Petrol Price in Chennai: 16 May 2021

Price of Petrol is calculated based on various factors such as the movement of the currency and fall in rupee against the dollar. Oil marketing companies in India buys crude oil from foreign suppliers at benchmark rates. There are various factors has been considered to calculate the actual cost of Petrol in India. They are as follows,

Delivery price at refinery

Brent Crude’s daily price

Here is how the actual cost of petrol is calculated,

Step 1: Convert US dollars to Indian rupee

Step 2: Divide the rupee by the number of litres of oil

The price of crude oil is calculated as mentioned above. Alright! Here is what is happening after buying the crude oil from foreign suppliers.

After buying the crude oil from foreign suppliers, it is then transported to various refineries in India.

Later, the crude oil is separated into different products such as coal tar, diesel, petrol, and more in the distillation towers of the 20 refineries in India.

After the separation process of petrol from crude oil, it will be stored in the storage tanks of oil companies.

This is how petrol is separated from the crude oil and the following section explains the factors used to calculate the petrol price.

Distillation cost

Cost of Refining

Crude Custom levy charges

Transportation charges from ports to the refinery

Cost of transportation from refineries to oil companies tanks

In addition to the above, the petrol price includes the following,

Commission of a dealer

Excise duty

Value-added Tax (VAT)

Taxes

Total duties.

Read further to know the importance of checking Petrol Price in Chennai regularly.

It is all-important to check petrol price today if you're going for a long ride or drive. This is because more litres of petrol is needed for a long drive. Hence, even a small variation in Petrol Price today will lead to a big loss. The current petrol rate is either high or low when compared to other places across India. Sometimes, the petrol price varies from one Chennai to another. This is due to the VAT charged by the various state government is higher compared to other states includes Uttar Pradesh, Jharkhand, Delhi, Chhattisgarh, Haryana, etc. Hence, it is crucial to check the live petrol price today in India. FreshersLive gives the revised Petrol Price in various Chennais such as Madhya Pradesh, Maharashtra, New Delhi, Mumbai, Kolkata, Goa, Andhra Pradesh, Karnataka, Kerala, Jammu & Kashmir, Rajasthan, Uttar Pradesh, Punjab, Himachal Pradesh, and so on in India. You can find the exact Petrol Price today in India. Have a hawk-eye on this page to get latest updates on Petrol Price in Chennai.