The US increased its inventories by 1 million barrels in the last week as per data published by the American Petroleum Institute. Meanwhile, the rupee weakened against the US dollar in early trade, which is when the daily revision of petrol and diesel prices happens in India. 2020 DOE Regional Diesel Fuel Prices ... DOE's regional averages are drawn from its weekly national survey of 350 diesel service centers. The daily price update is carried out, considering the currency exchange rate between the US dollar and the Indian Rupee and foreign crude oil. The OMCs hold a certain margin and distribute it to the distributor (petrol pump owner). Thus, any strain on all of the OPEC’s members also leads to a decrease in the production of oil and a resulting decline in crude prices. The current diesel price in Bengaluru is ₹ 79.92 per Litre. Crude oil is then extracted and distilled to obtain diesel. Diesel Price in Bangalore Rural Today (22nd Jan 2021) - Rs. Super 98 petrol will cost Dh1.91 a litre, while Special 95 petrol will cost Dh1.80 a litre. Pound Sterling. PRICE CHANGE. The international fuel rates are therefore going to hover around $75 per barrel mark for a while. How diesel prices in Bangalore play out in the coming days is hard to predict under such prevailing uncertainties. The prices of diesel, the liquid fuel is increasing on a day-to-day basis in Bangalore. Global benchmark Brent was down 1 percent to $76.75 per barrel while WTI fell by 1.8 percent to $65.81. In June 2017, the "dynamic fuel pricing" approach was introduced. As we know it today, Bengaluru is one of the nation's rapidly increasing cities with a metropolitan atmosphere. A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification. As per the new rule implemented in India starting from June 16, 2017, the prices of petrol and diesel are set to a revision on a daily basis -daily morning at 6 am. We have been seeing an uptick in global crude prices, which has also pushed diesel rates in Bangalore higher. The decision is not finalized and even if it were to, it would take a while before the current deficiencies in supply for crude oil are eased. Supermarket prices for unleaded now average 110.6 p/litre.The gap between supermarket prices and the UK average for unleaded has shrunk to 4.5 p/litre. Petrol and Diesel prices today, 27 June 2020: Petrol and Diesel prices have continued to hike for last twenty-one days after the petroleum companies started its … The movement or change in the Diesel price will be very low if it is changing every day such as the price change will be in paise. Diesel price in Bangalore was hiked by 22 paise per litre to Rs 69.93 on Friday. Today’s price of diesel in Bengaluru is Rs 68.73 per liter. Lowest – Northern Ireland has the cheapest diesel at 114.3 p/litre. Checking the diesel rate in Bangalore is important because any cost reduction will save you some fuel. The steep fall was an effect of the news that OPEC and its allies would increase production. provides the latest fuel price information from all major Indian states and cities. Diesel price in Bangalore increased by 16 paise to Rs 68.98 per litre after the daily revision by state-owned oil marketers like IOC. What was the diesel price in Bengaluru over the last 3 months? Pound Sterling with a minimum of 1.17 U.K. Due to different charges and local taxes in the state, each city's rates can differ slightly. Petroleum Companies such as Bharat Petroleum, Hindustan Petroleum, Shell, etc., will fix Diesel price every day and give the new price at 6 AM every day. Via SMS: Type RSP DEALER CODE and send it to 9224992249. Fuel prices in India are affected by international crude rates, strength of the rupee and tax rates. The oil price is also influenced by any incident, such as environmental hazards or any global instability. It had hit its 3 and half year high of $80.50 last week. In Bangalore, diesel prices reduced further due to a change in some local guidelines as well. Find Current Bangalore Diesel Price in rupees per liter (Rs/Ltr) The price of petrol was increased by 55 paise, rising the cost to Rs 78.88/litre and the price of diesel was hiked by 63 paise bringing the cost to Rs 77.67/litre in the national capital. Latest report. The oil PSUs in India has passed on the four weeks of the relentless rise in the international oil prices to consumers, which is currently hurting the consumer's pockets. Diesel Price in Mumbai Today (21st Jan 2021) - Rs. 17 Feb 20 ₹ 68.18 ₹ 0.00. The fuel used in long-distance vehicles has been up by Rs 2.88 in the last 12 days. Clashes could eventually tie up supply in some of the oil-producing regions