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Petrol Price in India (13th July 2020)

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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 ₹ 80.43 ₹ 80.43
Kolkata ₹ 82.10 ₹ 82.10
Mumbai ₹ 87.19 ₹ 87.19
Chennai ₹ 83.63 ₹ 83.63
Gurgaon ₹ 78.64 ₹ 78.44
Noida ₹ 81.18 ₹ 81.08
Bangalore ₹ 83.04 ₹ 83.04
Bhubaneswar ₹ 80.86 ₹ 81.01
Chandigarh ₹ 77.41 ₹ 77.41
Hyderabad ₹ 83.49 ₹ 83.49
Jaipur ₹ 87.77 ₹ 87.28
Lucknow ₹ 80.96 ₹ 80.98
Patna ₹ 83.41 ₹ 83.51
Trivandrum ₹ 81.95 ₹ 81.95

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. 

Brands of Petrol Pumps in India

India which mainly depends on imports for fuel sells fuels and lubricants for vehicles across the petrol bunks or petrol pumps which are spread across the length and breadth of the country. The largest oil and gas company in India – Indian Oil Corporation (IOC), owns most of the filling stations and it is followed by Hindustan Petroleum (HP) and Bharat Petroleum (BP).

There are six brands of petrol pumps which are currently active in India. They are: 

  1. Indian Oil Corporation
  2. Hindustan Petroleum
  3. Bharat Petroleum
  4. Shell
  5. Reliance Petroleum
  6. Essar Oil

1. Indian Oil Corporation

The Indian Oil Corporation (IOC) is one of the biggest oil company in India. It is owned by the government of India and is valued as the most profitable company in the country. IOCL mainly operates most of the petroleum market share through its filling stations, Servo Lubricant oils, natural gas. Apart from this, it also provides electric charging stations for electric vehicles at its filling stations.

2. Bharat Petroleum 

Bharat Petroleum is the second-largest oil and gas company in India and stands next to IOCL. It has its refineries located in Kochi and Mumbai. The fuel filling stations of Bharat Petroleum provides world-class services to its customers across the country.

3. Hindustan Petroleum

Hindustan Petroleum or HPCL is one of the most trusted brands of fuel filling stations in India. The firm operates two of the major refineries in the country and produces an array of petroleum fuels.

4. Shell

Shell, which is operated by Royal Dutch Shell currently has over 100 filling stations in India. Known for its superior quality of fuel, the company has plans to expand the number of petrol filling outlets across many centres in the country.

5. Reliance Petroleum

Owned by the Indian conglomerate, Reliance Industries, Reliance Petroleum is one of the largest private sector oil firms in India. Its Jamnagar refinery is touted as one of the largest refineries in India.

6. Essar Oil

Essar Oil is part of the Essar Group which was earlier known as Nayara Energy. As of now it has over 1,400 petrol pumps located across India and has plans for expanding its presence by setting up more pumps in the country.

Oil Imports in India

India mainly depends on imports when it comes to oil and gas. The country imports close to 82.8% of crude oil and 45.3% of natural gas to meet the domestic requirements. The country’s net foreign exchange for the fiscal year 2017 – 2018 stood at $63.305 billion due to import of crude oil. The country generated around 35.2 million tons of petrol and its related products from indigenous crude oil production whereas the consumption of petroleum and its substitute products stood at 204.9 million tons.

Due to the heavy import of fuel, India occupies the third position when it comes to consumption of oil after the U.S. and China.

Inadequate reserves of petroleum in the country has forced India to depend on imports. The country is slowly turning to use its renewable resources such as wind, solar, biomass, hydroelectric power and so on to achieve energy sufficiency in coming days as it plans to replace the use of petroleum products which contributes greatly towards air pollution.

Latest Updates on Petrol Price

Petrol Prices Stays Firm in India Despite Rally in Global Crude Rates

The petrol prices in India stayed firm despite a rally in the global crude rates as the International Energy Agency (IEA) bumped its demand forecast 2020 but the record spike in newly infected cases in America has dampened hopes for fast recovery in fuel demand.

