Petrol Price In Gujarat Today

  • Today's Petrol Price ( 19 Feb 2020 )
    ₹ 69.32
    Current Petrol Price Per Litre
    Compare Petrol Price in Gujarat (Today & Yesterday)
    (19 Feb 2020)
    (18 Feb 2020)
    Rate Change
    Petrol ( / litre) ₹ 69.32 ₹ 69.32 ₹ 0 ↑
    Petrol Price in Gujarat - Last 10 Days Data
    Date Petrol ( / litre)
    19 Feb 2020 ₹ 69.32
    18 Feb 2020 ₹ 69.32
    17 Feb 2020 ₹ 69.37
    16 Feb 2020 ₹ 69.37
    15 Feb 2020 ₹ 69.37
    14 Feb 2020 ₹ 69.37
    13 Feb 2020 ₹ 69.37
    12 Feb 2020 ₹ 69.37
    11 Feb 2020 ₹ 69.37
    10 Feb 2020 ₹ 69.53

    Petrol Rate Trend

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    Petrol price in Gujarat today is based on the ‘Dynamic Fuel Pricing’ mechanism, which is revised daily. Here, you can check the current petrol price in Gujarat. Also, you can find today's petrol price with quarterly price trends in Gujarat. New petrol prices in Gujarat are updated daily at 6:00 am IST.

    Get to know how petrol prices in Gujarat are computed also know how it compares to other states’ prices. Find the current Gujarat petrol price and factors affecting the petrol price in India. The below petrol price trend in Gujarat reflects the highest and lowest petrol prices recorded during a month.

    Petrol Rate in Gujarat:

    Gujarat is a developed state that has a huge number of petrol-run vehicles. The number of petrol consumers is massive. The consumption of petrol in the state has increased over the last five years. There are many petrol related topics to discuss. In the following sections, a few important topics related to petrol are discussed:

    Trend of Petrol Price in Gujarat for January 2020 (rates per litre):

    Parameters Rates/litre
    1st January Rs.72.47
    31st January Rs.70.69
    Highest Rate in January Rs.73.33
    Lowest Rate in January Rs.70.69
    Overall Performance Decline
    Percentage Change -2.45%

    Monthly Petrol Price Trend in Gujarat for January 2020:

    • In Gujarat, petrol price opened the month of January at Rs.72.47 per litre. Over the month, the rates of petrol witnessed a declining trend of 2.45% as global crude prices declined in the international oil market due to the outbreak of coronavirus in China.
    • Petrol recorded its highest price for the month on 11 January with every litre costing Rs.73.33. This was accounted to global oil prices being on the upward curve due to tensions between the United States and Iran.
    • The rates began to fall in the state after that as international oil prices declined as tensions in the Middle East eased. A litre of petrol cost Rs.72.18 on 21 January.
    • With the World Health Organisation (WHO) declaring a global health emergency due to the increasing number of coronavirus cases and deaths, petrol prices saw no improvement in the final week of January. The rates closed at Rs.70.69 per litre, the lowest recorded price for the month in the state.

    Trend of Petrol Price in Gujarat for December 2019 (rates per litre):

    Parameters Rates/litre
    1st December Rs.72.28
    31st December Rs.72.47
    Highest Rate in December Rs.72.47
    Lowest Rate in December Rs.71.98
    Overall Performance Incline
    Percentage Change 0.26%

    Monthly Petrol Price Trend in Gujarat for December 2019:

    • The petrol price in Gujarat opened at Rs.72.28 per litre for the month of December 2019. The prices remained around this ballpark for some time before it started rising up again towards the end of the month.
    • The main reason behind the rise in the price of the fuel was the increase of crude oil prices in the international oil market.
    • Despite the expectations of the trade deal between USA and China, the Brent crude prices stood steady. The overall price of Brent crude oil witnessed a hike of around 24% in the year of 2019.
    • The price of the fuel closed at Rs.72.47 per litre for the month of December 2019 in Gujarat. This has been the highest recorded price for the month. The overall performance of the fuel witnessed a rise of 0.26%.

