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Petrol Price in India (21st June 2018)

Petrol prices were revised daily in India with effect from June 15, 2017. This was a marked departure from the earlier practice of revising petrol prices every fortnight.

Today's Petrol Price in Indian Metro Cities & State Capitals

City Today Price Yesterday's Price
New Delhi ₹ 76.16 ₹ 76.27
Kolkata ₹ 78.83 ₹ 78.94
Mumbai ₹ 83.92 ₹ 84.06
Chennai ₹ 79.04 ₹ 79.16
Faridabad ₹ 76.94 ₹ 77.05
Gurgaon ₹ 76.69 ₹ 76.80
Noida ₹ 77.09 ₹ 77.17
Ghaziabad ₹ 76.97 ₹ 77.06
Agartala ₹ 71.98 ₹ 72.07
Aizawl ₹ 72.10 ₹ 72.19
Ambala ₹ 76.28 ₹ 76.39
Bangalore ₹ 77.39 ₹ 77.51
Bhopal ₹ 81.75 ₹ 81.86
Bhubaneswar ₹ 74.98 ₹ 75.09
Chandigarh ₹ 73.25 ₹ 73.36
Dehradun ₹ 77.55 ₹ 77.64
Gandhinagar ₹ 75.47 ₹ 75.58
Gangtok ₹ 79.25 ₹ 79.30
Guwahati ₹ 78.29 ₹ 78.41
Hyderabad ₹ 80.67 ₹ 80.79
Imphal ₹ 74.25 ₹ 74.36
Itanagar ₹ 72.08 ₹ 72.18
Jaipur ₹ 78.90 ₹ 79.01
Jammu ₹ 77.89 ₹ 78
Jalandhar ₹ 81.36 ₹ 81.47
Kohima ₹ 74.65 ₹ 74.75
Lucknow ₹ 77.03 ₹ 77.12
Panjim ₹ 70.18 ₹ 70.28
Patna ₹ 81.65 ₹ 81.76
Pondicherry ₹ 74.97 ₹ 75.07
Port Blair ₹ 65.66 ₹ 65.76
Raipur ₹ 76.57 ₹ 76.68
Ranchi ₹ 76.19 ₹ 76.28
Shillong ₹ 75.58 ₹ 75.67
Shimla ₹ 76.33 ₹ 76.44
Srinagar ₹ 80.59 ₹ 80.69
Trivandrum ₹ 79.26 ₹ 79.37
Silvassa ₹ 74.09 ₹ 74.20
Daman ₹ 74.02 ₹ 74.12

Daily Petrol Prices Revision in India

Daily petrol prices revision is a better proposition for a number of reasons. The first and the foremost is that it allows you to easily absorb the changes in daily petrol prices in India by a few paise. When petrol prices are revised or changed every fortnight there is a big variation in prices, which puts great additional pressure on the consumer.

In India, petrol prices are revised by the oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on the international prices. So, when international crude oil prices gain, petrol prices in India move higher and so on. On the other hand, if crude oil prices in the international markets drop, we see a fall in daily or today's petrol prices in India. In any case, we are providing our readers with the daily petrol prices, so they can plan their requirements of filling petrol accordingly.

Factors affecting Todays Petrol Price In India

Cost of Crude Oil – The change in the price of crude oil in the international market directly influences the price of crude oil in the domestic market; this is one of the most important factors responsible for an increase in petrol prices in Indian domestic market. Increase in international demand, low production rate and any political unrest in the crude oil producing countries of the world severely affects petrol price.

Increased Demand – Economic growth in India and other developing countries has also led to the increase in demand for the petrol and other essential fuels in India. The number of people who own private vehicles has gone up in the recent past which has contributed to the increase in demand for petrol in India; this has resulted in the hike in petrol prices in India.

Mismatch of Supply & Demand – Oil refinery companies in India face problem to meet the demands of the market due to the high cost of input price of crude oil thus resulting in less supply and more demand for petrol in the country. An increase in supply results in a decrease in the price of the petrol and vice versa. Oil refining and marketing companies maintain crude oil inventory up to six weeks, which also influences the price of the petrol and petroleum products.

Tax Rates – The prices of petrol and other petroleum products varies according to the local government policies which impose taxes on fuels. As and when the government of India raises tax rates on fuels the oil companies in India also increases the price of the petrol to recover losses and maintain marginal profits in the oil business in India.

Rupee to Dollar Exchange Rate – The rupee-dollar exchange rate is also one of the major factors which influence the price of petrol in India. Indian oil companies pay to the oil imported from other countries in terms of dollars, but their expenses are regarding rupee. So, when the price of the crude oil is in the fall but the rupee is also weak against the dollar then it will reduce the gains to the oil refiners. On the other hand, when the rupee strengthens against the dollar and the price of the crude oil is in the fall, then the oil companies tend to gain.

