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Petrol Price in New Delhi (19th August 2019)

Petrol prices in New Delhi 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 New Delhi ₹ 71.84 (19th August 2019), 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 New Delhi 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.

Aug 19, 2019
₹ 71.84 /Ltr ( ₹ -0.07 )

Last 10 Days Petrol Rate in New Delhi

Date Price Price Change
Aug 18, 2019 ₹ 71.91 ₹ -0.08
Aug 17, 2019 ₹ 71.99 ₹ 0.00
Aug 16, 2019 ₹ 71.99 ₹ 0.00
Aug 15, 2019 ₹ 71.99 ₹ 0.00
Aug 14, 2019 ₹ 71.99 ₹ 0.00
Aug 13, 2019 ₹ 71.99 ₹ 0.00
Aug 12, 2019 ₹ 71.99 ₹ 0.00
Aug 11, 2019 ₹ 71.99 ₹ -0.09
Aug 10, 2019 ₹ 72.08 ₹ 0.00
Aug 9, 2019 ₹ 72.08 ₹ -0.15

Daily & Monthly Petrol Price in New Delhi : Graphical Representation

Historical Petrol Price in New Delhi

  • Trend of Petrol Rate in New Delhi, August 2019
  • Petrol Price
    1st August Rs.72.80
    19th August Rs.71.84
    Highest rate in August Rs.72.80 on August 1st
    Lowest Rate in August Rs.71.84 on August 19th
    Over all performance Falling
    % Change -1.34%
  • Trend of Petrol Rate in New Delhi, July 2019
  • Trend of Petrol Rate in New Delhi, June 2019
  • Trend of Petrol Rate in New Delhi, May 2019
  • Trend of Petrol Rate in New Delhi, April 2019
  • Trend of Petrol Rate in New Delhi, March 2019
  • Trend of Petrol Rate in New Delhi, February 2019

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 in New Delhi Declines

The petrol prices in New Delhi declined despite a rise in crude prices in the global markets amidst rising tensions in the Middle East region over the attack on Saudi Arabia’s oil facility.

The petrol rates in New Delhi stood at Rs 71.84 per litre, down by 7 paise.

In the overseas markets, the drone attack on the Saudi oil field led to the rise in crude prices during today’s trade session, with Brent at $59.24 per barrel, up by 1.02% and WTI was at $55.29 per barrel, up by 0.88%.

The geopolitical tensions in the Middle East continued to rise again following the drone attack on the Saudi oil facility by the Yemeni separatist Houthi group which caused fire at a gas plant. Saudi Arabia maintained that oil production in the facility was not affected.

Investors eyes are all set on the key manufacturing data which is due later this week from the U.S. and Europe. As the concerns surrounding economic recession continues to weigh on crude prices.

The OPEC member countries, on the other hand, has trimmed its forecast for global oil demand growth for the rest of fiscal 2019 by 40,000 barrels per day (bpd) to 1.10 million bpd and it hinted that the market will be slightly surplus during fiscal 2020.

Meanwhile, the Indian rupee opened a tad lower at 71.17 as against the U.S. currency during today’s trade session.

19 August 2019
Petrol Rates in New Delhi Remains Constant

The petrol prices in New Delhi remained constant despite securing gains in the global markets amidst unsettled trade tariff dispute between the U.S. and China. The petrol rates in New Delhi stood at Rs 71.99 per litre.

In the international markets, Brent was trading at $58.64 per barrel, up by 0.70% and West Texas Intermediate (WTI) was trading at $54.87 per barrel, up by 0.73%.

The OPEC members have delivered a downbeat oil market for the rest of fiscal 2019 on Friday owing to slow growth of the global economy and it further highlighted the challenges in fiscal 2020. In its monthly report, the OPEC has cut its outlook for global oil demand growth during 2019 by 40,000 barrels per day (bpd) to settle at 1.10 million bpd and indicated that the market will be in slight surplus in fiscal 2020.

 The escalating tensions between the U.S. and China over the trade dispute and the Brexit issue could press the case for OPEC and its members to maintain a policy to trim down the crude supply to support its prices.

Meanwhile, the rupee recovered marginally from its early lows as it closed at 71.14 against the U.S. dollar, up by 13 paise during yesterday’s close owing to a firm local equities and foreign capital outflows. 

17 August 2019
Petrol Rates in New Delhi Remains Afloat

The petrol prices in New Delhi remains afloat despite inching up in global platform amidst a rise in U.S. retail sales. The petrol rates in New Delhi were trading at Rs 71.99 per litre.

In the global markets, the crude benchmark – Brent was seen trading at $59.03 per barrel, up by 1.37% and West Texas Intermediate (WTI) was at $55.33 per barrel, up by 1.58%.

