Petrol Rate in Chennai Today

Here is everything you need to know about the live petrol price in Chennai. You can also take a look at the different factors that determine and impact the petrol price in Chennai.

What is the Petrol Price in Chennai Today (Live)?

Factors Determining Petrol Rate in Chennai

There are several factors that go into determining the price of petrol in Chennai. The first is the price at which crude oil is imported. As the transaction occurs in US dollars, the present-day currency exchange rate amplifies the cost. Next, when the purchased oil is sent to the oil marketing companies (OMCs) to refine it into petrol, they add certain charges. These include the refining costs, freight charges, transportation charges, commission, etc. The refined petrol is then sold to the dealers, who add their commission along with the Tamil Nadu state and central taxes and other applicable charges. This is the final price of petrol that you are required to pay. The excise duty charged by the Centre on petrol is ₹32.90 per litre while the Value-Added Tax (VAT) charged by the Tamil Nadu state government is ₹22.84 per litre.

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How Often is the Petrol Price in Chennai Revised?

In Chennai, the petrol price is revised every day as per the dynamic fuel pricing policy that was introduced in June 2017. The change comes into effect at 6 AM, when dealers across the city update the price of petrol as per the amount set by the OMCs, and after adding their operating charges to it. As a result, the petrol price in Chennai tomorrow can be different (higher/lower) than the petrol cost in Chennai today. You can find the current price displayed at petrol pumps as well as updated on the websites of the prominent OMCs.

Impact of GST on Petrol Rate in Chennai

While GST (Goods and Services Tax) was levied on most goods and services since it came into effect in July 2017, petrol was kept out of its ambit. As a result, the tax charged on petrol in Chennai is not impacted by GST.

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