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Petrol Price in (21st October 2019)

Petrol prices in have been turning more volatile, as prices of crude oil have been showing a firm trend. It is important to check todays petrol price in ₹  (1st January 1970), especially if you are going for a long drive. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. The rupee has also moved lower against the dollar, which has made petrol prices in more expensive than before. It is hoped that the government can reduce excise duties, so as to enable rates to become more cheaper in the coming days.

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Last 10 Days Petrol Rate in

Date Price Price Change

Daily & Monthly Petrol Price in : Graphical Representation

Historical Petrol Price in

  • Trend of Petrol Rate in , October 2019
  • Petrol Price
    1st October Rs.69.76
    21st October Rs.67.40
    Highest rate in May Rs.77.62 on May 1st
    Lowest Rate in May Rs.59.57 on May 16th
    Over all performance Falling
    % Change -3.50%
  • Trend of Petrol Rate in , September 2019
  • Trend of Petrol Rate in , August 2019
  • Trend of Petrol Rate in , July 2019
  • Trend of Petrol Rate in , June 2019
  • Trend of Petrol Rate in , May 2019

Petrol prices were revised daily in India with effect from June 15, 2017. This was a marked departure from the earlier practice of revising petrol prices every fortnight.

Daily Petrol Prices Revision in India

Daily petrol prices revision is a better proposition for a number of reasons.

The first and the foremost is that it allows you to easily absorb the changes in daily petrol prices in India by a few paise. When petrol prices are revised or changed every fortnight there is a big variation in prices, which puts great additional pressure on the consumer.

In India, petrol prices are revised by the oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on the international prices. So, when international crude oil prices gain, petrol prices in India move higher and so on. On the other hand, if crude oil prices in the international markets drop, we see a fall in daily or today's petrol prices in India. In any case, we are providing our readers with the daily petrol prices, so they can plan their requirements of filling petrol accordingly.

Factors affecting Todays Petrol Price In India

Cost of Crude Oil – The change in the price of crude oil in the international market directly influences the price of crude oil in the domestic market; this is one of the most important factors responsible for an increase in petrol prices in Indian domestic market. Increase in international demand, low production rate and any political unrest in the crude oil producing countries of the world severely affects petrol price.

Increased Demand – Economic growth in India and other developing countries has also led to the increase in demand for the petrol and other essential fuels in India. The number of people who own private vehicles has gone up in the recent past which has contributed to the increase in demand for petrol in India; this has resulted in the hike in petrol prices in India.

Mismatch of Supply & Demand – Oil refinery companies in India face problem to meet the demands of the market due to the high cost of input price of crude oil thus resulting in less supply and more demand for petrol in the country. An increase in supply results in a decrease in the price of the petrol and vice versa. Oil refining and marketing companies maintain crude oil inventory up to six weeks, which also influences the price of the petrol and petroleum products.

Tax Rates – The prices of petrol and other petroleum products varies according to the local government policies which impose taxes on fuels. As and when the government of India raises tax rates on fuels the oil companies in India also increases the price of the petrol to recover losses and maintain marginal profits in the oil business in India.

Rupee to Dollar Exchange Rate – The rupee-dollar exchange rate is also one of the major factors which influence the price of petrol in India. Indian oil companies pay to the oil imported from other countries in terms of dollars, but their expenses are regarding rupee. So, when the price of the crude oil is in the fall but the rupee is also weak against the dollar then it will reduce the gains to the oil refiners. On the other hand, when the rupee strengthens against the dollar and the price of the crude oil is in the fall, then the oil companies tend to gain.

Logistics - Logistics is one of the significant factors in pricing retail fuel. Petrol and diesel transported to longer distances to cities or regions farther from depots will be priced higher than the places nearer to the oil companies storage area. The reason behind the change in the prices of petrol in different cities across India. This difference may be huge between cities that are far from each other. For example, petrol price in Delhi is Rs.72.38 per liter on January 24, 2018, and the same petrol price is Rs. 80.25 per litre in Mumbai.

