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Petrol Price in Chennai (26th November 2020)

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 ₹ 84.74 (26th November 2020), 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.

Nov 26, 2020
₹ 84.74 /Ltr ( ₹ -0.04 )

Last 10 Days Petrol Rate in Chennai

Date Price Price Change
Nov 25, 2020 ₹ 84.78 ₹ 0.14
Nov 24, 2020 ₹ 84.64 ₹ 0.05
Nov 23, 2020 ₹ 84.59 ₹ 0.06
Nov 22, 2020 ₹ 84.53 ₹ 0.07
Nov 21, 2020 ₹ 84.46 ₹ 0.01
Nov 20, 2020 ₹ 84.45 ₹ 0.31
Nov 19, 2020 ₹ 84.14 ₹ 0.00
Nov 18, 2020 ₹ 84.14 ₹ -0.13
Nov 17, 2020 ₹ 84.27 ₹ 0.13
Nov 16, 2020 ₹ 84.14 ₹ 0.00

Daily & Monthly Petrol Price in Chennai : Graphical Representation

Historical Petrol Price in Chennai

  • Trend of Petrol Rate in Chennai, November 2020
  • Petrol Price
    1st November Rs.84.14
    26th November Rs.84.74
    Highest rate in November Rs.84.78 on November 25th
    Lowest Rate in November Rs.84.14 on November 1st
    Over all performance Rising
    % Change +0.71%
  • Trend of Petrol Rate in Chennai, October 2020
  • Trend of Petrol Rate in Chennai, September 2020
  • Trend of Petrol Rate in Chennai, August 2020
  • Trend of Petrol Rate in Chennai, July 2020
  • Trend of Petrol Rate in Chennai, June 2020
  • Trend of Petrol Rate in Chennai, May 2020

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. 

Petrol prices steady in Chennai

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.

How todays petrol rates in Chennai are influenced 

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 below $40. This has led to prices of petrol in Chennai as above mentioned on the table. 

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 do 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. 

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.

How Petrol Prices Are Calculated In Chennai?

Some key components that determine the retail selling price (RSP) of petrol in Chennai are: price of crude oil, the price of the refinery, the commission of the distributor, the profit margin of OMCs, the state VAT levied on petrol and the excise duty levied on petrol. Crude oil is traded in the US Dollar worldwide. The price of oil is driven by global supplies and resources, consumption and requirement from the major countries, periodic fluctuations, environmental conditions, and USD exchange rate against global currencies. Domestically, refinery costs vary, this are the costs that oil manufacturing firms bear in transforming crude oil into petrol.

Then, Oil Marketing Companies (OMCs) implement a certain percentage of net profit margin on a litre of petrol supplied on retail distributors. The rates offered to distributors of retail petrol are then levied by the state as well as central governments. The central excise duty appears the same across all regions of the country, as well as Chennai, mostly on price structure of petrol and the structure of State-level Value Added Tax (VAT) for the petroleum products varies from state to state. Another element that can gently change from dealer to dealer in Chennai as well as other metropolitan cities is the dealer's profit which is assessed by the distance between the supply stations and retail petrol pumps. The dealer’s commission varies for petrol and diesel as well as the location of the fuel stations. 

Tax Structure For Petroleum Products in Tamil Nadu

The state's petrol and diesel prices are expected to increase and the rise is a sequel to reforms introduced by the state government in the petroleum products tax regime. The state-level Value Added Tax ( VAT) system for petroleum products has been modified in May, 2020 from a simple ad valorem tax rate into a blend of volume and actual tax rate. Regarding petrol, the structure has been modified from 34% to 15%, also with respect to diesel, the sum is 11% from 25% presently. The reforms were made in consideration of a decline in retail selling rates to be conducted out by the Central Authorities in the coming days. The implementation of the current rate structure in case of decline would result in a "severe decline" in state government revenue. Hence, this would affect both the middle class and the poor at a time when critical commodity prices were on the surge. 

