Last 10 Days Petrol Rate in New Delhi
|Aug 30, 2020||₹ 82.03||₹ 0.09|
|Aug 29, 2020||₹ 81.94||₹ 0.00|
|Aug 28, 2020||₹ 81.94||₹ 0.11|
|Aug 27, 2020||₹ 81.83||₹ 0.10|
|Aug 26, 2020||₹ 81.73||₹ 0.00|
|Aug 25, 2020||₹ 81.73||₹ 0.11|
|Aug 24, 2020||₹ 81.62||₹ 0.13|
|Aug 23, 2020||₹ 81.49||₹ 0.14|
|Aug 22, 2020||₹ 81.35||₹ 0.16|
|Aug 21, 2020||₹ 81.19||₹ 0.19|
Petrol prices in Delhi are now changing everyday, as against every 15 days before. We are providing daily petrol price rates, so you can check the same on goodreturns.in
The advantage of doing that is you know when to fill petrol and make maximum use of falling petrol prices. In any case Delhi petrol rates are much lower then some of the other cities in India. It also sets the trend for an increase or decrease in rates in various other cities of India. The rates would be largely determined by the largest oil marketing companies in India, that is Indian Oil, Bharat Petrolem and Hindustan Petroleum. You would do well to check the rates given the fact that if you fill same about 30 to 40 litres petrol you could tend to lose a lot. Now that petrol prices in Delhi have been dergulated like many other cities in the country.
How are petrol prices in Delhi determined?
Petrol rates in Delhi largely depend on how international prices of crude oil move. It is largely linked to international crude prices, which trade abroad. There is also an India crude basket, which largely determines the prices of Petrol in Delhi. It is always advisable to check the petrol prices, if you are planning to fill your automobile to the brim. A small change in rates can be mean a lot when you have larger volumes of diesel or petrol to fill. Diesel prices in Delhi also more or less move in a smilar way.
Increasing trend in the last few days
Lately, we have been seeing an increasing trend of petrol prices rallying in several cities. In fact, in places like Delhi they have now hit the Rs 72 per litre mark. This has happened as international prices of crude have gone higher and there is every possibility that there could be a further increase in prices.
The government has in the past cut the excise on petrol to make-up for the huge gains seen in the prices of petrol. However, any such cuts in the excise tends to impact the government’s fiscal deficit.
If the trend of an increase in Delhi prices of petrol today continues, we may soon realize that rates have now hit a three year high and this is not good news for any government.
An urgent cut in the prices of the fuel is needed to be implemented by the government at the earliest.
How petrol prices are influenced in Delhi?
Todays petrol prices in New Delhi are a result of a host of a factors that influence rates.
Among these include world prices of the fuel. At the moment Brent Crude prices are trading at $64. When these prices go higher, the India crude basket goes higher, which in turn alters the daily price of petrol in Delhi. A similar thing can be seen as far as diesel is concerned.
It is hence a good idea to check prices of the fuel before leaving your home. For the last few days there has been a declining trend at the retail level. Once petrol and diesel prices are bought under the ambit of the Goods and Services Tax, we may see these prices declining in the coming days. In the meantime, we would have to continue to pay the desired sum and wait for a fall in todays petrol rates in New Delhi.
How Petrol Prices in New Delhi Today are calculated?
Fuel rates in India depend on a host of things. Petrol prices in Delhi today depend on the India crude basket, transportation costs, value added taxes and excise duty levied by the government.
The fuel costs in the city are pretty high, though they are way lesser than what Mumbai charges. The city has one of the highest value added taxes, which has pushed petrol prices higher.
In India, when excise by the government is hiked, petrol prices in Delhi tend to increase. At the moment, excise is slightly more than Rs 21. The local government also tends to tinker with the value added tax, which tends to inflate the fuel rates.
The currency also plays a big role, in pushing the price of petrol and diesel either way. If rates tend to move in one direction heavily, the government can cut or hike rates accordingly.
Overall, it is likely that we will see sharp cuts in the prices of the fuel in the coming days. International prices have the biggest bearing and any drop in these tend to help rates cuts. Movement of the rupee against the dollar also tends to impact petrol and diesel prices accordingly.
