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 (₹82.08), 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.
|Oct 21, 2018||₹ 82.38||₹ -0.26|
|Oct 20, 2018||₹ 82.64||₹ -0.39|
|Oct 19, 2018||₹ 83.03||₹ -0.24|
|Oct 18, 2018||₹ 83.27||₹ -0.22|
|Oct 17, 2018||₹ 83.49||₹ 0.00|
|Oct 16, 2018||₹ 83.49||₹ 0.12|
|Oct 15, 2018||₹ 83.37||₹ 0.00|
|Oct 14, 2018||₹ 83.37||₹ 0.06|
|Oct 13, 2018||₹ 83.31||₹ 0.18|
|Oct 12, 2018||₹ 83.13||₹ 0.12|
|1 st September||Rs.81.27|
|Highest rate in September||Rs.84.74 on September 2|
|Lowest Rate in September||Rs.81.27 on September 1|
|Over all performance||Rising|
|1 st August||Rs.78.77|
|Highest rate in August||Rs.81.07 on August 2|
|Lowest Rate in August||Rs.78.69 on August 2|
|Over all performance||Rising|
|1 st July||Rs.76.77|
|Highest rate in July||Rs.79.36 on July 13|
|Lowest Rate in July||Rs.76.77 on July 2|
|Over all performance||Rising|
|1 st June||Rs.79.57|
|Highest rate in June||Rs.79.57 on June 1|
|Lowest Rate in June||Rs.76.77 on June 4|
|Over all performance||Falling|
|1 st May||Rs.75.82|
|Highest rate in May||Rs.79.71 on May 29|
|Lowest Rate in May||Rs.75.82 on May 6|
|Over all performance||Rising|
|1 st April||Rs.74.90|
|Highest rate in April||Rs.75.82 on April 5|
|Lowest Rate in April||Rs.74.90 on April 1|
|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 reduced to Rs 82.08 per litre. This was the fifth straight day of decline in fuel prices in the country. The rates are being reduced due to the drop in international crude prices. Global benchmark Brent fell by 27 cents tumbling below the $80/barrel mark, two weeks before the US sanctions on Iranian imports kick in because Saudi Arabia pledged to increase its oil production to a record. Saudi energy minister Khalid al-Falih told Russia's TASS news agency that his country would soon raise output to 11 million barrels per day (bpd) from the current 10.7 million, to compensate for the loss from Iran. The sanctions on Iran are scheduled for 4 November. Analysts believe that this could put anything up to 1.5 million bpd in supply at risk. Though Saudi, the biggest oil producer in the world has stepped up, the real impact of the change will only be felt after a month of the sanctions.22 October 2018
Petrol price in Bangalore today was lowered to Rs 82.64 per litre as a much-needed relief on fuel prices continues. The fall will be especially appreciated by consumers of fuel across the country because of the festivities. Retail rates of these petroleum products in India are set at 6 am every morning based on international crude oil prices. In the months of August and September, fuel rates soared to new all-time highs, pressurizing the expenses of daily commuters. Some state governments came forward to reduce the burden of consumers by reducing the state-based taxes on these products and on 4 October, the union government announced a reduction of Rs 2.50 per litre on petrol as well as diesel. In the international markets, the oil prices experienced its second weekly fall due to swelling US inventories and concerns that the trade wars would curb economic activities.20 October 2018
Petrol price in Bangalore today was increased by 25 paise to Rs 84.40 a litre from Rs 84.15. Even after the Karnataka government provided relief to its residents on state taxes, the consumers continue to bear the burden of higher fuel rates because of the surging international crude oil rates increasing and the higher foreign exchange currency valuation. Last week, Minister of petroleum and natural gas, Dharmendra Pradhan, said that the reduction in taxes would not help the consumers to a great extent because of the volatility of crude prices. Global benchmark Brent rose to its four-year high on Monday to $83.27 a barrel, owing to the tensions from the US sanctions on Iran that will be effective from 4 November. As the date approaches, major consumers of Iranian crude like India and China are reducing their imports from the country, putting pressure on the global supply. ANZ bank said, "the market is eyeing oil prices at $100 per barrel."1 October 2018
Petrol price in Bangalore today was raised to Rs 84.06 per litre after a 19 paise hike. Fuel prices in the country haven't seen a day of fall since 15 August 2018, causing a Rs 5 per litre hike in petrol rates in the period. Petroleum Minister Dharmendra Pradhan said that reduction in taxes in these petroleum products wouldn't really help the consumers in the long run as these prices are being raised due to the surging international crude rates and the conditions of the oil market still remain volatile. On Friday alone, Brent crude future rose by over 1 percent to hit $82.87/ barrel during the session, its highest since November 2014. The rates are climbing due to the market's reaction to approaching deadline over US sanctions on Iran. The sanctions are set to kick-in in the month of November, and the Trump administration has demanded the importers of Iranian oil to cut their imports to zero. This will, in turn, reduce the global oil supply, as the OPEC (Organisation of Petroleum Exporting Countries) has also not agreed to increase their outputs, as of their last meeting on 23 September.29 September 2018
