Petrol Price in India (18th May 2022)
Petrol. 'prices in India are revised on a daily basis at 06:00 AM every day. This is effective from June 15, 2017. Earlier it was revised every fortnight (two weeks).
Today's Petrol price in Indian metro cities and state capitals
|CITY||TODAY PRICE||YESTERDAY's PRICE|
|Bangalore||₹ 111.09||₹ 111.09|
|Bhubaneswar||₹ 112.94||₹ 112.49|
|Chandigarh||₹ 104.74||₹ 104.74|
|Gurgaon||₹ 105.45||₹ 105.77|
|Hyderabad||₹ 119.49||₹ 119.49|
|Jaipur||₹ 118.03||₹ 118.18|
|Kolkata||₹ 115.12||₹ 115.12|
|Lucknow||₹ 105.24||₹ 105.11|
|Mumbai||₹ 120.51||₹ 120.51|
|New Delhi||₹ 105.41||₹ 105.41|
|Noida||₹ 105.68||₹ 105.6|
|Patna||₹ 117.11||₹ 116.23|
|Trivandrum||₹ 117.19||₹ 116.88|
Check Today's Petrol Price in all States and union territories of India
Revising daily Petrol prices in India
- This allows you to easily absorb some money changes in daily Petrol prices in India.
- When Petrol prices are revised or changed every fortnight, there is a big change in prices, which puts a lot of extra pressure on the consumer.
- In India, Petrol prices are revised by oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum, based on international prices. Therefore, when crude oil prices increase or decrease internationally, Petrol prices in India increase or decrease.
Factors Influencing Today's Petrol Price in India
Crude oil price- The change in the price of crude oil in the international market directly affects the price of crude oil in the domestic market; This is one of the most important factors responsible for the increase in Petrol prices in the Indian domestic market.
Increased demand-The demand for Petrol and other essential fuels in India has also increased due to economic growth in India and other developing countries. As a result, Petrol prices have increased in India.
Mismatch of supply and demand- Oil refinery companies in India have to face the problem of meeting the market demands due to high cost of input price of crude oil, resulting in lower supply and greater demand for Petrol in the country.
Tax rates- The prices of Petrol and other petroleum products vary according to local government policies that impose a tax on fuel. When the Government of India increases the tax rate on oil companies in India from the fuel rate, the price of Petrol also increases to reduce losses in the oil business in India and maintain marginal profit.
Rupee to dollar exchange rate- Rupee-dollar exchange rate is also one of the major factors affecting the price of Petrol in India.
Logistic- Petrol or diesel is transported from depots in long-distance cities or regions, which will be higher than in locations adjacent to the oil storage area. The reason for the change in Petrol and diesel prices in various cities across India.
How is Petrol prices calculated today in India?
Although everything in the country is under GST, fuel prices are another story. Currently, Petrol prices are structured by excise + VAT. While excise duty is collected by the central government, VAT goes to state government revenue. The price of petrol and diesel is the sum of excise, VAT, price to dealers and commission paid by dealers.
The price of petrol and diesel is the sum of excise, VAT, price to dealers and commission paid by dealers.
Petrol cost more in India today?
Fuel is the most expensive in India compared to its neighboring countries such as Pakistan, Bangladesh and Sri Lanka. By the way, there are several reasons for this, some of the main reasons are as follows:
- Earlier, the prices of petrol and diesel were subsidized by the government, but, since it has been combined with market prices, it has become more demanding.
- Government hikes excise duty on expensive Petrol
- One reason for adding excise before Petrol is released at fuel stations is the mop-up of additional resources for social schemes.
- Adding some taxes on the Oil and Natural Gas Corporation
Where and how do you check today's Petrol prices in India?
In India, you can find today's updated Petrol price by visiting SMS, online website, dealer or direct Fuel pump. Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Limited (HPCL) revise fuel prices at 6 am.
for HPCL SMS HPPRICE DealerCode and send on 9222201122
for IOC SMS: RSP DealerCode and send on 9224992249