and therefore boost oil prices. Diesel prices: We show prices for United Kingdom from 12-Oct-2020 to 18-Jan-2021. Diesel prices have gradually increased during the second week and the highest diesel rate for the first two weeks stood at Rs.66.11 a litre on 14th. This means that the volatility of the oil rates is being passed on to the consumers. Now Bangalore 's diesel prices are updated regularly based on the process of 'Dynamic Fuel Pricing.' This is the fifteenth day of hike in the rates. Italy's political turmoil that has caused the euro to hit a 10-month low, has, in turn, benefited the US dollar, making oil expensive for other currencies. diesel price hike in Bengaluru is well represented in the chart given above along with other fuel prices of Bengaluru. So, if you are in a country with high fuel prices (see the global rankings for gasoline and diesel), an increase/decrease in oil prices from, say, 60 to 70 USD per barrel would lead to about 5 percent increase/decrease in fuel prices. Also, prices of the petroleum product have now been aligned to market rates. In India, the Kerala state government announced a deduction of Re 1 in the price per litre of petrol and diesel in the state by making a cut on VAT collected on fuel to reduce the burden of consumers. Petrol, Diesel Price: Domestic petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to value added tax (VAT). The prices of diesel stood at Rs 59.12 during November 27, 2018, in Bengaluru. Click here to see what the Diesel price revision in Bangalore was in the month of January 2020: Check what is Diesel price in current time in Bangalore, Karnataka at Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation(HPCL), Essar Oil and Shell India petrol bunks today on 14-Jan-21 The American currency gained from the reviving hopes of US-North Korea historic summit that is scheduled to take place in Singapore in June. In the International Markets crude oil price change on a daily basis and the petroleum companies in India will change the price depending on those prices. The key purpose of this mechanism is to simplify the price of diesel so that officials may not be able to regulate or manipulate the OMC (Oil Marketing Companies), as dynamic fuel pricing has been adopted across every city of India including Bangalore. This means diesel price in Bangalore will rise each time, global crude prices rise and the rupee falls against the dollar. Petrol and diesel prices today 14 June 2020: Petrol and diesel prices continue to rise on Sunday for the eighth consecutive day after the oil companies started revising the prices. A rise in fuel prices automatically pushes inflation and increase the cost of living in the Silicon Valley of India as consumer goods are transported in diesel running vehicles. Diesel rates in Bangalore are in line with most other cities in India. What was the diesel price in Bengaluru over the last 1 year? Under the 'Dynamic Fuel Pricing' framework, diesel price variations are related to the regular adjustment of the fuel prices in the nation. What was the diesel price in Bengaluru over the last 6 months? Geopolitical Affects- Political activities and uncertainties are related to a spike in the price of crude oil. 10 Feb 20 ₹ 68.55 ₹ 0.16. The Indian government is, however, looking for ways to reduce the burden on citizens. Kia Sonet is a SUV, offered with a choice of 1197 cc, 998 cc Petrol and 1493 cc Diesel engine options. Sat 19, December 2020: Rs 78.31. When prices are weaker, these countries typically stock up, and supply is distributed across the market to keep prices stable. 82.13 per litre, also find the current diesel price with historical diesel rates in Mumbai from Goodreturns. The prices of diesel are gradually increasing due to the rise in the prices of crude oil, which hit an all-time high of $80 per barrel during last week. This price will be set by the Petroleum Companies on daily basis. October 2020. Cost of crude oil- Crude oil is obtained from multinational oil trading companies by Indian oil traders. And the cost after the introduction of the Central Excise and VAT, which differs from state to state, applies to the commission of the distributors. Diesel price in Bengaluru over the last 1 year was ₹ 69.69 per litre. /Ltr Click here to see what the Petrol fee in Bangalore was in the month of July 2020: Click here to see what the Petrol amount in Bangalore was in the month of June 2020: Click here to see what the Petrol payment in Bangalore was in the month of May 2020: Click here to see what the Petrol selling price in Bangalore was in the month of April 2020: The decline in international crude