The petrol rates in India were seen trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the international markets, Brent was recorded trading at $43.24 per barrel, up by 2.10% and West Texas Intermediate (WTI) was at $40.55 per barrel, up by 2.35%.

The crude rates rose and gained over 2% during today’s trade session in the international markets as the U.S. energy companies trimmed down the number of oil and natural gas rigs operating at record low levels for the tenth week in a row. Apart from this strong rally in the equities markets also boosted the prices of crude.

The recent data around the U.S. jobs data had uplifted the mood of the economy as signs of revival in the business activity for June was evident.

Meanwhile, the International Energy Agency (IEA) increased its demand forecast to 92.1 million barrels per day (bpd) up from its last month’s tally of 400,000 bpd, uplifting the crude rates in the international markets during today’s trade session.

11 July 2020
Petrol Prices in India Unmoved Today Despite Drop in Global Crude Rates

The petrol prices in India remained unmoved despite a decline in the global crude rates and headed for weekly loss following a rise in the virus-related cases. The petrol rates in India were recorded trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the global scenario, the crude benchmark – Brent stood at $42.26 per barrel, down by 0.21% and West Texas Intermediate (WTI) traded at $39.48 per barrel, down by 0.35%.

The fuel prices in the overseas markets continued to decline today after witnessing steep falls during the previous session on growing worries about a possible renewed lockdown across many cities in the world as the pandemic cases continue to rise suppressing demand for oil.

The crude benchmark – Brent headed for a weekly decline this week as it fell over 1% and the U.S. crude is on track for witnessing a contraction of around 3%.

While the reopening of many economies ignited a spark of recovery of the global economy which in turn will improve the demand for fuel and its prices. But the sharp rally in the daily record number of newly infected pandemic cases this week in the United States of America alone has cast a shadow over the pace of economic recovery.

Meanwhile, the Australian government has considered reducing the number of citizens who are planning to return to the country from abroad as authorities have ordered new lockdown measures in the country’s Melbourne city which is a second most populated city in the country.

10 July 2020
Petrol Prices Unchanged in India for 10th Consecutive Day

The petrol prices in India were unchanged for 10th straight day despite drop-in global crude rates as the rise in the U.S. crude stockpiles and climbing number of newly infected cases diminished demand for oil. The petrol rates in India were recorded trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the overseas markets, Brent was seen trading at $43.22 per barrel, down by 0.16% and West Texas Intermediate (WTI) was at $40.80 per barrel, down by 0.24%.

Both the U.S. crude benchmarks are on track for the fourth session with daily percentage change of less than 1% in either direction. The increase in the U.S. gasoline consumption showed signs of recovery which uplifted the crude rates in the international markets during yesterday’s trade session, but the gains were capped by the rally in the crude inventories in America and a further increase in the pandemic cases globally.

The data from the Energy Information Administration which was released yesterday showed that the U.S. gasoline inventories slumped by 4.8 million barrels despite a spike in its demand which rose to 8.8 million barrels per day, which is the record highest demand since March 20, 2020.

The latest mounting cases in the U.S. which have taken the country’s tally above 3 million has diminished hopes of quick recovery for the fuel demand which has been hit by the global lockdown as a measure to arrest the spreading of the pandemic.

9 July 2020
Petrol Prices Trades Constant in India

The petrol prices traded constantly in all the metro cities in India despite a drop in global crude rates after it recouped from the earlier losses following a continuing rise in the global pandemic cases which is likely to derail the recovery of oil demand. The petrol rates in India were recorded trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the global markets, Brent was spotted trading at $43.24 per barrel, up by 0.37% and West Texas Intermediate (WTI) was at $40.72 per barrel, up by 0.25%.

The pandemic cases across the globe are continuing to rise as it shows little or no signs of recovery and this is likely to deeply impact on the demand for fuel which is likely to take a longer than expected period to recover in the coming days.

