Petrol Price In Thanjavur Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 76.84
    Current Petrol Price Per Litre
    Compare Petrol Price in Thanjavur (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.84 ₹ 76.84 ₹ 0 ↑
    Petrol Price in Thanjavur - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 76.84
    20 Oct 2019 ₹ 76.84
    19 Oct 2019 ₹ 76.84
    18 Oct 2019 ₹ 76.85
    17 Oct 2019 ₹ 76.85
    16 Oct 2019 ₹ 76.85
    15 Oct 2019 ₹ 76.85
    14 Oct 2019 ₹ 76.9
    13 Oct 2019 ₹ 76.9
    12 Oct 2019 ₹ 76.9

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    Petrol Price in Thanjavur

    Thanjavur or Tanjore is a city in Tamil Nadu and boasts of a fertile land that is also famous for its art, culture and architecture. Located in the Cauvery Delta, the city has become important for its agricultural cultivation. Apart from agriculture, the tourism industry contributes to the economy of Thanjavur.

    Petrol in the city is offered by state-owned oil companies such as the Indian Oil, Bharat Petroleum, and Hindustan Petroleum. These oil companies operate more than 90% of fuel stations in Thanjavur. Petrol prices are dynamic in nature and are influenced by several important factors which are external and internal in characteristics.

    Petrol prices in Thanjavur and in across other cities are revised on a daily basis. With the prices changing every day, which either increases or decreases, it’s essential we understand what components in the petrol price affect the change. Let’s review each of these factors and how they impact the fuel price in Thanjavur.

    Factors Affecting Petrol Prices in Thanjavur

    As mentioned, the factors are external and internal in nature. While global crude oil prices and the exchange rate of the US dollar are external, internal factors include taxes, profit margins, operational costs, and dealer commision.

    • Global Crude Oil Prices: Oil-Marketing Companies (OMCs) purchase nearly 80% of petrol in crude form, making it one of the biggest commodity imported by India. This makes petrol an expensive product to purchase. The global crude oil price is volatile and is influenced by several factors such as production cuts, shortage in supply, high demand and geopolitical tensions. Any changes in these factors lead to the revision in the crude oil price and inversely on the petrol price.
    • US Dollar Exchange Rate: The other factor which determines the petrol price is the US dollar exchange rate. Since trading of crude oil happens in dollars, any fluctuation i.e. increase or decrease in rate influences the power to purchase crude oil in the international market. This, in turn, affects the petrol price in Thanjavur.
    • Tax on Petrol in Thanjavur: Petrol in Thanjavur includes taxes levied by the Centre and the State. While the Centre charges excise duty of Rs.19.48 per litre, Tamil Nadu implies Value Added Tax (VAT) at 32.06%. If and when the tax rate is revised, the petrol price in Thanjavur rises or falls. Taxes on fuel is the biggest component apart from the global crude oil price.
    • Operational Costs & Dealer Commision: Oil companies purchase crude oil from the global market, refine, transport it from oil-producing countries and finally transport petrol to dealers or petrol pump owners across the country. For these services, the petrol price includes profit margins of OMCs, other operational costs and commission to the dealer.

    Why are Petrol Prices Revised Daily?

    Petrol prices in India or Thanjavur are revised on a daily basis. The previous day’s crude oil price and the US dollar exchange rate is considered before petrol is sold in the Retail Selling Price (RSP). This method is called the ‘dynamic fuel pricing’ mechanism, hence, any changes in the global crude oil price are passed on to the end consumer.

    Until 16 June 2017, petrol prices were revised every fortnight by including the average of crude oil prices for the last fortnight and the exchange rate of the US dollar. However, oil companies had to wait a fortnight before any reduction or increase in crude oil price can be passed on to the customer. With the new pricing mechanism, petrol prices are dynamic in nature and are revised daily in Thanjavur.

    Calculation of the Petrol Price in Thanjavur

    Now that we understand why petrol prices are revised on a daily basis, let us break down the petrol price in Thanjavur on 3 June 2018.

    Sl.No. Component Price
    1 Global Crude Oil Price + Freight Charges $78.30 per barrel = Rs.32.98/Litre (considering $1=66.96 and 1 barrel oil = 159 litres)
    2 Profit margin of Oil Companies, transportation, refining, and operational costs Rs.5.32/Ltr
    3 Central Excise Duty + Road Cess Rs.19.48/Ltr
    4 Dealer Commission Rs.3.63/Ltr
    5 Value Added Tax (VAT) Rs.19.68/Ltr
    Total Retail selling price of petrol in Thanjavur Rs.81.09/Ltr

    How to get the Latest Petrol Price in Thanjavur?

    With petrol prices changing every day, it might be a challenge to know the current petrol price in a city. However, oil companies have developed innovative methods to track the petrol price in Thanjavur and in cities across the country.

