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Petrol Price in Bangalore (22nd November 2017)

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 beginning of June 15, there is a daily price revision.

Petrol Price in Bangalore Today (Applicable from 6 am)

Last 10 Days Petrol Rate in Bangalore

Date Price Price Change
Nov 21, 2017 ₹ 70.61 ₹ 0.02
Nov 20, 2017 ₹ 70.59 ₹ -0.03
Nov 19, 2017 ₹ 70.62 ₹ -0.03
Nov 18, 2017 ₹ 70.65 ₹ -0.04
Nov 17, 2017 ₹ 70.69 ₹ -0.04
Nov 16, 2017 ₹ 70.73 ₹ -0.03
Nov 15, 2017 ₹ 70.76 ₹ -0.05
Nov 14, 2017 ₹ 70.81 ₹ -0.05
Nov 13, 2017 ₹ 70.86 ₹ 0.00
Nov 12, 2017 ₹ 70.86 ₹ -0.03

Daily & Monthly Petrol Price in Bangalore : Graphical Representation

Historical Petrol Price in Bangalore

  • Trend of Petrol Rate in Bangalore, October 2017
  • Petrol Price
    1 st October Rs.71.87
    31st October Rs.70.21
    Highest rate in October Rs.71.99 on October 3
    Lowest Rate in October Rs.69.32 on October 17
    Over all performance Falling
    % Change -2.36%
  • Trend of Petrol Rate in Bangalore, September 2017
  • Trend of Petrol Rate in Bangalore, August 2017
  • Trend of Petrol Rate in Bangalore, July 2017
  • Trend of Petrol Rate in Bangalore, June 2017
  • Trend of Petrol Rate in Bangalore, May 2017

Daily Petrol Price Revise in Bangalore

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.

Petrol Rates in Bangalore Steady

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 a. 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.

Why is Diesel price less than Petrol price in Bangalore?

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.

Comparing petrol prices vs diesel prices?

 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, comfort ability 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 wheeler 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 edge up in Bangalore

Petrol prices in Bangalore are slightly up due to two components: one is due to global crude oil prices trending higher, and one is due to taxes by the central government. There is somewhat easing in global crude prices which caused a rise in petrol prices in Bangalore. For the sake of consumers, the central government of India reduced basic excise duty at Rs. 2.50 paisa on petrol. The current petrol price in Bangalore is at Rs. 69.32 per liter. From the past four years, petrol price in Bangalore has changed frequently once every 15 days or for every two weeks, by petroleum companies. Now petrol prices in Bangalore changing daily, so consumers can check the daily petrol prices through mobile. From the last three months, the highest petrol price in Bangalore was recorded in Aug at Rs .70.23 per liter. The lower petrol price in Bangalore is at Rs.66.39.

Petrol prices inch higher

Petrol prices inched higher by 6 paise in Bangalore as global prices were firm. The beginning of the week, saw some firm cues in the prices of crude oil, largely pushed higher by global factors.

Petrol prices in Bangalore were last seen trading at Rs 69.51 per litre. It is likely that investors would continue to see good demand for the precious metal in the coming days. Earlier, there were reports that the government last week had cut the excise duties on petrol by Rs 2. This led most of the states to reduce the prices of petrol by Rs 2.5, which included VAT that is levied on such products.

The drop in the prices came as a huge relief for consumers who were reeling under heavy prices. It is highly likely that we may see the same trend emerge in the coming days. If global prices continue to remain firm, there are hopes that prices would rise.

Bangalore petrol prices edge lower as government slashes excise

In some states, the price of petrol is as high whereas at other places it can be as low. The reason for this is that the state government can make you pay for many things like sales tax, entry tax, Local Body Tax, etc. The rate of sales Tax & VAT is quite high in Karnataka, and hence the price of petrol is very high compared to other states. But the central government announced on Tuesday that basic excise duty on this fuel had been reduced to protect against the impact of rising petrol prices in the international crude oil market. To protect the common man, before the petrol price touches Rs 80 per liter, the central government of India cut the basic excise duty on petrol by Rs 2 per liter. The current petrol price in Bangalore is 69.44 Rs/Ltr.

Government may ask OMCs to absorb hikes

After petrol prices in Bangalore and other cities saw a steep increase, it is likely that the government may ask oil marketing companies to absorb any sharp increase in petrol rates. In Bangalore petrol prices have seen a sharp increase from levels of Rs 65 in July to the current levels of Rs 71. This trend is also prevalent in other cities where we are seeing sharp gains being made in petrol prices. This may come as a huge relief to consumers who have constantly complained of sharp increase in petrol prices in the last few weeks. It is important to see if the government cuts duties and other tarriffs to provide some relied to consumers. These sharp gains gains are also likely to have an impact on consumer inflation, which is not good for people. ost of the oil companies like Indian Oil, HPCL and BPCL may have to absorb the prices hikes in petrol.

How petrol price in Bangalore has gained?

Bangalore is one of the fastest growing metropolitan city in India. The main reason to increase the petrol price in Bangalore is due to high population. Petrol price in Bangalore has been increasing daily. In the month of the July, the price increased by 3.33%, and in the month of the August, it rose to 5.47%. Because the petrol price has been set for daily increases consumers have not been able to feel the pinch. In fact, over a period of two months, petrol prices in Bangalore have increased dramatically and this is not good news as it also means it could stoke inflation in the coming years.

A steady trend

According to Transport Department data, two-wheelers continue to dominate the city’s roads, followed by cars
Around 60 lakhs of vehicles using petrol in Bangalore. Petrol plays important role in Indian economy.But the rate of the petrol will never stay constant. As on Monday, July 24, 2017, the petrol cost is 65.79 Rs/Ltr, but, has moved higher by the week end to Rs 65.85 as on Friday, July 28, 2017.

 

Petrol prices in Bangalore at 65.75

Petrol prices in the city of Bangalore have been on a constant uptick since the start of July 17. On July 27 we have Bangalore prices of petrol at Rs 65.75, up from levels of 65.32 that we saw since July 17. It is likely that crude oil prices may stay steady and this could also lead to steady prices of of petrol in the city of Bangalore. The city derives its prices from international crude which have seen a rebound in the last few days and hence this has impacted prices in Bangalore as well. It is unlikely that we will see a further sharp escalation in prices of petrol and diesel in Bangalore.

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