The crude prices were declining consecutively over the last few days in the international market. But, yesterday the release of retail sales data helped it to gain over 1 per cent in the global markets as it has dampened the rising concerns about a recession in the U.S. as the retail sales have shot up by 0.7% during July as consumers purchased a range of goods as they trimmed down the purchase of motor vehicles.

The OPEC and its member partners decision to reduce additional crude supply to the market beginning from January 2019 until March 2020, has tightened the oil industry.

Meanwhile, the rupee value depreciated against the U.S. dollar to settle at 71.25 during today’s trade session. The decline in the value of rupee against the dollar is not a good sign as this will widen the current account deficit to a great extent.

16 August 2019
Petrol Prices in New Delhi Stays Flat

The petrol prices in New Delhi stood flat despite witnessing a fall in global crude prices amidst weak Chinese economic data and a surprise rise in the U.S. Crude stock inventories. The petrol rates in New Delhi were seen trading at Rs 71.99 per litre.

In the international markets, the crude benchmark – Brent was seen trading at $60.80 per barrel, down by 0.82% and West Texas Intermediate (WTI) was at $56.46 per barrel, down by 1.12%.

The Sino – U.S. trade tariff war has finally taken a toll on the economy of China as it reported an unexpected weak July data which included a slump in industrial output growth to more than 17 year low. The fresh tariffs imposed by the U.S. President on Chinese imports is yet to come into effect from next month. Analysts predict that it is better to resolve the trade spat between two major economies to avoid further slowing down of the global economy.

In a statement, issued yesterday, China’s Commerce Minister noted that the U.S. and Chinese trade officials spoke on the phone and has agreed to hold talks again within two weeks.

The surprise rise in the U.S. crude stock inventories last week has helped the prices of the fuel to dip slightly in the overseas markets after it gained more than 1 per cent during this week's trade session. The crude inventories have increased by 3.7 million barrels to touch 443 million as against the analyst's expectations of a decline of 2.8 million barrels.

Meanwhile, the rupee value slumped against the U.S. dollar to hit a six month low at 71.40 during today’s trade session. The plunge of the stock markets across the globe and the crash of Argentinian Peso has forced the investors to flock to safe havens.

14 August 2019
Petrol Rates in New Delhi Stands Flat At Rs 71.99 Per Litre

The petrol prices in New Delhi stood flat despite witnessing fall in global crude prices as demand concerns outweigh efforts to curb supply. The petrol rates in New Delhi were seen at Rs 71.99 per litre.

In the global markets, Brent stood at $58.43 per barrel, down by 0.24% and West Texas Intermediate (WTI) was at $54.81 per barrel, down by 0.22%.

The ongoing trade tariff war between Sino and the U.S. has taken a toll on the crude demand as most of the developing nations are experiencing a slow down of the growth of the economy. This has led to the drastic fall in the crude demand which in turn has also affected its prices in the global platform.

Added to this, the high running expectations of a likely rise in the fuel rates by oil majors has led to sluggish demand forecasts. Late last week, the oil major – Saudi Arabia announced its intentions to keep its crude oil exports below 7 million barrels per day (bpd) during August and September 2019 to help drain global oil inventories.

Analysts note that Saudi Arabia may be trying to support crude rates ahead of its plans to float Saudi Aramco, which is considered as the world’s largest Initial Public Offering (IPO).

Meanwhile, the Indian domestic rupee opened at day’s low and stood at 71.14 against the U.S. dollar, down by 36 paise from the previous close.

13 August 2019
Petrol Rates in New Delhi Remains Constant

The petrol prices in New Delhi remained constant despite witnessing fall in crude prices in the global scenario amidst mounting tensions over the U.S. - China trade tariff spat. The petrol rates in New Delhi were seen trading at Rs 71.99 per litre.

In the global scenario, Brent was seen at $58.30 per barrel, down by 0.39% and West Texas Intermediate (WTI) was at $54.24 per barrel, down by 0.48%.

Analysts note that the pessimism about the U.S. - China trade deal has made the fuel prices to fall at the start of the trading week owing to the low demand forecast. The year-long trade tariff war between the two major economies has rocked the stocks markets globally with a little rise in U.S. crude stock inventories which helped its prices to cool down.

The OPEC members decision to trim down an additional supply of crude has also tightened the oil industry. The OPEC members and its allies including Russia has decided to extend the crude supply cuts by 1.2 million barrels per day until March 2020, with a sole intention to prop up oil prices.

Meanwhile, the rupee value has depreciated against the U.S. currency and was seen trading at 71.03 during today’s trade session.

12 August 2019
Petrol Rates in New Delhi Stands Still

The petrol prices in New Delhi stood still despite edging up in the overseas markets amidst slow growth in crude demand in nearly a decade. The petrol rates in New Delhi stood at Rs 72.08 per litre.

