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Petrol Price in Chennai (22nd 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.

Petrol Price in Chennai Today (Applicable from 6 am)

Last 10 Days Petrol Rate in Chennai

Date Price Price Change
Jul 21, 2018 ₹ 79.43 ₹ -0.16
Jul 20, 2018 ₹ 79.59 ₹ -0.22
Jul 19, 2018 ₹ 79.81 ₹ 0.05
Jul 18, 2018 ₹ 79.76 ₹ 0.00
Jul 17, 2018 ₹ 79.76 ₹ 0.00
Jul 16, 2018 ₹ 79.76 ₹ -0.17
Jul 15, 2018 ₹ 79.93 ₹ 0.06
Jul 14, 2018 ₹ 79.87 ₹ 0.20
Jul 13, 2018 ₹ 79.67 ₹ 0.24
Jul 12, 2018 ₹ 79.43 ₹ 0.00

Daily & Monthly Petrol Price in Chennai : Graphical Representation

Historical Petrol Price in Chennai

  • Trend of Petrol Rate in Chennai, June 2018
  • Petrol Price
    1 st June Rs.81.28
    30th June Rs.78.40
    Highest rate in June Rs.81.28 on June 1
    Lowest Rate in June Rs.78.40 on June 5
    Over all performance Falling
    % Change -3.67%
  • Trend of Petrol Rate in Chennai, May 2018
  • Trend of Petrol Rate in Chennai, April 2018
  • Trend of Petrol Rate in Chennai, March 2018
  • Trend of Petrol Rate in Chennai, February 2018
  • Trend of Petrol Rate in Chennai, January 2018

Petrol Price in Tamil Nadu State and Major Cities

In Tamil Nadu petrol is used in day to day life as an essential commodity and used primarily for transportation purpose. It is important to track petrol rates in Chennai and other cities as the same is changed everyday by oil marketing companies like IOC, HPCL and BPCL at the petrol pumps in Tamil Nadu. At the same time, it is essential to know the daily petrol price that is changing slightly every day in major cities of Tamil Nadu like Tiruchirappalli, Madurai, Erode, Vellore and Coimbatore etc... Prior to Capital/Metro city Chennai, petrol prices may also vary slightly from city to city in Tamil Nadu.


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 once again on global cues

Petrol price in Chennai today experiences another cut following global cues. International benchmark Brent posted its third weekly loss for the 20-July ending week, settling at $73.05 a barrel.

Reflecting the losses in international oil markets, petrol price per litre was priced at Rs 79.43 in Chennai today and diesel cost was at Rs 71.90.

Additionally, late on Friday, the US dollar weakened, helping the Indian rupee recover and making imports cheaper for non-dollar currencies. The American currency slumped after US president Donald Trump said that China and Europe were manipulating their currencies and the US Federal Reserve was hurting the performance of the country's economy by raising the interest rates.

Fuel prices that had hit its all-time high on May 29 in India have been fluctuating for over 50 days due to various geopolitical factors. In the month of May, Brent crude passed its $80/barrel mark that was caused from unexpected shortages in global supply due to disruptions in activities in oil-rich countries.

Petrol price in Chennai cut

Petrol price in Chennai today fell to Rs 79.59 per litre as per the information on IOC's website. Delhi was the only city that experienced price cut in fuel by 6 paise per litre on petrol and 12 paise per litre on diesel on Thursday. In other cities like Chennai, the prices have been cut after a 3-day halt.

Despite the freedom to move the burden of fluctuating prices of crude oil and depreciation in Indian rupee to the final consumers, the state-owned oil retailers have begun taking signals from the government in making the change. The price at which fuel is sold in India is not always a direct reflection of international market rates.

Global crude oil prices declined after concerns of oversupply from oil producers like Saudi Arabia and its allies. There are also concerns about the lowering of demand for fuel in the world's two biggest economies and largest consumers of oil- China and the US that could face a possible economic slowdown from their trade war.

Petrol price in Chennai stays at Rs 79.76 a litre

Petrol price in Chennai today remained flat for the third consecutive day at Rs 79.76 per litre. Fuel price in India is determined by the change in crude oil price pattern internationally, which has remained mixed.

Internationally, Brent crude futures fell by 11 cents or 0.2 cents to $72.79 a barrel while WTI (West Texas Intermediate) crude futures were up by 6 cents to $68.82. The benchmarks for global oil prices were showing mixed reactions after the Energy Information Administration reported a fall in their stockpiles with the supplies of distillate fuels. However, it also reported that its production had reached a record 11 million barrels per day. The fall in stockpiles shows a rapidly increasing demand for gasoline in the world's largest consumer of fuel, the United States.

Meanwhile, after a meeting of the OPEC (Organization of Petroleum Exporting Countries) members and the non-OPEC oil-producing countries, to review their supply pact, it was decided to non-comply with the agreement. It means, that there will now be more oil available for distribution. 

Meanwhile, petrol price in Delhi was down by 6 paise to Rs 76.78 a litre but prices in other large cities like Chennai remained unchanged.

 

Petrol price in Chennai remains flat for the second-straight day

Petrol price in Chennai today remained unchanged for the second day in a row at Rs 79.76 per litre. Fuel rates were slashed on Monday for the first time in 10 days.

 The price at which fuel is sold in Indian cities like Chennai is affected by global movement in rates. International benchmark Brent was down by 31 cents (0.4 percent) on Wednesday to $71.85 a barrel. There were big declines this week following the ease of tensions around a shortage of global supply from labour strikes in Iraq and Norway. Reports from the American Petroleum Institute also indicated that there had been a rise in US crude stockpiles by 600,000 barrels.

