Quarterly Petrol Price Trend in Kolkata Between January and March 2019
|Opening date price||Rs.70.92/litre||Rs.72.99/litre||Rs.73.88/litre|
|Closing date price||Rs.73.22/litre||Rs.73.77/litre||Rs.74.86/litre|
|Highest price||Rs.73.40/litre recorded between 22nd and 28th||Rs.73.77/litre recorded on 28th||Rs.74.91/litre recorded on 24th, 25th, 26th and 27th|
|Lowest Price||Rs.70.62/litre recorded on 4th, 5th and 6th||Rs.72.39/litre booked on 11th, 12th and 13th||Rs.73.88/litre recorded on 1st, 2nd and 3rd|
Quarterly Petrol Price Trend in Kolkata Between October and December 2018
|Opening date price||Rs.85.61 a litre||Rs.81.30 a litre||Rs.74.62 a litre|
|Closing date price||Rs.81.48 a litre||Rs.74.97 a litre||Rs.70.92 a litre|
|Highest price||Rs.85.85 a litre booked on the 4 October 2018||Rs.81.30 a litre booked on the 1 November 2018||Rs.74.62 a litre booked on the 1 December 2018|
|Lowest Price||Rs.81.48 a litre booked on the 30 and 31 October 2018||Rs.74.97 a litre booked on the 30 November 2018||Rs.70.92 a litre booked on the 31 December 2018|
Petrol Price Trend in Kolkata between October and December 2018
- Prices of petrol and diesel are calculated based on the Dynamic Fuel Pricing mechanism and revised daily.
- Based on the methodology, the petrol price in Kolkata on 1 October stood at Rs.85.61 per litre, influenced by the high crude oil price in the global market.
- Petrol prices continued to surge with the highest rate recorded at Rs.85.85 per litre on 4 October amid rising oil prices.
- On 4 October the Central government announced a cut in the excise duty levied on sale of fuel in the country by Rs.1.50 per litre and asked state-run oil marketing companies to further subsidise Rs.1 per litre.
- Prices declined towards the end of the month, declining by 4.83% over the opening price of petrol in Kolkata attributed to cut in excise duty.
- On 1 November, petrol was being sold at Rs.81.30 per litre, which was also the highest petrol price recorded in the month.
- While crude oil prices were declining, the rupee gained some momentum against the US dollar which influenced the fall in fuel prices in the country.
- The lowest price was recorded on 30 and 31 November prompted by the declining global crude oil prices.
- The petrol price trend in Kolkata during November dropped by 7.79% impacted by the cut in excise duty coupled with the drop-in oil prices in the international market.
- Petrol was being sold at Rs.74.62 per litre on 1 December – the highest rate registered during this month.
- Prices of petrol declined during the month as the crude oil price was down trading at $56 per barrel as against a 4-year record high of $80 per barrel early October.
- On 31 December, the lowest price was recorded for the month when a litre of petrol was sold at Rs.70.92 per litre.
- Overall, petrol prices in Kolkata in December fell by 4.96% mainly due to the significant drop in oil prices coupled with the appreciation of the rupee over the US dollar.
Quarterly Petrol Price Trend in Kolkata between July 2018 and September 2018
|Opening date price||Rs.78.23 a litre||Rs.79.20 a litre||Rs.81.60 a litre|
|Closing date price||Rs.79.24 a litre||Rs.81.49 a litre||Rs.85.30 a litre|
|Highest price||Rs.79.71 a litre recorded on the 14th||Rs.81.49 a litre recorded on the 31st||Rs.85.30 a litre recorded on the 30th|
|Lowest Price||Rs.78.23 a litre recorded on the 1st||Rs.79.20 a litre recorded on the 1st||Rs.81.60 a litre recorded on the 1st|
Petrol Price Trend in Kolkata in July 2018
- Fuel prices in Kolkata, like other cities in the country, are revised on a daily basis by State-run oil companies by including the global crude oil price and the exchange rate of rupee over the U.S. dollar.
- Based on the daily revision in petrol prices, on the 1st of July, a litre of petrol in Kolkata was sold at Rs.78.23, the lowest price for the month.
- Oil companies kept petrol prices in Kolkata unchanged until the 5th of the month before increasing it by 16 paise on the 6th to be retailed at Rs.78.39 per litre.
- Prices of petrol continued to rise over the course of the second and third weeks to touch the highest in Kolkata at Rs.79.71 on the 14th of the month.
- However, by the end of the fourth week, petrol prices in Kolkata declined to touch Rs.79.20 per litre on the 31st of the month.
- During the month of July, prices moved upwards by 1.28% influenced by the incline in the crude oil price and the slight fall in the Indian currency’s exchange rate.
Petrol Price Trend in Kolkata in August 2018
- The petrol price was hiked by 4 paise per litre on the 1st of August in Kolkata to cost Rs.79.20 a litre, the lowest price of petrol for the month.
