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Petrol Price in Chennai (22nd March 2019)

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 (₹75.52), 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.

Mar 21, 2019
₹ 75.52 /Ltr ( ₹ -0.07 )

Last 10 Days Petrol Rate in Chennai

Date Price Price Change
Mar 20, 2019 ₹ 75.59 ₹ -0.01
Mar 19, 2019 ₹ 75.60 ₹ 0.01
Mar 18, 2019 ₹ 75.59 ₹ 0.07
Mar 17, 2019 ₹ 75.52 ₹ 0.09
Mar 16, 2019 ₹ 75.43 ₹ 0.08
Mar 15, 2019 ₹ 75.35 ₹ 0.08
Mar 14, 2019 ₹ 75.27 ₹ 0.07
Mar 13, 2019 ₹ 75.20 ₹ 0.00
Mar 12, 2019 ₹ 75.20 ₹ -0.05
Mar 11, 2019 ₹ 75.25 ₹ 0.06

Daily & Monthly Petrol Price in Chennai : Graphical Representation

Historical Petrol Price in Chennai

  • Trend of Petrol Rate in Chennai, March 2019
  • Petrol Price
    1st March Rs.74.57
    31st March Rs.75.52
    Highest rate in March Rs.75.60 on March 19th
    Lowest Rate in March Rs.74.57 on March 1st
    Over all performance Rising
    % Change +1.26%
  • Trend of Petrol Rate in Chennai, February 2019
  • Trend of Petrol Rate in Chennai, January 2019
  • Trend of Petrol Rate in Chennai, December 2018
  • Trend of Petrol Rate in Chennai, November 2018
  • Trend of Petrol Rate in Chennai, October 2018
  • Trend of Petrol Rate in Chennai, September 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 cut

Petrol price in Chennai today was reduced by 7 paise to Rs 75.52 per litre.

The fuel's rates were reduced despite an increase in international rates to their 2019 highs. Supported by the tightening of US stocks and reduced output from OPEC due to scheduled cuts and sanctions on Venezuela and Iran has pushed the oil rates higher. Benchmark Brent crude oil futures were up by 5 cents to $68.55 a barrel while the US West Texas Intermediate was down by 13 cents to $60.10 per barrel. India imports crude oil from the USA as well as the Middle East. Apart from the global rate of crude, the foreign exchange rate also impacts the price at which fuel is sold in India. With rupee sailing strong for nearly two weeks, it is likely that the fall in petrol price in Chennai today was a result of it.

21 March 2019
Petrol price in Chennai remains stable

Petrol price in Chennai today was unchanged at Rs 75.60 per litre on firm global cues. The international oil prices climbed marginally from supply cuts from the OPEC and US sanctions on Venezuelan and Iranian exports. The climb was curbed by the concerns of an economic slowdown around the globe. Benchmark Brent crude oil futures rose by 18 cents or 0.3 percent to $67.79 a barrel when compared to their last close. US WTI increased marginally by 6 cents to $ 59.09 per barrel. The global rates have increased by almost a third in 2019 mainly due to OPEC's decision to withhold around 1.2 million barrels per day. Analysts are expecting the prices to curb down from the suspected global economic slowdown. On Wednesday, a Thomson Reuters/INSEAD survey found that Asian business confidence held near three-year lows in the first quarter from the US-China trade dispute that was dragged on.

20 March 2019
Petrol price in Chennai unchanged

Petrol price in Chennai today remained at Rs 75.60 per litre as international oil prices slipped from their four-month highs on Tuesday, but still hovered near their 2019 peaks as supply cuts led by producer club OPEC remain. Sanctions against oil producers Iran and Venezuela from the US are also adding pressure to the crude prices. Traders feel that the market may be being capped by the rising American output. Global benchmark Brent crude oil futures were was down by 4 cents at $67.50 per barrel. Earlier today it rose to a four-month high of $68.20 a barrel. US West Texas Intermediate (WTI) futures for April delivery dropped 25 cents to $58.84 per barrel, after hitting an intraday peak at $59.57, its highest level since 12 November. Petrol price in Chennai is set based on the average of the fuel prices for 15 days and the exchange rate of the rupee. The Indian rupee rose for the seventh straight trading session today.

19 March 2019
Petrol price in Chennai edges up

Petrol price in Chennai today was increased by 7 paise to Rs 75.59 per litre. The retail prices of fuel were raised across Indian cities despite a fall in crude prices internationally. In the global markets, benchmark Brent fell by 26 cents to $ 66.90 a barrel from concerns of an economic slowdown that could possibly dent demand for fuel and despite the possibility of prolonged OPEC-led oil supply curbs. After a report said the OPEC's panel meeting on Monday to review progress with an OPEC-led supply cut deal is recommending the producers cancel a policy meeting that was scheduled for April, caused the prices to go lower. While Saudi Arabia, OPEC's de-facto leader has been cutting output by more than the amount it is required to and after canceling the April meeting, it is suggesting its unwillingness by other OPEC and non-OPEC producers to do anything to stop prices from rising. However, the increase in oil outputs from the United States has helped to offset the supply cuts.

