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 ₹ 71.39 (24th May 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.
|May 23, 2019||₹ 71.25||₹ 0.08|
|May 22, 2019||₹ 71.17||₹ 0.00|
|May 21, 2019||₹ 71.17||₹ 0.05|
|May 20, 2019||₹ 71.12||₹ 0.09|
|May 19, 2019||₹ 71.03||₹ 0.00|
|May 18, 2019||₹ 71.03||₹ -0.07|
|May 17, 2019||₹ 71.10||₹ -0.08|
|May 16, 2019||₹ 71.18||₹ 0.00|
|May 15, 2019||₹ 71.18||₹ 0.00|
|May 14, 2019||₹ 71.18||₹ -0.25|
|Highest rate in May||Rs.73.13 on May 1st|
|Lowest Rate in May||Rs.71.03 on May 18th|
|Over all performance||Falling|
|Highest rate in April||Rs.73.13 on April 30th|
|Lowest Rate in April||Rs.72.80 on April 9th|
|Over all performance||Rising|
|Highest rate in March||Rs.72.86 on March 24th|
|Lowest Rate in March||Rs.71.81 on March 1st|
|Over all performance||Rising|
|Highest rate in February||Rs.71.73 on February 28th|
|Lowest Rate in February||Rs.70.28 on February 9th|
|Over all performance||Rising|
|Highest rate in January||Rs.71.27 on January 22nd|
|Lowest Rate in January||Rs.68.29 on January 5th|
|Over all performance||Rising|
|Highest rate in December||Rs.72.53 on December 1st|
|Lowest Rate in December||Rs.68.84 on December 31st|
|Over all performance||Falling|
|Highest rate in November||Rs.79.37 on November 1st|
|Lowest Rate in November||Rs.72.87 on November 30th|
|Over all performance||Falling|
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.
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.
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.
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.
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.
The petrol prices in Delhi gained following global trends wherein the prices gained my 1 per cent during today’s trade session amidst jitters over the slowdown of economy surfaces.
The petrol rates in Delhi were seen at Rs 71.39 per litre, up by 14 paise.
In the overseas markets, Brent was seen trading at $67.17 per barrel, up by 1.01% and West Texas Intermediate was at $58.43 per barrel, up by 0.90%.
The OPEC members have led the supply cut off crude supply since the beginning of this year by trimming down the crude supply to the tune of 1.2 million barrels per day (bpd) which has tightened the market leading to the rallying of crude prices. The crude prices have gained more than 30% till date during fiscal 2019 alone.
The analyst feels that the U.S. sanctions on Iran and Venezuela’s oil industry will further tighten the crude exports from OPEC, of which both countries are members.
The ongoing trade dispute between the U.S. and China becoming more murkier, one can expect more drops in financial markets which also includes crude futures in the coming days.
The petrol prices in New Delhi are mainly based on dollar-rupee currency exchange rate and crude prices in the international markets. The rise in crude rates in the global market has led to an increase in petrol prices in the local markets in New Delhi.24 May 2019
The petrol prices in New Delhi has inched up despite witnessing fall in crude prices in the international market amidst rising crude inventories in the U.S. The petrol rates in New Delhi were trading at Rs 71.25 per litre, up by 8 paise.
In the global scenario, Brent stood at $70.37 per barrel, down by 0.87% and WTI was at $60.91 per barrel, down by 0.83%.
The crude prices in the global market continued its previous day's trends and slipped down amidst rising in U.S. crude inventories. The crude futures has witnessed a fall by close to 2 per cent in the previous day.
A report from the Energy Information Administration (EIA) states that U.S. crude oil inventories have rallied up and has hit a new record level of 476.8 million barrels, their highest since July 2017.
Added to this, the weak demand for crude from most of the oil importing nations due to the escalation of tensions between the U.S. and Iran has also contributed towards the fall in their prices in the global markets.
As India imports most of the fuel from oil importing majors, the petrol prices in Delhi are mainly based on crude prices in the global markets and dollar – rupee exchange rate. The rise or fall in global crude rates will directly impact fuel prices in Delhi.23 May 2019
The petrol prices in New Delhi remained constant despite witnessing fall in crude prices in the global markets amidst a rise in stockpiles in the U.S. The petrol rates in New Delhi were recorded at Rs 71.17 per litre.
In the global scenario, Brent was seen trading at $71.68 per barrel, down by 0.69% and West Texas Intermediate was at $62.46 per barrel, down by 1.06%.
