Petrol Price In Dindigul Today

  • Today's Petrol Price ( 18 Apr 2019 )
    ₹ 76.65
    Current Petrol Price Per Litre
    Compare Petrol Price in Dindigul (Today & Yesterday)
    Today
    (18 Apr 2019)
    Yesterday
    (17 Apr 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.65 ₹ 76.65 ₹ 0 ↑
    Petrol Price in Dindigul - Last 10 Days Data
    Date Petrol ( / litre)
    18 Apr 2019 ₹ 76.65
    17 Apr 2019 ₹ 76.65
    16 Apr 2019 ₹ 76.65
    15 Apr 2019 ₹ 76.71
    14 Apr 2019 ₹ 76.58
    13 Apr 2019 ₹ 76.58
    12 Apr 2019 ₹ 76.58
    11 Apr 2019 ₹ 76.52
    10 Apr 2019 ₹ 76.52
    09 Apr 2019 ₹ 76.52

    Petrol Rate Trend

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    Petrol Price in Dindigul

    Dindigul is situated in the state of Tamil Nadu. The city is popular for its rich art, architecture and cultural heritage. Dindigul’s urban workforce rate of participation towards the economy is 35.24% registering a tremendous growth in the industrial sector. The city is also famous for the production of iron locks and steel safes as well as home to a huge number of cotton spinning mills.

    The city is well connected by road, rail and air to several cities in the country. Local public transport such as town buses, private minibus service offer service to commuters within the city. With the Dindigul population on the rise and the increased use of two-wheelers and four-wheelers, petrol consumption has risen substantially.

    Petrol prices in Dindigul changes daily similar to cities across the country. Various factors influence the revision in petrol prices in India leading to an uneven pricing of the fuel. Why do petrol prices change daily? Who controls petrol prices in India? How is the petrol price calculated? Below is an analysis of the determinants of the petrol price in a city which strives to find out how fuel is priced in India.

    Components of the Petrol Price in Dindigul

    State-owned oil companies import more than 70% of crude or unrefined oil from oil-producing countries. The crude oil is then refined and sold in the country. While the price of crude oil is the base price of petrol, internal factors such as taxes and operational costs contribute to the petrol price in Dindigul or other cities in India.

    • Global Crude Oil Price: The crude oil rate is dynamic in nature and tends to fluctuate based on the production of crude oil, any instances of shortage in supply, geopolitical tensions as well as higher demand leads to an increase - emerging economies such as India and China have a higher demand for crude oil in the market. Any variations in these factors influence the petrol rate in cities such as Dindigul. Crude oil is sold in barrels and the value at which the unrefined oil is bought is called Indian Basket or Indian Crude Basket price. Fuel companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum operate more than 90% of fuel stations across the country. These oil companies refine the crude oil and transport petrol to fuel stations across Dindigul.
    • US Dollar Exchange Rate: Trading of crude oil typically happens in US dollars and any fluctuation in the value of the US dollars impacts the petrol price. When there’s an instance of a weaker rupee over the US dollar, the cost to pay for a barrel of crude oil increases. Hence any fluctuation on the US dollar value has a direct influence on the Retail Selling Price (RSP) of petrol in a city like Dindigul.
    • Excise Duty & Local Sales Tax or Value Added Tax (VAT): Sale of petrol in India attracts Centre’s excise duty and the respective State’s sales tax or VAT. Taxes on petrol is the highest component in the petrol price. While the Centre levies excise duty at Rs.19.48 a litre, Tamil Nadu charges VAT at 32.06% on the sale of petrol in Dindigul.
    • Oil Companies’ Profit Margin & Dealer Commission: Oil companies purchase crude oil and transport them to India. The unrefined oil is then refined and supplied to fuel stations across the nation. The oil companies add their profit margins and other operational costs to the final selling price of the petrol. Also, these fuel companies fix the commission for dealers or otherwise known as fuel station owners.

    When Does the Petrol Price Change?

    Petrol prices in India are revised on a daily basis. This method of pricing is known as the ‘dynamic fuel pricing’ mechanism. Under this mechanism, the previous day’s crude oil rate and the US dollar exchange rate is taken into consideration before fixing the petrol price in Dindigul and in across cities in India. Petrol prices are updated daily at 6 a.m. IST. While automated fuel stations update the petrol price automatically, it’s manually updated at non-automated fuel stations.

    Prior to the daily revision in the petrol price, India followed the fortnightly revision by including the average price of crude oil over the fortnight as well as the exchange rate of the US dollar. However, this did not let oil companies change the petrol price in case of a sudden spike or decline in crude oil prices in the global market, leading to losses incurred by these companies. Hence, the daily revision was introduced to offset any changes in the crude oil prices.

    How to Track the Current Petrol Price in Dindigul?

    With petrol prices being revised on a daily basis, the below methods will track the current petrol price in Dindigul as well as other cities in the country.