oil prices has finally started showing in the fuel rates in India, although quite marginally. Diesel Price in Bangalore - 07/01/2021; Date: Price (1ltr) 08/July/2020 ₹ 76.79: 07/July/2020 ₹ 76.58: 06/July/2020 ₹ 76.58: 20/May/2019 ₹ 68.26: 24/January/2019 ₹ 68.07: 22/January/2019 ₹ 69.62: 14/January/2019 ₹ 66.29 The amount is paid in USD, which is the regular currency, as it is processed on foreign exchanges. Diesel price in Bangalore was up by 14 paise to Rs 70.50 per litre in daily revision. Fuel rates across the country at their all-time highs. While global oil benchmarks are trading higher, the taxes paid to the Karnataka and central government in the form of excise duty, VAT (value added tax) and surcharge are also significant. The UAE on Tuesday announced fuel price for the month of July 2020. The average value for United Kingdom during that period was 1.19 U.K. Fuel prices in India are affected by the change in International crude oil benchmarks. Tax system- The Federal Excise Duty (conveyed by the central government) and the VAT (Value Added Tax) are two different taxes in effect. Meanwhile, crude oil prices internationally have eased after Russia indicated that it will gradually increase its production. The current diesel price in Bengaluru is ₹ 81.08 per Litre. Click on the Menu icon of the browser, it opens up a list of options. Previously, petrol rates were updated every two weeks, or 15 days. August 2020. Reduced supply from oil rich countries and strong demand had pushed the fuel prices higher globally in the past few weeks. Aspects such as entry duty, freight costs, refinery costs, oil company's margin and transportation are assessed during the refining phase before landing at the standard fuel bill. To Start receiving timely alerts please follow the below steps: ₹ Current Bengaluru diesel price per Litre is taken from Hindustan Petroleum Corporation Limited. Following the news, WTI crude fell by 4 percent to $67.88 per barrel from its week's peak of $72.83, while benchmark Brent was down by 3.1 percent or $2.42 to $76.37. These duties refer to the prices offered to the dealer of the fuel bunker. Diesel price in Bangalore was revised to Rs 70.30 per litre on Saturday, down by 9 paise from Rs 70.39. After the strategy is imposed across the nation, this framework continues to be adopted by all metropolitan areas, including Bangalore for a regular price modification. Future Supply of Crude Oil: In the case of an rise in oil prices, the leading oil-producing and oil-consuming countries stockpile vast amounts of crude oil to sustain a stable economy. Scroll down the page to the “Permission” section . 1.79; 16 November 2016 Diesel Price in Bangalore decreased by Rs. ( ₹ 0.26. Price is always getting changed frequently so you check before filling in your vehicle. This strategy was planned to adjust the price of diesel or petrol on a daily basis across India. -2.91; 17 December 2016 Diesel Price in Bangalore increased by Rs. 9 Feb 20 ₹ 68.71 ₹ 0.21 . Diesel price in Bangalore was lowered by one paise from Rs 70.50 to Rs 70.49 per litre. While the central government did not make any attempts to control fuel rates that hit an all-time high last week, Kerala was the first state to take an initiative. Supply and Demand of Crude Oil: The Organisation of Petroleum Exporting Countries ( OPEC) and its broad associates have become the world's main sources of crude oil, impacting oil prices to a great level. Updated: June 23, 2020 12:41 pm IST. Oil prices abroad weighed down after a sudden rise in US crude inventories and on continued expectations on OPEC (organization of the petroleum exporting countries) increasing their output in their June meeting. Diesel price in Bengaluru over the last 3 months was ₹ 75.04 per litre. The easing tensions between the countries have made the dollar attractive to investors, pushing its value further. Last 30 Days Diesel Rates in Cachar. Here click on the “Privacy & Security” options listed on the left hand side of the page. September 2020. International demand for distillate fuel affects U.S. diesel fuel prices. This is mainly done to sync in the domestic prices of the liquid fuel with the international prices which is beneficial for both the consumers as well as the government. Diesel will cost Dh2.06 a litre. Diesel Price in Bangalore Today (21st Jan 2021) - Rs. The Rates are calculated on ‎‎December 5th, 2020. Indian oil companies have offered many methods to track diesel prices at no hidden expense, such as smartphone applications, SMS facilities, and customer support. 