The outbreak of epidemic and its rapid spread has diminished the demand for crude as the oil industry continues to face doldrums since the beginning of the coronavirus crisis which started way back in March 2020.

The cases in the U.S. has crossed over 3 million tallies as more states are reporting newly infected cases at record numbers. As per the data from the American Petroleum Institute, the U.S. crude oil stockpiles shot up last week despite a dip in the gasoline and distillate inventories.

Meanwhile, the data from the Energy Information Administration is due to be released later today and this is likely to give a clearer picture on the future demand for oil in America, which is considered as the largest consumer of fuel globally.

8 July 2020
Petrol Prices in India Stays Afloat

The petrol prices in India were afloat despite inching down of crude rates in the overseas markets following a surge in the pandemic cases in the U.S., capping the gains of the fuel. The petrol rates in India were recorded trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the global markets, Brent was recorded trading at $42.98 per barrel, down by 0.28% and West Texas Intermediate (WTI) was at $40.55 per barrel, down by 0.20%.

The fuel prices in the international markets rose during today’s early session as major producers struck to their earlier decided supply cuts decision, but the gains by the oil prices were negated following the surge in the number of fresh infected cases in the U.S., potentially hampering the recovery of crude demand.

The oil markets are still being supported by a bigger than expected decline in the U.S. crude stockpiles which was reported during last week and a record supply slashing of oil outputs by the OPEC and its allies.

Meanwhile, the traders are closely watching the prospects of the oil demand in America as 16 states are reporting a record surge in newly infected pandemic cases in the first five days of July as per the tally from Reuters count.

Florida has confirmed a record 11,000 cases in a single day marking biggest number, surpassing the record of any European country reported in one day, heightening the level of crisis.

7 July 2020
Petrol Prices Stable in India

The petrol prices in India were stable despite global crude posting mixed results during today's’ trade session as tighter oil supplies and a string of positive data on economic recovery lifts the mood of the oil markets. The petrol rates in India today were recorded trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the international markets, Brent was recorded trading at $43.05 per barrel, up by 0.58% and West Texas Intermediate (WTI) was at $40.44 per barrel, down by 0.52%.

Despite a surge in the number of newly infected cases in the United States of America, several states in America did not show a decline in road traffic for the week. The U.S. is touted as the largest consumer of oil in the globe.

Currently, market sentiments are positive as investors are expecting optimism over economic data which is improving gradually over time, uplifting the risk sentiment of the markets and investors.

In China, the revival of the economy was witnessed as its capital markets are attracting money, setting a scenario for a healthy bull market.

Meanwhile, focus in on the U.S. non – manufacturing activity, Germany’s industrial orders for May month and retail sales for Eurozone which is set to be released later today and analysts are expecting it to be positive.

The efforts by the OPEC and its allies to keep the supply output to a record low of 9.7 million barrels per day (bpd) for the third consecutive month in July has saved the oil industry and thus its prices.

6 July 2020
Petrol Prices Stays Unchanged in India

The petrol prices in India were unchanged despite the continuing fall of global crude rates following diminishing demand owing to growing pandemic cases. The petrol rates in India were seen trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the global scenario, Brent was recorded trading at $42.80 per barrel, down by 0.79% and West Texas Intermediate (WTI) traded at $40.32 per barrel, down by 0.81%.

The crude prices declined and fell below $43 per barrel yesterday as the resurgence of virus-related cases has raised concern that the demand for fuel growth is likely to be halted despite both the U.S. crude benchmarks headed for a weekly gain following lower supply and expanded signs of economic recovery.

The record number of cases witnessed in the U.S. this week with over 50,000 cases daily is likely to tremendously affect the fuel demand in the coming days. The recent positive data on strong U.S. jobs data for June month is likely to face a setback.

Analysts’ note that if the present trend continues then the oil demand in the region will be at risk.

The U.S. trade was thinned by the Independence Day holiday which falls on June 4, 2020.

The recent report on strong U.S. jobs data had uplifted the mood of the economic recovery and even the private survey on China’s Services sector showed expansion at a faster rate in over a decade during June, which uplifted the possible demand for fuel. But the rally in the global coronavirus cases has capped gains of the oil prices as the industry is still struggling to come out of the crisis.

