Petrol prices in Bangalore have been turning more volatile, as prices of crude oil have been showing a firm trend. It is important to check todays petrol price in Bangalore ₹ 73.55 (1st May 2020), especially if you are going for a long drive. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. The rupee has also moved lower against the dollar, which has made petrol prices in Bangalore more expensive than before. It is hoped that the government can reduce excise duties, so as to enable rates to become more cheaper in the coming days.
|Apr 30, 2020||₹ 73.55||₹ 0.00|
|Apr 29, 2020||₹ 73.55||₹ 0.00|
|Apr 28, 2020||₹ 73.55||₹ 0.00|
|Apr 27, 2020||₹ 73.55||₹ 0.00|
|Apr 26, 2020||₹ 73.55||₹ 0.00|
|Apr 25, 2020||₹ 73.55||₹ 0.00|
|Apr 24, 2020||₹ 73.55||₹ -0.04|
|Apr 23, 2020||₹ 73.59||₹ 0.04|
|Apr 22, 2020||₹ 73.55||₹ 0.00|
|Apr 21, 2020||₹ 73.55||₹ 0.00|
|Highest rate in April||Rs.73.59 on April 23rd|
|Lowest Rate in April||Rs.73.55 on April 1st|
|Over all performance||No Change|
|Highest rate in March||Rs.74.17 on March 1st|
|Lowest Rate in March||Rs.71.97 on March 16th|
|Over all performance||Falling|
|Highest rate in February||Rs.75.66 on February 1st|
|Lowest Rate in February||Rs.74.34 on February 18th|
|Over all performance||Falling|
|Highest rate in January||Rs.78.56 on January 11th|
|Lowest Rate in January||Rs.75.71 on January 31st|
|Over all performance||Falling|
|Highest rate in December||Rs.77.71 on December 31st|
|Lowest Rate in December||Rs.77.18 on December 17th|
|Over all performance||Rising|
|Highest rate in November||Rs.77.42 on November 30th|
|Lowest Rate in November||Rs.75.08 on November 5th|
|Over all performance||Rising|
It becomes extremely important to check the daily petrol price in Bangalore before you fill your tank. This is because unlike before, where petrol prices changed every fortnight, what we are seeing is that prices keep changing in Bangalore city more often. For example, today's petrol prices in Bangalore was very different to what it was until a few days ago. This is because of the beginning of June 15, there is a daily price revision.
In fact, after petrol prices were deregulated, we saw fortnight revisions.
This was highly inconvenient for consumers who ended-up paying Rs 2-3 higher for fortnightly revisions. This put an additional pressure and burden on the consumer. Things have become a lot easier these days with the everyday price revision of petrol not only in the city of Bangalore but, also the entire nation. Oil marketing companies like Indian Oil, HPCL and BPCL will now revise the prices early morning and this is a big plus for consumers.
India is a fast growing country, and also India is a big producer, consumer, and importer of petroleum products. Demand for oil products is increasing in India and India, There is a vast scope of oil storage. Having petroleum will provide technological improvements, financial incentives, policy initiatives and legislative measures. Mainly, the transport sector is the sector where most of the petroleum products especially petrol and high-speed diesel are consumed. Due to this consumption petrol price in Banglore is increasing day by day. Comparatively the petrol rates in Banglore in the past ten years are up by nearly thirty to forty rupees. There was a time when petrol price Bangalore was as low as Rs 40. But now due to the high Consumption and the necessity petrol rates are now at nearly almost at Rs 70. As of the rates seems to be doubled. Road transport solely accounts for about 37 per cent of the total oil usage, and the remaining is consumed for the machinery and other products which run on fuel.
From the past three years the petrol price in Bangalore has changed frequently once every 15 days. Before June 16th petrol price in Bangalore used to change every 15 days or two weeks by the top petroleum companies once. But the price of petrol now changed daily in the morning at 6.00 am. This change has been due to various reasons. Before two weeks once the price used to change around one or two rupees whereas now the price change in paise.
Anyhow due to the price change, larger vehicles tend to lose or save money every day. Even the companies which use a lot of petrol every day by buying and storing them in the big vessels may also buy petrol by having a track on petrol every day and buy it when the price of the petrol in Bangalore falls.
We know that both petrol and diesel are produced from crude oil then why is the petrol price in Bangalore is costlier than Diesel price most of us wonder. There are many reasons such as the refining costs, taxes, demand, etc.
