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 (₹71.20), 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.
|Dec 18, 2018||₹ 71.20||₹ 0.10|
|Dec 17, 2018||₹ 71.10||₹ 0.19|
|Dec 16, 2018||₹ 70.91||₹ 0.00|
|Dec 15, 2018||₹ 70.91||₹ 0.05|
|Dec 14, 2018||₹ 70.86||₹ 0.00|
|Dec 13, 2018||₹ 70.86||₹ 0.11|
|Dec 12, 2018||₹ 70.75||₹ 0.00|
|Dec 11, 2018||₹ 70.75||₹ -0.10|
|Dec 10, 2018||₹ 70.85||₹ -0.24|
|Dec 9, 2018||₹ 71.09||₹ -0.15|
|Highest rate in December||Rs.73.09 on December 1st|
|Lowest Rate in December||Rs.70.75 on December 11th|
|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|
|Highest rate in July||Rs.79.36 on July 14th|
|Lowest Rate in July||Rs.76.77 on July 2nd|
|Over all performance||Rising|
|Highest rate in June||Rs.79.57 on June 1st|
|Lowest Rate in June||Rs.76.77 on June 26th|
|Over all performance||Falling|
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 increased by 20 paise to Rs 71.20 per litre. Fuel prices were hiked in the country despite a sharp fall in crude oil prices internationally. The reason for the hike is that the price fall was seen in US West Texas Intermediate (WTI), which dropped below the $50 a barrel level for the first time this year and not the international benchmark Brent. The price at which fuel is sold in India is determined by the movement in price in Brent which declined by 1 percent to $58.90 a barrel on Tuesday. The drop in prices in Brent, as well as WTI, is from growing concerns of oversupply in the market. Amid swelling inventories globally, both the benchmarks have dipped as much as 30 percent from its price in October. A weakening global economy and doubts over the impact of OPEC's planned production cuts were also pressurizing the prices.18 December 2018
Petrol price in Bangalore today was increased to Rs 71.10 per litre. Fuel prices were increased by the country's oil marketing companies amid climbing international crude oil prices. On Sunday, petrol prices were largely unchanged. They have been now eased by 15 to 20 percent from their all-time highs seen at the beginning of October as a result of a two-month downfall in international crude prices amid oversupply concerns. However, after the OPEC (Organization of Petroleum Exporting Countries) and its allies agreed to cut production by 1.2 million on 6 December, there has been a gain in international oil price benchmark Brent that lingered near the $62 a barrel level. There has been volatility in the price since, due to analyst concerns of slowing economic growth globally, especially in China, the biggest importer of crude oil in the world. After a momentary loss on Friday, Brent regained on Monday amid reports of a fall in US drilling activity to its lowest in 2 months. This resulted in an increase in fuel prices in India.17 December 2018
Petrol price in Bangalore today was scaled up by 5 paise to Rs 70.91 per litre from yesterday's rate. International prices fell on Friday at close after a fall in US stock markets and weak economic data reported by China. Being the world's biggest importer of oil, a drop in economic activity in China means lower demand amid the increased supply from OPEC and its allies. The decision taken by the members of the OPEC at their bi-annual meet on 6 December will only kick in in January, keeping the market oversupplied at present. Over the past due days, however, the decision to cut supply had dictated the marker, dragging the price down. US equity markets fell after China reported a fall in its retail sales for the month of November, which was the slowest growth in three years. This is signaling towards the effect of US-China trade war. Analysts expect volatility until January, that is when the supply cut begins. Brent crude was trading at a weekly loss of 2 percent at $60.12 a barrel.15 December 2018
Petrol price in Bangalore today was unchanged at Rs 70.86 per litre. After 4 days of rise in the international crude prices, the global benchmark Brent fell today over concerns of a slump in demand from slowing economic growth. Brent declined to $61.09 a barrel as investors await the production cuts to kick in. China, the second largest economy in the world and the biggest consumer of oil reported a slow down in retail sales and industrial output growth for the first time in years in their data released for the month of November on Friday. This highlights the risk of trade disputes with the US. The Chines oil refinery throughput also reduced in November when compared to the previous month, suggesting signs of easing demand in the country.14 December 2018
Petrol price in Bangalore today was increased by 11 paise to Rs 70.86 per litre. Cities across the country experienced a 9 to 30 paise rise in petrol price while diesel prices mostly remained unchanged. After the OPEC (Organization of Petroleum Exporting Countries) and its allies agreed to cut their output by 1.2 million barrels per day from January 2019, the international crude oil price benchmark Brent has been hovering at $60 a barrel level. A drop in the US oil stockpiles and easing trade tensions between the US and China are also supporting oil prices. China made its first major purchase of American soybeans in more than six months, signaling the beginning of settlement in trade tensions between the countries. As global prices begin to stabilize, ending their two-month decline (where Brent as much as 30 percent), fuel prices in India may begin to rise. If fuel prices start rising again, it will translate to a weaker rupee as India's trade deficit widens.13 December 2018
