Petrol Price Today:- Petrol is an essential commodity used for transportation purposes, whether for commercial or personal use. The price of petrol at petrol pumps is determined by state-owned Oil Marketing Companies (OMCs) such as Bharat Petroleum, Indian Oil & Hindustan Petroleum, under the supervision of the Petroleum Planning and Review Cell (PPAC) under the Ministry of Petroleum & Natural Gas.
In India, petrol prices are updated daily, with changes implemented at 6:00 a.m. This allows even the slightest variation in global oil rates to be reflected in the prices for fuel purchasers and dealers. The price of petrol includes components such as excise duty, value-added tax (VAT), and dealer commission. VAT varies from state to state. After adding these factors, the market selling price of petrol nearly doubles. It is crucial for individuals to check the current petrol price to stay informed about the price per liter and make informed purchase decisions. Various factors influence the rate of petrol.
Petrol Rates Today 2024
- 1 Petrol Rates Today 2024
- 2 Petrol Price Record On State Wise
- 3 City Wise Petrol Price
- 4 Check Current Petrol Prices in India on OMC website
- 5 How can I check the current petrol price in India?
- 6 Conclusion
Fuel rates in India are revised daily at 6:00 a.m. This practice, known as the dynamic Petrol price process, has been in effect since June 2017. It ensures that even the smallest fluctuations in global oil rates are reflected in the prices for fuel customers and traders. Previously, fuel rates were adjusted every fortnight. Several factors impact the fuel rates, including the exchange rate between the rupee and the US dollar, the price of crude oil, global market trends, demand for fuel, and more. When international crude oil prices rise, fuel rates in India also increase. VAT (Value Added Tax) varies from state to state. After adding excise duty, dealer commission, and VAT, the final selling price of petrol becomes significantly higher.
Factors influencing petrol rates in India encompass the cost of crude oil, demand, taxes, exchange rates between the rupee and the dollar, and the utilization ratio of refineries. Prominent oil marketing companies in India include Reliance Industries, Essar, Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum. The market rate of petrol is determined by the price at which dealers/distributors purchase from OMCs (Oil Marketing Companies), plus exci se duty, dealer’s commission, and VAT. It’s important to note that fuel prices such as petrol are not subject to the Goods and Services Tax (GST).
Petrol Price In India Today 2024 Details
|Article For||Petrol Rates Today State Wise List 2024|
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Petrol Price Record On State Wise
The table below displays the current petrol rates in different states across India. This information can help you identify the state with the highest and lowest petrol prices in the country. By referring to the table, you can easily determine the state with the highest and lowest petrol prices in India today.
|Andhra Pradesh||110.48 ₹/L||-9.52|
|Himachal Pradesh||97.58 ₹/L||+0.29|
|Jammu And Kashmir||99.81 ₹/L||+0.22|
|Madhya Pradesh||108.67 ₹/L||0.00|
|Tamil Nadu||103.09 ₹/L||0.00|
|Uttar Pradesh||96.53 ₹/L||0.00|
|West Bengal||106.03 ₹/L||0.00|
|NCT Of Delhi||96.72 ₹/L||0.00|
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City Wise Petrol Price
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Check Current Petrol Prices in India on OMC website
|Oil Company||Website||Tab to Click on Homepage|
|Hindustan Petroleum||www.hindustanpetroleum.com||Pump Locator|
|Bharat Petroleum||www.bharatpetroleum.in||Pump Locator|
|Indian Oil||www.iocl.com||Pump Locator|
Factors Affecting Indian Petrol Prices Today
There are many factors that affect gasoline prices in India. Major drivers of gasoline prices in India include world crude oil prices, domestic production and distribution costs, and taxes.
Logistics is a crucial factor in determining fuel prices. The cost of transporting fuel from storage locations to different regions impacts its price. Global events affecting oil rates also contribute to the variation in petrol costs across India. For instance, on January 24, 2018, the price of petrol in Delhi was Rs. 72.38 per liter, while in Mumbai it was Rs. 80.25 per liter. The distance and logistics involved in delivering fuel to various areas can cause price disparities in different regions of the country.