The first and the main reason for it is the refining cost. In the refining process of the crude oil, crude Oil is separated into different components then further it is treated to form petrol, diesel or other petroleum products. So during the further treatment for making petrol, it will cost a lot whereas for the diesel it will not cost that much comparatively. Diesel is heavier and less volatile when compared to petrol. So, Diesel is not as much refined as petrol is refined. There are other duties such as Excise Duty, VAT, etc. which are a little higher for petrol when compared to Diesel. All these together make the petrol price in Bangalore costlier comparatively.
?In diesel car, initial buying cost is high, but mileage is greater than its petrol counterpart. So now what matters is how much you drive in a month, if you drive around 1500kms a month or 50kms every day, then go for diesel, otherwise petrol.
?If you are someone who frequently takes long distance trips, comfortability would be a factor, and diesel cars are more comfortable than petrol, plus the ease of driving will be better in diesel ones.
Coming to Bangalore, the usage of four wheelers has risen in both petrol and diesel. But, people prefer the petrol cars because compare to diesel, petrol cars are low on maintenance. Oil marketing companies are planning to put in place a mechanism to which fuel prices petrol will be compared with international crude oil prices on a daily basis.
?From the past four days, the petrol price in Bangalore rose to 12 paise.i.e Rs 68 to RS 68.12 paisa.
Bangalore is one of the biggest metropolitan city of India.
The population is very huge while comparing with other major cities in India. The petrol rate in Bangalore is not changed today and stands at Rs.75.30/- due to elections which are going to held in the city tomorrow. From the last 10 days, petrol rate in Bangalore has been moving in a very narrow band.
The fuel rates in Bangalore mainly depends on how international prices of crude oil move. It is largely linked to international crude prices, which trade abroad. Indian crude basket determines the price of petrol in Bangalore. In the international oil market, crude prices went up, backed by worries over tightening global supply because of US curbs against Iran and Venezuela. International Brent crude oil futures were trading at USD 71.93 per barrel, up by 21 cents or 0.3 per cent from their last close.17 April 2019
Petrol price in Bangalore today was increased to Rs 75.23 per litre. The rise in fuel rates was seen despite a fall in international rates. The prices of Oil eased by 1 percent from their 2019 highs after the attention has now shifted to the lack of progress in the US and China talks. To pile on to the fears of the global economic slowdown was the release of grim manufacturing data from Germany and the US. Slower growth in the world economy is bad for oil demand, thus pushing its prices lower. Benchmark Brent crude futures fell by 1.3 percent to $66.96 a barrel. The contract hit a four-month high of $68.69 on Thursday. Supply cuts from the OPEC and its allies have caused oil prices to increase by as much as 20 percent from January. PMI data released in Germany and France further disappointed traders as the slowdown concerns have moved to all the major parts of the world.23 March 2019
Petrol price in Bangalore today was increased to Rs 75.18 per litre even as international rates fell and the rupee strengthened. While the Indian rupee turned tables from being the worst performing currency in Asia to the best, the international benchmark for crude oil Brent fell by 14 cents from its last close to $67.72 a barrel. US West Texas Intermediate (WTI) futures were down by 14 cents to $59.84 per barrel. The hike in petrol price in Bangalore today appears to be a result of the rise in the benchmarks in the previous trading day. Crude rates are mixed for the moment with factors like the OPEC production cuts and concerns of a slowdown in economic growth have been balancing the price both ways. In a previous session this week Brent hit its four-month high, however, data suggests that economic activity has slowed down in Europe, Asia, and North America.22 March 2019
Petrol price in Bangalore today was reduced by 7 paise to Rs 75.13 per litre. The fuel's rates were reduced despite an increase in international rates to their 2019 highs. Supported by the tightening of US stocks and reduced output from OPEC due to scheduled cuts and sanctions on Venezuela and Iran has pushed the oil rates higher. Benchmark Brent crude oil futures were up by 5 cents to $68.55 a barrel while the US West Texas Intermediate was down by 13 cents to $60.10 per barrel. India imports crude oil from the USA as well as the Middle East. Apart from the global rate of crude, the foreign exchange rate also impacts the price at which fuel is sold in India. With rupee sailing strong for nearly two weeks, it is likely that the fall in petrol price in Bangalore today was a result of it.21 March 2019