18 March 2019
Petrol price in Chennai climbs

Petrol price in Chennai today was increased to Rs 75.43 per litre despite a fall in international crude oil rates. The global benchmarks, Brent and US West Texas Intermediate fell to $67 and $58.42 a barrel respectively from worries of a global economic slowdown and reduced US production. At the end of last year, the OPEC and its allies had agreed to cut their production in order to stabilize the oil prices. However, the threat of a slowdown in economic activities has increased largely between then and now especially after China reduced its growth projections and increased risk of the bad Brexit deal. Traders are concerned that the demand for oil in parts of Europe and Asia would not rise if not lower. The increase in US shale output also added to the factors that caused the rates to fall. Petrol price in Chennai was however not lowered in reflection to the change in global rates.

16 March 2019
Petrol price in Chennai soares

Petrol price in Chennai today rose to Rs 75.35 per litre despite a fall in the international prices and a stronger rupee. In the global market, both the oil benchmarks fell. While the US West Texas Intermediate (WTI) crude oil futures dipped 48 cents to $58.13 per barrel after having hit their highest so far this year at $58.95. Brent crude oil futures were trading at $66.51 per barrel, down by 72 cents from their last settlement and below their 2019 peak of $68.14 that it reached on Thursday. The Organization of the Petroleum Exporting Countries and its allies that include Russia had cut its production as planned in December. The prices have still been cushioning because of the concerns of a global slowdown once again. There are concerns among traders of an economic slowdown that has gripped large parts of Asia and Europe (especially after Brexit) that will dent growth in fuel demand.

15 March 2019
Petrol price in Chennai raised

Petrol price in Chennai today was increased to Rs 75.27 per litre after international oil prices rose to its highest level for this year. Unexpected production disruptions added to the ongoing planned supply cuts from the OPEC (Organisation of Petroleum Exporting Countries) and sanctions from the US on Iran and Venezuela. Benchmark Brent crude futures rose to a 2019 high of $67.80 per barrel. It was also its strongest level since November 2018. US West Texas Intermediate (WTI) crude futures were up by 12 cents to $58.38 a barrel. An unexpected fall in the US oil inventories and production pushed the rates higher. Additionally, the massive blackout from the economic and political crisis in Venezuela has caused production and export disruption in the country. Iran's crude exports are being sought to be actively cut by the US who aims to reduce it by 20 percent to below 1 million barrels per day. By imposing sanctions Iranian imports, it aims at reducing the amount of oil that Iran's customers are currently purchasing.

14 March 2019
Petrol price in Chennai halted

Petrol price in Chennai today was unchanged at Rs 75.20 per litre despite a rise in international oil prices due to reduced US inventories and sanctions as well as stalled exports from Venezuela. Benchmark Brent crude oil futures were up by 70 cents or 1.05 percent to $67.37 a barrel from their last close while US West Texas Intermediate (WTI) crude futures were $1.12 or 2 percent to $57.99 per barrel. The Energy Information Administration said that U.S. crude inventories fell by 3.9 million barrels last week. Additionally, Saudi Energy Minister Khalid al-Falih said on Sunday that there are no plans to increase production by the OPEC and the production-curbing agreement would likely last until at least June. Venezuela’s worst blackout on record that has left most of the country without power for six days, has also left exports from the country’s main oil terminal stranded. Petrol price in Chennai, however, was surprisingly unchanged.

13 March 2019
Petrol price in Chennai declines

Petrol price in Chennai today reduced to Rs 75.20 per litre. The retail price of fuel was reduced by the Indian state-owned oil marketing despite an increase in global prices. International benchmark for crude Brent rose by 70 cents to $67.28 a barrel while US WTI was up by 57 cents to $57.36. The upward movement was on account of the voluntary output cut that Saudi Arabia is planning on for the month of April to control prices according to a statement by one of the country's official. Additionally, a further cut in supply comes after a massive power outage in Venezuela is also hampering the country’s oil exports. On the other hand, a fall in the petrol price in Chennai could be due to a rise in the rupee value for the last four session including today.

12 March 2019
Petrol price in Chennai inches higher

Petrol price in Chennai today increased to Rs 75.25 per litre on global cues. The two international oil benchmark indices gained after the comments from the Saudi Arabian oil minister that indicated there the supply cuts from the OPEC are likely to not get revised until the body's next bi-annual meet scheduled for June. Additionally, a report showed that the number of rigs drilling for new oil production in the United States dropped by nine to 834. Tight supplies from the OPEC and the US, the biggest oil producers in the world pushed Brent crude futures higher to $65.02 a barrel and US West Texas Intermediate (WTI) to $56.36 per barrel. The petrol price in Chennai though presently being held higher by the international changes has not been as fluctuating as the global crude rates, indicating involvement in government authorities asking not to make the change, according to an IANS report.

11 March 2019

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