Petrol price in Bangalore today was up by 22 paise to Rs 83.88 per litre. The rise in fuel prices seems relentless as global rates continue to stay high over concerns of US sanctions on Iran and the Indian government's refusal to slash taxes imposed on petroleum products. Although the Karnataka government has given a relief on VAT (value added tax) in the state, it cannot provide support for too long as India is highly dependent on imports for its domestic supply for oil. The local prices are therefore largely a consequence of a change in international rates. Benchmark Brent was up by 20 cents to $81.92 a barrel, as the sanctions continue to weigh on investor sentiments. The expectation is that an increase in production from Saudi Arabia could bring some relief. A Reuters report suggested that there was a possibility the Saudi Arabia, along with some OPEC (Organisation of Petroleum Exporting Countries) would increase the production by about 500,000 barrels per day (bpd).28 September 2018
Petrol price in Bangalore today was hiked to Rs 83.66 per litre. The rates were raised after a day of halt. Fuel prices are revised every single day at 6 am by the state-owned oil retailers that make up for over 90 percent of the supply in the country. The hike was a result of a sharp 1 percent increase in crude oil price today. Benchmark Brent has been relentlessly rising over the past five weeks over concerns of shortage in global supply after the US sanctions on Iran become effective in November. Many of Iran's imports including India have been gradually reducing the quantum of imports from them. The OPEC (Organization of the Petroleum Exporting Countries) has also refused to increase their production, putting further pressure on the supply constraints. Brent was up by 59 cents to $81.38 a barrel. As long as the crude rates continue to rise, there will be no relief in the price of petrol in the country where consumers already pay a hefty percentage of tax on it.27 September 2018
Petrol price in Bangalore today was unchanged at Rs 83.52 per litre. Fuel prices in the country remained stable in most cities across the country despite the rise in international rates. Benchmark Brent was up by 10 cents to $81.87 a barrel after a 0.1 percent rise. While the international markets are expecting a drop in supply on a global scale due to the US sanctions that are to be imposed on Iranian imports, the oil retailers in India are reportedly optimizing their inventory to control price rise. India will have to reduce its oil import from Iran, its largest supplier to zero by November like many countries, due to the pressure from the US and widening current account deficit. While the refineries are looking at other suppliers, they are trying to meet demands with existing inventory so as to not alarm the consumers with rising fuel rates. This seems to be the reason behind the stability in the petrol price in Bangalore today.26 September 2018
Petrol price in Bangalore today was increased to Rs 83.52 per litre as international benchmark Brent was parked at $80.45 a barrel, the highest since November 2014.
The oil prices are rising due to the looming tensions over US sanctions on Iranian imports starting 4 November. The Trump administration has been pressurizing governments and countries around the world to cut its purchases from Iran. US President Trump also demanded the OPEC (Organization of the Petroleum Exporting Countries) to increase its supply to compensate for the shortage from Tehran. Iran is the third largest oil producer among OPEC.
Then on Sunday, despite Trump's demand, the OPEC after a meeting with its allies in Algeria announced that it would not increase its output unless the customers' demand for cargoes increases.
Britain, China, France, Germany, Russia and Iran on Tuesday said they were determined to develop payment mechanisms to continue trading despite the sanctions by the US, but analysts expect the sanctions to knock between 1 million and 1.5 million barrels per day (bpd) of crude oil supplies out of the global market.25 September 2018
Petrol price in Bangalore today was raised to Rs 83.37 per litre as international crude oil rates breach $80 a barrel mark. Global benchmark Brent was priced at $80.71 a barrel, its highest ever since 2014. It has rallied from $71 a barrel in five week's time. In London, the oil futures rose by 2.6 percent and expects fear that prices could cross $100 a barrel in the coming days.
Despite demands from the US president Donald Trump to increase the output, the OPEC (Organization of Petroleum Exporting Countries) and non-OPEC oil producers in their meet on Sunday in Algeria decided to refrain from making any urgent increase in production. They said that the output would only be increased if customers demanded more cargoes.
The prices when shooting on concerns over the US sanction on Iranian crude that is a major export product for most countries in the world including India. The world will be facing a deficit of its supply starting November, when countries will stop importing from third biggest OPEC supplier, pulling pressure on the existing oil exporters.24 September 2018
Petrol price in Bangalore today was hiked to Rs 83.09 per litre. The fuel rates in the country have been relentlessly rising, seeing no sign of help from the international bodies or the Indian government. The Karnataka state government, however, proved a relief of Rs 2 per litre to its residents last week.
In the international market, n Friday, the fuel rates fluctuated sharply where the rates were seen shooting past $80 mark after analysts told CNBC that it was highly unlikely that the OPEC would decide to increase their oil production in its meeting that is set on Sunday in Algeria. Soon another report from Reuters followed that said that the 15-nation OPEC are discussing a potential increase of 500,000 barrels a day. The price however settled at $80.12 a barrel at the close, not lowering much. The decision that will be taken on Sunday would decide the rates for the next week.