 

4 July 2020
Petrol Prices Stays Unmoved in Metro Cities in India

The prices of petrol were unmoved in all the metro cities in India as the global crude rates continue to fall amidst the growing number of pandemic cases stoking fuel demand concerns. The petrol rates in India were recorded trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the international markets, the crude benchmark – Brent was recorded trading at $42.86 per barrel, down by 0.65% and West Texas Intermediate (WTI) was at $40.39 per barrel, down by 0.64%.

The resurgence of global coronavirus cases with a surprising number of new cases especially in the U.S. has diminished the prospects of the fuel demand recovery in the coming days, weighing on its prices to decline during today’s trade session.

The stronger than expected U.S. jobs report has pushed the prices of fuel to rally and both the U.S. crude benchmarks had gained over 2% during yesterday’s trade session and so far for the week, Brent is up by 4.3% and WTI is up by 5.6%.

The newly pandemic cases in America stood at over 50,000, setting a record of sort for the third straight day as per the reports from Reuters tally.

Analysts in the ANZ Research note says that the market is becoming increasingly confident that the relaxing travel and business restrictions will improve the demand for fuel, but the only concerns are the rising number of cases which is acting as a potential threat for the recovery of oil.

3 July 2020
Petrol Prices in India Trades Constant for Third Consecutive Day

The petrol prices in India traded constantly in India across all the metropolitan cities for the third consecutive day in a row as the demand for global oil declines following worries over reimposing lockdown restrictions in California. The petrol rates in India traded at Rs 80.43 in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the global scenario, Brent was recorded trading at $41.92 per barrel, down by 0.26% and West Texas Intermediate (WTI) was at $39.69 per barrel, down by 0.33%.

One of the states in America – California has reimposed some of the lockdown measures amidst a surge in the cases which in turn has dipped the crude demand and will stall the recovery of oil demand in the coming days.

This has led to the fall in the prices of both the U.S. crude benchmarks during today’s trade session.

California state sharply rolled back its efforts from reopening its economy yesterday and banned indoor restaurant dining, closed bars and beefed-up enforcement surrounding social distancing norms apart from imposing a series of measures following a mounting number of cases.

Earlier, reports from the U.S. Energy Information Administration showed a decline in the U.S. crude inventories which declined by 7.2 million barrels after hitting a record high during last week and this had helped the oil prices to inch up slightly. Apart from this, refiners had also ramped up production and imports had eased marginally which drove oil rates to grow positively.

2 July 2020
Petrol Prices Stays Constant in India

The petrol prices in India were constant despite a rise in global crude rates as signs of economic recovery has ignored surging infection cases. The petrol rates in India were seen trading at Rs 80.43 per litre in New Delhi, Rs 82.10 per litre in Kolkata, Rs 87.19 per litre in Mumbai and Rs 83.63 per litre in Chennai.

In the global scenario, Brent was recorded trading at $41.59 per barrel, up by 0.78% and West Texas Intermediate (WTI) was at $39.57 per barrel, up by 0.76%.

The improvement in factory activity in China and a drawdown in the U.S. crude inventories indicate the signs of economic recovery helping the prices of fuel to improve despite the surge in the virus-related infections globally.

In addition to this, the U.S. crude and gasoline stocks declined more than expected last week as per the data from the American Petroleum Institute (API). Though the official data from the U.S. Energy Information Administration (EIA) is due to be released later today and this will give more clarity about the U.S. crude inventories buildup.

The uplifting of the lockdown measures in China has improved the factory activities for the June month and this has uplifted the sentiments surrounding the recovery of the economic activity.

The manufacturing purchasing manager’s index (PMI) rallied to 51.2 last month from May’s mark of 50.7.

The rise in the newly infected cases in the United States of America has worried some of the investors, but some of them are betting that this will not be enough to derail the hopes of a revival of the global economy.

 

 

1 July 2020

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