Petrol price in Bangalore today remained flat at Rs 70.75 per litre as international oil rates stay at $60 a barrel level. The commodity has been very volatile in the market. Despite an announcement of supply cut by the OPEC (Organisation of Petroleum Exporting Countries), the market participants are concerned if it would be enough to compensate for the oversupply. Analysts expect that the demand for oil will reduce in the first half of the next year due to slowing global economic activity. In the last week, official data from China and Japan showed a slow down in economic activity. While oversupply concerns remain, Libya reported a disruption in its exports after local militia seized the country's biggest oil field El Sharara. This, as well as renewed hopes of US-China trade talks, held the oil prices stable. US President Donald Trump said that talks with China were to diffuse the trade disputes between the two countries.12 December 2018
Petrol price in Bangalore today was lowered by 10 paise to Rs 70.75 per litre as Indian oil marketing companies continue to discount over the decline in international prices in the last two months till 6 December, that is before the OPEC bi-annual meet. After 6 December, crude oil prices have recovered after OPEC and its allies agreed to cut their supply by 1.2 million barrels per day. Benchmark Brent is now trading above the $60 a barrel level. Adding to the cut in supply, Libya's National Oil Company late on Monday declared an export disruption from El Sharara oilfield as it was seized by a local militia group. In the previous session, however, there was a 3 percent fall in the price as experts still hold a negative outlook for oil supply in the coming month due to slowdown in global economic activity (which was reported by Japan and China) and they believe that the proposed cut in production by the countries will not help in curbing the existing oversupply.11 December 2018
Petrol price in Bangalore today was reduced by 24 paise to Rs 70.85 per litre. The fuel rate was lowered in the country by oil marketing companies despite a hike in international oil prices. Global benchmark Brent crude, extended its Friday gains today by 0.9 percent to $62.21 per barrel as oil-producing alliance OPEC (Organization of Petroleum Exporting Countries) along with its allies and some non-affiliated producers agreed to cut their supply by 1.2 million barrels per day (bpd) from January 2019. The agreement was come upon late on Friday after the OPEC's biannual meet to stabilize decline oil price. The benchmark has fallen as much as $20 a barrel in the last two months, and the same extent of reduction has not been reflected in the petrol and diesel retail prices in India, which could be the reason of the reduced rate in the country once again. Meanwhile, Reuters said that analysts' outlook for next year remains muted for oil even after the production cut on the back of a global economic slowdown.10 December 2018
Petrol price in Bangalore today was lowered to Rs 71.24 per litre despite a surge in the international oil prices. Global benchmark Brent rose 2.7 percent to $61.67 a barrel late on Friday after the OPEC revised their decision from the bi-annual meet. OPEC and its allies reached an agreement to cut output next year to boost the market. The agreement comes at a time when the crude prices have plummeted to its lowest since the 2008 crisis. Concerns about oversupply, weakness in global stock markets and technical trading accelerated the slide. It was decided that the OPEC and its allies, including Russia would be cutting 1.2 million barrels per day in the first half of 2019. This is in line with analysts expectations considering that the demand growth would be lower than anticipated in the next year. It could cause the benchmark Brent to rise back to its $70 a barrel rate, which would mean retail prices of fuel in India will start rising again.8 December 2018
Petrol price in Bangalore today was reduced by 41 paise to Rs 71.46 per litre after the OPEC meeting did not come out with a clear decision, keeping production unchanged for the first time in many years. While Saudi Arabia, the de facto leader of the Organization of Petroleum Exporting Countries agreed to cut it supply, its ally, Russia refused to get onboard. The decision has been delayed until Moscow comes with a number they agree to. The output capping was decided in 2017 before, to help curb the decline in oil prices that year but the OPEC and its alliance had to reverse it after the unexpected free fall in Venezuelan output and supply disruptions from Libya. Crude price hit new highs, making petrol and diesel retail prices the most expensive ever. It was later decided in the interest of the customers to gradually increase the supply which was led by Saudi Arabia and the US.7 December 2018