The crude production in the U.S. has soared up from the past few months and as per the reports from the American Petroleum Institute, the stockpiles have surged up by 2.4 million barrels during last week to touch a whopping 480.2 million barrels as against the analyst estimate of a loss of 599,000 barrels.
The official data from the U.S. Energy Information Administration’s oil stockpiles are yet to be released and is due later today.
Despite its decision to continue withholding crude supply, Saudi Arabia has assured that it was committed for a balanced and sustainable oil market. This helped the crude prices to fall in the international markets.
Meanwhile, the upcoming Parliamentary election results which are slated to be announced tomorrow has kept the petrol prices in Delhi to stay constant irrespective of its movement in the global markets.22 May 2019
The petrol prices in New Delhi shot up following global trends amidst escalating tensions between the U.S. and Iran. The petrol rates in New Delhi were recorded at Rs 71.17 per litre, up by 5 paise.
In the overseas markets, Brent was seen trading at $72.24 per barrel, up by 0.38% and West Texas Intermediate was at $63.56 per barrel, up by 0.55%.
The escalation of tensions between the U.S. and Iran has driven the fuel prices to rise in the global markets. The rocket attack on Iraq’s capital city Baghdad led the U.S. President – Donald Trump to threaten Iran with great force if its interests are attacked in the Middle East. Washington suspects that an organization which has links with Iran’s military was behind the attack.
Iran, on the other hand, has stated that it will resist U.S. pressure and declined any further talks with the U.S.
The OPEC members have decided to continue withholding crude supply to the oil industry for the rest of the year. The OPEC nations and its member partners have cut down the crude supply to the tune of 1.2 billion per day. The upcoming meeting of OPEC nations which was scheduled for June 25 -26 to discuss the policies has been postponed to July 3 -4.21 May 2019
The petrol prices in New Delhi rose up following global trends amidst OPEC members decided to remain firm on crude supply. The petrol rates in New Delhi were recorded at Rs 71.12 per litre, up by 9 paise.
In the overseas markets, Brent was seen trading at $73.14 per barrel, up by 1.29% and West Texas Intermediate was seen at $63.68 per barrel, up by 1.21%.
In a surprise move, Saudi Arabia’s Energy Minister stated that there was a consensus amongst OPEC and allied oil producers to decline crude inventories gently and also noted that his country would remain responsive to the needs of what he cited as a fragile market.
The news led to the surge in crude prices in the global markets which led to a rise in fuel prices by over one per cent during today’s trade session.
The OPEC along with its non – OPEC member partners including Russia had agreed to cut down crude output by 1.2 million barrels per day starting from January 2019 which boosted crude prices by over 30% so far during this year.
The U.S. decision to impose sanctions on Iran and Venezuela over crude exports has tightened the oil industry to a major extent as most of the oil importing nations cannot export crude from either of the countries and this has pressurized its prices to move up.20 May 2019
The petrol prices in New Delhi declined slightly following global trends amidst the escalation of tensions in the Middle East region. The petrol rates in New Delhi stood at Rs 71.03 per litre, down by 7 paise.
In the global markets, Brent stood at $72.21 per barrel, down by 0.56% and West Texas Intermediate was at $62.76 per barrel, down by 0.17%.
The recent attack on Saudi Arabia’s oil tankers and at two of its oil production units had led to the rallying up of crude prices in the global markets. Iran’s elite Revolutionary Guards are suspected to have carried out these attacks to avenge U.S. sanctions on Iran’s crude exports. In response to the attack, Saudi Arabia led military coalition had carried out a series of airstrikes on the Houti held capital Sanna during this week. This further pushed the crude prices to march up in the oil industry as fear over crude supplies raised concerns across the oil importing nations.
The OPEC led member nations are all set to meet during this weekend to assess commitment towards their deal to cut down crude production. Their earlier decision to trim down crude supply by 1.2 million barrels per day since January 1, 2019, has helped the crude rates to gain close to 30% till date. One has to wait and watch if the member partners will increase their supply of crude amidst fall in the supply of fuel from Iran.
The oil prices are also pressurized by the fears over the slowdown of the global economic growth amidst trade spat between the U.S. and China.18 May 2019
The petrol prices in New Delhi slipped despite securing gains in the international market amidst the escalation of tension in the Middle East region. The petrol rates in New Delhi were recorded at Rs 71.10 per litre, down by 8 paise.