    Trend of Petrol Price in Gujarat for November 2019 (rates per litre):

    Parameters Rates/litre
    1st November Rs.70.24
    30th November Rs.72.13
    Highest Rate in November Rs.72.13
    Lowest Rate in November Rs.69.99
    Overall Performance Incline
    Percentage Change 2.69%

    Monthly Petrol Price Trend in Gujarat for November 2019:

    • In Gujarat, petrol opened the month of November at Rs.70.24 per litre. Compared to the previous day’s rates, the price charged for a litre declined by 11 paise.
    • The first week of the month saw petrol prices drop in the state as crude oil prices across the globe was relaxed due to the upcoming US and European economic data.
    • From the second week onwards, the rates improved and closed the second and third week of November at Rs.70.81 and Rs.71.53 per litre.
    • The rates continued to improve in the final week of the month and closed the month at Rs.72.13 per litre. This was the highest recorded price of petrol in the entire month. The overall performance of petrol in the state was 2.69%, trending upwards.

    Trend of Petrol Price in Gujarat for October 2019 (rates per litre):

    Parameters Rates/litre
    1st October Rs.71.98
    31st October Rs.70.35
    Highest Rate in October Rs.71.98
    Lowest Rate in October Rs.70.35
    Overall Performance Decline
    Percentage Change -2.26%

    Monthly Petrol Price Trend in Gujarat for October 2019 :

    • Petrol price in Gujarat started the month of October at Rs.71.98 per litre. This was the highest recorded price of petrol for the month.
    • However, due to global economic crisis and seemingly weak demand for fuel, the rates dropped gradually and the closed the second week at Rs.70.74 per litre.
    • The rates of petrol slumped marginally in the third week before closing the week at Rs.70.69 per litre.
    • With fuel suffering in the international market due to unprecedented rise in US inventories, the rates of petrol dropped further in the final week of the month and closed at Rs.70.35 per litre. This was the lowest recorded price of petrol in Gujarat for the entire month. Petrol’s overall performance in the state was -2.26%, trending downwards.

    Trend of Petrol Price in Gujarat for August 2019 (rates per /litre ):

    Parameters Rates/litre
    1st August Rs.70.21
    31st August Rs.69.42
    Highest Rate in August Rs.70.21 on 1 August
    Lowest Rate in August Rs.69.26 on 19, 20, 21, 22 and 23 August
    Overall Performance Decline
    Percentage Change -1.12%

    Monthly Petrol Price Trend in Gujarat for August 2019:

    • Petrol prices in Gujarat opened the month of August at Rs.70.21 per litre, a 6 paise drop from the previous day’s closing price. This was highest recorded price for the month.
    • Due to the trade war between the United States and China, the price of petrol in Gujarat slumped in the next few days to Rs.69.67 per litre by the end of the first week.
    • With the relations not improving between the countries and the demand for oil being low in the local market, the rates dropped further to Rs.69.26 per litre on 19 August. This was the lowest recorded price for the month.
    • The petrol rate in Gujarat rose marginally in the final week and ended the month at Rs.69.42 per litre. The overall performance of petrol in Gujarat for August was -1.12%.

    Trend of Petrol Price in Gujarat for July 2019 (rates per litre)

    Parameters Rates/litre
    1st July Rs.67.94
    31st July Rs.70.27
    Highest Rate in July Rs.70.80 on 23 and 24 July
    Lowest Rate in July Rs.67.94 per litre on 1 July
    Overall Performance Incline
    Percentage Change 3.43%

    Monthly Petrol Price Trend in Gujarat for July 2019:

    • Petrol in Gujarat on the 1st of July stood at Rs.67.94 per litre – the lowest price recorded during the month – and inclined significantly by the end of the week as the Centre imposed an additional excise duty and cess of Rs.2 per litre which led to a litre of petrol in Gujarat being sold at Rs.70.36 per litre.
    • Prices continued to incline during the second week attributed by the rise in crude oil prices in the global market amid escalating tensions in the Middle East despite productions cuts by the Organisation of Petroleum Exporting Countries (OPEC) and its allies to keep markets stable.
    • While petrol prices in Gujarat during the third week increased initially, it declined by the end of the week slightly to close at Rs.70.74 a litre amid rising tensions in the Middle East after the US Navy shot down an Iranian drone.
    • The last week witnessed a sharp rise in crude oil prices to touch a monthly high of Rs.70.80 per litre on 23 and 24 July as crude oil prices rose amid declining US inventories and escalating tensions on the Middle East after the US Navy said it may have downed a second Iranian drone.

