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Petrol Price in Chennai (19th January 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 (₹73.41), 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.

Jan 19, 2019
₹ 73.41 /Ltr ( ₹ 0.18 )

Last 10 Days Petrol Rate in Chennai

Date Price Price Change
Jan 18, 2019 ₹ 73.23 ₹ 0.08
Jan 17, 2019 ₹ 73.15 ₹ 0.15
Jan 16, 2019 ₹ 73.00 ₹ -0.08
Jan 15, 2019 ₹ 73.08 ₹ 0.28
Jan 14, 2019 ₹ 72.80 ₹ 0.41
Jan 13, 2019 ₹ 72.39 ₹ 0.52
Jan 12, 2019 ₹ 71.87 ₹ 0.20
Jan 11, 2019 ₹ 71.67 ₹ 0.20
Jan 10, 2019 ₹ 71.47 ₹ 0.40
Jan 9, 2019 ₹ 71.07 ₹ -0.06

Daily & Monthly Petrol Price in Chennai : Graphical Representation

Historical Petrol Price in Chennai

  • Trend of Petrol Rate in Chennai, January 2019
  • Petrol Price
    1st January Rs.71.22
    19th January Rs.73.41
    Highest rate in January Rs.73.41 on January 19th
    Lowest Rate in January Rs.70.85 on January 5th
    Over all performance Rising
    % Change +2.98%
  • 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
  • Trend of Petrol Rate in Chennai, August 2018
  • Trend of Petrol Rate in Chennai, July 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 further

Petrol price in Chennai today was hiked to Rs 73.41 per litre.

International oil prices hit its two-month high after Bloomberg reported that China was planning on offering to buy US products to balance the trade deficit between the two largest economies in the world. According to the report, Beijing has offered to import American products worth $1 trillion over a span of six years to reduce the trade surplus that now stands at $323 billion to zero by 2024. The news increased optimism on the economic outlook of the two countries and the world in general, which translates to an increased demand for oil in the near future. The possibility of a rise in demand for fuel pushed the international benchmark Brent crude oil futures by 2.5 percent to $62.68 per barrel and US WTI crude futures ended higher by 3.3 percent at $53.80 a barrel, its best closing price since 21 November 2018. The two benchmarks increased by around 4 percent this week which is their third consecutive weekly gains after a three-month collapse in crude prices.

19 January 2019
Petrol price in Chennai up for the second straight day

Petrol price in Chennai today was raised to Rs 73.23 per litre as international oil prices hit their six-week highs. The price rise was a result of the news that China has a plan put forward to eliminate its trade surplus with the US. The immediate rise in stock markets was reflected in crude rates as well. According to a Reuters report, China's plan is to ramp up purchases of American goods over the next six years with the goal of reducing its $323 billion trade surplus last year to zero by 2024. Some traders are however skeptical of this news. Global benchmark Brent crude oil futures was up by 2.2 percent or $1.37 at $62.55 a barrel. Prices were up by 3 percent marking the third consecutive weekly hike on Friday after a three-month slump.

18 January 2019
Petrol price in Chennai appreciated

Petrol price in Chennai today was increased to Rs 73.15 per litre by the oil marketing companies in the country. The retail rate is based on fluctuation in the changes international oil prices, value of the rupee and taxes implication by various state and local governments. As petrol and diesel prices have still not come under the purview of new tax system GST, it is subject to varied taxes imposed by the state governments and local authorities. In the international market, the oil prices fell today after the American oil production reported record production of 11.9 million barrel per day last week. It is also the highest national output in the world. The petrol price in Bangalore today was set at 6 am and is most likely based on the price of crude yesterday. Numbers suggest that along with the production, the US has also increased its exports with India also included among the customers.

17 January 2019
Petrol price in Chennai reduced

Petrol price in Chennai today was cut to Rs 73 per litre as international oil prices steady. The international prices climbed in the previous session due to supply cuts from Saudi Arabia and its allies. It, however, stabilized due to the ongoing concerns over Brexit and the US government shutdown. In addition, the rupee was valued against the US dollar today. The US dollar weakened due to the continued government shutdown that is also the longest one ever. Meanwhile, with a little over 70 days left for the Brexit, lawmakers in the UK rejected British Prime Minister Theresa May's proposal to leave the European Union. These factors have raised fears of an economic slowdown in various countries which would lead to an eventual reduction in demand for fuel in these countries. China reported lower data for imports as well as exports for the month of December this week.