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Taxes have a significant impact on the price of petrol. The quality of fuel and the taxes imposed by governments contribute to the overall fuel costs. When the Indian government reduces tax rates on fuels, oil companies in India may need to increase petrol prices to compensate for their losses and sustain their profitability. Therefore, tax rates imposed on fuels play a crucial role in determining the final price of petrol.
Various Taxes Affecting Petrol Prices in India
Gasoline taxes in India vary from state to state. There are three types of taxes imposed on fuel. The Central Sales Tax (CST) is a sales tax implemented by the central government. The Value-Added Tax (VAT) is a tax imposed on the value added to goods and services during production. The third tax is the Service Tax, which is applicable to services provided. These taxes contribute to the overall taxation structure on gasoline in India.
Global crude oil rate
The primary factor influencing petrol prices in India is the global cost of crude oil. These costs directly impact production and distribution expenses, ultimately affecting fuel prices in the international market. As the price of crude oil has been consistently increasing in recent years, it has led to higher petrol prices in India.
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production & contributions costs
In addition to global crude oil costs, domestic manufacturing and distribution expenses also influence the price of petrol. These costs encompass the production, refining, and transportation of oil to various regions within the country. When these expenses are high, they contribute to increased petrol prices as they are spread out per unit of fuel. Therefore, higher manufacturing and distribution costs can have a significant impact on the overall price of petrol.
Rupees to Dollar Exchange Prices
The exchange rate between the rupee and the dollar is a factor that influences the price of gasoline in India. When the cost of unrefined oil is high and the rupee is strong against the dollar, oil refiners can earn more money. Conversely, if the rupee weakens against the dollar, it becomes more challenging for oil refiners to access funds. Therefore, fluctuations in the rupee’s exchange rate with the dollar can impact the price of gasoline in India.
How can I check the current petrol price in India?
Petrol prices in India are updated daily at 6 am under the Dynamic Fuel Pricing policy. It is essential to check the daily per litre petrol rate in India. Since the majority of fuel stations in India are operated by state-owned oil marketing companies (OMCs), they provide updated petrol price lists through online and offline channels. Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL), and Indian Oil Corporation Limited (IOCL) are some popular oil companies that provide reliable information on the current petrol prices in India.
In conclusion, keeping track of petrol prices is crucial for individuals and businesses alike. The state-wise list of petrol prices provides valuable information about regional variations across India. By understanding the petrol rates in your city, you can make informed decisions about fuel consumption and budgeting. Checking the latest petrol rates is now more convenient with online and offline channels provided by state-owned oil marketing companies like HPCL, BPCL, and IOCL. Staying updated with the petrol rates today empowers you to plan your expenses and adapt to market fluctuations. Awareness of petrol rates ensures better financial management and enables you to make informed choices regarding fuel consumption.
How petrol price is decided in a state?
International crude oil prices have a direct impact on Indian gasoline and diesel prices. Crude oil prices are determined based on international supply and demand, future reserves, external relations, etc.
How to check petrol price by message?
Gasoline and diesel price changes occur daily at 6:00 AM. To get your city/municipal gas/diesel reference price for the day, text RSP Dispenser Dealer Code to 92249 92249. For example, for petrol and diesel prices in Delhi, text RSP 102072
How to calculate the price of petrol?
Then you need to divide the cost of one unit of fuel by this fuel efficiency number. Formula to calculate fuel cost per km: Fuel cost per km = fuel cost per litre or kg/mileage or fuel consumption.
What is petrol fuel details?
Gasoline, also known as petrol, is one of the most common fuels used in vehicles. It is clear and obtained from the fractional distillation of petroleum. It is used in spark-ignited internal combustion engines and is available in several variants. It's cheap.
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