    Trend of Petrol Price in Gujarat for June 2019 (rates per litre):

    Parameters Rates/litre
    2nd June Rs.68.94 per litre
    30th June Rs.67.85 per litre
    Highest Rate in June Rs.68.94 per litre on 2 June
    Lowest Rate in June Rs.67.42 per litre from 16-23 June
    Overall Performance Decline
    Percentage Change -1.58%
    • Petrol was priced Rs.68.94 per litre on 2 June, a marginal increase as against the previous day’s price amid slight incline in crude oil prices in the international market.
    • Prices were on a downward trend in the first and second week amid the decline in crude oil prices in the market due to supply cuts by OPEC and its allies despite tensions in the Middle East.
    • On 16 June, petrol in Gujarat was at its monthly low when it was sold at Rs.67.42 per litre, which remained static until 23 June influenced by the drop in crude prices in the market as Brent crude futures stabilised after plummeting in the last couple of days.
    • Overall, petrol prices in June in Gujarat declined by 1.58% mainly impacted by the production cuts by the OPEC even though there were tensions of a trade war between the US and China and US sanctions on Iran.

    How often are Petrol Rates/Petrol Prices in Gujarat Revised?

    You may not have noticed that petrol prices across the state are revised on a daily basis. The daily revision is also called ‘dynamic fuel pricing’. The new system combats the drawbacks of the earlier revision. For instance, in the earlier system, there was no transparency with respect to fuel pricing. Petrol dealers were facing issues related to stock management.

    Under the daily revision, the current petrol rate is marked to market dynamics. If prices of crude oil fall today, the petrol rate will fall tomorrow. Similarly, if the USD gains against the Indian currency, the cost of petrol will gain. In simple words, any changes in overseas crude oil prices and the currency conversion rate of the USD to the INR will directly affect the final price of petrol in Gujarat, and so does with other states.

    Fuel rates will be automatically revised by automated petrol pumps and manually by non-automated bunks. For the reference of fuel consumers like you, each petrol station will display price updates at 06:00 a.m. every day. The daily revision is in practice since the last four months and has been well-received by consumers and dealers.

    Trends in Petrol Prices in Gujarat

    The first four days of the daily revision have seen a declining trend. Since 21 June 2017 until 3 October 2017, there was an increasing trend in prices. As we know, the cost of petrol shall vary marginally from one brand to another. In all prime cities of Gujarat including Ahmadabad, the petrol price was comparatively cheaper at Hindustan Petroleum followed by Indian Oil, Bharat Petroleum, and Shell Oil as on the latest date.

    Comparison between Petrol Price in Gujarat and other States

    The latest price that was offered at Indian Oil was Rs.67.66. At Bharat Petroleum, it was Rs.67.72. It was Rs.68.8 at Shell Oil. At Hindustan Petroleum, it was Rs.67.62 as on the latest date, which is 12 October 2017. This is applicable to the entire state of Gujarat. In Karnataka, the price of petrol is costlier at Shell Oil followed by Bharat Petroleum, Hindustan Petroleum, and Indian Oil. In Maharashtra, the average price for the last ten was Rs.77.28 until 12 October 2017.

    Quarterly Petrol Price Trend in Gujarat between January and March 2019

    January February March
    Opening date price Rs.66.31/litre Rs.68.33/litre Rs.69.20/litre
    Closing date price Rs.68.56/litre Rs.69.09/litre Rs.70.16/litre
    Highest price Rs.68.73/litre recorded between 22nd and 28th Rs.69.09/litre recorded on 28th Rs.70.21/litre recorded on 24th, 25th, 26th and 27th
    Lowest Price Rs.66.01/litre recorded on 4th, 5th and 6th Rs.67.74/litre recorded on 11th, 12th and 13th Rs.69.20/litre recorded on 1st, 2nd and 3rd
    Trend Upward Upward Upward
    % Change 3.39% 1.11% 1.38%

    Quarterly Petrol Price Trend in Gujarat Between October and December 2018

    October November December
    Opening date price Rs.82.90 a litre Rs.76.49 a litre Rs.69.93 a litre
    Closing date price Rs.76.66 a litre Rs.70.27 a litre Rs.66.31 a litre
    Highest price Rs.83.14 a litre booked on the 4 October 2018 Rs.76.49 a litre booked on the 1 November 2018 Rs.69.93 a litre booked on the 1 December 2018
    Lowest Price Rs.76.66 a litre booked on the 30 and 31 October 2018 Rs.70.27 a litre booked on the 30 November 2018 Rs.66.31 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -7.52% -8.13% -5.04%

