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. One of the other reasons for the sudden rise of the petrol prices in Chennai is, of course, the impact of the global scene. The price of fuel petrol and diesel are set to a revision daily morning at 6 a.m. What was the lowest Petrol price in Chennai in 2021? This is when oil companies were facing difficulties to change the price due to various issues. The increase and decrease of the petrol price in Chennai will now depend on the crude oil price in the international market. With rupee sailing strong for nearly two weeks, it is likely that the fall in petrol price in Chennai today was a result of it. The petrol rates in Chennai is changing every day. 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. 87.86 per Litre. To pile on to the fears of the global economic slowdown was the release of grim manufacturing data from Germany and the US. Petrol price in Chennai today was reduced by 7 paise to Rs 75.52 per litre. The fuel rates in Chennai mainly depend on how international prices of crude oil move. However, if you are also filling large amounts, a small revision could also mean a lot. And if GST is applied at its peak point , i.e., 28 percent, the retail selling price (RSP) of petrol would decline by a wide margin. The shift damages the stream of revenue of the government of Tamil Nadu and the central government. To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar. 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. Some key components that determine the retail selling price (RSP) of petrol in Chennai are: price of crude oil, the price of the refinery, the commission of the distributor, the profit margin of OMCs, the state VAT levied on petrol and the excise duty levied on petrol. The theory of fluctuating fuel costs, usually referred to as # MyFuelMyDayMyPrice, is opposed by the mainstream as the price of fuels such as diesel and petrol has been driven into the region of volatility. For Indian Oil- 9224992249, Bharat Petroleum-9223112222, Hindustan Petroleum-9222201122. But due to the regular price update it is hard to track the correct petrol price of Chennai for the petrol consumers across the city. So, before you leave for work, it would be advisable to look for a change in petrol prices daily in Chennai. Therefore, it would be important to check the daily petrol prices at goodreturns.in. Regarding petrol, the structure has been modified from 34% to 15%, also with respect to diesel, the sum is 11% from 25% presently. 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. With a few taps consumers can meet the updated price of petrol every morning before heading to the office or fuelling the tank of their vehicle. Meanwhile, petrol and diesel prices per litre in Delhi rose by 25 paise per litre. Benchmark Brent crude futures rose to a 2019 high of $67.80 per barrel. There are many players in the sector, ranging from OMCs to owners of fuel bunkers. There was no change in retail price of auto fuels with price … To Start receiving timely alerts please follow the below steps: ₹ Petrol price in Chennai closed the week at Rs.84.23 per litre, which was the highest recorded price of the fuel for the month till date. Petrol Price in Chennai today is Rs 85.86 per Litre. The lowest Petrol price in Chennai in 2021 was ₹ 72.26 per litre on 16 March 2020. The present pricing system was introduced and implemented by the Government of India in mid-June 2017. At last, the Dynamic Fuel Pricing is designed and implemented for the transparency in fuel price among the end-consumers. The increase in US shale output also added to the factors that caused the rates to fall. Benchmark Brent crude oil futures rose by 18 cents or 0.3 percent to $67.79 a barrel when compared to their last close. This has led to prices of petrol in Chennai as above mentioned on the table. The state's petrol and diesel prices are expected to increase and the rise is a sequel to reforms introduced by the state government in the petroleum products tax regime. The petrol rate in Chennai remained unchanged today due to the ongoing elections in India which are going to be held in the city tomorrow. The fuel's rates were reduced despite an increase in international rates to their 2019 highs. By imposing sanctions Iranian imports, it aims at reducing the amount of oil that Iran's customers are currently purchasing. Once the changes is done, click on the “Save Changes” option to save the changes. Benchmark Brent crude futures fell by 1.3 percent to $66.96 a barrel. Check out last 30 days Petrol Price in Chennai The mobile apps enable customers to check on-the-go petrol prices and also one can access the latest fuel rates through SMS services or by visiting the website of a particular oil firm as we have discussed above. PMI data released in Germany and France further disappointed traders as the slowdown concerns have moved to all the major parts of the world. The international oil prices climbed marginally from supply cuts from the OPEC and US sanctions on Venezuelan and Iranian exports. Do you want to clear all the notifications from your inbox? The new prices which includes international crude oil prices,INR-USD exchange rate and state levies, … Hindustan Petroleum's My HPCL mobile app also provides a new section to stay updated with the fuel prices at the petrol pumps. Diesel prices too have hiked by 15 paise from yesterday’s rate price of Rs 67.86 a litre. In addition to petrochemicals, GST, which stands for Goods and Services Tax, does not cover petrol. What was the highest Petrol price in Chennai in 2020? Today’s Petrol price in Chennai is ₹ 88.8 per litre. 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