Various taxes that impact petrol prices in India

The fear linked to the rise of petrol prices in India seems to be never ending. Do we blame crude oil for these steep prices hikes? Or, is the root cause something different? Well, the answer lies in the fact that while crude oil continues to remain cheaper, it is the taxes levied by the state and central governments which are actually responsible for the ever rising petrol rates.

If studies are to be followed, it would be quite simple to associate the tax factor to the steep hike in petrol prices. Since May 2014, there has been a successive increase in excise duties. Data reveals that as of November 2014, there has been a 54 percent increase in the excise duty on petrol.
In spite of the government slashing excise duty on petrol according to the Budget 2018, yet there seems to be no downward curve when the price of petrol is taken into consideration. This is due to the introduction of Rs. 8 per litre as Road Cess.

Daily price revision of petrol has begun from 16th June this year. It has been observed that the price rise has happened gradually. As petrol does not fall under GST, the price of it varies across states. However, when considering the cost & freight prices along with the excise duty, dealer commission, applicable VAT, etc, it has been found that the taxes on petrol sums up to be more than its actual cost.

Although, presently crude oil has become much cheaper compared to what it had been way back in 2014, it is the collective taxes levied by the state and the central government that has caused the petrol prices to rise to what it had been in 2014, the highest till date. Despite promises from the government regarding rolling back the taxes, we are yet to see some positive efforts on this front.

How Petrol Prices Today in India are calculated?

Petrol prices are a function of many things. Among these include the average of the India crude basket, to which is added a host of taxes including value added tax, central excise etc.

At the moment, we have the excise duty levied by the government, which is a staggering Rs 21 per litre. Should this be reduced we might get some respite from very high retail level of fuel and diesel.

 The value added tax, differs from state to state. In cities like Mumbai and New Delhi the value added tax is very high, which has resulted in an extremely high prices for both petrol and diesel.

 In India, retail prices are determined by the oil marketing companies, bearing all these things in mind. So, the retail price of petrol in India today is determined by the Indian Oil Marketing Company, which is the largest oil marketing company in the country.

For example, it releases the price of petrol everyday at 6 am, wherein it is revised at the petrol pumps in the country. The private sector petrol pumps like Shell also determine their own prices, though they tend to be higher than that of Indian Oil Company, BPCL and HPCL.

Why petrol prices today are expensive in India?

 The fuel is one of the costliest, when compared to neighboring countries like Pakistan, Bangladesh and Sri Lanka. It maybe recalled that petrol and diesel prices were earlier subsidized by the government, but, the same were aligned to market prices.

However, the government has over the years added to excise duty on petrol, which has made it horribly expensive for consumers.

 The one reason why excise is added before petrol is retailed at the fuel stations is to mop-up additional resources for social schemes. However, this leave the common burdened with additional rates on the fuel.

 The government is looking at the possibility of reducing petrol prices over the longer term, however, it would need to find more longer term mechanisms to do so. One of them is to add some taxes onto Oil and Natural Gas Corporation, which is an oil exploration company. However, these maybe all temporary measures and one needs to find a more durable long-term solution. 

Where and how to check petrol prices in India today?

You can check petrol prices in India, in a number of ways. The most popuar way is to send an SMS. For example, if you are at an HPCL pump you can send an SMS to: HPPRICE DEALER CODE and send it to 9222201122. 

For Indian Oil Corporation or IOC send SMS to: Type: RSP DEALER CODE and send it to 9224992249. 

You can also go online and check a number of websites, that provide you daily rates of the fuel. Remember, that Indian Oil the country's largest retailer revises fuel prices everyday at 6 am in the morning. So, you are able to check live petrol price everyday after this time. 

It is also important to note that bulk of the fuel is supplied by the government owned oil refining companies, including the likes of Indian Oil, Bharat Petroleum and HPCL. There are other private retailers like Shell, which also retail fuel at a slightly higher price. 

Petrol Prices in India Stands Still in India Amidst Ongoing Election Session

The petrol prices in India stood still despite witnessing a fall in global crude rates amidst sluggish fuel demand.