    Petrol Price Trend in Gujarat Between October and December 2018

    • Prices of petrol and diesel in India are based on the Dynamic Fuel Pricing mechanism which includes the 14-day average of the global crude oil price and the exchange rate of the rupee over the US dollar.
    • Oil marketing companies revise petrol prices daily under this method and is effective from 6:00 am.
    • Based on this methodology, the petrol price in Gujarat on 1 October stood at Rs.82.90 per litre with rising crude oil prices impacting the high rate.
    • Prices rose to touch the highest on 4 October when a litre of petrol in Gujarat was sold at Rs.83.14 per litre when the Centre announced to cut excise duty on fuel to ease the burden on customers.
    • Excise duty of Rs.1.50 per litre and a further subsidy of Rs.1 by oil companies offered some respite to consumers which eventually led to the lowest rate of Rs.76.66 per litre on 30 October.
    • Overall, prices in October declined by 7.52% attributed to the cut in excise duty coupled with a slight depreciation of the US dollar over the rupee.
    • On 1 November, petrol was priced at Rs.76.49 per litre, which was also the highest price recorded for the month.
    • During the month, petrol prices continued to drop in tandem with the decline in crude oil prices in the international market.
    • By the end of the month, Gujarat witnessed a decline in petrol prices by 8.13% mainly influenced by the significant drop in oil prices in the market.
    • On 1 December, a litre of petrol in Gujarat was sold at Rs.69.93 – the highest price recorded in the month.
    • While prices fluctuated, the trend indicated a decline in prices during the month as the crude oil price fell from a record high of $80 per barrel to $56 per barrel.
    • The lowest price for the month was recorded on 31 December when the petrol was sold at Rs.66.31 per litre.
    • Overall, the petrol price trend in Gujarat in December dropped by 5.04% influenced by the significant decline in crude oil prices and the appreciation of the Indian currency over the US dollar.

    Petrol Price Trend in Gujarat between July and September 2018

    July August September
    Opening date price Rs.74.88 per litre (5 July) Rs.75.66 per litre (2 August) Rs.77.75 per litre
    Closing date price Rs.75.53 per litre Rs.77.73 per litre Rs.82.59 per litre
    Highest price Rs.76.00 per litre observed on the 16th Rs.77.73 per litre observed on the 31st Rs.82.59 per litre observed on the 30th
    Lowest price Rs.74.88 per litre observed on the 1st Rs.75.66 per litre observed on the 1st Rs.77.75 per litre observed on the 1st
    Trend Upward Upward Upward
    % Change +0.86% +2.73% +6.22%

    Petrol Price Trend in Gujarat in July 2018

    • In July, fuel pricing was carried out every single day at all fuel distribution outlets across the state of Gujarat.
    • Despite a city or a state, the retailing rate of petrol per litre encompasses the costs of oil marketing companies (OMCs), the cost price of petroleum per litre and the taxes. Thus, the OMCs are required to reset the price of petrol considering these cost elements.
    • Except for the crude oil cost, no other cost elements have been revised in July. Since oil-producing economies export crude oil to India, the exchange rate makes a big difference to the pricing of petrol.
    • In Ahmedabad, Surat, Rajkot, Gandhinagar, Vadodara, Jamnagar, Bhavnagar, Navsari and other cities in Gujarat, the trend in petrol price was determined bearing in mind the dollar-rupee conversion rate and oil prices.
    • It was reported by the OMCs that petrol prices in Gujarat were unwavering between 1 July and 5 July, travelled upwards between 7 July and 14 July and moved downwards in the third week.
    • At the beginning of the month, the fuel was valued at Rs.74.88 per litre and at the end of the month, the fuel price increased by 0.86% at Rs.75.53 per litre in Ahmedabad, the capital city of Gujarat.

