Petrol fuel prices

Prices have not been changed since April 6, after OMCs hiked fuel rate by Rs 10 per litre through 14 price hikes across major cities that started on March 22.

Brent crude futures were down 35 cents to trade near $113.89 per barrel. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, respectively. Chennai: Petrol price: Rs 110.85 per litre, Diesel price: Rs 100.94 per litre Retail petrol and diesel prices differ from state to state on account of local taxes like VAT or freight charges. Petrol in the National Capital of Delhi is currently priced at Rs 105.41 per litre, after the last hike of 80 paise nearly a month ago. Delhi: Petrol price: Rs 105.41 per litre, Diesel price: Rs 96.67 per litre

Average fuel prices have hit above the $2 per litre mark once again, with an energy economist relating it to the rising cost of oil.

“We then have to remember the fuel and excise tax should get back to normal around September.” “The consumption of oil and fuel is slowing down considerably due to these higher prices, which discourage consumption, also because of these COVID lockdowns being experienced in China… they’re the second-largest consumer of oil in the world, “That falling demand combined with rising supply should help to control and even bring down crude and fuel prices in the coming months,

According to a price notification from fuel retailers, petrol in Delhi costs Rs 105.41 a litre and diesel Rs 96.67.

In Mumbai, petrol and diesel prices are at Rs 120.51 and Rs 104.77 respectively. OMCs adjust the rates of petrol and diesel every day, depending on the average price of benchmark fuel in the global market over the previous 15 days and foreign exchange rates. It is at 6 am every day that changes in prices, if any, take effect. Retail rates are adjusted according to the global movement in crude prices. Prices of petrol and diesel have remained steady for more than 40 days now. In May, there has been no change in prices, so far.

The quantum of hike in pump price of diesel is likely to be more this time.

The quantum of price hike on diesel could be more than that of petrol, the source further added, as the revenue loss for diesel for Oil Marketing Companies (or OMCs ) are higher in comparison to petrol. As the world’s second-biggest oil importer, the country spent $119.2 billion in FY21-22 vs. The hike in the price of diesel could be somewhere in the range of Rs 3-4 and for petrol the range could be between Rs 2-3.

Petrol, diesel price today: In Bengaluru, one litre of petrol will cost ₹111.09 and one litre of diesel will cost ₹94.79.

Cooking gas LPG, which last month saw consumption declining because of high prices, posted a 2.8 per cent rise in sales during May 1-15. Petrol in Delhi costs ₹105.41 per litre while diesel rates costs ₹96.67, according to a price notification of state fuel retailers. In Chennai, the petrol and diesel prices are at ₹110.85 and ₹100.94 per litre . In Kolkata, the price of petrol is ₹115.12 and diesel is ₹99.83 . In Bengaluru, one litre of petrol will cost ₹111.09 and one litre of diesel will cost ₹94.79. Petrol, diesel price today: In Bengaluru, one litre of petrol will cost ₹111.09 and one litre of diesel will cost ₹94.79. India's petrol and diesel consumption jumped in May as pick up in the economic activity as well as the start of the harvesting season aided the return of demand, a preliminary industry data showed on Monday. In Gurugram, one litre of petrol will cost ₹105.86 and ₹97.10 for one litre of diesel.

Further rise likely if EU ban on Russian oil goes ahead, and petrol up 3p since start of month at 166.65p.

The RAC’s fuel spokesperson, Simon Williams, said: “Unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps. A full EU ban on Russian energy imports could push this even higher. The Office for National Statistics said last week that prices at the pump were contributing to the cost of living crisis as it revealed that the UK’s economy shrank 0.1% in March.

According to new data, UK diesel prices have reached a record high price of 180.29p a litre - beating the previous record set in March 2022.

“Unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps. While the wholesale price has eased in the last few days this is likely to be temporary, especially if the EU agrees to ban imports of Russian oil. RAC fuel spokesperson Simon Williams said: “Sadly, despite the Chancellor’s 5p a litre duty cut the average price of a litre of diesel has hit a new record high at 180.29p. Efforts to move away from importing Russian diesel have led to a tightening of supply and pushed up the price retailers pay for diesel.

