Petrol prices in Bangalore 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 Bangalore (₹73.36), 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 Bangalore 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.
|Feb 18, 2019||₹ 73.25||₹ 0.15|
|Feb 17, 2019||₹ 73.10||₹ 0.17|
|Feb 16, 2019||₹ 72.93||₹ 0.15|
|Feb 15, 2019||₹ 72.78||₹ 0.07|
|Feb 14, 2019||₹ 72.71||₹ 0.06|
|Feb 13, 2019||₹ 72.65||₹ 0.00|
|Feb 12, 2019||₹ 72.65||₹ -0.01|
|Feb 11, 2019||₹ 72.66||₹ 0.06|
|Feb 10, 2019||₹ 72.60||₹ 0.00|
|Feb 9, 2019||₹ 72.60||₹ -0.10|
|Highest rate in February||Rs.73.36 on February 19th|
|Lowest Rate in February||Rs.72.60 on February 9th|
|Over all performance||Rising|
|Highest rate in January||Rs.73.62 on January 22nd|
|Lowest Rate in January||Rs.69.01 on January 4th|
|Over all performance||Rising|
|Highest rate in December||Rs.73.09 on December 1st|
|Lowest Rate in December||Rs.69.39 on December 31st|
|Over all performance||Falling|
|Highest rate in November||Rs.79.94 on November 1st|
|Lowest Rate in November||Rs.73.44 on November 30th|
|Over all performance||Falling|
|Highest rate in October||Rs.84.67 on October 4th|
|Lowest Rate in October||Rs.80.17 on October 30th|
|Over all performance||Falling|
|Highest rate in September||Rs.84.74 on September 17th|
|Lowest Rate in September||Rs.81.27 on September 1st|
|Over all performance||Rising|
|Highest rate in August||Rs.81.07 on August 31st|
|Lowest Rate in August||Rs.78.69 on August 2nd|
|Over all performance||Rising|
It becomes extremely important to check the daily petrol price in Bangalore before you fill your tank. This is because unlike before, where petrol prices changed every fortnight, what we are seeing is that prices keep changing in Bangalore city more often. For example, today's petrol prices in Bangalore was very different to what it was until a few days ago. This is because of the beginning of June 15, there is a daily price revision.
In fact, after petrol prices were deregulated, we saw fortnight revisions.This was highly inconvenient for consumers who ended-up paying Rs 2-3 higher for fortnightly revisions. This put an additional pressure and burden on the consumer. Things have become a lot easier these days with the everyday price revision of petrol not only in the city of Bangalore but, also the entire nation. Oil marketing companies like Indian Oil, HPCL and BPCL will now revise the prices early morning and this is a big plus for consumers.
India is a fast growing country, and also India is a big producer, consumer, and importer of petroleum products. Demand for oil products is increasing in India and India, There is a vast scope of oil storage. Having petroleum will provide technological improvements, financial incentives, policy initiatives and legislative measures. Mainly, the transport sector is the sector where most of the petroleum products especially petrol and high-speed diesel are consumed. Due to this consumption petrol price in Banglore is increasing day by day. Comparatively the petrol rates in Banglore in the past ten years are up by nearly thirty to forty rupees. There was a time when petrol price Bangalore was as low as Rs 40. But now due to the high Consumption and the necessity petrol rates are now at nearly almost at Rs 70. As of the rates seems to be doubled. Road transport solely accounts for about 37 per cent of the total oil usage, and the remaining is consumed for the machinery and other products which run on fuel.
From the past three years the petrol price in Bangalore has changed frequently once every 15 days. Before June 16th petrol price in Bangalore used to change every 15 days or two weeks by the top petroleum companies once. But the price of petrol now changed daily in the morning at 6.00 am. This change has been due to various reasons. Before two weeks once the price used to change around one or two rupees whereas now the price change in paise.
Anyhow due to the price change, larger vehicles tend to lose or save money every day. Even the companies which use a lot of petrol every day by buying and storing them in the big vessels may also buy petrol by having a track on petrol every day and buy it when the price of the petrol in Bangalore falls.
We know that both petrol and diesel are produced from crude oil then why is the petrol price in Bangalore is costlier than Diesel price most of us wonder. There are many reasons such as the refining costs, taxes, demand, etc.