    • Mobile Apps: Indian Oil has launched the ‘Fuel@IOC’ app to track the current petrol price in a city, Bharat Petroleum has developed the ‘SmartDrive’ app, while Hindustan Petroleum’s ‘MY HPCL’ which offers the latest petrol price in Dindigul.
    • SMS Service: For those looking to take advantage of the SMS service, oil companies offer services via SMS as well. The process below will track the petrol price at a particular petrol station.
      • Indian Oil: SMS RSPDealer Code to 9224992249.
      • Hindustan Petroleum: SMS HPPRICEDealer code to 9222201122.
      • Bharat Petroleum: SMS RSPDealer code to 9223112222.
    • Online Portal: Consumers can visit the respective oil-companies’ website to track the latest petrol rate in Dindigul.

    Breakup of the Petrol Price in Dindigul

    Below is the petrol price recorded on 3 June 2018. This offers insight into the breakup of the petrol price.

    Sl.No. Component Price
    1 Global Crude Oil Price + Ocean Freight Charges $78.30 per barrel = Rs.32.98/Litre (considering $1=66.96 and 1 barrel oil = 159 litres)
    2 Profit margin of Oil Companies, transportation, refining, and operational costs Rs.5.32/Ltr
    3 Central Excise Duty + Road Cess Rs.19.48/Ltr
    4 Dealer Commission Rs.3.63/Ltr
    5 Value Added Tax (VAT) Rs.19.68/Ltr
    Total Retail selling price of petrol in Dindigul Rs.81.09/Ltr

    Impact of GST on Petrol

    As mentioned, the sale of petrol in India attracts excise duty and VAT and the new taxation system of Goods and Service Tax (GST) does not apply to petroleum products such as petrol and diesel. Petroleum products are exempted from the GST. This is because the current taxes on petrol is higher compared to the highest tax slab in GST. Therefore, if petrol is brought under the ambit of the GST, the government’s revenue is impacted. However, if petrol is brought under the framework of the GST, petrol prices will reduce and lower the burden on the common man.

    *Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.

    News About Petrol Price In Dindigul Today

    • Petrol Pump Dealers in Punjab Stage a Protest Against the Government Over Fuel Pricing

      The Petrol Pump Dealers Association of Punjab (PPDAP) have staged a protest against the government focusing on the apparent indifference of the government in bringing down fuel prices to equal that of neighbouring states. PPDAP has used posters to let its outrage against the government be known. A spokesperson for the PPDAP has said that it will protest till the government meets its demand.

      The dealers complained about the state government losing revenue due to the uneven pricing and further went on to say that pumps located close to highways and districts neighbouring other states are heavily affected by this.

      Several dealers have also had to close down their businesses due to this said the dealers and went on to claim that people from other neighbouring states such as Delhi and Haryana come to Chandigarh to fill their fuel and that this is causing massive losses for the dealers. Another individual went on to say that people from Jammu and Kashmir and Himachal Pradesh also have made Punjab their haven and are entering the state to get their vehicles refueled.

      15 November 2018

    • Petrol Prices Slumps Six Times in as Many Days, Consumers Swept by Relief

      Petrol prices had risen to unprecedented levels over the last few weeks, owing to a rising crude oil prices and a falling rupee. However, the past week has come as a welcome relief for the government and the consumers alike as petrol prices have dipped for the sixth straight day in a row.

      On Monday, petrol prices were further revised, which led to the fuel trading at Rs.81.34 per litre in Delhi, while it remained at Rs.86.81 per litre in Mumbai - as a Rs.0.10 per litre was recorded in both the cities.

      The newly seen price cuts are due to a drop in global crude prices, which determines how fuel is priced. The domestic fuel rates are based on the 15-day average as well as the rupee, both of which have seen considerable improvement recently, with crude prices dropping and rupee recovering.

      This improvement could be attributed to rising crude inventories and Saudi Arabia’s statement that it will ramp up its crude output to offset Iran’s lack of sales.

      24 October 2018

    • Petrol Dealers Monitoring Situation Closely in Tamilnadu

      Petrol prices have been on the rise consistently over the last week or so, with prices going up by as much as Re.1 or more in some cases, owing to a falling rupee. Petroleum dealers in Tamilnadu are said to be closely monitoring the situation and are saying that they have very little in their hands about the rising prices on a daily basis. Their hands are tied, they said, and are following the dynamic pricing order followed by the oil marketing companies.

      Petrol and diesel prices in the country are rising regularly and have hit all time highs all over the country owing to a falling rupee and the rising crude oil prices. On the 3rd, petrol and diesel in Tamilnadu was selling at Rs.82.41 per litre and 75.21 per litre respectively.

      Vice President of the Petroleum Dealers Association, Suresh Kumar, has said that private vehicle numbers may drop soon if petrol prices continue to rise as they will possibly move on to using public transport for their commutes.

      11 September 2018

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