The petrol rates in India were seen trading at Rs 73.27 per litre in New Delhi, Rs 75.92 per litre in Kolkata, Rs 78.88 per litre in Mumbai and Rs 76.09 per litre in Chennai.

In the overseas markets, Brent stood at $59.18 per barrel, down by 0.40% and West Texas Intermediate (WTI) was at $53.74 per barrel, down by 0.24%.

The growing signs of a global economic slowdown have hit the demand for crude in the international markets with China recording a meagre 6% economic growth for the third quarter of 2019, its weakest in the last 27 and half years. China is the second-largest importer of crude in the globe. The weak economy of the dragon country as a result of year-long trade tariff tensions, which in turn will dampen the demand concerns.

OPEC non – member partner, Russia announced that it has not met its supply reduction commitment during September owing to rise in its natural gas condensate output as the country braces for winter.

The rupee value was spotted at 71.00 against the U.S. currency during today’s trade session. The ongoing election in two states in India has led to keeping the petrol prices firm in India.

21 October 2019
Petrol Rates in India Remains Firm Despite Fall in Global Crude Rates

The petrol prices in India remained firm despite a fall in crude rates in the global markets amidst slowest GDP growth in three decades. The petrol rates in India were seen trading at Rs 73.27 per litre in New Delhi, Rs 75.92 per litre in Kolkata, Rs 78.88 per litre in Mumbai and Rs 76.09 per litre in Chennai.

In the overseas markets, Brent was seen trading at $59.56 per barrel, down by 0.58% and West Texas Intermediate (WTI) was seen at $53.78 per barrel, down by 0.28%.

The weak economic growth of China which slowed to hit 6% year on year is the slowest so far in the past 27 and half years and is below analyst’s expectations. The ongoing trade tensions added with soft factory production and weak domestic demand has hit the growth factor for Beijing.

The weak data from the dragon country is likely to dampen the demand factor for crude and thus the prices have come down during today’s trade session.

Meanwhile, the rupee value slid marginally in India by 4 paise to touch 71.20 against the U.S. dollar during today’s opening session owing to increased demand for the greenback from importers.

18 October 2019
Petrol Prices in India Stands Still

The petrol prices in India stood still despite a fall in global crude prices amidst deep concerns by the U.S. on Chinese ships carrying Iranian oil. The petrol rates in India were seen trading at Rs 73.27 per litre in New Delhi, Rs 78.88 per litre in Mumbai, Rs 75.92 per litre in Kolkata and Rs 76.16 per litre in Chennai.

In the overseas markets, Brent was seen trading at $58.93 per barrel, down by 0.82% and West Texas Intermediate (WTI) was seen at $52.84 per barrel, down by 0.97%.

In a warning message to China, the White House has warned the shipping companies of Beijing against turning off their ships transponders who are illegally carrying Iran’s crude in violation of the U.S. sanctions. China is the largest consumer of crude in the world and currently, Tehran is facing sanctions from the United States of America to bring down their crude exports to zero.

The U.S. President – Donald Trump has imposed sanctions on Tehran as it aims to quash Iran’s nuclear ambitions, influence in the neighbourhood Syria and its ballistic missile program. As of now, Iran’s oil exports have fallen sharply to less than 400,000 barrels per day (bpd) as against its earlier level of 2.5 million bpd.

Meanwhile, the rupee value gained marginally to touch 71.41 against the U.S. dollar against the previous record of 71.59.

17 October 2019
Petrol Prices in India Stands Still Despite Global Rally in Crude Rates

The petrol prices in India stood still despite rallying of crude rates in the international markets amidst signs of possible supply cuts by OPEC. The petrol rates in India were seen trading at Rs 73.27 per litre in New Delhi, Rs 75.92 per litre in Kolkata, Rs 78.88 per litre in Mumbai and Rs 76.16 per litre in Chennai.

In the overseas markets, Brent was recorded at $58.99 per barrel, up by 0.43% and West Texas Intermediate (WTI) was at $53.06 per barrel, up by 0.47%.