The first and the main reason for it is the refining cost. In the refining process of the crude oil, crude Oil is separated into different components then further it is treated to form petrol, diesel or other petroleum products. So during the further treatment for making petrol, it will cost a lot whereas for the diesel it will not cost that much comparatively. Diesel is heavier and less volatile when compared to petrol. So, Diesel is not as much refined as petrol is refined. There are other duties such as Excise Duty, VAT, etc. which are a little higher for petrol when compared to Diesel. All these together make the petrol price in Bangalore costlier comparatively.
In diesel car, initial buying cost is high, but mileage is greater than its petrol counterpart. So now what matters is how much you drive in a month, if you drive around 1500kms a month or 50kms every day, then go for diesel, otherwise petrol.
If you are someone who frequently takes long distance trips, comfortability would be a factor, and diesel cars are more comfortable than petrol, plus the ease of driving will be better in diesel ones.
Coming to Bangalore, the usage of four wheelers has risen in both petrol and diesel. But, people prefer the petrol cars because compare to diesel, petrol cars are low on maintenance. Oil marketing companies are planning to put in place a mechanism to which fuel prices petrol will be compared with international crude oil prices on a daily basis.
From the past four days, the petrol price in Bangalore rose to 12 paise.i.e Rs 68 to RS 68.12 paisa.
Petrol price in Bangalore today was hiked to Rs 73.25 per litre.
The price of fuel was affected by an increase in crude oil price and the weakening of the rupee. International crude oil benchmark Brent climbed to $66.78 a barrel, its highest since November 2018 after supply cuts decisions from the Organisation of Petroleum Exporting Countries (OPEC) and its some of its allies like Russia. This supply cut was decided in December after a steep fall in oil prices, however, the sanctions imposed by the US government on Venezuela and Iran, both members of OPEC, have added to the woes. The possibility of the end of trade disputes between the US and China also support the crude prices in the global markets this morning before it weakened after China reported a drop in car sales. The retail price of fuel sold in India is, however, reset at 6 am in the morning, which means that any change in oil price in the international scale will only be affected the next day.18 February 2019
Petrol price in Bangalore today was hiked to Rs 72.78 per litre after the international rates rose. Brent crude oil, the benchmark for global oil prices climbed over $65 a barrel, which is its highest in 2019 after OPEC (Organisation of Petroleum Exporting Countries) made cuts this week with Saudi Arabia announcing a higher than expected cut. Along with its ally Russia, OPEC had made voluntary production cuts starting January and was aimed at tightening the market. The top exporter among them, that is Saudi Arabia said that it would cut an additional half a million barrels per day starting next month. This comes alongside involuntary production curbs from US sanctions on Venezuela and Iranian crude and fall in output in Libya. Furthermore, partial closure of Saudi Arabia's Safaniya, its largest offshore oilfield which has a production capacity of more than 1 million bpd added to the woes.15 February 2019
Petrol price in Bangalore today was stable at Rs 72.65 per litre. The indifference in rate despite an increase in international oil prices means that the strong rupee was to the rescue of the citizens in India. Crude prices rose on Wednesday after the top exporter that is Saudi Arabia said that it would be cutting down crude exports along with a deeper cut in its production. However, the gains were capped from US government data that showed a rise in the American crude and fuel stockpiles in contradiction to an earlier industry report indicating oil inventories declined. Global benchmark Brent crude futures were up by 98 cents or 1.6 percent to $63.40 a barrel while US West Texas Intermediate (WTI) crude oil futures rose 94 cents, or 1.8 percent to $54.04 a barrel. The fact that the world economy is in a bad state with risks of geopolitical uncertainties in a number of countries and the hanging US-China trade was has been weighing on the markets.13 February 2019
Petrol price in Bangalore today remained unchanged at Rs 72.65 per litre as international oil prices fell. Despite the supply restraining attempts by OPEC, the commodity hasn't gained because of the resumed talks between the US and China over their trade negotiations. A higher level of discussion between the delegates of the two countries are expected in the next week as they try to reach a deal before the deadline of 1 March when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent. Their escalating tensions have not only costed the two countries billions of dollars but also caused disruption on global trade and economic activity. This will also mean lower demand for crude if the issue remains as disadvantageous for industrial activity. Benchmark Brent crude lost 63 cents or 1 percent to $61.46 a barrel.12 February 2019