Logistics - Logistics is one of the significant factors in pricing retail fuel. Petrol and diesel transported to longer distances to cities or regions farther from depots will be priced higher than the places nearer to the oil companies storage area. The reason behind the change in the prices of petrol in different cities across India. This difference may be huge between cities that are far from each other. For example, petrol price in Delhi is Rs.72.38 per liter on January 24, 2018, and the same petrol price is Rs. 80.25 per litre in Mumbai.

Various taxes that impact petrol prices in India

The fear linked to the rise of petrol prices in India seems to be never ending. Do we blame crude oil for these steep prices hikes? Or, is the root cause something different? Well, the answer lies in the fact that while crude oil continues to remain cheaper, it is the taxes levied by the state and central governments which are actually responsible for the ever rising petrol rates.

If studies are to be followed, it would be quite simple to associate the tax factor to the steep hike in petrol prices. Since May 2014, there has been a successive increase in excise duties. Data reveals that as of November 2014, there has been a 54 percent increase in the excise duty on petrol.
In spite of the government slashing excise duty on petrol according to the Budget 2018, yet there seems to be no downward curve when the price of petrol is taken into consideration. This is due to the introduction of Rs. 8 per litre as Road Cess.

Daily price revision of petrol has begun from 16th June this year. It has been observed that the price rise has happened gradually. As petrol does not fall under GST, the price of it varies across states. However, when considering the cost & freight prices along with the excise duty, dealer commission, applicable VAT, etc, it has been found that the taxes on petrol sums up to be more than its actual cost.

Although, presently crude oil has become much cheaper compared to what it had been way back in 2014, it is the collective taxes levied by the state and the central government that has caused the petrol prices to rise to what it had been in 2014, the highest till date. Despite promises from the government regarding rolling back the taxes, we are yet to see some positive efforts on this front.

How Petrol Prices Today in India are calculated?

Petrol prices are a function of many things. Among these include the average of the India crude basket, to which is added a host of taxes including value added tax, central excise etc.

At the moment, we have the excise duty levied by the government, which is a staggering Rs 21 per litre. Should this be reduced we might get some respite from very high retail level of fuel and diesel.

 The value added tax, differs from state to state. In cities like Mumbai and New Delhi the value added tax is very high, which has resulted in an extremely high prices for both petrol and diesel.

 In India, retail prices are determined by the oil marketing companies, bearing all these things in mind. So, the retail price of petrol in India today is determined by the Indian Oil Marketing Company, which is the largest oil marketing company in the country.

For example, it releases the price of petrol everyday at 6 am, wherein it is revised at the petrol pumps in the country. The private sector petrol pumps like Shell also determine their own prices, though they tend to be higher than that of Indian Oil Company, BPCL and HPCL.

Why petrol prices today are expensive in India?

 The fuel is one of the costliest, when compared to neighboring countries like Pakistan, Bangladesh and Sri Lanka. It maybe recalled that petrol and diesel prices were earlier subsidized by the government, but, the same were aligned to market prices.

However, the government has over the years added to excise duty on petrol, which has made it horribly expensive for consumers.

 The one reason why excise is added before petrol is retailed at the fuel stations is to mop-up additional resources for social schemes. However, this leave the common burdened with additional rates on the fuel.

 The government is looking at the possibility of reducing petrol prices over the longer term, however, it would need to find more longer term mechanisms to do so. One of them is to add some taxes onto Oil and Natural Gas Corporation, which is an oil exploration company. However, these maybe all temporary measures and one needs to find a more durable long-term solution. 

Where and how to check petrol prices in India today?

You can check petrol prices in India, in a number of ways. The most popuar way is to send an SMS. For example, if you are at an HPCL pump you can send an SMS to: HPPRICE DEALER CODE and send it to 9222201122. 

For Indian Oil Corporation or IOC send SMS to: Type: RSP DEALER CODE and send it to 9224992249. 

You can also go online and check a number of websites, that provide you daily rates of the fuel. Remember, that Indian Oil the country's largest retailer revises fuel prices everyday at 6 am in the morning. So, you are able to check live petrol price everyday after this time. 

It is also important to note that bulk of the fuel is supplied by the government owned oil refining companies, including the likes of Indian Oil, Bharat Petroleum and HPCL. There are other private retailers like Shell, which also retail fuel at a slightly higher price. 

Latest Updates on Petrol Price

Petrol Prices Remains Flat in India

The prices of petrol are steady in India after yesterday’s price cut in the range of 8 paise to 12 paise by the Indian oil companies.

