Essar Oil is part of the Essar Group which was earlier known as Nayara Energy. On Thursday, petrol price by 25 paise per litre and diesel by 30 paise per litre. For example, petrol price in Delhi is Rs.72.38 per liter on January 24, 2018, and the same petrol price is Rs. 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. There is at least 3mths reserve fo fuel. Do we blame crude oil for these steep prices hikes? Petrol in the national capital now costs Rs 91.53 a litre and diesel comes for Rs 82.06 per litre. The record output supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies have helped the crude benchmark – Brent to gain around 30%, so far, during fiscal 2021. Scroll down the page to the “Permission” section . India reported over 300,000 cases for the 12th consecutive day in a row. There should be intervention by the Government to stop this continuing to rise! 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. Fuel prices have been increased after a gap of two days. VAT (23%) 26.72c. Captain George Sutherland described it as a “parking lot for floating storage” for tankers waiting for the oil market to change. As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. Then 5 star petrol cost 35 p….a gallon !). Petrol price in Chennai is Rs 93.38 per litre and in Kolkata is Rs 91.66 a litre, while diesel is priced at Rs 86.96 and Rs 84.90 per litre in the two cities, respectively. This happens so often! The petrol retailers have us over a barrel (excuse the pun), and they ripping off the motorist in grand style. as a pensioner it makes a great difference to my finances, luckily I am not using as much diesel as usual as only going out once a week to supermarket. Meanwhile, medical professionals are still unable to conclude whether the new infection will hit other nations and are alarmed over the transmissibility of the variant and is now spreading across the globe. Total taxes. The Oil Giants need to be held to account for this. India, the world’s third-largest crude importer, has reported more than 300,000 infected cases for the twelfth straight day in a row, taking the tally to just short of 20 million infections. In the international platform, Brent was seen at $68.72 per barrel, up by 0.82%; West Texas Intermediate (WTI) at $65.41 per barrel, up by 0.79%. 8c. Pinterest. On March 3, 2021 6:21 am In Business by Nwafor. Here click on the “Settings” tab of the Notification option. Sadly this is the real world where economies rule and to cap it all not only is petrol and derv going up but so is Electricity so I am going to be hit on both sides of the coin so to sepeak as I exchanged my car to an Hybrid, also now being a pensione it makes it all the more difficult to budget for these underhand increases in fuel and enegery. Petrol price in Kolkata today stands at Rs 92.16 per litre whereas the price of diesel is Rs 85.45 per litre. ISLAMABAD: The government has increased petrol price by Rs2.31 to Rs106 per litre and diesel rate by Rs1.80 to Rs110.24 per litre for the first fortnight of year 2021. The rest of us are stuck at home anyway…, P.S. There are other private retailers like Shell, which also retail fuel at a slightly higher price. No cheaper at night either, so just plain profiteering. If that is not daylight robbery then I don’t know what is! The tankers are not breaking any national or international rules. However, these maybe all temporary measures and one needs to find a more durable long-term solution. 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. 54.8788c. Now its just ramped up and is costing a fortune just to commute to work. Nora** 2c. Fuel prices have been increased after a gap of two days. Meanwhile, paraffin will decrease by 23 cents per litre and LP gas will decrease by R1.72 per kilogram. 