16 January 2019
Petrol price in Chennai gains

Petrol price in Chennai today rose for the sixth consecutive day to Rs 73.08 per litre. The hike was a result of the rise in international oil prices for the past few days on account of cut in supply from OPEC (Organisation of Petroleum Exporting Countries) and its ally Russia. Brent crude, the global benchmark was at $59.47 a barrel, that is 0.81 percent lower than the previous day. In December 2018, the Middle East dominated organization, OPEC and Russia had agreed to cut their production to balance the oversupply and stabilize the prices. The cuts became effective this month. Data released last week showed that the US has now become the biggest oil producer in the world. This may possibly mean that the power to regulate the price of international oil may shift to the US. The fall of the prices was however not as bad due to the still looming concerns of a slowdown in economic growth around the world.

15 January 2019
Petrol price in Chennai unchanged

Petrol price in Chennai today stayed at Rs 71.13 per litre as international crude prices stayed same after its gain in the previous session. Additionally, there was a fall in the US dollar where it fell to its 2 and a half month low. Besides, state taxes, petrol price in the city is set on the basis of the movement in international prices and dollar-rupee exchange rate. Oil marketers in India set these rate once a day, that is at 6 am which is why the previous valuations are usually taken up. On Monday fuel prices across the country were raised after a gain in the crude prices. Markets are currently optimistic about the possibility of a good enough trade deal between the US and China which will hopefully put the global economic growth back. Since April last year, there has been a visible slowdown in the economic activities in China and other major countries following the trade disputes.

8 January 2019
Petrol price in Chennai increased after 20 days

Petrol price in Chennai today rose to Rs 71.07 per litre as international crude prices gain. Base rates, on which the retail price of fuel is set in India, is based on the valuation of the crude benchmark Brent and the exchange rate of the Indian rupee. Brent crude futures lost greatly between mid-October and the end of December amid concerns of oversupply due to the increase the in oil production by Saudi Arabia and a slowdown in global economic growth. As it plummeted from $80 a barrel to below $50 levels, fuel rates in India also saw a decline. However, the trend may change this month as supply cuts from Saudi Arabia and its major allies will kick in as agreed in the recent OPEC meet. Additionally, the oil market was feeling optimistic on Monday about the ongoing trade talks between the US and China. Brent crude gained 1.2 percent or 69 cents to be trading at $57.75 a barrel.

7 January 2019
Petrol price in Chennai lowered again

Petrol price in Chennai today was lowered to Rs 70.85 per litre as fuel prices in the country continue their downward slid. The price chart shows that petrol is being sold at its lowest since October 2017 in the South Indian city. In the last two and a half month, there has only been one hike in the prices, that is, on 18 December. These are dependent on the movement in international prices that is measured by the benchmark Brent and the exchange value between the US dollar and rupee as most of the country's requirement of fuel is met through imports. Brent gained on Friday after the proposed trade talks between China and the US cooled down fears of a global economic slowdown. In the last months of 2018, international benchmarks Brent and US WTI saw a sharp correction in their prices which only experienced some gains in 2019, partly due to the fact that the supply cuts from Saudi Arabia are now effective and potentially curb oversupply.

5 January 2019
Petrol price in Chennai marginally lowered

Petrol price in Chennai today was reduced to Rs 71.01 per litre on global cues. Despite the new supply cuts from Saudi Arabia kick in, crude price in the international market fell due to concerns of a global economic slowdown. A slower economy means lesser production and lesser use or demand for oil, which is crucial for industries. Global benchmark Brent was near its $56 a barrel levels in early trade on Friday. On 6 December, the OPEC (Organization of Petroleum Exporting Countries) revised their supply decision at their bi-annual meet. OPEC and its allies reached an agreement to cut output in 2019 to boost the market. The agreement comes after the crude prices 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 2019.

4 January 2019
Petrol price in Chennai remains stagnant

Petrol price in Chennai today was unchanged for the second straight day at Rs 71.22 per litre as international prices erase gains from the previous day. There was an overnight recovery in the prices on concerns over economic growth in China. There was volatility in the rates throughout the day. While the prices gained from a weakness in the dollar and output cut from Saudi Arabia, there was a slump in prices which experts say was reflective of volatility in the share markets in China and the US. The American equity market saw its major stock Apple fall after the company warned shareholders of a possible drop in revenue in the upcoming quarterly results. Meanwhile, Saudi Arabia's supply cuts kick in as agreed in December. These rates are highly reactive of supply trends from the OPEC, especially its de facto leader Saudi Arabia and not the prevailing demand from customers.

3 January 2019

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