In the global markets, Brent was seen at $72.78 per barrel, up by 0.22% and West Texas Intermediate was seen at $63.16 per barrel, up by 0.46%.
Yesterday, a Saudi based military coalition carried out several airstrikes in the Houti held capital Sanaa after Iranian aligned movement claimed responsibility for carrying out an armed drone attack on Saudi’s oil pumping stations on Tuesday. The move led to the rise in crude prices in the global markets and is all set for weekly gains.
The United States of America, on the other hand, has evacuated its embassy staff from Baghdad as a precautionary measure and has further deployed an aircraft carrier group, B-52 bomber and Patriot missile to the Middle East to tackle any kind of attack on crude supply from oil majors apart from Iran. At the same time, Donald Trump has also told his top advisors that he does not want to get the United States of America to get into a war with Iran.
The tensions amidst the oil-producing countries have supported its prices to gain further in the global markets. One has to wait and watch as to when this tension is likely to cool off which in turn will bring down the global fuel prices.17 May 2019
The petrol prices in New Delhi remained constant despite securing gains in the global markets amidst tensions in the Middle East region over fuel supply. The petrol rates in New Delhi stood at Rs 71.18 per litre.
In the global markets, Brent stood at $72.04 per barrel, up by 0.38% and West Texas Intermediate was seen at $62.36 per barrel, up by 0.55%.
The recent attacks on the Middle East region have raised concerns over the security of fuel supply in the middle east region. The Sunday's attack on Saudi Arabia’s oil pipeline ships in the coast of United Arab Emirates Fujairah port has sparked off tensions in the oil industry with major oil importing nations fearing over the course of crude supply in future.
Two separate attacks have hit Saudi Arabia’s crude supply at the moment. As analyst believe that Tehran is behind this attack, as it had earlier threatened the U.S. over the imposition of sanctions on its crude exports. As a measure of safety the U.S. staff from the American Embassy located in Baghdad were seen carried away in helicopters to a safer place, out of apparent concern over perceived threats from Tehran.
The rise in the production of crude in the U.S. has put a cap on rising crude prices in the global scenario. The parliamentary elections in the country has kept the petrol prices in New Delhi to remain stable.16 May 2019
The petrol prices in New Delhi remained flat despite witnessing a fall in the overseas markets amidst tensions in the Middle East. The petrol rates in New Delhi were recorded at Rs 71.18 per litre.
In the global scenario, the crude benchmark – Brent was seen trading at $71.02 per barrel, down by 0.31% and WTI was at $61.30 per barrel, down by 0.78%.
Today, Saudi Arabia announced that armed drones have struck two of its oil pumping stations. This comes two days after the sabotage of oil tankers near the coast of United Arab Emirates. The tensions between the U.S. and Iran is the likely reason behind the attack as the U.S. has withdrawn waivers to Iran to export its crude supply with effect from May 1, 2019.
The U.S. is all braced up for possible imminent threat from Tehran to its forces which are currently stationed in Iraq. On the other hand, the rise in crude production from the U.S. has led to the fall in crude rates in the global markets. The U.S. Energy Department’s Energy Information Administration is all set to release the numbers later today.
The ongoing election season in the country has helped the petrol prices in New Delhi to stay firm irrespective of its movement in the overseas markets.15 May 2019
The petrol prices in New Delhi has depreciated again despite crude gains in the overseas markets amidst tensions between the U.S. and China. The petrol rates in New Delhi were trading at Rs 71.18 per litre, down by 25 paise.
In the international market, Brent was seen at $70.59 per barrel, up by 0.51% and WTI was seen at $61.26 per barrel, up by 0.36%.
The escalation of a trade war between the U.S. and China has led to the rise in crude prices in the global market as China has imposed tariffs on a range of U.S. based goods to the tune of $60 billion in a tit – for – tat attack on the United States of America. The dragon country has imposed tariffs on items including frozen vegetables and liquefied natural gas.
The OPEC member nations, on the other hand, is yet to increase their supply of crude to the oil industry amidst imposition of sanctions by the United States of America on Iran and Venezuela’s crude exports. The oil industry is currently experiencing tightness and has pressurized the prices to move up posing a dilemma for oil importing nations.
The month-long poll season in the country has put a cap on petrol rates in Delhi. Analysts are predicting that the prices of the fuel are likely to march up after the announcement of election results that is post-May 23.14 May 2019