    • Mobile Apps: Oil companies have launched smartphone mobile apps to track the current petrol price in a city such as Thanjavur. While India’s largest oil retailer Indian Oil has launched the ‘Fuel@IOC’ app, Bharat Petroleum has the ‘SmartDrive’ app, while Hindustan Petroleum has launched ‘MY HPCL’ app to track the petrol price of a city.
    • SMS Service: OMCs offer services through SMS as well. The below process will help you get the current petrol price.
      • Indian Oil: SMS RSP Dealer Code to 9224992249.
      • Hindustan Petroleum: SMS HPPRICE Dealer code to 9222201122.
      • Bharat Petroleum: SMS RSP Dealer code to 9223112222.
    • Online Information: Consumers can visit the respective OMCs website where fuel prices are updated on a daily basis.

    Petrol Vs. Diesel Price in Thanjavur

    In India, petrol prices are higher compared to diesel prices. Diesel is utilised extensively by public transportation system and commercial vehicles which aid the economy of the city. Additionally, taxes on petrol are higher over diesel taxes. While the excise duty on petrol is Rs.19.48 per litre, diesel attracts Rs.15.33 per litre. The VAT levied by Tamil Nadu on petrol is 32.06% and diesel is charged at 24%, making diesel cheaper than petrol.

    Why is GST not Applicable on Petrol in Thanjavur?

    The new taxation regime of Goods and Service Tax (GST) is applicable on all trading of commodities and services; however, petroleum products have been exempted from the GST. Since the current taxes - excise duty and local sales tax or VAT - are higher compared to the highest tax slab of the GST, which is 28%, the government’s revenue earnings will take a hit. By removing the exemption of petrol from the GST, the retail selling price of petrol will significantly reduce.

    Also Check Petrol Price in NearBy Cities of Thanjavur

    *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 Thanjavur

    • State-run Oil Companies Hike Petrol and Diesel Prices Today

      State-run oil firms hiked petrol and diesel prices today across major metro cities of the country after keeping them unchanged for two days. Petrol prices have increased by 6 paise per litre and diesel rates have gone up by 8 to 9 paise per litre. After the revision, in Delhi, petrol costs Rs.72.86 per litre, up by 6 paise as compared to yesterday’s price of Rs.72.80. Diesel in Delhi costs Rs.66.19 per litre, up by 8 paise per litre. In the financial capital of Mumbai, petrol is available at Rs.78.43 per litre, up by 6 paise per litre over yesterday’s rate. Diesel in Mumbai costs Rs.69.27 per litre, inclining by 8 paise. In Kolkata, petrol is available at Rs.74.88 per litre and diesel costs Rs.67.85 per litre, up by 6 and 8 paise per litre, respectively. In Chennai, petrol costs Rs.75.62 per litre while diesel is being sold at Rs.69.89 a litre, increasing by 6 and 9 paise per litre, respectively. Similarly, in other metro cities such as Noida and Gurugram, petrol is being sold at Rs.72.20 and Rs.72.74 per litre while diesel is being sold at Rs.65.30 and Rs.65.40 per litre, respectively. Petrol and diesel rates in Noida and Gurugram went up by 5 and 7 paise per litre, respectively.

      Petrol and diesel prices are proportional to the global crude oil prices. On Friday, crude oil prices in the international market remained steady amid supply cuts led by OPEC and US sanctions on Venezuela and Iran. Brent crude oil futures, the international benchmark, were trading at $71.01 per barrel, inclining by 0.3% or 18 cents compared to its previous settlement.

      15 April 2019

    • Petrol and Diesel Rates Rise for the Second Straight Day

      State-owned Oil Marketing Companies (OMCs) hiked the retail prices of petrol and diesel for the second straight day on Friday. After the hike, petrol prices increased by 7-8 paise per litre and diesel prices by 6-7 paise per litre across major metro cities. In the national capital Delhi, petrol was being retailed at Rs.70.46 per litre, while diesel was being sold at Rs.65.73 per litre. Fuel prices in Delhi are the cheapest among major metro cities due to its lower taxes on the sale of petrol and diesel. Petrol is being sold at Rs.72.57 per litre and diesel at Rs.67.51 per litre in Kolkata.

      Meanwhile, the people of Mumbai will need to pay Rs.76.10 per litre for petrol and Rs.68.83 per litre for diesel. In Chennai, petrol costs Rs.76.14 per litre and diesel costs Rs.69.44 per litre. In Noida and Gurugram, petrol is available at Rs.70.35 per litre and Rs.71.31 per litre, respectively. Diesel is priced at Rs.64.94 per litre and Rs.65.47 per litre, respectively. Retail prices of petrol and diesel are dependent on the international crude oil price coupled with the rupee-dollar exchange rate. In the oil market, crude oil prices inclined amid US sanctions on Iran and Venezuela as well as the output cut by OPEC. Brent Crude oil futures went above $65 per barrel in the last session, growing by 0.5%.