    Petrol Rate Trend in Gujarat in August 2018

    • Petrol rates in Gujarat were seen surging in the first 5-7 days of August.
    • Irrespective of the variations in the exchange rate and global oil prices, fuel rates across all parts of the state were not changed in the second week by Hindustan Petroleum, Bharat Petroleum and Indian Oil.
    • As per the official notification, a litre of petrol was valued at Rs.76.41 as of 16 August. The fuel corporations continued to market petrol at the same price until the 19th August.
    • Remarkably, fuel consumers bought petrol at a price of Rs.76.89 a litre between the 21st and 23rd August and Rs.76.89 a litre on the 24th, 25th and 26th respectively.
    • Just alike other states, in Gujarat also, fuel companies accelerated fuel rates continually in the final week.
    • As the percentage of the downfall in the rupee’s value against the dollar has surged this month, the rate of growth in the prices of petrol in Gujarat increased to 2.73% from 0.86%.
    • According to the notification declared by Indian Oil, petrol rates surged by 3.80% over the last two months. Other two OMCs also announced the same trend.

    Petrol Price Trend in Gujarat in September 2018

    • The system of dynamic fuel pricing was deployed to revisit petrol rates in Gujarat this month also.
    • Unlike the previous months, fuel prices were not declined since the crude oil price bounced back and the dollar continued to appreciate.
    • So, at Rs.82.59 a litre, the highest rate was recorded on the last day of the month in various cities in Gujarat such as Gandhinagar, Surat, Vadodara, Navsari, Ahmedabad, Rajkot, Jamnagar, etc.’
    • The oil corporations recorded a growth rate of over 6% in September as the average price of petroleum surged by over $5 per barrel and the prime currency gained by a big margin.
    • The Centre collected an excise duty of Rs.19.48 on petrol per litre throughout the quarter. It did not revise its tax even though a countrywide bandh was observed in the week 2.
    • While BJP-ruled Gujarat did not decline its Value-added Tax (VAT) on petrol, Karnataka, Andhra Pradesh, West Bengal and Rajasthan cut their VAT in response to the bandh.
    • Over the three months, the commission imposed by fuel dealers and the expenses expended by the OMCs remained unrevised at Rs.3.66 per litre and Rs.3.82 per litre respectively.

    Quarterly Petrol Price Trend in Gujarat between April and June 2018

    April May June
    Opening date price Rs.73 a litre Rs.73.98 a litre (As on 14th) Rs.77.43 a litre
    Closing date price Rs.73.81 a litre Rs.77.49 a litre Rs.74.72 a litre
    Highest price Rs.73.81 a litre recorded on 24th Rs.77.57 a litre recorded on 29th Rs.77.43 a litre recorded on 1st
    Lowest price Rs.73 a litre recorded on 1st Rs.73.98 a litre recorded on 14th Rs.74.72 a litre recorded on 6th
    Trend Upward Upward Downward
    %Deviation +1.10% +4.74% -3.49%

    Petrol Price Trend in Gujarat in April 2018

    • Petrol price trend depends upon the movement of overseas crude oil rates and the currency conversion rate on a daily basis. The factors that affect the pricing of diesel domestically include sales taxes and central taxes.
    • Petrol rates in all parts of Gujarat will increase when the central government increases excise duty and the State Government of Gujarat increases sales tax. In April 2018, these two forms of taxes were not revised.
    • On the 1st, the exchange rate of the domestic currency against the currency of the United States of America was Rs.65.13. It was revised to Rs.66.47 on 30th. It clearly indicates that the INR fell by 2.05%.
    • In April 2018, the crude oil rate per barrel was estimated to be $69.30. It was higher compared to the previous month. Considering the variations in these two parameters, petrol rates in Gujarat were increased by 1.10%.
    • For the month, the highest and lowest petrol rates in the state were Rs.73.81 a litre and Rs.73 a litre. The percentage of the growth rate was almost the same in all the major cities of Gujarat, including Ahmedabad, Surat, Rajkot and Gandhinagar.

    Petrol Price Trend in Gujarat in May 2018

    • Like the first month, the pricing of petrol in the state of Gujarat was done on the basis of dynamic fuel pricing in this month also. Because of the steady global influencers, fuel rates in Gujarat were not revised during the first ten days of the month.
    • In sync with crude oil prices in global markets, fuel companies such as Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Private Limited increased petrol rates in the state during the last two weeks.
    • At Indian Oil, petrol rate per litre stood at Rs.73.98 on the 14th. The price was further accelerated to Rs.75.73 a litre on the 21st and Rs.77.41 a litre on 28th. Compared to the last month, the growth rate was higher.
    • The impact of the currency conversion rate (INR/USD) was reported to be negligible. The INR/USD currency conversion rate is determined based on many aspects, including the imports and exports between India and the USA, the rate of inflation, the bank interest rates fixed by the RBI, etc.
    • Petroleum Planning and Analysis Cell confirmed that the cost of unrefined oil per barrel in this month was up by $6. As a result, in Gujarat, petrol rates were increased by 4.74%.