Improved performance in the global equities markets lent support for crude prices to march up during today’s trade session. The Organization of Petroleum Exporting Countries (OPEC) Secretary-General – Mohammad Barkindo announced that its members and allied producers will do whatever in its power to sustain crude market stability beyond fiscal 2020.

The statement raises possible hopes of crude supply cut by the OPEC to support its global prices.

The possible Brexit deal ahead of Britain’s exit from the European Union is all set to take place this month end on October 31. Last-ditch talks related to the issue took place yesterday ahead of the summit of bloc’s leaders and it ran past midnight, but it is still unclear if the London will avoid postponing its departure or it will stick to the earlier mentioned deadline on October 31.

Meanwhile, the rupee value opened lower at 71.59 as against the previous close of 71.54 against the U.S. dollar.

16 October 2019
Petrol Prices In India Inches Down

The petrol prices in India inched down following global trends as weak economic data from China dampens the crude demand factor. The petrol rates in India were seen trading at Rs 73.27 per litre in New Delhi, Rs 75.92 per litre in Kolkata, Rs 78.88 per litre in Mumbai and Rs 76.09 per litre in Chennai.

In the overseas markets, the crude benchmark – Brent was recorded at $58.89 per barrel, down by 0.78% and West Texas Intermediate (WTI) was at $53.21 per barrel, down by 0.71%.

The prolonged trade tariff battle between the U.S. and China has cast a shadow on the growth of the global economy over the last few months. During September, the dragon country witnessed improvement in its exports, while the imports contracted for the fifth consecutive month. The situation points out the fact, that the country requires more stimulus amidst easing of trade tensions between the two major economies.

The tensions in the Middle East region has also weighed on the crude prices in the international markets.

Meanwhile, the rupee opened flat at 71.24 against the U.S. dollar during today’s trade session amidst feeble Chinese economic data which is likely to dampen the progress towards the resolution of the U.S. - China trade war.

15 October 2019
Petrol Prices in India Stands Still

The petrol prices in India stood still despite the fall in global crude rates amidst the rise in crude imports by China. The petrol rates in India were seen trading at Rs 73.32 per litre in New Delhi, Rs 75.97 per litre in Kolkata, Rs 78.93 per litre in Mumbai and Rs 76.35 per litre in Chennai.

In the overseas markets, Brent was seen trading at $59.97 per barrel, down by 0.89% and West Texas Intermediate (WTI) was at $54.22 per barrel, down by 0.88%.

The easing of trade tensions between the U.S. and China has helped the stock markets to jump across the globe. The easing of trade tensions has helped the investors to be risk-averse as they are switching from the safe-haven assets towards equities.

China, which is the top oil importer in the globe has bough in 41.24 million tonnes of crude which comes up to 10.04 million barrel per day (bpd) for September 2019, as per the data released from the General Administration of Customs. During September 2018, the dragon country had imported 9.93 million bpd.

Meanwhile, the rupee value rose up against the dollar and settled at 70.88 during today’s opening session as against the previous close of 71.02.

14 October 2019
Petrol Prices in India Slips Marginally Amidst Attack on Iran’s Oil Tanker

The petrol prices in India slipped slightly despite rallying of crude prices in the international markets amidst yesterday’s attack on Iran’s oil tanker. The petrol rates in India were seen trading at Rs 73.32 per litre in New Delhi, Rs 75.97 per litre in Kolkata, Rs 78.93 per litre in Mumbai and Rs 76.20 per litre in Chennai.

In the overseas markets, Brent rose up by 2.39% to trade at $60.51 per barrel and West Texas Intermediate (WTI) was at $54.70 per barrel, up by 2.15%.

In a move that is likely to further escalate tensions in the Middle East region, Iran’s oil tanker was hit by two missiles while it was sailing in the Red Sea off Saudi Arabia’s coast. The attacks on the oil tankers since May is on the rise influencing the crude prices to shoot up in the overseas markets.

