bearing on the currency of India that touched a record low earlier this week. India has defined the amount of the reduction in the import of crude oil. Diesel and petrol rates have increased abruptly over the last two weeks. On Tuesday, the price of petrol increased for the 10th day. As of Tuesday, the price of a litre of petrol was Rs.79.31 in Delhi, the capital city of India, and Rs.86.72 in Mumbai, the capital city of Maharashtra.

      International crude oil rates are on the uptick in the recent weeks due to a supply deficit in Venezuela. Over the last two weeks, petroleum prices increased by $7 per barrel. Petroleum rates were steady earlier this calendar year. On Wednesday, the Indian rupee registered a low of Rs.71 against the currency of the United State of America. Since the starting of the present calendar year, the value of the Indian currency has dropped by 10%.

      11 September 2018

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