Rising crude oil prices widened the trade deficit of India in the month of June as the country fulfills over 80 percent of its fuel requirements from imports. It also pushed whole price inflation to a 4.5-year high and retail inflation to a 5-month high in the month of June.

Petrol price in Chennai cut after 10 days

Fuel prices in metro cities across Indian metro cities were lowered on Monday for the first time in ten days. Prices remained unchanged on Sunday.

Petrol price in Chennai today fell to Rs 79.76 per litre as per the data from IOC's website. Fuel prices in India are revised on a daily basis by state-owned oil marketers based on international crude oil prices and other related market forces. Global benchmark Brent was down by 26 cents (0.4 percent) to $75.07 a barrel, while US WTI intermediate crude was down by 27 cents (0.4 percent) to $70.74 a barrel as per a Reuters report. Fears of disruptions in oil supply from Libya, Norway and Iraq that pushed the crude oil prices higher last week were now eased. Libya's state-oil producer restarted its output earlier this week, and it is going to reportedly compensate for the six-day strike of Norwegian rig workers.

Potential increase in supply from the OPEC (Organization of Petroleum Exporting Countries) and its ally Russia also pushed the international rates lower.

Petrol price in Chennai raised by 20 paise

For the third straight day, the petrol price in Chennai today was raised to Rs 79.87 per litre from Rs 79.67 the previous day.

The Indian Oil Corporation (IOC) and other state-owned oil marketers revise fuel prices on a daily basis based on international crude oil prices.

International benchmark Brent was up by 1.5 percent or $1.11 at $75.56 a barrel after increased global supply concerns. On Friday, global prices were eased after Libyan ports reopened and on expectations that Iran will still export oil despite the US sanctions.

However, the prices were pushed again from strike actions that hit Norway and Iraq supplies this week. On Tuesday, hundreds of Norwegian offshore oil and gas rig workers were on strike over the rejection of a proposed wage deal. While in Iraq, protests were conducted demanding jobs and better facilities from Iraq's leaders and closed the access Umm Qasr commodities port in Basra, a Reuters report stated.

Petrol price in Chennai climbs closer to Rs 80 mark

Petro price in Chennai today was raised to Rs 79.67 per litre. The changes made to the petrol price in Chennai on a daily basis is based on fluctuations in international crude oil prices.

Global benchmark Brent crude gained $1.05 to $72.67 a barrel on Thursday. On Friday morning, however (after the fuel price revision was done in India) the price eased by 36 cents or 0.5 percent due to an increase in production by the OPEC (Organization of Petroleum Exporting Countries) and their ally Russia.

Recent unexpected supply cuts from different oil producing countries pushed the price of crude oil higher. The OPEC and Russia have responded to the fluctuations with support by easing the tightness on their oil production that was maintained to control steep fall in rates. Crude oil prices have been fluctuating throughout the week and moving towards a big weekly decline of 4 percent in international benchmark Brent.

Petrol price in Chennai stable for the sixth straight day

Petrol price in Chennai remains unchanged for the sixth straight day at Rs 78.40 per litre.

Fuel prices in the country have been stagnant despite fluctuation in international rates. On Tuesday, benchmark Brent was up by 45 cents at $77.75 a barrel. Global supply has been hit issues in Canada, Libya and the US.

Canadian Syncrude that produces 360,000 barrels per day was hit by a power outage in its Alberta facility and will likely remain offline through the month of July, draining US inventories.

According to a Reuters report, an estimated 3.3 million barrels from US crude oil stockpiles fell for the fourth consecutive week ended June 29.

Meanwhile, Libya's National Oil Corp (NOC) declared force majeure on loadings at two of its ports disrupting the supply of 850,000 barrels per day. Venezuelan and Iranian supplies are also expected to be decreased in the coming months. 

The OPEC has pumped 32.32 million bpd in June as per the Reuters report, but it will not be able to make up for the disruption from four countries in the global supply if situations across the troubled countries do not improve.

 

Petrol price in Chennai stays unchanged for the fourth straight day

Petrol price in Chennai remained unchanged at Rs 78.40 per litre.

Internationally the oil prices rose up after Iran threatened to pull a substantial amount of its crude supply from the world market. US WTI (West Texas Intermediate) crude was up by 1 percent or 70 cents at its close on Friday to $74.15, making it its highest closing price since 24 November 2014.

Benchmark Brent crude grew rose by 2 percent or $ 1.59 to $79.44 a barrel.

The OPEC (Organization of Petroleum Exporting Countries) members' decision to increase their production is expected to not be of great value considering the substantially sudden shortage from Canada and possibly from Libya and Iran in the coming days.

Iran is the fifth-largest oil producer producing about 4.7 million barrels per day, which is almost 5 percent of the oil supply. If the supply is cut, it will greatly affect India and China, who import large quantities from the country to meet large-scale domestic demand.

Petrol price in Chennai remains unchanged for the second day

Petrol price in Chennai remained unchanged at Rs 78.40 per litre for the second straight day.

International crude oil prices were also steady with US light crude unchanged from the last close at $72.76 a barrel and benchmark Brent up by 30 cents to $77.92 a barrel.

Investors have been concerned about the prospective fall of crude exports from Iran as a result of US sanctions. US president Donald Trump has asked halt Iranian oil imports as his administration hopes to cut funding to the country.

Meanwhile, the OPEC (organization of petroleum exporting countries) had decided upon increasing production in the last week after their member meeting, to curb the effects of the increase in crude oil price in the month of May due to unexpected shortages in supply from member nations. A Reuters report suggests that if the OPEC increases their supply by 1 million barrels per day, it could put off the shortage from Iran.

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