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Petrol Price in Chennai (21st September 2018)

Petrol prices in Chennai 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 Chennai (₹85.48), 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 Chennai 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.

Sep 20, 2018
₹ 85.48 /Ltr (₹ 0.07 )
(Applicable from 6 am) Diesel Price in Chennai

Last 10 Days Petrol Rate in Chennai

Date Price Price Change
Sep 19, 2018 ₹ 85.41 ₹ 0.00
Sep 18, 2018 ₹ 85.41 ₹ 0.10
Sep 17, 2018 ₹ 85.31 ₹ 0.16
Sep 16, 2018 ₹ 85.15 ₹ 0.30
Sep 15, 2018 ₹ 84.85 ₹ 0.36
Sep 14, 2018 ₹ 84.49 ₹ 0.30
Sep 13, 2018 ₹ 84.19 ₹ 0.14
Sep 12, 2018 ₹ 84.05 ₹ 0.00
Sep 11, 2018 ₹ 84.05 ₹ 0.14
Sep 10, 2018 ₹ 83.91 ₹ 0.25

Daily & Monthly Petrol Price in Chennai : Graphical Representation

Historical Petrol Price in Chennai

  • Trend of Petrol Rate in Chennai, August 2018
  • Petrol Price
    1 st August Rs.79.26
    31st August Rs.81.59
    Highest rate in August Rs.81.59 on August 4
    Lowest Rate in August Rs.79.26 on August 1
    Over all performance Rising
    % Change +2.86%
  • Trend of Petrol Rate in Chennai, July 2018
  • Trend of Petrol Rate in Chennai, June 2018
  • Trend of Petrol Rate in Chennai, May 2018
  • Trend of Petrol Rate in Chennai, April 2018
  • Trend of Petrol Rate in Chennai, March 2018

Petrol prices are changing everyday in Chennai against the earlier practice of revising prices once in 15 days. So, if you are looking to fill petrol everyday now, you should look at today's petrol prices in Chennai. Therefore, it would be important to check the daily petrol prices at goodreturns.in.

Daily Petrol Price Revise in Chennai 

In fact, petrol prices would now be revised at 6 am in the morning. So, before you leave for work, it would be advisable to look for a change in petrol prices daily in Chennai. It is likely that the daily revision in petrol prices would be only for a few paise. However, if you are also filling large amounts, a small revision could also mean a lot. It therefore becomes imperative to check the daily petrol prices in Chennai, before you fill petrol in your vehicles. Remember, these prices are revised largely based on what the situation in the global markets is. So, when international crude oil prices jump, petrol prices in Chennai too rally. You can now check the daily petrol prices in Chennai on our website.

Why Petrol Rates in Chennai Change Everyday

The petrol rates in Chennai is changing every day. This is due to change of the petrol prices in the global Markets. There is no production of petrol in India. So India needs to import it, and for importing crude, we need to pay for it. So depending upon the various factors demand for the oil and importing charges, export charges and much more the petrol price in Chennai is fixed.

Demand for the petrol is day by day increasing the number of the vehicle are increasing. If we see, the statistics the number of vehicles increased with the increase in the population. Top oil companies such as Indian oil take various aspects such as duties and charges into consideration and give a new price every day. Within the state for every different city, the price will be slightly different due to various tolls and charges.

Petrol Rates in Chennai

The petrol price in India used to change monthly twice from first and sixteenth of every month. This is when oil companies were facing difficulties to change the price due to various issues. However, now we have petrol rates in Chennai changing on a daily basis. This is called dynamic fuel pricing. The increase and decrease of the petrol price in Chennai will now depend on the crude oil price in the international market. Now moving a step ahead The Indian oil corporation introduced a new app called FUEL@IOC. It helps to know the current petrol rates. If we observe the petrol price in Chennai from last four days, petrol prices were Rs. 67.78, 67.51, 67.37, 67.18. and today the petrol price in Chennai is 67.71.

Petrol prices steady in Chennai

 Petrol prices saw some change in Chennai on Friday as compared to Thursday, as global petrol prices were higher.
 Indian oil companies have introduced many methods to check daily petrol prices daily at morning 6 am.
 Buyers can check the prices through SMS alerts, oil companies mobile apps, websites and toll-free phone numbers.
 Buyers can type RSPDEALER CODE, and send to 9224992249.
 For Indian Oil- 9224992249, Bharat Petroleum-9223112222, Hindustan Petroleum-9222201122.
 The information also will available on company websites and mobile apps, like Fuel@IOC, Smart Drive (BPCL), and My HP CL.
 Yesterday, the petrol price in Chennai was Rs.68.02, and today it was Rs.68.32, a slight change in petrol price.