- Petrol price continued to rise unabated for the first and second weeks in tandem with the rise in crude oil prices and the fluctuations of the exchange rates of the Indian currency.
- On the 13th, oil companies reduced the petrol cost in Kolkata by 8 paise per litre when petrol was available in Kolkata at Rs.80.10 a litre.
- Despite the rising fuel prices in the country, neither the Centre or the State reduced taxes which prompted fuel prices to touch new levels in the month of August.
- Coupled with a weak rupee and the rising oil prices, petrol prices in Kolkata continued to incline with petrol costing Rs.81.49 per litre on the 31st of August - the highest price of the month.
- Overall, the petrol price trend in August in Kolkata was upward to grow at 2.81%, comparing the opening price to the closing price in the month.
Petrol Price Trend in Kolkata in September 2018
- The petrol price in Kolkata on the 1st of September rose by 11 paise per litre to stand at Rs.81.60 a litre, this was also the lowest price for the month.
- The upward trend continued until the 11th of the month with prices touching Rs.83.75 per litre. The State-government announced a cut in the local sales tax or VAT by Rs.1 per litre on petrol and diesel.
- The reduction of Rs.1 per litre led petrol prices in the city to fall to touch Rs.82.74 a litre on the 12th of the month.
- However, the cut in petrol prices was short lived as it rose again to wipe out the reduction in fuel prices in Kolkata.
- The rise in crude oil prices along with the significant fall in the exchange rate of the rupee over the U.S. dollar prompted petrol price to touch record levels in the month.
- The highest petrol price in Kolkata for the month stood at Rs.85.30 per litre recorded on the 30th of the month.
- Overall, there was an upward movement in the petrol price in Kolkata for the month of September inclining by 4.34%, attributed to the rise in oil rates and the decline in the exchange rate of the rupee over the dollar.
Quarterly Petrol Price Trend in Kolkata between April 2018 and June 2018
|April 2018||May 2018||June 2018|
|Opening date price||Rs.76.44 a litre||Rs.77.32 a litre||Rs.80.96 a litre|
|Closing date price||Rs.77.32 a litre||Rs.81.02 a litre||Rs.78.23 a litre|
|Highest price||Rs.77.36 a litre registered on 24th||Rs.81.10 a litre registered on 29th||Rs.80.96 a litre registered on 1st|
|Lowest price||Rs.76.44 a litre registered on 1st||Rs.77.32 a litre registered on 3rd||Rs.78.23 a litre registered on 27th, 28th, 29th and 30th|
Petrol Price Trend in Kolkata in April 2018
- Petrol was valued at Rs.76.44 a litre on 1st and Rs.76.56 a litre on 2nd. The fuel companies increased the fuel price to Rs.76.69 a litre on 3rd and declared an increasing trend for the first week.
- The upward trend continued until 14th April in sync with the crude oil rates in overseas markets. During the first fifteen days, petrol was sold at an average price of Rs.76.65 a litre.
- While the third week witnessed a growing trend, petrol rates in Kolkata were steady during the last week. Like other cities, petrol rates have increased by a small margin, which is 1.15%.
- The growth rate has been minimal because of the international influencers such as crude oil costs and the exchange rate. Crude oil per barrel was priced at $69.30 this month whereas the INR has fallen by 2.05% against the USD.
- Because of the upward trend, the highest rate was booked at Rs.77.36 a litre towards the end of the month. The price, which was offered on 1st, turned out to be the lowest fuel price for the month.
- For the entire month, Hindustan Petroleum, Bharat Petroleum and Indian Oil have fixed the fuel price under dynamic fuel pricing, which ensures 100% transparency in fuel pricing.
Petrol Price Trend in Kolkata in May 2018
- The price, which was offered on the last day of the previous month, was also the opening date price in the city of Kolkata. Until 7th, the price of petrol per litre stood at Rs.77.32 a litre.
- Petrol prices have depicted a mixed reaction throughout the month in response to the changes in the exchange rate and the price of crude oil.
- On 29th, the highest fuel price was recorded at Rs.81.10 a litre whereas the lowest fuel rate stood at Rs.77.32 a litre on 3rd.
- Crude oil gained demand in overseas markets and thus, the price of crude oil per barrel increased to $75.31 from $69.30 in May 2018. As a result, petrol rates were up 4.78% to Rs.81.02 a litre.
- For the month, the highest fuel rate stood at Rs.81.10 a litre on 29th whereas the lowest fuel price stood at Rs.77.32 a litre on 3rd.
- On 1st May 2018, the exchange rate of the INR was Rs.66.84 against the USD. It increased to Rs.67.44 on 30th. This deviation in the exchange rate had no impact on the pricing of petrol in Kolkata.