76.81/Ltr. Let's analyse the factors that drive the international demand for crude oil prices. Checking Diesel price before filling your fuel tank has become an important thing now because, from June 15, 2017, as the diesel price are to be revised on a Daily basis. Bengaluru diesel price chart gives the historical price record of diesel in the form of graphical representation from over a month up to a year. Use of distillate fuel for electric power generation in man… The price rise was despite the drop in crude oil prices internationally. Before this prices were revised every fortnight. Fuel Prices Today: Petrol, diesel price hiked for 5th day in a row. The same variables are also relevant to all cities in India. Many countries rely more heavily on distillate fuels, especially diesel fuel, than the United States does. 8 Feb 20 ₹ 68.92 ₹ 0.25. The individual aspects that impact the retail selling price of diesel in Bangalore are as follows. TODAY'S PRICE. The rise in rates is, however, lower than the average hike of 23 paise per litre of diesel this week in the city. The highest Diesel price in India in 2020 was ₹ 77.05 per litre was recorded in Malkangiri on 31 December 2019. Petrol price in Bangalore dropped by 5 paise to Rs 70.44 per litre after the daily revision on IOC's (Indian Oil Corporation) website from a fall in international crude oil prices. Domestic petrol and diesel are determined broadly by global oil prices and forex prices. Europe uses about one-fourth of the world's distillate fuel and is a significant contributor to world distillate demand. Petrol and diesel prices are updated on a regular basis, synchronized with global rates , meaning that Bangalore 's diesel prices will rise as global crude oil prices rise as well as the rupee drops in value against the US dollar. It has increased by Rs 1.38 per litre in a week. Diesel Price in Bangalore today is Rs 78.31 per Litre. Brent crude was trading at around $75 per barrel on Wednesday, almost $5 lower than its three and a half year high of $80.50 per barrel on May 17. State-owned oil companies had started the practice of revising fuel rates on a daily basis in June 2017. Due to reduced production in oil-rich countries, diesel prices in Bangalore may only find relief if the taxes are controlled by the governments. The Sonet on road price in Bangalore ranges between ₹ 8.19 - 16.30 Lakh. Assam. The current diesel price in Bengaluru is ₹ 81.08 per litre. Diesel Price in Chennai - 07/12/2020; Date: Price (1ltr) 08/July/2020 ₹ 77.91: 07/July/2020 ₹ 77.91: 06/July/2020 ₹ 77.72: 05/June/2020 ₹ 53300.00: 03/February/2020 ₹ 50000.00: 20/May/2019 ₹ 69.88: 24/January/2019 ₹ 69.62 Bengaluru diesel price chart gives the historical price record of diesel in the form of graphical representation from over a month up to a year. There was no hike in the prices of diesel during the election period, post-election the prices of diesel is rising and it may reach beyond Rs 80 per liter in the near future. The RTP is what is billed to the refineries by OMCs (Oil Marketing Companies), such as IOCL, BPCL & HPCL. If you are in a country with about average fuel prices, the change would be double – about 10 percent. The price of fuel in Delhi were hiked for the 14th day in a row by the oil marketing companies on Saturday (June 20, 2020). Highest Diesel Price in December in Bangalore ₹ 78.31 Lowest Diesel Price in December in Bangalore ₹ 76.77 Average Diesel Price in December in Bangalore ₹ 78.08 Opening Diesel Price in December in Bangalore (01 Dec 2020) ₹ 76.77 Closing Diesel Price in December in Bangalore (31 Dec 2020) ₹ 78.31 There are also recommendations to bring fuel under the GST (goods and service tax) regime, to regulate the rates across the country. Today Diesel Price in Bengaluru ( 31 October 2020 ): Update with current Bengaluru Diesel price & also check daily Diesel price hike & drop details from December 2020. They were at $75.09 per barrel and $66.22 per barrel. Diesel Prices in India Assam Diesel Prices in Cachar. 7 Feb 20 ₹ 69.17 ₹ 0.25. Thus, the distributors of fuel stations can now conveniently handle their resources and capital by taking this system into consideration. To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar. Petrol Price in Bangalore Today (21 January, 2021) is Rs. State-owned Oil Marketing Companies (OMCs), such as Bharat Petroleum, Indian Oil and Hindustan Petroleum, set the latest diesel price of Bangalore in accordance with any adjustments in international crude oil markets. Diesel fuel use for transportation worldwide, especially in China, has increased world distillate demand as economies expand. DATE. More relief can only be expected from a cut in central and Karnataka taxes. 