In the global markets, the crude benchmark – Brent was seen trading at $58.53 per barrel, up by 2.00% and West Texas Intermediate (WTI) was at $54.50 per barrel, up by 3.73%.

The rising fears of a global economic slowdown have cast a shadow on the demand for oil in the international markets as the International Energy Agency (IEA) stated that the growth for oil demand is at its slowest pace since the financial crisis of 2008, which rocked the equities markets badly causing a recession.

The ugly trade tariff war between the U.S. and China has taken a toll on the growth of the global economy as investors are witnessing a huge crash in stock markets and hence are moving investments into a safe-haven asset – gold.

The IEA has lowered the global demand growth forecasts for the year 2019 and 2020 to 1.1 million barrels per day (bpd) and 1.3 million bpd respectively. It also noted that the demand growth in the U.S. and India was just 1,00,000 bpd between January – June.

Meanwhile, the Indian rupee was spotted trading at 70.56 per dollar on Friday as against the Thursday’s close of 70.69, up by 13 paise.

10 August 2019
Petrol Prices in New Delhi Inches Down By 5 Paise

The petrol prices in New Delhi inched down despite oil prices rallying up by over 2 per cent during today’s trade session amidst likely cut of fuel supply by oil majors. The petrol rates in New Delhi were recorded at Rs 72.23 per litre, down by 5 paise.

In the global markets, Brent was seen trading at $57.90 per barrel, up by 2.97% and West Texas Intermediate (WTI) was at $52.72 per barrel, up by 3.19%.

Saudi Arabia and its OPEC member partners are likely to trim down crude supply with an intent to support the prices. Analysts note that Saudi Arabia and other OPEC members may take action to support the market by cutting down its supply boosting crude prices to surge up during today’s trade session.

In a report, Bloomberg stated that a Saudi official said that the country was in talks with other producers to take action to halt the fall of crude rates in the global markets.

Meanwhile, the fragile dollar has supported oil prices to shoot up during today’s trade session.

The value of Indian rupee opened at 70.79 against the U.S. currency during today’s early trade session as against the previous close of 70.88.

8 August 2019
Petrol Prices in New Delhi Stands Flat

The petrol prices in New Delhi stood flat despite crude rates falling in the international markets amidst the ongoing trade tariff spat between the U.S. and China. The petrol rates in New Delhi were recorded at Rs 72.28 per litre.

In the global markets, the Brent was seen trading at $58.88 per litre, down by 0.10% and West Texas Intermediate (WTI) was at $53.59 per barrel, down by 0.07%.

The crude prices inched down marginally in the global markets after witnessing a fall during its early trade sessions amidst intensifying trade tariff war between the U.S. and China which has cast a shadow on the market. The year long tit – for – tat trade war between the U.S. and China has reached to a new level after the U.S. accused China as a currency manipulator. This led to the fall in the value of China’s currency to hit a new low for the first time, since a decade. The Chinese authorities took necessary steps which helped the Yuan to stabilize and this helped to ease out fears of the Sino – U.S. trade war and currency war.

The trade war has already taken a toll on the prices of the global crude prices, added to it the fresh row of tensions which erupted in the Middle East region last month after the attack on the oil tankers and U.S. drones by the Iraqi forces has further boosted its prices to inch up.

Meanwhile, the Indian rupee was trading lower at 70.93 per dollar, down by 12 paise as against the previous close of 70.81.

7 August 2019
Petrol Rates in New Delhi Depreciates By 9 Paise

The petrol prices in New Delhi depreciated despite crude prices moving up in global markets amidst tensions between the U.S. and China over trade tariff war. The petrol rates in New Delhi were seen at Rs 72.28 per litre, down by 9 paise.

In the international markets, the Brent prices rose up during today’s trade session and were seen at $60.41 per barrel, up by 1.00% and West Texas Intermediate was at $55.26 per barrel, up by $1.04%.

The escalation of trade tensions between the U.S. and China has helped the crude prices to shoot up in the global markets. The United States of America’s announcement of the imposition of new tariffs on Chinese imports starting from September 1, 2019, led the dragon country to retaliate against the agricultural imports from the U.S.

The U.S., on the other hand, has branded China as a country which manipulates its currency. The accusation of the U.S. led to the downfall of yuan to hit the lowest point in more than a decade. The fall in the yuan value will support its exports by making them cheaper but the crude imports will be a burden to China as it is priced in terms of the dollar.

The Indian rupee fell 9 paise down during today’s trade session to settle at 70.82 against the U.S. dollar due to the heavy outflow of capital as investors are tense owing to tensions between the U.S. and China over an escalation of trade tariff spat.

6 August 2019

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