How todays petrol rates in Chennai are infuenced 

Todays petrol rates in Chennai depend on a host of factors. Among these include the behaviour of crude oil in the global markets and also the movement of the currency. For example, when the rupee falls against the dollar, it becomes very expensive to import crude oil and this reflects on prices of crude. There has been a trend of increasing crude oil prices, which have moved higher from levels of $55 to the current levels of $60. This has led to prices of petrol in Chennai moving way above the Rs 70 mark. 

When this happens it leads to increase in prices of all commodities as petrol is needed for transportation. However, it is better to frequently check prices as this may save you money if you are especially filling large amounts of petrol in your vehicle.  

Why petrol prices in Chennai are high?

In the past, the petrol prices in the country were centralized and changed every fortnight. These days, thanks to a myriad of changes in the political situation in the country, dynamic pricing has been introduced and due to that the prices change every day.

As all of us are well aware, petrol prices in India is something on which both the central and the state government levy their taxes. In fact this is the reason for the current variation in the price of petrol in different areas of the country. In the case of Chennai, there has been an increase in the state tax and this has consequently impacted the price of petrol in the area. That is why although the price of petrol in Chennai in the last month was Rs. 75.07, with effect from the 27th of March it has reached an all time high of Rs 75.66. At this point it is to be noted that the average petrol price in the country last month was Rs 74.26 and that the figures in Chennai were always a tad bit higher as compared to the values at other metros.

One of the other reasons for the sudden rise of the petrol prices in Chennai is, of course, the impact of the global scene. The increase in the global crude oil price was bound to have an impact on the rate in Chennai. With economists predicting these values to rise in the coming months we can only hope that Chennai is able to bear the brunt of it all.

Petrol price in Chennai hiked by 7 paise

Petrol price in Chennai today was increased by 6 paise to Rs 85.48 per litre. Fuel rates in the country climbed from global cues. Internationally, crude oil supply has become a crisis due to the upcoming sanctions by the US on Iran, the third largest supplier of oil among the OPEC (organization of petroleum exporting countries). If the other members do not increase the supply to match the loss that will be felt soon, the prices will keep rallying. The OPEC has up till now not been able to completely compensate for the cut down from Venezuela.

India will also be affected by the sanctions as it's major supplier is Iran and to maintain good relations with the US, it will have to support the intentions behind the sanctions. Additionally, some countries like China have already stopped receiving oil from Iran, in fact, their import of crude oil overall has been falling, raising concerns that this could mean that the demand for it is falling globally.

20 September 2018
Petrol price in Chennai stable

Petrol price in Chennai today was parked at Rs 85.41 per litre, unchanged from yesterday's retail rate. Fuel rates across the country remained steady for the day owing to the global market trend when benchmark Brent was marginally up by 2 cents to $79.5 a barrel.

The global benchmark is edging closer to the psychological mark of $80/barrel which is not good news for consumers at all levels. The last time the oil rates crossed $80 a barrel rate, petrol and diesel prices hit new lifetime highs. 

As the rates are currently much higher than the ones recorded across the cities in the month of May, it will be burdensome to users in India, especially the common man. The only beneficiaries would be the state governments that derive a revenue as a percent of the petrol and diesel price. The central govt, on the other hand, gets a fixed excise duty rate on the price per litre.

19 September 2018
Petrol price in Chennai increased by 10 paise

Petrol price in Chennai today was hiked by 10 paise per litre to Rs 85.41. For over a month now, fuel prices in the country have been relentlessly rising due to international fuel price rise owing to factors the shortage in the crude supply in the global market. May onwards, the world's oil output fell after production was hit in Venezuela and some parts of Libya. The OPEC lost a major arm and prices increased. This followed the OPEC's decision to increase production to control rates, which was soon followed by the imposition of sanctions by the US on Iran.

Iran is the third largest producer in the OPEC, which means that not buying from it would reduce the number of oil sources further. The previously decide hike from the OPEC will now not make up for the shortage.

18 September 2018
Petrol price in Chennai past Rs 85-mark

Petrol price in Chennai today was increased to Rs 85.31 per litre. Fuel prices across the country have not seen a day of decline since 15 August. 4 states have cut state taxes on fuel up till now but Tamil Nadu isn't one of them.
Meanwhile, in the global market, oil prices edged up. Benchmark Brent was up by 68 cents to $78.77 per barrel and US West Texas Intermediate (WTI) futures rose by 47 cents to $69.46 a barrel. This rise was after a slight drop in the morning session.
The reason for rise, analysts say, was the lack of confidence in the assurance given by the US that its increased production of crude along with Saudi Arabia and Russia will make up for the loss from Iran and other suppliers.
This year, the world has seen a massive fall in the production from Venezuela. Iran, the third largest member of Organization of the Petroleum Exporting Countries (OPEC), that is being gradually pushed out of the importer list of many countries including India due to US sanctions will make the global supply of crude more scarce than before.