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To put this into perspective the long-term average margin for unleaded is 7.5p and for diesel 8p.” The average margin for petrol is currently 11p a litre and for diesel 8p. This was backed up by figures from analysts Experian Catalist, which also showed the fuel at 180.3p per litre. Separate government figures suggested it was 179.7p - a record high according to its own data. “RAC analysis of fuel margins shows retailers – for whatever reason – are taking on average 2p a litre more than they were before the Chancellor’s 5p duty cut. On Monday, the RAC reported that the average price of a litre of diesel had exceeded 180p for the first time.

Diesel prices have hit a new high as the RAC claims retailers have increased their profits following the fuel duty cut introduced in March.

PetrolPrices.com covers major service stations including brands like BP, Shell, and Texaco as well as supermarkets, smaller chains and independent stations. 13. Morrisons Hyde, 160.7p 12. Morrisons Dunkinfield, 160.7p 11. Morrisons Bredbury, 160.7p 10. Morrisons Oldham, 160.7p 8. Morrisons Eccles, 160.7p 7. Morrisons Openshaw, 160.7p Petrol prices can vary depending on supply and demand. All these locations are within 15 miles from the centre of Manchester and all data was collated from PetrolPrices.com. In the month up to the duty cut it was 9p for petrol and 6p for diesel. Chancellor Rishi Sunak introduced a 5p per litre cut in fuel duty on March 23 to help motorists struggling with the cost of living squeeze. The average price of a litre of diesel at UK forecourts was 179.7p on Monday (16 May), up from 178.4p a week earlier, figures from Figures from the Department for Business, Energy and Industrial Strategy show.

This comes after the fuel levy reprieve that was granted to consumers by government to assist them with a lower petrol price kicks in again from the end of May.

- International oil prices: The international oil price has been relatively high and that will add another R1 to a litre of petrol. - The exchange rate of the rand: The rand weakened and because of that we can expect an increase in the petrol price of around R1 a litre. Roodt said there are three factors that will add to the increase in the petrol price next month.

On Tuesday, crude was trading at $114.84 a barrel, up 0.52%. Crude oil price has jumped 12.8% since April 6, 2022. Petrol and diesel prices were hiked 14 ...

Petrol and diesel prices were hiked 14 times in March 22 to April 6 period after which there has been no fuel price hike. Supply disruption in Gross refining margin or GRM is what a company makes from turning every barrel of crude to fuel.

Even as oil prices fall from highs in March, the cost of filling up a diesel vehicle has rocketed.

Refining margins are calculated using “crack spreads” – the overall price difference between a barrel of crude oil and the petroleum products refined from it. The RAC has accused retailers of taking 2p more in profit a litre than before the chancellor announced a 5p cut in fuel duty in March’s spring statement. After the oil is refined, it is then used in products like diesel and petrol. The fall in the oil price due to Covid hurt an industry that has struggled to attract investment into facilities amid increased environmental regulation and worries over peak oil demand. The US Energy Information Administration estimates that stocks of US distillates – typically diesel and petrol – fell 8% in March to 24% below the five-year average. But, against this backdrop, oil prices have actually fallen from their peaks in March in the early weeks of the war.

Petrol in Delhi costs ₹105.41 per litre while diesel rates costs ₹96.67, as per a price notification of state fuel retailers.One litre of petrol in ...

It is likely to recommend a proportionate enhancement of fares with respect to the CNG prices. Amid rising fuel prices, the Delhi government last month had set up a committee for fare revision of auto-rickshaws and taxis. Petrol in Delhi costs ₹105.41 per litre while diesel rates costs ₹96.67, according to a price notification of state fuel retailers. In Chennai, the petrol and diesel prices are at ₹110.85 and ₹100.94 per litre. Petrol and diesel prices were last hiked by 80 paise a litre each on April 6, taking the total increase in rates in 16 days to ₹10 per litre. "The committee is likely to finalise its report in the next two days.

According to a price notification from fuel retailers, petrol in Delhi costs Rs 105.41 a litre and diesel Rs 96.67.

In Mumbai, petrol and diesel prices are at Rs 120.51 and Rs 104.77 respectively. OMCs adjust the rates of petrol and diesel every day, depending on the average price of benchmark fuel in the global market over the previous 15 days and foreign exchange rates. It is at 6 am every day that changes in prices, if any, take effect. Retail rates are adjusted according to the global movement in crude prices. Prices of petrol and diesel have remained steady for more than 40 days now. In May, there has been no change in prices, so far.