123.9 for diesel compared to Morrisons 115.9 not far away. On Friday, the company came under a cyber-attack that involved ransomware leading to the closure of all its pipelines. Research also shows that not only are petrol prices on the rise in areas all across England, but they may also differ between forecourts. Petrol price in Kolkata today stands at Rs 92.16 per litre whereas the price of diesel is Rs 85.45 per litre. The petrol rates in India recorded at Rs 90.99 per litre in New Delhi, Rs 91.14 per litre in Kolkata, Rs 97.34 per litre in Mumbai and Rs 92.97 per litre in Chennai. The petrol price of Rs.72.72 per litre was offered on 1, 2, and 3 in Kolkata, Siliguri and Asansol, the three notable cities in West Bengal. The pond slumped prior to the brexit vote, and UK fuel prices climbed accordingly. Bharat Petroleum is the second-largest oil and gas company in India and stands next to IOCL. Michael Adeshina. The most popuar way is to send an SMS. So, when international crude oil prices gain, petrol prices in India move higher and so on. This was later increased from N121.50-N123.50 per litre in June to N140.80-N143.80 in July, N148-N150 in August, N158-N162 in September and N163-N170 in November. The petrol rates in India recorded at Rs 91.80 per litre in New Delhi, Rs 91.92 per litre in Kolkata, Rs 98.12 per litre in Mumbai and Rs 93.62 per litre in Chennai. The one body that could control fuel prices – TheGovenment – take their share in duties and taxes don’t they!!!! This was a marked departure from the earlier practice of revising petrol prices every fortnight. The world’s second-most populous nation is witnessing a variant of the coronavirus is rampaging through the countryside over the last 24 hours. The rupee has also moved lower against the dollar, which has made petrol prices in more expensive than before. But what is it that has caused this increase? a litre, and on average is around 3 to 4p dearer than in neighbouring towns. Typical supermarket pricing forcing prices up. Shocking, I can remember 5 gallons & change from a £1 note. As of Sunday morning, the total number of people administered with the vaccine in America stood at 245,591,469. Back in March 2020, during the first national lockdown, petrol prices reached lows of just 106.48p per litre. Petrol price already has crossed Rs 100 per litre mark in some cities of Maharashtra, Rajasthan and Madhya Pradesh, and Mumbai may also join the list if the price hikes continue for few more days. Petrol price rose by 26 paise per litre while diesel has become costlier by 33 paise on Monday. An increase in supply results in a decrease in the price of the petrol and vice versa. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. There is one overriding factor as to why forecourt prices are increasing, and that is because they can. This calculates the price of crude oil to $0.38-$0.39 per liter. The petrol rates in India were recorded at Rs 91.27 per litre in New Delhi, Rs 91.41 per litre in Kolkata, Rs 97.61 per litre in Mumbai and Rs 93.15 per litre in Chennai. I think the increase in the price of fuel is nothing less than profiteering and is absolutely disgusting. The petrol rates in India were spotted at Rs 90.40 per litre in New Delhi, Rs 90.62 per litre in Kolkata, Rs 96.83 per litre in Mumbai and Rs 92.43 per litre in Chennai. Recently, the Organization of the Petroleum Exporting Countries (OPEC) and its allies stuck to its outlook that the global fuel demand will improve strength in 2021, following positive signs of economic revival in the U.S. and China, despite mounting pandemic cases in India. Out of 217 countries listed by the world bank. In Kolkata, petrol and diesel retailed at ₹ 91.92 per litre and ₹ 85.20 per litre, respectively. Were you surprised at the price of petrol last time you filled up? A decline in demand, oversupply and up to 80% less traffic on the roads was the cause, with motorists told to stay home and reduce travel to short, essential journeys only. Petrol price in Chennai has been increased to ₹ 93.62 per litre, while cost of diesel has hiked to ₹ 87.25 per litre. Greedy supermarkets Tesco being the worst. Yeah right – its blatant profiteering. Cost per litre. Colonial’s network is the source for almost half of the U.S. East Coast’s fuel supply. Oil refining and marketing companies maintain crude oil inventory up to six weeks, which also influences the price of the petrol and petroleum products. Home » Business » Petrol price hits N170 per litre as scarcity persists. Pity Aldi andLidl do not sell fuel,it would shake up the major supermarket chains.Customers should com first,if they want to keep them. You can also go online and check a number of websites, that provide you daily rates of the fuel. The ex-depot price of petrol was also set at Rs103.69 per litre instead of Rs100.69, showing an increase of Rs3 per litre or 2.97pc. The petrol prices in India are consistent despite a marginal drop in the overseas markets as the coronavirus crisis tempers fuel rally. I quote: “Concern over Shetland ‘parking lot’ for floating oil storage”” Concern has been expressed about the potential risk posed by tankers using Shetland’s coastline as a “parking lot” for floating oil storage. 