    Petrol Price Trend in Gujarat in June 2018

    • The opening date price for this month was Rs.77.43 a litre. Almost the same price was offered in all the fuel stations across the state of Gujarat.
    • As the crude oil market was sluggish this month, the cost of crude oil per barrel moved downwards gradually. Therefore, on the 4th, the fuel price was dropped to Rs.77.11 a litre, Rs.76.98 a litre on the 5th, Rs.76.87 a litre on the 6th, and Rs.76.78 a litre on the 7th.
    • By the end of the second week of the month, petrol price in Gujarat was further reduced to Rs.75.51 a litre on the 15th. The fuel was sold at Rs.75.33 a litre on the 21st.
    • Like other states, petrol rates were also down by 3.49% in the state of Gujarat triggered by the decreased cost of unrefined oil per barrel.
    • Between April 2018 and June 2018, petrol rates in the state were increased to Rs.74.72 a litre from Rs.73 a litre as per fuel companies. For this quarter, the highest petrol rate was recorded at Rs.77.43 a litre on the 1st June 2018, while the lowest petrol rate was booked at Rs.73 a litre on the 1st April 2018.

    Quarterly Petrol Price Trend In Gujarat between January and March 2018

    January February March
    Opening date price Rs.69.38 per litre Rs.72.65 per litre Rs.71.18 per litre
    Closing date price Rs.72.52 per litre Rs.71.12 per litre Rs.72.87 per litre
    Highest rate Rs.72.52 per litre booked on 23 January Rs.72.97 per litre booked on 6 February Rs.72.87 per litre booked on 31 March
    Lowest rate Rs.69.38 per litre booked on 01 January Rs.71.11 per litre booked on 25 February Rs.71.18 per litre booked on 01 March
    Trend Upward Downward Upward
    % Change 4.33% up 2.15% down 2.32% up
    Petrol Price Trend in Gujarat

    Trend in Petrol Price in Gujarat in January 2018

    • The opening price of petrol was Rs.69.38 per litre as on 01 January 2018. This was also the lowest recorded petrol rate in Gujarat for the month.
    • In the first week of January, a slight increase was seen in petrol prices on a day-to-day basis. Petrol was sold at Rs.69.42, Rs.69.5 on 2nd and 4th of the month before settling at Rs.69.87 on 07 January. The gradual increase in petrol prices was mainly due to the decrease in the value of USD. The U.S dollar lost its value by 0.35% and 0.05% on 2nd and 4th of January.
    • Petrol prices continued to surge and hit Rs.70.28 on 11 January as the value of the USD continued to decline and the price of crude oil increased to $67.66 per barrel in the Indian basket.
    • The highest petrol prices for the month was recorded on 23 January when petrol was priced at Rs.72.52 per litre. On the same day U.S dollar value fell by 0.02% and there was no significant drop in the crude oil price in the INdian basket. Crude oil was sold at Rs.67.51 on 23 January which made petrol expensive in the country.
    • Overall, a upward curve was noticed in petrol prices for the month of January as the prices pick up by 4.33%.

    Trend in Petrol Rate in Gujarat in February 2018

    • Petrol price opened at Rs.72.65 per litre on 01 February 2018 which was a Rs.0.13 increase compared to the previous day.
    • By the end of the week, on 7 February, petrol was priced at Rs.72.97 per litre.
    • However, on 6 February the highest petrol rate of Rs.72.97 per litre was recorded for the month.
    • The next fews days, petrol prices fell gradually and hit Rs.72.54 on 13 February as the dollar value reduced by 0.11%, 0.27%, and 0.32% on 13, 14, and 15 of February.
    • The lowest petrol price Rs.71.11 per litre for the month was recorded on 25 February.
    • Overall, the trend in petrol prices fell by 2.15% for the month of February.