So, for calculation of todays petrol price in Delhi one has to taken into account, excise, value added tax, India crude basket and currency movement.
Petrol Prices Remains Flat in New Delhi
The petrol prices were flat in New Delhi despite a rise in global crude rates following a surprise drop in the U.S.
crude inventories. The petrol rates in New Delhi were recorded trading at Rs 82.03 per litre.
In the international markets, Brent stood at $46.49 per barrel, up by 1.48% and West Texas Intermediate (WTI) was at $43.47 per barrel, up by 1.16%.
As per the government data, the U.S. oil inventories declined across the board, which bolstered hopes that the oil demand in America which is often touted as the world’s biggest economy will withstand the coronavirus pandemic infused financial rout.
The report further revealed that the U.S. crude oil, distillate inventories and gasoline declined last week as refiners ramped up production and even demand also showed improvement.
The Energy Information Administration said that the U.S. fuel demand increased to 19.37 million barrels per day (bpd) last week marking its highest rise since March 2020 when the pandemic crisis broke out globally leading most of the countries to implement lockdown norms.
The crude inventories USOILC=ECI declined by 4.5 million barrels as against the analysts estimate of a dip of 2.9 million barrels. Even the crude output fell to touch 10.7 million bpd from the previous record of 11 million bpd.
31 August 2020Petrol Prices Firm in New Delhi
The petrol prices were firm in New Delhi despite the mixed reaction of crude rates in the international markets as the storm hit energy operations restarted gradually. The petrol rates in New Delhi were recorded trading at Rs 81.94 per litre.
In the overseas markets, Brent stood at $45.81 per barrel, up by 0.46% and West Texas Intermediate (WTI) was at $42.93 per barrel, down by 0.26%.
The oil industry which is facing turbulent times since the outbreak of the pandemic had to again face wrath from Hurricane Laura in the U.S. which briefly disrupted oil operations along the U.S. Gulf Coast.
The arrival of the hurricane had disrupted the oil production facilities and over half a dozen refineries were shutdown ahead of the category 4 storm which had hit the coast of Louisiana.
Meanwhile, the restarting of operations in the Gulf coast renewed hopes of likely improvement in the fuel demand in the coming days. The storm’s impact was limited and hence Valero Energy Corp and Motiva Enterprises have begun restarting their refineries located in Port Arthur, Texas region.
The onset of the pandemic crisis has deeply impacted the oil demand as most of the nations announced lockdown measures in a move to curb further spread of the virus forcing people to stay at home, which in turn diminished the oil demand, weighing on its prices to crash which at one point traded in negative numbers in April.
30 August 2020Petrol Prices Extends Gains in New Delhi
The petrol prices in New Delhi extended gains despite a decline in the crude rates in the international markets as the U.S. producers and refiners avoid the worst of the storm. The petrol rates in New Delhi were recorded trading at Rs 81.94 per litre, up by 11 paise.
In the global markets, Brent was recorded trading at $45.04 per barrel, down by 0.11% and West Texas Intermediate (WTI) was at $43.03 per barrel, down by 0.02%.
The crude prices in the overseas markets declined today as storm Laura raced and landed past the heart of the U.S. oil industry in Louisiana and Texas though it did not cause any widespread damage to refineries.
The Hurricane Laura which downgraded to tropical depression hit Louisiana early on Thursday with winds at 150 miles per hour. Though the landing of the storm did some damage to trees, buildings and power cuts to over 650,000 people in Louisiana and Texas, the refineries were safe as they were saved from the fears over massive flooding.
Analysts note that investors are currently focusing on the rising concerns over production outages to demand destruction.
Ahead of the storm, the refiners in America had closed down 1.56 million barrels per day (bpd) of crude output which accounts for around 83% of the Gulf of Mexico’s production. Remaining 9 refineries had closed around 2.9 million bpd capacity which accounts to around 15% of the U.S. processing capacity.
