Petrol Price in Chandigarh (25th April 2024)
Today's petrol price in Chandigarh stands at ₹94.24 per litre. No change recorded in petrol's price compared to yesterday. In the last 2 month, the petrol price in Chandigarh has been fluctuating between ₹96.20 and ₹94.24 .You can also view today's petrol prices in other districts of Chandigarh and compare them with the rates from the previous day, which already include state taxes.
Last 10 Days Petrol Rate in Chandigarh
| Date | Price | Price Change |
| Apr 24, 2024 | ₹ 94.24 | 0.00 |
| Apr 23, 2024 | ₹ 94.24 | 0.00 |
| Apr 22, 2024 | ₹ 94.24 | 0.00 |
| Apr 21, 2024 | ₹ 94.24 | 0.00 |
| Apr 20, 2024 | ₹ 94.24 | 0.00 |
| Apr 19, 2024 | ₹ 94.24 | 0.00 |
| Apr 18, 2024 | ₹ 94.24 | 0.00 |
| Apr 17, 2024 | ₹ 94.24 | 0.00 |
| Apr 16, 2024 | ₹ 94.24 | 0.00 |
| Apr 15, 2024 | ₹ 94.24 | 0.00 |
Daily & Monthly Petrol Price in Chandigarh : Graphical Representation
Historical Petrol Price in Chandigarh
- Petrol Rate in Chandigarh, April 2024
- Petrol Rate in Chandigarh, March 2024
- Petrol Rate in Chandigarh, February 2024
- Petrol Rate in Chandigarh, January 2024
- Petrol Rate in Chandigarh, December 2023
- Petrol Rate in Chandigarh, November 2023
- Petrol Rate in Chandigarh, October 2023
Petrol price in Chandigarh
Chandigarh is bordered across north, west and south by the state of Punjab, and east by the state of Haryana. It is meant to be part of the Chandigarh capital area or Greater Chandigarh, that also includes Chandigarh, and Panchkula City (in Haryana) and Kharar, Kurali, Mohali, Zirakpur City (in Punjab). The city is spread over an area of 114 sq.km and is well operated by transportation through two and four wheelers. Chandigarh's transports rely on fuel to support it’s economy and growing transportation. Petrol has become the crucial commodity due to the growing vehicle density in the city. The petrol price of Chandigarh is determined by the Global Crude or Unrefined Oil Cost, Excise Duty & Value Added Tax, Dealer Commission and Pollution Cess. Although the aforementioned calculation provides a broad understanding of Indian petrol pricing, let's take a closer look at all those.
Cost of Global Crude Oil: As stated, India buys crude oil from oil-producing countries and crude oil costs are dynamic in nature which is modified depending on multiple factors such as increased demand, supply shortages, production cuts or geopolitical conflicts. The price we purchase for one litre of petrol in Chandigarh is influenced by some of these factors. Since India purchases crude oil in US dollars, any adjustment in the exchange rate affects both the Chandigarh's petrol price and other cities across India.
VAT: Petrol prices include taxes that are paid by the federal government and the states. And also the centre charges excise duty on per litre of petrol.
Dealer’s commission: Oil refineries or fuel stations are run to store and dispense petrol to customers for which the suppliers make a profit that is included in the price of the petrol before being marketed among the fuel consumers.
Why the petrol price of Chandigarh is updated regularly?
Petrol prices are updated regularly under the current 'dynamic fuel pricing' system. Until July 2017, petrol prices were updated every fortnight by considering the US dollar exchange rate and the average global price of crude oil. However, this process did not allow dealers to raise or decrease the price if there are any fluctuations in crude oil. To cover the loses, the new strategy was implemented to supply fuel at the crude oil price of the previous day and the global exchange rate for the US dollar. Any rise in the international price of crude oil would also raise the current price of petrol in India, and vice versa.
Ways to check the petrol rate in Chandigarh
With the latest pricing system in place, the existing price of petrol is more or less different from those of the previous day. Noticing today's petrol price in a city is very complicated; however, OMCs have established many methods for verifying the price of petrol daily.