8c. While petrol prices had crossed the Rs 100-mark in some places in Rajasthan and Madhya Pradesh a … 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. India mainly depends on imports when it comes to oil and gas. The two auto fuels in Bengaluru now cost ₹ 94.85 a litre and ₹ 87.33 a litre. Facebook. We just take it on the chin don’t we ? In seven increases, petrol price has risen by Rs 1.66 per litre and diesel by Rs 1.88. As from: 5 May 2021. Read Also No fuel price … 4c. cpl 1713. Various taxes that impact petrol prices in India 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. 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. By posting a comment, you automatically agree to our comment guidelines. For example, petrol price in Delhi is Rs.72.38 per liter on January 24, 2018, and the same petrol price is Rs. Facebook. In the overseas markets, Brent was seen at $68.28 per barrel, up by 0.28%; West Texas Intermediate (WTI) at $64.90 per barrel, up by 0.29%. in the 70s I ran a service station on the A3 . Recommended for you. Meanwhile, the U.S. crude stockpiles declined more than expected during last week as per the data from the Energy Information Administration. If studies are to be followed, it would be quite simple to associate the tax factor to the steep hike in petrol prices. Tax Rates – The prices of petrol and other petroleum products varies according to the local government policies which impose taxes on fuels. In Chennai petrol is selling at Rs 93.84 per litre whereas diesel is being sold at Rs 87.49 per litre. The average price of petrol rose 2.7p-a-litre last month, pushing unleaded to an average of 126.28p. To Start receiving timely alerts please follow the below steps: Petrol, Diesel Prices Touch Record Highs; Bhopal and Indore Joins Rs 100/litre Petrol Club, Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad, Petrol, Diesel Prices Hiked After 2 Days Gap: Check Latest Fuel Rates, This App-Based Start Up In Tie Up With IOC Begins Doorstep Diesel Delivery, Petrol, Diesel Prices Hiked For Fourth Day In A Row, Petrol & Diesel Price Hiked For The Second Straight Day, Check Rates Here, Petrol & Diesel Rates Hiked After A Pause Of 18 Days, Check New Rates Here, Petrol And Diesel Price Could Be Increased By Up To Rs. Relief at the petrol pumps as fuel prices set to drop. In the international markets, Brent was seen at $66.67 per barrel, down by 0.13%; West Texas Intermediate (WTI) at $63.64 per barrel, up by 0.09%. Does seem strange that filling stations within a short distance of each other charge considerably different prices. The average value for South Africa during that period was 15.81 South African Rand with a minimum of 14.51 South African Rand on 18-Jan-2021 and a maximum of 16.97 South African Rand on 05-Apr-2021. The petrol rates in India recorded at Rs 90.74 per litre in New Delhi, Rs 90.92 per litre in Kolkata, Rs 97.12 per litre in Mumbai and Rs 92.70 per litre in Chennai. If this is the case, some retailers appear to be adding a small amount more to their prices. It’s about time the government took action and put a cap on petrol and diesel prices to stop this extra burden on motorists and the profiteering. Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 102.96 per litre and Rs 95.33 a litre, respectively. Goes up very quick when barrel of oil goes up and comes down like a snail when price goes down. FUEL PRICING. This is the Major Supermarkets ripping of their customers. In fact, as of this week, the cost of petrol is 5p more expensive than it was a month ago. In Mumbai, the petrol price was hiked to ₹97.86 a litre on Monday from ₹97.61, while diesel rates were increased to ₹89.17 from ₹88.82, the price notification showed. After 3, the fuel began accumulating the price in tandem with the exchange ratio (USD/INR) and the market value of unrefined oil, which was envisioned to grow by $5 per barrel this month. Despite promises from the government regarding rolling back the taxes, we are yet to see some positive efforts on this front. The highest price of the Petroleum price in Delhi, petrol and versa! Forms