28 August 2020Petrol Prices in New Delhi Gains
The petrol prices in New Delhi gained despite a decline in crude rates in the international markets as hurricane heads towards the U.S. amidst mounting virus cases. The petrol rates in New Delhi were recorded trading at Rs 81.83 per litre, up by 10 paise.
In the international markets, Brent was recorded trading at $45.47 per barrel, down by 0.37% and West Texas Intermediate (WTI) was at $43.23 per barrel, down by 0.37%.
The crude rates declined in the international markets as oil demand is diminishing owing to the pandemic crisis which is not showing signs of easing. Apart from this most of the oil producers in the U.S. producers have closed down the output in the Gulf of Mexico ahead of Hurricane Laura which in turn has weighed on the oil prices.
The pandemic crisis had sent the oil prices to record low in April but the efforts by the Organization of the Petroleum Exporting Countries (OPEC) helped the crude rates to improve marginally, as the oil producers club decided to deeply cutdown crude output production to support the fuel prices.
As of Tuesday, the oil producers in America have evacuated around 310 offshore oil facilities and have closed down 1.56 million barrels per day (bpd) of oil output which accounts for 84% of Gulf of Mexico’s offshore production.
27 August 2020Petrol Prices Unchanged in New Delhi
The petrol prices were unchanged in New Delhi despite inching up of global crude rates as the crude output cuts in the U.S. owing to storms have uplifted the mood of the oil industry. The petrol rates in New Delhi were recorded trading at Rs 81.73 per litre.
In the global markets, Brent was recorded trading at $46.07 per barrel, up by 0.46% and West Texas Intermediate (WTI) was at $43.40 per barrel, up by 0.12%.
The closure of most of the oil offshore in America has helped the oil prices to gain close to a five-month high. The arrival of Hurricane Laura has forced the oil producers in the U.S. to shut down most of the oil output units in the Gulf of Mexico.
Yesterday, the oil producers have evacuated 310 offshore facilities and have closed down around 1.56 million barrels per day (bpd) of crude output which accounts to nearly 84% of Gulf of Mexico’s offshore production, weighing on the fuel prices to gain.
Meanwhile, the pandemic cases which is worsening further with more growing cases daily have again depleted the oil demand globally.
Analysts forecast that the U.S. crude stockpiles will dip for the fifth week consecutively as per the Reuters poll data ahead of the release of the American Petroleum Institute, which is due later today.
26 August 2020Petrol Prices Inches Up in New Delhi
The petrol prices in New Delhi inched up again despite the mixed reaction of crude rates in the international markets following the closure of oil production units in the U.S. Gulf Coast owing to Tropical Storms Laura and Marco. The petrol rates in New Delhi were recorded trading at Rs 81.73 per litre, up by 11 paise.
In the international scenario, Brent was recorded trading at $45.22 per barrel, up by 0.20% and West Texas Intermediate (WTI) was at $42.56 per barrel, down by 0.14%.
The storm in the U.S. oil region has forced energy companies to cut down production at the U.S. Gulf Coast as refineries have shut down 82% of the area’s offshore crude oil output as the storm threatens to bring in days of heavy rains and strong winds in the coming days.
So far, producers in the region have closed around 1.5 million barrels per day of Gulf Coast offshore oil production which accounts for nearly 14% of the country’s total output.
In addition to this, the rising cases of coronavirus have also cast a shadow over the fuel demand recovery weighing on its prices to decline further. The U.S. regulators have authorized the use of blood plasma from the recovered pandemic patients as a treatment option which boosted the rally in the equities markets uplifting the confidence amongst investors to pick up riskier assets.
25 August 2020Petrol Prices in New Delhi Inches Up
The petrol prices in New Delhi are up again following a rally in the crude rates in the international markets as a storm in the U.S. has trimmed down oil production in America. The petrol rates in New Delhi were recorded trading at Rs 81.62 per litre.
In the international markets, Brent was recorded trading at $44.20 per barrel and West Texas Intermediate (WTI) was at $41.50 per barrel.
On Monday, the storm in the U.S. which headed towards the Gulf of Mexico has forced the oil production activities to shut down in half of the region’s offshore production, weighing on the prices of oil in the global markets to rally.