Sabiti, Iran’s oil tanker was hit in the morning at around 96 kilometres from Saudi Arabia’s Jeddah port as per the reports from Iran’s media. Though no one has officially claimed responsibility for the attacks, Iran has blamed Saudi Arabia for the attacks.

Meanwhile, the rupee value was seen trading at 71.05 per U.S. dollar during yesterday’s closing session. The petrol prices in India is based on rupee-dollar currency exchange rate and crude prices in international markets.

12 October 2019
Petrol Prices in India Slips Amidst Appreciating Rupee Value

The petrol prices in India slipped down despite rising in crude prices in the international markets amidst trade talk hopes and prospects of a deeper OPEC supply cuts. The petrol rates in India were seen trading at Rs 73.42 per litre in New Delhi, Rs 76.07 per litre in Kolkata, Rs 79.03 per litre in Mumbai and Rs 76.25 per litre in Chennai.

In the overseas markets the crude prices rallied up by over 1%, Brent was seen trading at $59.76 per barrel, up by 1.12% and West Texas Intermediate (WTI) was seen trading at $54.12 per barrel, up by 1.06%.

The Organization of the Petroleum Exporting Countries (OPEC) Secretary-General, Mohammad Barkindo announced that all options were on the table including that of a deeper cut in supply to balance the oil markets and this supported the fuel prices to march up during today’s trade session. He further noted that a decision related to the same will be taken in December during a meeting between the OPEC and its member partners.

OPEC had recently trimmed down its global fuel demand growth forecast to 0.98 million barrels per day (bpd) for 2019 and kept its 2020 demand outlook intact at 1.08 million bpd.

The optimism surrounding the ongoing trade talks between the U.S. and China helped the rupee to trade higher at 70.83 per dollar, up by 0.34% from the previous close of 71.07.

11 October 2019
Petrol Prices in India Slips Following Global Cues

The petrol prices in India slipped following global cues as hopes of U.S. - China trade war diminishes. The petrol rates in India stood at Rs 73.54 per litre in New Delhi, Rs 76.18 per litre in Kolkata, Rs 79.15 per litre in Mumbai and Rs 76.38 per litre in Chennai.

In the overseas markets, the crude benchmark – Brent was recorded at $58.28 per barrel, down by 0.07% and West Texas Intermediate (WTI) was at $52.55 per barrel, down by 0.08%.

The upcoming two-day trade talks between the U.S. and China which will begin from today in Washington is unlikely to settle down the trade war which is being fought between the two major nations since last 15 months. China, the biggest oil importer has downgraded their expectations for talks and on the other hand, the U.S. President – Donald Trump has decided to raise tariffs on Chinese goods worth $250 billion to 30% from 25% starting from October 15, if in case the trade talks show no progress.

The unresolved tit for a tat trade war has disrupted the global supply chain and has actively slowed down the economic growth rate of both the countries resulting in dampening fuel demand outlook.

Meanwhile, the Indian rupee opened higher by 12 paise at 70.95 per dollar as against the previous close of 71.07.

10 October 2019
Petrol Rates in India Stands Still Amidst Appreciating Rupee

The petrol prices in India stood still despite a fall in crude prices in the overseas markets amidst rising uncertainties over global economic growth and crude demand. The petrol rates in India were seen trading at Rs 73.59 per litre in New Delhi, Rs 76.23 per litre in Kolkata, Rs 79.20 per litre in Mumbai and Rs 76.43 per litre in Chennai.

In the overseas markets, Brent was seen trading at $58.04 per barrel, down by 0.34% and WTI was at $52.41 per barrel, down by 0.42%.

The unsettled trade dispute between the U.S. and China has dragged the global economic growth towards recession which has worried the investors to a great extent. The high-level diplomats of the two major economies are all set to meet on Thursday and Friday with a vision to hammer out a deal at the earliest.

The tensions between the U.S. and China has still not settled, the United States of America has imposed visa restrictions on Chinese officials owing to detention and abuse of the minority Muslim community in dragon country.

Meanwhile, the rupee value slipped to a new low during today’s trade session and was seen at 74.27 against the U.S. dollar.

9 October 2019

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