80.13 per litre, also find the current diesel price with historical diesel rates in Bangalore Rural from Goodreturns. Thus, the main reason why diesel prices fluctuate in India is because of these two reasons. OPEC's objectives are primarily influenced by geopolitical trends. As on June 2017, Petrol prices in India are revised daily, and this is called the dynamic fuel price method. As a city highly dependent on road transport, the rise will impact costs incurred by transport companies which will ultimately be passed on to final consumers. July 2020. 0.00; 25 June 2017 Diesel Price in Bangalore decreased by Rs. We Provide daily updated Bangalore Diesel rates and try to give you best information. Due to inability, the Diesel price used to get updated for two weeks or fifteen days once. 88.07 per litre, also check out recent petrol prices in Bangalore along with the price history at DriveSpark. Diesel. International crude oil rates were mixed today with Brent futures experiencing a marginal hike of 0.28 percent to $75.51 a barrel while WTI fell by 1.64 percent to $66.77 a barrel. Most of the cities including metro cities, state capitals of India are covered here and a chart of every fuel like petrol, diesel, auto gas, cng and lpg is created including diesel price chart of Bengaluru. You can conveniently find the latest diesel rate of Bangalore instantly from the convenience of your residence or workplace by dialling the below toll-free numbers of the oil companies. Bangalore 's latest diesel price takes effect from 6:00 am IST every day. Petrol and diesel prices were increased on … International crude oil rates and domestic taxes along with processing fee makes up for the price you pay at your local bunk in Bangalore. Pound Sterling on 09-Nov-2020 and a maximum of 1.22 U.K. diesel price chart of other cities can be explored from the links given below. Today's (20 June, 2020) Diesel Price In Cachar Is Rs. Do you want to clear all the notifications from your inbox? 13 Feb 20 ₹ 68.3 ₹ 0.05. 81.10, Petrol, Diesel Rates Touch New Highs As Oil Prices Continue To Climb, Petrol, Diesel Rates Hit New Highs, Prices Up By 1 Rupee This Week, Petrol Prices Hit New Highs; Crosses Rs 92 Mark In Mumbai For The First Time, Petrol Surpasses Rs 85/Litre; Pradhan Says Low Production Raising Prices, Petrol, Diesel Prices Hit New Record Highs In Delhi, Petrol Crosses Rs 91 In Mumbai As Crude Oil Prices Hit 11-Month High, Crude Oil Price Hits 11-Month High On Saudi Arabia's Output Cut; Unaffected By US Riots, Petrol Prices In India Hit New All-Time High. Top Indian Oil Firms have developed several methods for monitoring daily diesel rates in Bangalore. You can find price from all major fuel retailers in your city. Temporary relief can come if taxes, which make up for a large portion of the final price is slashed to some extent. Petrol Price in Bangalore Today: The price of Petrol in Bangalore is at Rs 88.33 per litre Today. November 2020. The hike despite easing prices says that the oil marketers are still recovering from their losses and it would take a while before the diesel rates are stabilized in Bangalore. 0.00; 01 April 2017 Diesel Price in Bangalore decreased by Rs. 79.94 per litre, also find the current diesel price with historical diesel rates in Bengaluru from Goodreturns. By retaining fuel prices in India comparable to the international price of crude oil, oil companies are able to cover any losses and add on any benefits to customers. Before this process, oil firms modified fuel prices per fortnight, that was before the implementation of the regular revision in the country on 16 June 2017. Petrol is set for the sharpest increase, whereas diesel prices are moving up slightly, too. Renault Triber is a Hatchback, offered with a choice of 999 cc Petrol engine options. The Triber on road price in Bangalore ranges between ₹ 6.40 - 9.13 Lakh. Cachar. By adopting the dynamic fuel pricing methodology since June 2017, through their smartphone apps and websites, oil companies are regularly updating Bangalore's diesel rate. Apart from the oil price and the rupee-dollar exchange value, diesel prices in Bangalore are composed of many significant components. The fall has been from the rise in US oil production which is edging closer to that of Russia. Crude oil prices, also referred to as the Refinery Transfer Price (RTP), are subject to freight and processing fees. After today's revision, diesel price in Bangalore stands at Rs 69.51 per litre. Diesel in Bangalore was revised to Rs 70.36 per litre as per state-owned IOC's website. What was the diesel price in Bengaluru over the last 1 month? Benchmark Brent