17 September 2018
Petrol price in Chennai raised once again

Petrol price in Chennai today was raised again to Rs 84.85 per litre. Fuel prices in the country have been soaring higher with each passing day triggered by the worries over sanctions on Iran in the global market. The prices for fuel in the city is soaring to new all-time highs as the international benchmark edges closer to the $80 per barrel mark. On Friday however, Brent fell by 5 cents to $78.12 per barrel due to the additional tariffs to be imposed on Chinese imports by the US government. Investors in the oil markets are skeptical about the growth in oil demand following the imposition of tariffs. If China's economic growth rate following the tariffs, the demand for oil will fall and this would mean a big change as the country is one of the biggest consumers of fuel.
Additionally, the US president Trump as warned of consequences if countries could trading with Iran past November, which is a big change for India, which imports a large share of its oil demand from the country.

15 September 2018
Petrol price in Chennai soars to new all-time high

Petrol price in Chennai today was increased to Rs 84.49 per litre. Fuel prices in the country have been rallying to new highs with every passing day due to the rise in international rates. As supply concerns over oil loomed in the global market ahead of the November deadline for US sanctions on Iranian crude, the benchmark Brent crude was up by 5 cents to $78.23 a barrel. As Brent nears the $80/barrel mark, the concerns of rise in fuel prices continue in the country where consumers now pay close to half of the retail price as taxes in the form of excise duty, state VAT (value added tax), additional state taxes, ces, and surcharge.

The United States president Donald Trump has made clear from his comments today that the sanctions on Iran would not be withdrawn. India gets it major share of oil imports from Iran and following the issue of sanctions, it will cut its imports by half starting October.

14 September 2018
Petrol price in Chennai stable

Petrol price in Chennai today remained unchanged at Rs 84.05 per litre. Fuel price across cities in India remained stable ahead of Ganesh Chaturthi despite an increase in international crude oil rates. On a global scale, benchmark Brent futures were up by 15 cents nearing closer to $80 a barrel. It was trading at $79.21 per barrel after touching a peak of $79.66 a barrel in session today.

Despite strong opposition on the taxes imposed by the state and central government, the centre indicated that it had no plans to reduce excise duty imposed on the petroleum products because of the revenue they bring. Three states that is, Rajasthan, Andhra Pradesh and West Bengal, however, reduced the VAT (value added tax) imposed the retail price of petrol and diesel by the state governments.

The residents of the city could stand to benefit if the state of Karnataka reduces state taxes or fuel comes under the radar of GST (goods and service tax).

12 September 2018
Petrol price in Chennai crosses Rs 84 per litre

Petrol price in Chennai today was raised to Rs 84.05 per litre. Fuel rates in the country have not seen a day of decline since 15 August, pressuring the rupee and the government over the widening current account deficit. A PTI report stated that the central government is not going to provide any relief in excise duty as it cannot afford to lose on revenues from petroleum products that make up for a major portion of its income. Some states, however, have stepped up to reduce the VAT (value added tax) and other additional taxes imposed on petrol and diesel. It started with Rajasthan that reduced VAT by 4 percent, followed by Andhra Pradesh government that reduced the additional tax by Rs 2. The West Bengal government today announced a Re 1 cut on fuel prices. The Tamil Nadu government hasn't taken up any initiative yet. The relief could probably have to be expected from a fall in the international rates.

11 September 2018
Petrol price in Chennai raised

Petrol price in Chennai today was raised once again to a new all-time high of Rs 83.91 per litre as the Indian rupee touches a new record low of 72.67 against the US dollar. International crude prices climbed on Monday as U.S. energy companies cut two oil rigs last week and fears of sanctions on Iranian oil exports loomed. Benchmark Brent was trading higher at $77.25 a barrel in morning trade.

Additionally, there is excise duty, sales tax, value added taxes, cess and surcharges imposed on these rates by the central and state government. VAT paid by consumers on final retail price is the highest for petrol in Mumbai at 39.12 percent and for diesel in Telangana at 26 percent. The central government charges an excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel.

The burden of the rupee's fall as well as the taxes are all borne by the common consumers.

10 September 2018
Petrol price in Chennai raised by 41 paise

Petrol price in Chennai today was increased to Rs 83.54 per litre. It has not seen a day of fall since 15 August but no relief has been provided by the government on the heavy taxes imposed on it that could reduce the burden on consumers. This is primarily because the state and union government funds its major projects from the revenue received from these taxes.

State VAT (value added tax) being the price differentiating factor for the pricing across states is at 32.16 percent for petrol in Tamil Nadu. Petroleum products have not come under that tax system of GST (goods and service tax) yet.

Meanwhile, the rise in crude oil prices that started in August will soon make India's import bill larger and the current account deficit (CAD) that was reported at 2.4 percent of the GDP for the April-June quarter on Friday could widen to 2.6 percent. Apart from that, the added pressure of weakness in the rupee valuation could push the price of consumer goods higher in the coming months as manufacturers pass on the burden on to customers.

 

8 September 2018

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