Via Mobile Apps: Oil firms have unveiled their corresponding mobile apps for regular monitoring or reviewing of the petrol price. IOC has released the 'Fuel@IOC' app, the 'SmartDrive' app can be used by BPCL consumers, while HPCL has released the 'MY HPCL' app to search the latest petrol cost in a specific area.
Via SMS: To check the petrol rate of Chandigarh via SMS, follow the details below.
IOC: SMS RSP dealer code and send it to 9224992249.
HPCL: SMS HPPRICE dealer code and send it to 9222201122.
BPCL: SMS RSP dealer code and send it to 9223112222.
Via website: In addition, fuel customers can visit the specific OMC website to find the current price of petrol of Chandigarh. Apart from this, the customers can also visit Goodreturns.in regularly to find the best and correct petrol price of all the cities including Chandigarh.
How the petrol rate is calculated in Chandigarh?
Crude oil rates, the cost of the refinery, the retailer's commission, the profit margin of the OMCs, the state VAT imposed on petrol and the excise duty imposed on petrol are some of the main components which decides the retail selling price (RSP) of petrol in Chandigarh. Crude oil is traded globally in US dollars. Oil markets are influenced by international supplies, supply and demand across major countries, natural factors, and the exchange rate of the USD against global currencies. Nationally, the price of refineries varies and is the price of refining crude oil into petrol through oil manufacturing firms. A certain portion of the profit margin on a litre of fuel sold to retail distributors is then enforced by Oil Marketing Companies (OMCs). The rates charged to retail petrol dealers are then imposed by both the state and central governments. In all regions of the country including Chandigarh, the central excise duty tends to be the same, primarily in relation to the pricing model of petrol and the State Value Added Tax (VAT) framework for petroleum products differs from state to state across India.
How the petrol price in Chandigarh is revised?
In order to adjust fuel prices, India is following the dynamic fuel pricing mechanism currently in operation. Dynamic fuel pricing is a system for fuel pricing that considers fuel prices on a regular basis, relying on crude oil markets and currency exchange rates. In June 2017, after a 40-day pilot operating in five cities across India, the method was established in India. The United States of America ( USA), Australia, and Russia are other countries are also following this new mechanism for petrol pricing in order to maintain smooth cash flow, economy and transparent petrol price. Let examine a look at the major benefits of dynamic fuel pricing.
- Petrol price adjustment is undertaken every day at 06:00 a.m.
- The price of petrol will be modified automatically by all the automated filling stations.
- The price of petrol will be manually adjusted by all non-automated refuelling stations.
- Distributors can manage working capital easily.
- The mechanism allows dealers to have craftier stock or stock control
- Adjustments in crude oil prices and INR / USD rates will be immediately transferred to end-users.
By downloading the smartphone apps of oil marketing companies like Indian Oil, Bharat Petroleum, and Hindustan Petroleum and Shell Oil, Chandigarh's petroleum customers can monitor the current petrol price. Or they may either go via SMS or customer support facilities. Through all those mechanisms petrol consumers of Chandigarh can easily track the correct and transparent petrol price of the city.
OMCs’ Mobile Apps To Track The Transparent Petrol Price of Chandigarh
Fuel prices in all regions of the nation are revised on a regular basis. Petrol customers in Chandigarh also face barriers to monitor the accurate and transparent petrol price of the city. Not just for petrol consumers in Chandigarh, but this problem is also faced by petrol consumers in all other cities across the country. India's pioneering oil companies, such as Indian Oil, Bharat Petroleum and Hindustan Petroleum, have been able to keep up-to - date with the current petrol cost in Chandigarh or any other area in diverse manners for fuel users, such as SMS, smartphone applications and customer support. Through following such tactics, petrol consumers can now forget their worry about assessing the city's correct petrol price. And apart from the old concept of so-called SMS or toll-free numbers, modern petrol customers in the electronic age can browse and install the mobile apps of the related OMCs to view the latest petrol rate anytime and anywhere they want.
After June 2017, India's leading oil firms have launched the Dynamic Fuel Pricing system, which leads to a regular revision of petrol prices across all India's states or cities. Owing to certain reasons, such as state taxes, currency volatility and more, petrol rates appear to differ on a regular basis. The smartphone apps developed by the oil companies therefore allow you to witness your city or Chandigarh's transparent petrol price. Below are the mobile applications that make you to keep a lookout without missing your pleasure with the updated and straightforward petrol price of Chandigarh.