Check Daily Petrol and Diesel Prices Of Chennai Through These Apps

Petrol and diesel rates keeps changing on a daily basis and finding the right fuel price is believed to be a challenge as the main issue in people's minds is how to check the correct fuel price of Chennai or any other particular city of India.  However, numerous oil and gas firms such as Indian Oil, Bharat Petroleum and Hindustan Petroleum have lead to different methods of keeping a menu on evolving fuel costs, and simplest way to track the rate changes is by installing mobile apps through which fuel consumers of India can easily track the correct petrol and diesel rates on their go. The petrol and diesel rates of all metro cities such as Mumbai, Delhi, Kolkata, Bengaluru, Chandigarh and more had started the mechanism of Dynamic Fuel Pricing on June 2017. However, the fuel rates vary from states to states due to local tax and other charges. The mobile apps enable customers to check on-the-go petrol prices and also one can access the latest fuel rates through SMS services or by visiting the website of a particular oil firm as we have discussed above. Below covered are the mobile apps through which you can keep track of the latest fuel price on a daily basis from your comfort. 

Fuel@IOC – IndianOil

This mobile app is accessible to Indian Oil smartphone users and is available on both the Google Play Store and the Apple Store. The smartphone application of Indian Oil enables individuals to search the latest fuel rates, so before going out for a refill, they have an idea about the latest price trend. For both Apple and Android users, which are the most used operating systems, Fuel@IOC-IndianOil is available to download. For those who don't have an Android or Apple smartphone can directly visit the official website of Indian Oil where they can easily track the latest fuel price of any particular city just with a few clicks.

SmartDrive mobile app by BPCL

BPCL's SmartDrive mobile app enables users to retain record of fuel station purchases and also assists in locating nearby filling stations. SmartDrive is configured to collect information about consumers and vehicles so that the BPCL can give you daily updates about your vehicle's PUC, insurance and support, and is accessible through both the Google Store and the Apple Store. In contrast to info on the fuel rates and locations, SmartDrive also provides details on both the Petrocard and SmartFleet loyalty transactions. 

My HPCL Mobile App

Hindustan Petroleum's My HPCL mobile app also provides a new section to stay updated with the fuel prices at the petrol pumps. The mobile app is available for Android, IOS and Windows users. The My HPCL application offers Outlets & Services, My Vehicle, Alerts, customer service line, Reviews, Help & Tips and also offers access to Insurance Renewal (with partner company), DTPLUS (HPCL Loyalty Program for fleet operators) and HPGAS (LPG) in addition to providing varying fuel prices for the fuel consumers of Chennai. The theory of fluctuating fuel costs, usually referred to as # MyFuelMyDayMyPrice, is opposed by the mainstream as the price of fuels such as diesel and petrol has been driven into the region of volatility. Although the whole change is claimed to be consumer-centered, fuel costs is now measured in terms of global market conditions and USD to INR price fluctuations across all parts of the country including Chennai. Petrol consumers of Chennai can easily check the latest petrol price of city from the comfort of their home. With a few taps consumers can meet the updated price of petrol every morning before heading to the office or fuelling the tank of their vehicle. 

Follow these ways to track the correct petrol rate of Chennai

Thanks to the introduction of Dynamic Fuel Pricing, for which the price of petrol is adjusted regularly every morning at 6 a.m. across the all the cities including Chennai in India. But due to the regular price update it is hard to track the correct petrol price of Chennai for the petrol consumers across the city. To overcome this difficulty OMCs have issued numerous methods to track the updated and actual petrol price of Chennai as well as all the cities and states. Methods such as mobile applications, SMS services and official web portal of the specific oil company are the ways through which you can find the correct fuel price of your city. The following process would make it possible for you to verify the right and accurate petrol price of Chennai. 

Via mobile apps of the Indian Oil firms- The present petrol price of every state or city is assured through mobile applications enforced through OMCs. Consumers of Indian Oil can download and use the 'Fuel@IOC' app, while buyers of Bharat Petroleum can use the 'SmartDrive' app and petrol customers of Hindustan Petroleum can install and launch the 'MY HPCL' app to record the transparent petrol price of Chennai. 

Via toll-free numbers- Chennai's petrol customers can confirm the city's accurate petrol price on the go by dialling the toll-free numbers of the relevant oil companies provided below. 

Indian Oil- 9224992249  

Bharat Petroleum-9223112222  

Hindustan Petroleum-9222201122

Via website- You can visit and access the official websites of Indian Oil, Bharat Petroleum and Hindustan Petroleum to find the latest and accurate petrol price of your city. But in parallel to this, for all cities in India, Goodreturns.in also allows you to get the perfect fuel rates.     