Petrol price in Bangalore today was increased by 6 paise to Rs 72.66 per litre. The benchmark indices of international crude, however, fell after an uptick in US drilling, a close down of a fire at a major American refinery and reopening of the trade tension between the US and China has overshadowed support received from supply constraints led by Organisation of Petroleum Exporting Countries (OPEC). Brent oil fell 59 cents or 0.95 percent to $61.51 a barrel while the US West Texas Intermediate (WTI) crude dropped 89 cents or 1.78 percent to $51.78. Oil has been struggling to find its ground for a month now. Additionally, it can be argued that a lot of the economic data that was released over the last few days which was not encouraging in terms of economic activity and the possibility of an increase in demand for fuel. The trade talks between the US and China are also moving at a slow pace.11 February 2019
Petrol price in Bangalore today was dropped by 10 paise to Rs 72.60 per litre. The benchmark indices of international crude ended lower to result in the drop of rates in the Indian markets. While Brent closed at $62.14 per barrel, US West Texas Intermediate was at $52.72, recording the biggest loss for the week in 2019. The rates were pulled by the increasing worries of the global economic slowdown that could result in lower demand for fuel. Trade disputes between the US and China appear as if they would remain unresolved and damage global economic prospects. American President Donald Trump said on Thursday that he did not plan to meet Chinese President Xi Jinping before the 1 March deadline that was set by the two countries to strike a trade deal. Adding on to it, the European Commission sharply cut its forecasts for eurozone economic growth after global trade tensions and an array of domestic challenges.9 February 2019
Petrol price in Bangalore today was stable at Rs 72.76 per litre. The fuel prices in India are affected by the changes in global crude oil prices and the exchange rate of rupee against the dollar as the country is highly dependent on imports for its domestic demand. International oil prices fell due to an increase in American crude inventories and the rise of the country's production to record levels. US crude oil inventories rose by 1.3 million barrels in the week ended 1 February as the data released by Energy Information Agency (EIA) on Wednesday. Additionally, its average weekly production stayed at the record high of 11.9 million barrels per day making the USA the largest producer of oil in the world, a title usually traditionally used for Saudi Arabia and Russia. Moreover, the fall in industrial output has put concerns of a slowdown in economic activity back on the table.7 February 2019
The prices of petrol in Bangalore slipped marginally despite gaining strongly in the global market following a cut in global crude supply. The petrol rates in Bangalore stood at Rs 72.76 per litre, down by 3 paise.
The ongoing slow down of the global economy has weighed heavily on market sentiments amid tightening of global crude supply. Investors have now set their eyes on the Union address by President Donald Trump.
Crude benchmark – Brent was seen trading at $61.35 per barrel and WTI stood at $53.07 per barrel in the global markets, up from its previous market prices.
The recent U.S. sanctions on Venezuela has helped the crude prices to shoot up.
Meanwhile, the Indian domestic rupee surged up against the U.S. dollar and was seen at 71.49 mark. The positive opening in the domestic stock market added with fresh foreign fund inflows helped the domestic rupee to march up against the U.S. currency.6 February 2019
As per Reports from the international markets crude oil prices move up due to expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC.
WTI crude futures were trading at $54.77 per barrel and Brent crude oil futures were at $62.72 per barrel. Petrol price in Bangalore depends upon global crude oil prices but today petrol price in Bangalore dipped slightly and was seen at Rs. 72.76 per litre. The rise in rupee value against the dollar has led to the fall in petrol prices in Bangalore.
Today, the rupee was seen trading at 71.67 mark against the U.S. currency.5 February 2019
The petrol prices in Bangalore slipped following a drop in crude prices in the international market. The petrol rates in Bangalore were seen at Rs 72.92 per litre, down by 15 paise.
The crude benchmark – Brent was seen trading at $63.02 per barrel and WTI was at $55.28 per barrel.
Crude prices which rallied up in the international market witnessed dip during today’s trade session amid easing of tensions between U.S. and China. The U.S. sanctions on Venezuela’s oil firm continues to tighten crude supply amid a cut in OPEC member countries crude supply to the oil industry.
As per the survey from Reuters reveals that the OPEC countries crude supply has curtailed in January despite sluggish crude production declines from Russia. Russia’s crude oil production has depreciated to 11.38 million barrels per day.
The petrol prices in Bangalore are revised at 6 am in the morning in line with the rupee-dollar exchange rate and global crude rates.
Meanwhile, the rupee gained against the U.S. currency and was seen trading at 71.80 mark during today’s trade session. The rise in rupee value will make the dollar-priced crude less expensive for purchase.4 February 2019