The storm in the U.S. has forced energy companies to close down over 1 million barrels per day (bpd) of crude fuel supply in the U.S.- the Gulf of Mexico as over 100 production platforms were evacuated immediately following twin threats from Tropical Storms Marco and Laura.
The oil industry which is already facing trauma owing the pandemic crisis is again witnessing a threat from the storm in the U.S. which is likely to disrupt the fuel production and its supply in the region in the coming days.
The storm is likely to impact America’s export as well.
25 August 2020Petrol Prices in New Delhi Edges Up
The petrol prices in New Delhi edged up again despite a dip in global fuel rates as the sluggish recovery in oil demand weighs on prices to fall. The petrol rates in New Delhi were seen trading at Rs 81.19 per litre, up by 19 paise.
In the global scenario, Brent was recorded trading at $43.91 per barrel, down by 2.20% and West Texas Intermediate (WTI) was at $41.87 per barrel, down by 2.22%.
Today, the crude rates in the overseas markets slumped to hit a five-month low as easing lockdowns has aided for the slow recovery in fuel demand as major oil producers are seeking to limit the supply to cushion the prices which are witnessing a downward trend.
The economic revival of the eurozone from the virus has stuttered this month recording sluggish recovery for oil demand. In another sign of disappointment, India’s crude oil imports declined in July to settle at the lowest level since March 2010 owing to renewed lockdown measures announced to combat the spreading pandemic which has left the global economy in ruins.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia are focusing on ensuring that the members who had overproduced earlier against their commitments will have to reduce the output to balance the supply amidst muted demand.
21 August 2020Petrol Prices Hiked in New Delhi By 10 Paise
The petrol prices in New Delhi gained marginally despite witnessing a slump in global crude rates in the international markets as major oil producers warned of a risk to recovery in fuel demand leading to falling in its prices during today’s trade session. The petrol rates in New Delhi were recorded trading at Rs 81.00 per litre, up by 10 paise.
In the overseas markets, Brent was recorded trading at $44.76 per barrel, down by 1.34% and West Texas Intermediate (WTI) was at $42.29 per barrel, down by 1.49%.
The continued rise in the pandemic cases has worried the oil producers club that the fuel demand is likely to worsen in the coming days leading to the plunge in its prices by over 1%.
The U.S. crude stockpiles declined last week marking its fourth consecutive weekly fall despite a rise in the net imports. But the fall of 1.6 million barrels was less as against the Reuters poll expectations of a drop of 2.7 million barrels.
As per the data from the Energy Information Administration (EIA), the oil demand has diminished owing to the pandemic crisis.
The crude de-facto leader, Saudi Arabia’s Energy Minister noted that the oil demand worldwide should recover to pre-pandemic levels as soon as during the fourth quarter of the year and urged other oil producers to comply with the OPEC deal to trim down the output.
20 August 2020Petrol Prices in New Delhi Trades Flat
The petrol prices in New Delhi traded flat despite witnessing a drop in the international crude rates as demand worries outweigh the bigger than expected fall in the U.S. crude stockpiles. The petrol rates in New Delhi were spotted trading at Rs 80.90 per litre.
In the overseas markets, Brent was recorded trading at $44.87 per barrel, down by 1.30% and West Texas Intermediate (WTI) was at $42.41 per barrel, down by 1.12%.
The crude rates dropped over 1% during today’s trade session as growing concerns over the release of stimulus package measures in America has cast a shadow over fuel demand which in turn has weighed on its prices to decline.
The U.S. crude stock inventories declined sharply by 4.3 million barrels as against the analysts’ expectations of around 512 million barrels as per the data from the American Petroleum Institute (API). Despite the good news of the fall in the U.S. crude buildup, the uncertainty over the revival of oil demand has weighed on the fuel prices which led to its downfall today.
The upcoming meet of the Organization of the Petroleum Exporting Countries (OPEC) which is set to review the previously agreed oil output cut deal will show the future direction for oil prices in the international markets.
19 August 2020