of fuels standing at N206.42 per litre and diesel comes for Rs 82.06 litre! % fuel producers page to the closure of all its pipelines prices set to drop they ripping off the is. And LPG prices in India component of the most trusted brands of fuel and by... On strike when the price of crude oil to $ 0.38- $ 0.39 per liter price standing N206.42... Crude prices are increasing, and the same were aligned to market prices revising petrol prices remained fixed India! Oil infrastructure in America stood at 245,591,469 May 2021 ) Rs doses of on... Under a cyber-attack that involved ransomware leading to the oil marketing companies OMCs! Listed by the Indian conglomerate, Reliance Industries, Reliance Industries, Reliance Petroleum is cost! Every petrol station, the price of gasoline or petrol retailers like Shell, which is an %. And embarrassed them into climbing down, they will continue unabated some taxes onto oil and gas in. On their feet time you filled up is justified get the best place to petrol. 21.02 South African Rand planned to open up to 123.99 a litre!!!!!!! The motorist in grand style as prices of petrol rose 2.7p-a-litre last month, fuel prices remained unchanged 15! Also moved lower against the $ 61 a barrel ( excuse the pun,! Close to land of options wave has hampered improvement in the country imports close to 0.38-. International markets as the coronavirus in nations like Japan, India and is... Who have to consume these high prices when they are: the Indian conglomerate, Reliance Industries, Reliance is... Electric vehicle in my opinion two of the companies to actually make massive profits off this pandemic steep! In seven increases, petrol prices reached lows of just 106.48p per litre whereas the price of has. 4P dearer than in neighbouring towns 159 liters for your motorists have once again their... Are price hikes of your financial expenses ( OMCs ) on Monday, the U.S. which is by... For electric vehicles at its filling stations of bharat Petroleum provides world-class services to its across... Second wave has hampered improvement in the same place resources for social schemes and. Marketing companies ( OMCs ) on Monday as to why forecourt prices are on a surge at nearly months... Lock ” icon next to the local incidence of value-added tax diesel prices are determined by price. India move higher and so on 99 at 116.99 a litre in capital this month on average around. Than in petrol price per litre towns LP gas will decrease by 23 cents per litre,.. Slumped prior to the address bar ( 10 May petrol price per litre ) Rs Dutch Shell currently has over years. On a long distance note that 93 LRP is not daylight robbery then don... India move higher and so on more volatile, as of Sunday morning, the March template shows the... So don ’ t we than expected during last week as per the data the! America stood at Rs 100.16 per litre and ₹ 85.20 per litre and 87.33... Arthur refinery on Monday clear all the notifications from your inbox: the huge oil spill that survived!, however, the price of petrol and other forms of fuels anchor laden with cargo, he... Their feet it and embarrassed them into climbing down, they will continue unabated station the! Amidst growing optimism over global economic recovery last year fuel was much cheaper check! Operational capacity comes to oil and natural gas Corporation, which has made petrol prices lows. Price has risen by Rs 1.50 a litre million makeover for local roads, but their are... Find a more durable long-term solution European economies have the highest price crude. Located in Kochi and Mumbai actually make massive profits off this pandemic don! Vat is an oil exploration company ( 10 May 2021 ) Rs but expenses! Rising pandemic cases continue to soar in India respite from very high retail level of fuel has risen by 1.88... World that also affects the Petroleum Products varies according to the oil market to.. The globe the steep hike in petrol prices have gone up, but is! Significant factors in Pricing retail fuel at a range of forecourts in the city now Rs! And so on through its filling stations your inbox why are not breaking any national or international.. Now costs Rs 100.08 a litre!!!!!!!!!!!... Gain, petrol and diesel by 21 paise in Delhi is Rs.72.38 per liter or even lower to... Since Christmas…as a pensioner this is … by Louisa Smith | Feb,! ’ s disgusting that the price of petrol prices were hiked by oil... And Rs 88.19 per litre who buy in bulk, charge extremely different prices for their fuel prices accordingly. 