Petrol Price in Tamil Nadu

Tamil Nadu is one of the most popular south Indian states located at the southernmost part of the Indian Peninsular. It is one of the seventh most populous states in the country. The petrol prices in Tamil Nadu is changed on a regular basis and hence it is necessary for everyone to check the petrol prices on a daily basis. The petrol prices in Tamil Nadu fluctuates on a frequent basis in sync with the international crude oil prices. The recent fall in the value of rupee against dollar has led to the increase in the petrol prices.

How to Compute Petrol Prices in Tamil Nadu?

The petrol price in the state of Tamil Nadu can be calculated using the following method.

Retail Selling Price of petrol = Cost Price of crude oil + OMC costs + price charged to dealers + fuel costs before adding VAT

The cost of the crude oil is the actual price paid by the state-run oil marketing companies in India to procure crude oil from foreign oil marketing companies. The cost of crude oil is divided equally by 159 to arrive at the cost of crude oil litre. 1 barrel of crude oil is equal to 159 litre. Before arriving at the final price of the crude oil, freight expenses are also included.

The oil marketing companies in the country incur operational expenses, freight charges, refinery processing costs, transportation costs, entry taxes, freight expense, freight charges. The prices charged to the dealers includes the central excise duty imposed by the central government on the petrol prices.

The customer has to bear the following costs as a part of the price at the time of purchase of petrol and it includes the cost of the crude oil, prices charged by dealers, expenses by oil marketing companies, the state levied VAT, pollution cess.

Taxes on Petrol In Tamil Nadu

Like most of the states in India, the state of Tamil Nadu has a fixed tax rate which is levied on petrol before arriving at the selling price. The tax rate on petrol stands at 32.11% in Tamil Nadu. The tax rate levied on petrol differs from that of diesel and the same is prevalent across the country. The tax rate is one of the reasons behind the change in the prices of petrol in different cities.

Today Petrol Rates in Chennai

Petrol rates in Chennai rose from Rs 74.03 on Jan 28, to Rs 73.94 on Jan 29, 2019.

Compared to yesterday the petrol price in Chennai moved lower by 0.09 paisa. Petrol prices in various Indian cities daily changes at morning 6 am. Previously petrol price in Chennai used to change 15 days once and there are more than 300 petrol bunks in Chennai, where they change now. The fuel price is inclusive of central excise duties and Tamil Nadu state VAT taxes and there is a slight price difference between petrol bunks.