      21 February 2019

    • Minister says low fuel consumption played spoilsport in the plan to mobilise additional money

      According to Thomas Issac, Kerala’s minister of Finance low consumption of fuel foiled the plan of mobilising additional funds by keeping the rates of petrol and diesel high in the state. It needs to be mentioned here that Kerala’s tax revenue did not grow during the time of unprecedented fuel price rise i.e., between the months of April and October 2018. This came despite the fact that the state government had rejected the central government’s appeal to effect a matching cut in state taxes of Rs.2.50 per litre on petrol and diesel. The state government imposes a tax of 30.08 per cent on petrol and 22.76 per cent on diesel. 

      It is noteworthy to mention here that the tax collected in Kerala for the first six months of the current fiscal is Rs.3,175.69 crore. The amount collected in the first half of the fiscal year is about Rs.350 crore less than the half-yearly collection recorded in the previous fiscal.  

      The reason for the low consumption of fuel in the state was accounted to the fact that the turnout of heavy-duty vehicles was low and inter-state vehicles preferring to refill their vehicles from the border states. The rates of petrol and diesel in the states bordering Kerala were cheaper in the range of Rs.0.30 to Rs.0.50 per litre.

      30 January 2019

    • Domestic Fuel Prices May Increase Again as Saudi Arabia Decides to cut the Production of Crude Oil

      It has been announced by Saudi Arabia, which is one of the biggest producers of crude oil in the entire world, that it will reduce the quantum of the production of crude oil. This move will have a big impact on the pricing of diesel and petrol in the Indian domestic market. Fuel prices are envisioned to increase further ahead of the forthcoming Lok Sabha elections in India.

      Khalid Al Falih, who is the Energy Minister of Saudi Arabia, speaking at a conference said, “The extraction of petroleum will fall by 500,000 barrels a day in the month of December. Other members of the OPEC may also decline the crude oil extraction forthcoming year if required. We have to balance the market. The meeting of the oil ministers of the non-OPEC and OPEC members will held in Vienna in the month of December and the decision of reducing the crude oil production shall be taken there.”

      “The minister further said, “The oil-producing countries have to imply the necessary changes to assure that the market is balanced.”

      15 November 2018

    • Petrol Prices Cut, Diesel Kept Unchanged

      State-run oil companies cut petrol prices in Delhi, while diesel priced were kept unchanged today. In Mumbai, petrol prices were cut and diesel prices were kept unchanged as well. With the revision of petrol prices, a litre of petrol in Delhi costs Rs.81.25, while in Mumbai it's being sold at Rs.86.73 per litre. Diesel continues to be sold at Rs.74.85 per litre in Delhi and Rs.78.46 in Mumbai. Fuel prices have been hiked relentlessly in the last two months in the back of high crude oil price and the steep decline of the rupee. On 4 October 2018, the Union government announced a cut in excise duty of Rs.1.50 per litre and asked oil companies to subsidise further Rs.1, which offered some respite to the common man, following the announcement, several stated declared cut in local sales tax or VAT on the sale of fuel in the state. Petrol and diesel prices in Delhi and other cities in the country are revised on a daily basis based on the dynamic fuel pricing mechanism. The new rates are effective from 6:00 am IST.

      24 October 2018

    • Mechanics to Blame for Plunging Mileage

      The continually growing fuel prices have troubled the people from all parts of the country, two-wheeler mechanics have been caught in a strange circumstance in the city of Madurai. A few two-wheeler mechanics have been blamed for reducing mileage. Some two-wheeler owners have got their two-wheelers serviced recently and they think that the mileage of their bikes has fallen because of the fault of mechanics. As per mechanics, two-wheeler owners compute the mileage of their bikes based on the amount of they have paid to fuel their bikes. Ideally, the mileage should be computed based on the quantity of fuel.

      P K Ponraj, who is a mechanic from Kalavasal, said “Mechanics cannot be blamed for a drop in the mileage. The fact is that is the petrol price has increased by Rs.11 per litre since the month of January 2018. When the price of a litre of petrol goes up, the quantity of the fuel comes down and therefore, mileage will in the end. Not all two-wheeler owners blame mechanics.

      11 September 2018

    • We Appeal for Fair Fuel Rates in the OPEC Conference

      Union Minister, Dharmendra Pradhan, on Wednesday said “We appeal to the OPEC nations for a fair fuel rate. India is one of the largest crude oil borrowers and we always expect a reasonable fuel price from the OPEC countries. This OPEC seminar is very important seminar for us and we raise our concern again.”

      He further said “In Vienna, OPEC countries are meeting in Vienna and India is also joining the meeting. Fuel rates have seen an upward trend because of a weaker of dollar, the increased price of crude oil costs and the less production of crude oil.”

      According to official releases from the Organisation of the Petroleum Exporting Countries (OPEC), the seventh OPEC International Seminar shall be hosted by the OPEC on 20-21 June in Vienna under a theme called ‘Petroleum Co-operation for a Supportable Future.

      28 June 2018

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