Analysis of India’s petrol and diesel price data

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It’s been more than a month that the prices of petrol and diesel¬†change on a daily basis in India. I’ve been collecting the data for this as part of the app – Oil ka Rate which shows current prices with the trend for petrol and diesel.

Let’s see how the prices have been changing throughout the country. Do note that the data is from Indian Oil Corporation which has information only for state capitals and metros and also that the following analysis is for a particular time window.

Cheapest and Costliest Rates

Diesel: Port Blair and Aizwal have the cheapest rate on an average where as Bhopal and Gandhinagar have the costliest rate. There is a difference of almost Rs 9 between the costliest and cheapest rates.

Petrol: Port Blair and Panjim have the cheapest rate on an average where as Mumbai and Bhopal have the costliest rate. There is a difference of almost Rs 19 between the costliest and cheapest rates. Mumbai has a significant gap between it’s rate and the 2nd costliest rate of almost Rs 4.

 

 

It would have been convenient if one could drive to Port Blair from the mainland ūüôā

Places with maximum variation in prices

Diesel: Bangalore and Patna have shown the maximum change in price which is around Rs 3

Petrol: Bangalore at Rs 4.7  and Patna at Rs 3.2 have shown the maximum changes.

Bangalore overall has the maximum variation in its prices.

 

Trend of the prices for major metros

Diesel: We can see that two cities have had a significant drop in their diesel prices – Mumbai on July 11th 2017 and Bangalore on July 1st 2017. The prices in remaining metros have gradually increased with Hyderabad being the costliest.

 

Petrol: Similar to diesel, Mumbai and Bangalore have had the most significant drop in prices on the same respective dates. Although the prices for Mumbai dropped, there is still a significant difference in its petrol price compared to other metros. The prices in the remaining have been more or less consistent.

Delhi is the cheapest followed by Bangalore.

Correlation between prices of different places

Diesel: Th correlation matrix below shows the correlation between the prices of different places.¬†If the cell is blue then the price changes between the two cities are similar and if it is orange to red then the price changes are in the opposite direction. By looking at the matrix, we can see that most of the places¬†change their price in a similar pattern except two cities – Mumbai and Bangalore which is mainly due to their significant dip. We can also see that some of the places are perfectly correlated like Gurgaon, Aizwal, Imphal, Hyderabad, Jullunder, Port Blair, Shillong, Ambala, Patna, Itanagar, Kolkata… to name a few.

Petrol:  The patterns are more or less similar to diesel. Bangalore is more positively correlated to other places in terms of petrol.

Conclusion:

Port Blair has the cheapest petrol and diesel whereas Bhopal is quite expensive. Mumbai has the costliest petrol and at a rate significantly higher than other cities. Bangalore has shown the maximum variation in petrol and diesel rates. Prices in most of the places in India changes in a similar manner.