slipped by 20 cents to $77.30 per barrel while WTI was also down by 20 cents to $68.01 per barrel. Heating oil and diesel fuel are distillate fuels. Petrol and Diesel prices today, 25 June 2020: Petrol and Diesel prices are increasing from last fifteen days as the petroleum companies are revising the charges day by day. For comparison, the average price of diesel in the world for this period is 0.86 U.K. Once the changes is done, click on the “Save Changes” option to save the changes. International rates have been falling since late Friday when Russia and Saudi Arabia said they would increase their output to help stabilize prices in the market. diesel price hike in Bengaluru is well represented in the chart given above along with other fuel prices … Taxes rates have been consistently high since 2014, on account of social welfare expenses incurred by the central government. FORECAST PETROL PRICE FOR JUNE 2020. It includes Karnataka state VAT (value added tax) and sales tax apart from excise duty imposed by the central government. Click on the “Options ”, it opens up the settings page. Diesel price in Bengaluru over the last 6 months was ₹ 76.44 per litre. Diesel Price in Bangalore (12th November 2020) - Know Today's Diesel Rate in Bangalore. The average diesel price in Bangalore, the capital city of Bangalore, for the first five days of the month stood at Rs.65.87 a litre. Consequently, diesel prices in Bangalore are based on different factors, such as prices of crude oil and production costs. Russian energy minister said that his country and a group of oil-rich countries will increase their production in the coming days. Now the things have changed and Diesel price will be changed every day and there will be a new price every day. Hence, just follow the simple steps listed below to track Bangalore's latest diesel price via SMS and toll-free numbers. Fuel rates have been down by 21 paise in 4 days. Supermarkets. Likewise, prices also decrease as there is additional production of oil. Geopolitical tensions between Iran and the US also triggered it. Updated Prices for Petrol from 23 Jan 2021 to 29 Jan 2021 are: RON95 : RM1.90 per litre (+1 sen) RON97 : RM2.20 per litre (+1 sen) Diesel : RM2.09 per litre (+4 sen) Diesel rates also impact your daily expenses like grocery shopping as most vehicles used for its transportation run on the same fuel. It has been the fourth day of correction in diesel rates in Bangalore. The price can be expected to ease in the coming days. Diesel price in Bengaluru over the last 1 month was ₹ 76.14 per litre. Todays diesel rates in Bangalore are very sensitive to global crude prices. Since most of those components' paid are not volatile, the international crude oil price and the rupee-dollar exchange rate are volatile. The commission of the operator of the petrol pump, the excise duty imposed by the Centre and the local tax or VAT of the relevant state are later applied to the basic fuel rate. Oil firms foresee the fortnight average price of crude oil including the rupee-dollar exchange rate to set the price of diesel or petrol for retailers. Amid the fall, there have been concerns over the widening gap (premium) between WTI futures and Brent that surpassed $11 on Thursday, marking a new 3-year high. Diesel Price changes history in Bangalore.. 02 July 2017 Diesel Price in Bangalore decreased by Rs. What is the current diesel price in Bengaluru? The losses from the halt are estimated to be Rs 500 crore for oil marketers as during the period the international crude oil benchmarks Brent and WTI were rallying.On Monday, however, Brent was trading 6.4 percent lower than its month high while WTI was 9.1 percent lower than its peak. If the rupee falls further, petrol prices in Bangalore may be hiked again. The fall comes after 16 straight days of relentless rise. The price of the crude oil in the International Markets will be influenced by various reasons. Here click on the “Settings” tab of the Notification option. RSP (Retail Selling Price)- The retail selling price (RSP) of Bangalore is primarily influenced by crude oil prices, the currency conversion rate between the US Dollar and the Indian Rupee, and taxes. Petrol and diesel rates are revised at 06:00 a.m. every day. Prices were frozen for 3 weeks prior to May 14, what appeared to be a pre-election strategy in the Karnataka state. On the other hand, however, seasonal fluctuations, weather predictions, foreign demands, global political activities, geographic outlays and surplus, and the currency exchange ratio affect the purchase price of unrefined crude.

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