Impact of GST on petrol rate in Chennai

What's the maximum set GST rate till date? It is, undoubtedly, 28%. In addition to petrochemicals, GST, which stands for Goods and Services Tax, does not cover petrol. If GST is to be introduced, all the tax components in the existing market overview of the price of fuel should be excluded. 

And if GST is applied at its peak point , i.e., 28 percent, the retail selling price (RSP) of petrol would decline by a wide margin. The shift damages the stream of revenue of the government of Tamil Nadu and the central government. It is at the authority of the central government to carry petrol under the framework of GST. Thinking about the natural gas and oil industries? The whole sector of oil and natural gas has been placed beyond the reach of GST. There are many players in the sector, ranging from OMCs to owners of fuel bunkers. The introduction of GST in the sector is expected to have a negative effect on its leaders. Industry stakeholders, for example, are required to conform to double tax regimes, triggering higher costs of implementation. In order to ensure that petrol is placed under the GST regime and the source of income of the state and the central government remains unchanged, the GST Body may consider raising the tax rate. 

How often the petrol rates in Chennai are revised?

State-run oil companies such as Indian Oil, Hindustan Petroleum, and Bharat Petroleum relate the petroleum market in Chennai as well as every city or state of the country. All of these oil companies are regularly adjusting diesel and petrol prices frequently or what we called on a daily basis in simple words. This mechanism of the daily revision in petrol and diesel prices is named as Dynamic Fuel Pricing in India which is followed by the leading oil firms of the country for daily revision in a price change. The present pricing system was introduced and implemented by the Government of India in mid-June 2017. All fuel stations will revise the petrol price of the city at 6.00 A.M every morning and reflect the updated price at their respective website, mobile app and fuel bunk (both automated and non-automated). Make sure that the updated rates that each bunk will show are recorded before filling your vehicle’s fuel tank to the full. As you are a petrol buyer in the city it is recommended to you check the petrol price of the city on a daily basis as a little change will impact you in a huge way. At last, the Dynamic Fuel Pricing is designed and implemented for the transparency in fuel price among the end-consumers.   

  

Petrol rate in Chennai

Chennai is one of the biggest metropolitan city of India.

The petrol rate in Chennai remained unchanged today due to the ongoing elections in India which are going to be held in the city tomorrow. From the international business news, petrol rate in Chennai was spotted at Rs 75.69/- per litre. From the last 10 days, petrol rates in Chennai have been moving in a very narrow band.

The fuel rates in Chennai mainly depend on how international prices of crude oil move. It is largely linked to international crude prices, which trade abroad. International Brent crude oil futures were trading at USD 71.93 per barrel, up by 21 cents or 0.3 per cent from their last close. Indian crude basket determines the price of petrol in Chennai. In the international oil market, crude prices went up, backed by worries over tightening global supply because of US curbs against Iran and Venezuela.

17 April 2019
Petrol price in Chennai rises slightly

Petrol price in Chennai today was increased to Rs 75.62 per litre. The rise in fuel rates was seen despite a fall in international rates. The prices of Oil eased by 1 percent from their 2019 highs after the attention has now shifted to the lack of progress in the US and China talks. To pile on to the fears of the global economic slowdown was the release of grim manufacturing data from Germany and the US. Slower growth in the world economy is bad for oil demand, thus pushing its prices lower. Benchmark Brent crude futures fell by 1.3 percent to $66.96 a barrel. The contract hit a four-month high of $68.69 on Thursday. Supply cuts from the OPEC and its allies have caused oil prices to increase by as much as 20 percent from January. PMI data released in Germany and France further disappointed traders as the slowdown concerns have moved to all the major parts of the world.

23 March 2019
Petrol price in Chennai hiked

Petrol price in Chennai today was increased to Rs 75.57 per litre even as international rates fell and the rupee strengthened. While the Indian rupee turned tables from being the worst performing currency in Asia to the best, the international benchmark for crude oil Brent fell by 14 cents from its last close to $67.72 a barrel. US West Texas Intermediate (WTI) futures were down by 14 cents to $59.84 per barrel. The hike in petrol price in Chennai today appears to be a result of the rise in the benchmarks in the previous trading day. Crude rates are mixed for the moment with factors like the OPEC production cuts and concerns of a slowdown in economic growth have been balancing the price both ways. In a previous session this week Brent hit its four-month high, however, data suggests that economic activity has slowed down in Europe, Asia, and North America.

22 March 2019
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

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