Petrol price in Bangalore today was unchanged at Rs 72.78 per litre on firm global cues. The international oil prices climbed marginally from supply cuts from the OPEC and US sanctions on Venezuelan and Iranian exports. The climb was curbed by the concerns of an economic slowdown around the globe. Benchmark Brent crude oil futures rose by 18 cents or 0.3 percent to $67.79 a barrel when compared to their last close. US WTI increased marginally by 6 cents to $ 59.09 per barrel. The global rates have increased by almost a third in 2019 mainly due to OPEC's decision to withhold around 1.2 million barrels per day. Analysts are expecting the prices to curb down from the suspected global economic slowdown. On Wednesday, a Thomson Reuters/INSEAD survey found that Asian business confidence held near three-year lows in the first quarter from the US-China trade dispute that was dragged on.20 March 2019
Petrol price in Bangalore today remained at Rs 75.20 per litre as international oil prices slipped from their four-month highs on Tuesday, but still hovered near their 2019 peaks as supply cuts led by producer club OPEC remain. Sanctions against oil producers Iran and Venezuela from the US are also adding pressure to the crude prices. Traders feel that the market may be being capped by the rising American output. Global benchmark?Brent crude oil?futures were was down by 4 cents at $67.50 per barrel. Earlier today it rose to a four-month high of $68.20 a barrel. US?West Texas Intermediate (WTI) futures for April delivery dropped 25 cents to $58.84 per barrel, after hitting an intraday peak at $59.57, its highest level since 12 November.? Petrol price in Bangalore is set based on the average of the fuel prices for 15 days and the exchange rate of the rupee. The Indian rupee rose for the seventh straight?trading session today.19 March 2019
Petrol price in Bangalore today was increased by 7 paise to Rs 75.20 per litre. The retail prices of fuel were raised across Indian cities despite a fall in crude prices internationally. In the global markets, benchmark Brent fell by 26 cents to $ 66.90 a barrel from concerns of an economic slowdown that could possibly dent demand for fuel and despite the possibility of prolonged OPEC-led oil supply curbs. After a report said the OPEC's panel meeting on Monday to?review progress with an OPEC-led supply cut deal is recommending the producers?cancel a policy meeting that was scheduled for April, caused the prices to go lower. While Saudi Arabia, OPEC's de-facto leader has been cutting output by more than the amount it is?required to and after canceling the April meeting, it is suggesting its unwillingness by?other OPEC and non-OPEC producers to do anything to stop prices from rising. However, the increase in oil outputs from the United States has helped to offset the supply cuts.18 March 2019
Petrol price in Bangalore today was increased to Rs 75.05 per litre despite a fall in international crude oil rates. The global benchmarks, Brent and US West Texas Intermediate fell to $67 and $58.42 a barrel respectively from worries of a global economic slowdown and reduced US production. At the end of last year, the OPEC and its allies had agreed to cut their production in order to stabilize the oil prices. However, the threat of a slowdown in economic activities has increased largely between then and now especially after China reduced its growth projections and increased risk of the bad Brexit deal. Traders are concerned that the demand for oil in parts of Europe and Asia would not rise if not lower. The increase in US shale output also added to the factors that caused the rates to fall. Petrol price in Bangalore was however not lowered in reflection to the change in global rates.16 March 2019
Petrol price in?Bangalore today rose to Rs 74.96 per litre despite a fall in the international prices and a stronger rupee. In the global market, both the oil benchmarks fell. While the US West Texas Intermediate (WTI) crude oil futures dipped 48 cents to $58.13 per barrel after having hit their highest so far this year at $58.95. Brent crude oil futures were trading at $66.51 per barrel, down by 72 cents from their last settlement and below their 2019 peak of $68.14 that it reached on Thursday. The Organization of the Petroleum Exporting Countries and its allies that include Russia had cut its production as planned in December. The prices have still been cushioning because of the concerns of a global slowdown once again. There are concerns among traders of an economic slowdown that has gripped large parts of Asia and Europe (especially after Brexit) that will dent growth in fuel demand.15 March 2019
Petrol price in Bangalore today was increased to Rs 74.89 per litre after international oil prices rose to its highest level for this year. Unexpected production disruptions added to the ongoing planned supply cuts from the OPEC (Organisation of Petroleum Exporting Countries) and sanctions from the US on Iran and Venezuela. Benchmark Brent crude futures rose to a 2019 high of $67.80 per barrel. It was also its strongest level since November 2018. US West Texas Intermediate (WTI) crude futures were up by 12 cents to $58.38 a barrel. An unexpected fall in the US oil inventories and production pushed the rates higher. Additionally, the massive blackout from the economic and political crisis in Venezuela has caused production and export disruption in the country. Iran's crude exports are being sought to be actively cut by the US who aims to reduce it by 20 percent to below 1 million barrels per day. By imposing sanctions Iranian imports, it aims at reducing the amount of oil that Iran's customers are currently purchasing.14 March 2019