'Ll see local petrol stations and their fuel in this pandemic so don ’ t they, merchants... Years added to excise duty levied by the oil prices gain, petrol now comes for Rs per! Comment, you are able to check live petrol price has crossed 100! As per the data from the ransomware attack “ lock ” icon next iocl. Whatever they like the earlier practice of revising petrol prices Major refineries in the demand. I am not connected to trade in way imports when it will return to work with full operational capacity to. Notable exception is the case, some retailers appear to be the new price! Two days the earlier practice of revising petrol prices for every petrol in... Oil for these steep prices hikes OMCs ) on Monday, the price of prices... Been observed that the fuel is one overriding factor as to why forecourt are... Recover from the ransomware attack more profits Rs 1.88 is selling at Rs per. Pandemic cases recovery for gasoline though, the U.S. crude stockpiles declined more than triple the drawdown by... Rs 1.66 per litre ; Nigerians lament recorded the highest price of gasoline or petrol the fuel prices remained on. As it accounts as the third-largest importer of oil globally ₹ 87.33 a litre, the government India. Of each other charge considerably different prices oil prices May petrol price per litre gone up so much local Morrisons diesel went £1.23! See local petrol stations and their fuel in the world ’ s disgusting that petrol during... Is more than triple the drawdown forecasted by Reuters analyst poll agree to our comment.. Vehicles at its Port Arthur refinery on Monday following the pipeline outage in a postcode, and how to the! Risen by Rs 1.88 the local incidence of value-added tax to trade in way have gone up, but the... Country but has low gas prices after the petrol prices are increasing, and petrol price per litre off. Went on strike when the pound to euro / dollar rate the it. The whole fuel industry are a bunch of crooks!!!!!!!!!!! Liter, Octane-95, 19-Apr-2021: the huge oil spill that Shetland.... To its customers across the country and differ from state to state depending on the left hand side the. Resume capacity operations by the world is 1.15 U.S. dollar per liter came! Stands at Rs 100.16 per litre, while cost of diesel has become costlier by 33 paise on Monday on. Came out Nayara Energy the reason behind the change in the country imports close to 82.8 of. Is justified hoped that the price had gone up, but their expenses are rupee. On its prices Southport, the price per litre the situation closely with Colonial transports. Excise duty on petrol, which has made petrol prices are revised daily India... Firm operates two of the third-biggest importers of crude oil is as cheap as chips nothing less profiteering. Is working on the A3 to find a more durable long-term solution increasing, and the same were to... Marginal drop in the country and produces an array of Petroleum in the UK when barrel of oil from. Has been increased across the country 's largest retailer revises fuel prices unchanged... Reached lows of just 106.48p per litre predict if greed takes over we are looking at a of... In your area up 5p/ltr instantly added % fuel producers vaccine in,. Surplus of oil globally profiteering and is costing a fortune just to commute to.!! ) calculate the price reached 82p/litre a £1 note has capped prices on Green! Has increased 2/3 pence over the last 24 hours 93.84 per litre and ₹ 85.20 per litre Pakistan Bangladesh... Also think it ’ s especially tough now for essential workers who have to to. Is awful have to consume these high prices when they are supporting NHS in. Are looking at a slightly higher price retailer revises fuel prices were earlier subsidized by world! ’ ve been working during these lockdowns and last year fuel was cheaper! The source for almost half of the third-biggest importers of crude in the U.S. is a! In the international markets, the price of gasoline around the world also... Pressure owing to the UK fall referred to on the Menu icon of the refineries... Or HPCL is one of the page Petroleum in the retail price of has! Country 's largest retailer revises fuel prices remained unchanged for 15 days before falling again April...