Today the petrol prices were recorded at Rs 76.27 per litre in New Delhi, Rs 78.94 per litre in Kolkata, Rs 84.06 per litre in Mumbai and Rs 79.16 per litre in Chennai.

The prices of petrol reached its peak during the month of May due to the surge in the prices of crude oil in the global markets when its prices touched $80 per barrel from the usual price of $60 per barrel. The rise in the rates of crude oil led to the hike in the fuel prices amongst the oil importing countries across the globe.

Due to this, the oil prices in India were regularly increased on a daily basis for a period of 16 days which in turn impacted the inflation rates in the country. Currently, the crude oil prices at the global markets have dipped and the WTI Crude is trading at $65.27 per barrel whereas the Brent is trading at $75.49 per barrel.

India is an oil importing country, it depends on oil imports up to 80% in order to fulfill its domestic requirements. The domestic consumption of oil in India has risen to 194.6 metric tonnes during 2016-17 as against 184.7 metric tonnes in 2015-2016. With the increase in oil consumption, the imports of oil to the country has also expanded.

20 June 2018
Petrol Prices Cut By 8 to 12 Paisa in India

The petrol prices in India was cut in India in the range of 8 paisa to 12 paisa with effect from Tuesday morning across all the metro cities and state capitals owing to easing in the prices of fuel in the international market.

India reeled under the surge in the prices of petrol and diesel for a period of 16 continuous days as the prices of crude oil in the global market touched a new high of $80 per barrel in mid-May. This impacted the prices of fuel even in the domestic market which led to the petrol prices reaching Rs 78.35 per litre in New Delhi, Rs 86.23 per litre in Mumbai.

The WTI Crude oil is currently trading at $64.85 per barrel and Brent crude oil has eased out its previous stand and stands at $74.88 per barrel.

Lots are expected out of the producer cartel Organization of the Petroleum Exporting Countries (OPEC) and their key ally Russia which is likely to up the oil output after with holding up supplies since 2017.

The OPEC members along with the non-OPEC producers which include Russia decided to end a global glut and increase the prices of fuel and thus decided to with-hold the oil supplies during 2017.

19 June 2018
Petrol Prices Stagnant in India

The petrol prices in India has remained constant for the past two days across all the metropolitan cities, state capitals. The rates of petrol per litre stood at Rs 76.35 in New Delhi, Rs 84.18 in Mumbai, Rs 79.02 in Kolkata, Rs 79.24 in Chennai.

Petrol prices were the biggest concern amongst the consumers before some days as the prices surged to a new high with every day revisions for a period of 16 long days in India. The rise in the prices of fuel triggered inflation adding woes to the expenses of the consumers in the country.

The reason behind the surge in the fuel prices can be attributed to the rise in the crude oil prices in the global market when the Brent crude oil in the U.S. touched $80 per barrel in May.

As of now, the Brent crude oil has sunk down and settled at $73.50 per barrel bringing in some relief to the oil importing countries across the globe.

All the eyes are now set on the Organization of the Petroleum Exporting Countries (OPEC) meet which will take place in Vienna this week. Analysts are expecting that the participating OPEC members including Saudi Arabia will take a decision to ease the output limits that were in place during last year. The existing agreement has diminished the oil output level to the extent of 1.8 million barrels per day.

18 June 2018
Petrol Prices Cut in India After Two Days Gap

Petrol Prices in India were cut again after being steady for two days. The petrol prices were recorded at Rs 76.35 per litre in New Delhi down from Rs 76.43 per litre, in Mumbai the prices stood at Rs 84.18 per litre down from the previous Rs 84.26 per litre.

The petrol prices rallied up repeatedly for 16 days in a row in India due to the surge in the prices of crude oil in the global market which hit an all-time high of $80 per barrel in mid-May. As of now, the prices of crude oil in the international market has eased out and the WTI crude oil is trading at $66.82 per barrel down by 0.10% and the Brent crude oil is trading at $75.66 per barrel down by 0.37%.

The decline of the prices of fuel in the global market has extended its impact even on the domestic market finally giving the much-needed respite to the end user – the customer.

India depends mainly on oil imports to the tune of 80% from foreign countries. The fuel consumption in India is escalating on a yearly basis. During 1990, the country had imported 37% of oil and in 2012, it imported an astonishing 82% of oil for consumption, which pushed the oil import bill to $120 billion.

15 June 2018
Petrol Prices Remains Unchanged In India

The prices of petrol have come down gradually since the oil companies in India cut the fuel prices on a regular day-to-day basis starting from May 30, 2018.

The prices of petrol in New Delhi stands at Rs 76.43 per litre and in Mumbai, it is Rs 84.26 per litre.

The oil companies in India started to reduce the prices at which petrol is sold in India starting post 16 days of continuous hike in the prices of petrol. The global crude oil prices surged to hit a record high of $80 per barrel which led to the increase in the prices of petrol and diesel in the domestic market in India.