Petrol Price Trend in Kolkata in June 2018
- Petrol retailed at an average price of Rs.80.57 a litre during the first week. For the second week, the average fuel rate dropped to Rs.79.40 a litre.
- Like other metro cities such as Delhi, Mumbai and Chennai, petrol price trend in Kolkata was not consistent caused by the variations in the global elements. In the end, fuel rates were down by 3.37%.
- Between April 2018 and June 2018, the highest petrol price stood at Rs.80.96 a litre whereas the lowest price was booked at Rs.76.44 a litre.
- Taxes make a big difference to the valuation of petrol prices. In India, petrol is taxed by the Central Government and the state government.
- During this quarter, both the State Government of West Bengal and the Central Government have not revised the taxes, which are levied on the fuel.
- Therefore, the upward trends in the month of April 2018 and May 2018, and the downward trend in the month of June 2018 was not impacted by excise duty and Value-added Tax.
- This quarter was very crucial since petrol rates in the city have reached their all-time highs. The government faced the criticism from fuel buyers and opposition party leaders.
Trend in Petrol Price in Kolkata between January 2018 and March 2018
|Opening date price||Rs.72.72 a litre||Rs.75.74 a litre||Rs.74.32 a litre|
|Closing date price||Rs.75.62 a litre||Rs.74.26 a litre||Rs.76.26 a litre|
|Highest price||Rs.75.62 a litre registered on 31||Rs.76.07 a litre registered on 2||Rs.76.26 a litre registered on 16|
|Lowest price||Rs.72.72 a litre registered on 1||Rs.74.26 a litre booked on 28||Rs.74.32 a litre registered on 1|
|% Change||3.83% up||1.99% down||2.54% up|
Trend in Petrol Price in Kolkata in January 2018
- The petrol price of Rs.72.72 a litre was announced after the daily revision on the first day and the lowest price was also booked at Rs.72.72 a litre in Kolkata.
- Indian Oil, Bharat Petroleum and Hindustan Petroleum have relentlessly increased the price during the first week, which ended with an offer of Rs.73.02 and produced a hike of 0.41%.
- A growth rate of 0.84% was reported between 8 and 14 triggered by an upsurge in unrefined oil rates and a depreciated dollar. The cost of crude oil hiked since the commodity accumulated a reasonable amount of demand globally.
- On 21, petrol was valued at Rs.74.79 a litre and gained the price at a growth rate of 1.35%. This is quite fascinating to notice.
- Until the end of the month, the fuel companies reported a steady increase in the fuel rate. The highest price stood at Rs.75.62 a litre and was declared on 31, the last day of the month.
- The USD/INR was down 0.20% whereas the crude oil rate soared to 67.06 per barrel from Rs.62.29 per barrel this month. Thus, the growth rate for the whole month was 3.83%. But, the domestic influencers such as excise duty and Value-added Tax were not revised.
Trend in Petrol Price in Kolkata in February 2018
- The fuel rate retailed with an average price of Rs.75.74 per litre on the opening date in Kolkata at all the three state-run OMCs. The USD lost its value steadily versus the domestic currency, giving a rise in the fuel price.
- In global markets, crude oil retained the same level of demand, and thus, both WTI and Brent Crude Oil prices were steady. Due to which, during the first week, fuel rates have not fallen, but have reached a price mark of Rs.76.07 per litre.
- Since the crude oil price of Indian Basket slid to $63.63 per barrel, at the end of the week two, the fuel was down 0.13%.
- On 21, 22, 23, 24, 25, 26 and 27, petrol was valued at Rs.74.74 a litre, Rs.74.45 a litre, Rs.74.36 a litre, Rs.74.27 a litre, Rs.74.25 a litre, Rs.74.28 a litre and Rs.74.26 a litre respectively.
- The month closed with the lowest price of Rs.74.26 a litre and a price drop of 1.99%, unlike the previous month.
- This month neither the State Government of West Bengal nor the Central Government has rese the excise duty or the Value-added Tax.
Trend in Petrol Price in Kolkata in March 2018
- On 1, 2, 3, 4 and 5, in Kolkata, the fuel rate was up 6 paise, 18 paise, 24 paise, 26 paise and 6 paise respectively. For the entire month, the lowest fuel price was recorded at Rs.74.32 a litre on the opening date.
- The USD/INR exchange rate was down 0.29%, 0.19% and 0.04% on 5, 6 and 7 correspondingly. The Indian Crude Basket was also up reasonably. So, between 7 and 14, the growth rate in the fuel rate was noticeable.
- Indian Oil Company reported a price offer of Rs.74.94 a litre on 21 and a minute price variation was observed between the prices offered by HPCL and BPCL.
- The highest price was Rs.76.26 a litre as on 26 and the same was confirmed by all the three fuel corporations.
- For the month, the Indian Basket of Crude Oil was soared to $63.80 a barrel from $63.54 a barrel. Therefore, the fuel price was up 2.54%.