Rise in petrol prices in Chandigarh
The continuous increase in fuel prices is a growing concern for the people of Chandigarh. With petrol prices going beyond Rs 100 per liter, the residents are facing severe economic pressure. The surge in petrol prices is primarily linked to the fluctuating international crude oil rates, the exchange value of the Indian rupee vis-à-vis the US dollar, and the substantial taxes imposed by the Central and State government. This unforeseen rise has impacted the budget of households, as transportation expenses have significantly escalated, affecting their overall financial stability. As the costs continue to soar, citizens eagerly await measures to alleviate the burden and stabilize the fuel prices in Chandigarh.
As a consequence of the surge, the residents of Chandigarh are facing the burden of paying exceedingly high prices for transportation. This has resulted in a significant increase in their daily expenses, leaving commuters feeling the financial strain. Additionally, the local transport providers such as auto-rickshaws and taxis are also grappling with the repercussions of elevated operating costs. Ultimately, this has led to an indirect impact on the fares charged to the commuters, further exacerbating the financial burden on the citizens of Chandigarh.
The Central and State governments have justified the hike with the need to generate more revenue during the pandemic crisis.
However, residents have raised their concerns over the excessively high prices, leading to numerous protests and appeals for the reduction of the fuel tax.
While the government remains adamant on maintaining the current petrol prices, it is of paramount importance to explore alternative solutions such as promoting the use of public transport, encouraging electric and hybrid vehicles, and reconsidering the fuel taxes. Unless immediate steps are taken, the burden on common man will continue to intensify.
Latest Updates on Petrol Price in Chandigarh
Petrol prices in Chandigarh today are stable amidst stagnant demand noted in crude oil for international markets, costing Rs. 96.20/- per litre. Traditionally it has been noticed that whenever there are election season ahead in India, ruling political parties might influence local Chandigarh petrol rates, in order to have a favorable result attracting high vote share ahead.
In India fortunately, global changes in demand and supply has minimal impact on local petrol rates as the government regulates the sector and ensure both private and public institutions stay away from creating a monopolistic market situation. However, Chandigarh petrol prices today are remaining stable due to the policies and regulatory control of the central government on petrol producing corporations of the country.
Global energy traders currently expecting tomorrow's US GDP quarterly growth to have a directional influence on commodity commodity segments. The US dollar index globally is moving cautious at weekly low range, which might support crude oil demand today. However, except for US and UK, the bond yields of major economies trade in green posing a threat for local petrol rates in Delhi and major cities of India.
MCX Crude Oil Futures maturing next month are currently trading at Rs 143.1/-, which is 14.67% or Rs 24.6/- lower than Monday's closing.
28 February 2024
The petrol prices are balanced in Chandigarh despite a marginal fall in the global crude rates on growing demand worries. The petrol rates in Chandigarh were recorded at Rs 96.20 per litre.
In the overseas forum, Brent stood at $85.62 per barrel, down by 0.89% and West Texas Intermediate (WTI) at $78.89 per barrel, down by 1.04%.
The oil prices witnessed a marginal drop on Monday’s trade session after witnessing a surge in the previous session, as investors focus on the short-term demand concerns which are stemming from the release of the U.S. inflation data and refinery Maintenace in Asia and the United States of America.
An analyst from OANDA notes that the crude prices are softening as energy traders are forecasting a potentially weak fuel demand in the coming days and this might force the Fed to tighten the policy stance much more aggressively.
He further added that this week could deliver a make-or-break moment in how bad of a recession, the Wall Street Prices are in.
Meanwhile, China’s oil demand recovery is curbing its gasoline exports in February. Though its refiners are maintaining diesel shipments of over 2 million tonnes.
Russia announced its plans to trim down crude production in retaliation against western curbs on its oil imports which were imposed in response to Moscow's invasion of Ukraine.
Russia is likely to cut output production by 500,000 barrels per day (bpd) in March, accounting for around 5% of the output. Last week Russia’s Deputy Prime Minister Alexander Novak noted about country’s intention to trim down crude output, bolstering the fuel prices to march up.
13 February 2023