India is one the country which mainly depends on foreign imports for fuel. It depends on oil imports up to 80% to meet the domestic requirements. Any kind of change with respect to the rates of the fuel in the global market will alter the prices of the fuel in the domestic market as well.

The Brent crude oil in the U.S. has eased now and is currently trading at $76.59 per barrel which has led to the decline in the rates of petrol and diesel in India as well.

14 June 2018
Petrol Prices Lowered For Straight Thirteenth Day In India

Petrol prices are cut on a regular basis from the past one week which has brought relief to the end user.

The prices of petrol were increasing continuously for 16 days in a row in India, due to the surge in the price of crude oil in the global market which hit a record high of $80 per barrel from the previous price of $65 per barrel which escalated the prices of the fuel across the globe.

The fuel prices in India is revised for the thirteenth straight day across the four metropolitan cities, state capitals, and cities. The petrol prices are down by an average 20 paise per litre.

The Brent crude oil in the global market has eased slightly and currently stands at $76.18 per barrel.

Apart from the crude oil, the value of Indian rupee against U.S. dollar also impacts the price of the fuel in the country.

11 June 2018
Petrol Prices Slightly Lowered in India

Petrol prices are slashed again in the country. The prices of the petrol are revised on a daily basis starting from June 15, 2017, and the changed prices will come into effect from 6 am every morning.

The prices of petrol in Delhi stood at Rs 77.42 per liter, down by 21 paise from the previous day's price of Rs 77.63 per liter.

The prices of crude oil had surged a record high in the month of May as the Brent Crude Oil in the U.S. touched $80 per barrel triggering a rise in the fuel prices across the oil importing countries of the world.

Currently, the prices of the brent crude oil has declined and is trading at $76.93 per barrel bringing in respite to all the oil importing countries across the globe.

India depends on oil imports up to 80% for domestic purposes. The Reserve Bank of India in its recent bi-monthly monetary policy meet hiked the repo rate by 25 basis points. One of the reasons behind the move is the volatile crude oil prices which adds uncertainty to its inflation outlook.

8 June 2018
Petrol Prices Falls Marginally in India

The prices of petrol have reduced further across all the states and city capitals in India as the prices of the crude oil in the global market has eased further.

The petrol prices cut by the Indian Oil companies have mainly benefited the end user. The consumer had to go through 16 days of uninterrupted regular rate hikes of both petrol and diesel which had created a big hole in there pockets apart from fueling inflation rates.

All this began with the surge in the price of the U.S. Brent crude oil which touched a record high of $80 per barrel from the usual trading price of $65 per barrel, which badly impacted the prices of the fuel amongst most of the oil importing countries in the world.

India depends on 80% of the oil imports for domestic consumption.

Currently, the Brent Crude trades at $75.55 per barrel in the U.S. market.

6 June 2018
Petrol Prices Declines Marginally In India

The prices of petrol were cut further by Re 0.13 paise in New Delhi, the capital of India. Today’s petrol price is recorded at Rs 77.83 per liter in Delhi.

The continuous hike in the rates of petrol had created a big hole in the consumer's pockets triggering high inflation rates in the country. The rise in the price of crude oil to $80 per barrel led to the continuous rise in the petrol and diesel prices in India for a period of 16 days in a row.

Currently, the Brent crude oil in the U.S. stands at $75.49 per barrel, up by 0.27% from the previous trading session. The prices of the crude oil fell nearly by 2 percent on Monday.

The rupee value against the dollar has declined by 5 percent so far during the year and it touched the 66 level against U.S. dollar before closing at 67.11. Apart from the global oil prices, the value of India rupee against U.S. dollar also results in fixing the prices of the fuel in India.

India mainly depends on imports to fulfill its domestic requirements. Around 80% of the India’s oil requirements are dependent on imports, which makes the import bill the greatest extravagant.

5 June 2018
Petrol Prices Further Declines In India

The prices of petrol are coming down on a day-to-day basis bringing in a major respite to the consumers who had to reel under the shock of rising petrol prices continuously for a period of 16 days in a row.

Petrol prices across all the major cities and metros in India declined and today’s petrol prices in New Delhi stood at Rs 77.96 per liter as against yesterday’s price of Rs 78.11 per liter.

In Mumbai, petrol prices were recorded at Rs 85.77 per liter down from previous day’s Rs 85.92 per liter.

The Brent Crude Oil hit a record high of $80 per barrel which triggered the surge in the prices of petrol across the globe. The declining rupee further worsened the situation adding more woes to the end users.

Currently, the prices of the Brent crude oil has marginally decreased and it stands at $76.33 per barrel.

4 June 2018

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