    Trend in petrol prices in Gujarat in March 2018

    • On 01 March 2018, petrol was booked at Rs.71.18 per litre. This was also the lowest recorded petrol rate for the month.
    • Petrol prices in Gujarat increased in the first few days of the month and traded at Rs.71.2 on 5th and Rs.71.99 on 6th and 7th of the month, as the USD rate fell by 0.29%, 0.19%, and 0.04% on 05, 06, and 07 March respectively.
    • Though by 13 March, petrol prices picked up and sold at Rs.72.07, it quickly fell to Rs.71.69 by 21 March. The increase in USD value by 0.19% had led to the fall in petrol prices.
    • The month ended with petrol trading at Rs.72.87 per litre on 31 March 2018. This was also the highest petrol rate recorded for the entire month.
    • The overall trend in petrol prices was an upward curve as the rates picked up by 2.32%.

    How are Petrol Rates in Gujarat Computed?

    The following formula is used to compute the final price petrol, which is charged to consumers from all cities of Gujarat:

    The final price of petrol = cost of unrefined oil (including freights) + refinery transfer price + profit margin of oil marketing companies + VAT + customs duty + excise duty + commission charged by petrol dealers + pollution cess

    The cost of crude oil is the price charged by transnational oil companies to oil marketing companies in India. A barrel of crude oil, which is equivalent to 159 litres, costs $50 currently. Freight charges are the expenses incurred by oil marketing companies for shifting crude oil from overseas ports to Indian ports. The refinery transfer price is remitted again by oil marketing entities.

    The price, which is charged to dealers, comes with a profit margin added by OMCs. Excise duty is the tax component imposed by the Indian government. Currently, it is Rs.19.48 a litre. Petrol is taxed at 28.96% by the state government of Gujarat. Excise duty remains the same across the country, but VAT changes from state to state. The commission charged by dealers will fluctuate from one dealer to another within all cities of Gujarat.

    Factors affecting Petrol Prices in Gujarat

    Why is petrol priced differently at different time zones? It is due to variations in domestic factors and international factors. Prices of crude oil in global markets, the exchange rate, and the tax element have a direct impact on retail selling price of petrol in Gujarat. Needless to say, if any of these components goes up, the petrol cost will increase. In the same way, if any of these components slashes, the petrol rate will dampen.

    Let’s understand what impacts the cost of crude oil, which is imported by Indian oil companies from foreign oil companies. The primary influencers include changes in the currency conversion rate, climate conditions, political events in oil-producing countries, and the quantum of demand for oil from evolving nations. For instance, during the rainy season, all activities related to crude oil extraction are likely to be adversely affected.

    How does GST Impact Petrol Prices in Gujarat?

    Goods and Services Tax (GST) is a consolidated indirect tax platform. It is applicable to all types of services and goods that are transacted. Petrol and petroleum products do not fall under the regime of GST. However, all industry participants continue to pay the existing tax slab. If petrol is brought under the regime of GST, petrol prices will be cheaper for consumers, but the state and central governments stand to lose their revenues drastically.

    Petrol Costs vs. Diesel Cost in Gujarat

    As on the latest date, the average price of petrol was Rs.69.68. The average price of diesel was Rs.61.02 in Gujarat. The state government of Gujarat has cut VAT on petrol by 4% recently. With this reduction, the price of petrol was reduced by Rs.2.72 in the state. The government of Gujarat stands to lose 2,000 crore with this move.

    Also Check Petrol Price in NearBy Cities of Gujarat

    *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.

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    • No change in petrol and diesel prices on 25 September after increasing for 8 days

      The retail prices of petrol and diesel have been kept unchanged by government-run oil marketing firms across main cities in India as on 25 September. In Delhi, the cost of petrol is Rs.74.13 while that of diesel is Rs.67.07 per litre which means there has been no change in the prices since the previous day. On 24 September, however, there was an increase of 22 to 23 p per litre in petrol while diesel witnessed a hike of 14 to 15 paise per litre in all the 4 metropolitan cities. It is noteworthy that the retail fuel prices in Delhi are the cheapest among all metros and a majority of state capitals owing to the lower taxes. According to the data available on the website of Indian Oil Corp, the cost of petrol and diesel in Kolkata were Rs.76.82 per litre and Rs.69.49 per litre respectively. In Mumbai, petrol was sold at Rs.79.79 per litre while diesel was sold at Rs.70.37 per litre respectively. Petrol will cost Rs.77.06 per litre to the residents of Chennai while diesel would cost Rs.70.91 per litre.

      25 September 2019

    • Fuel Prices Remains Unchanged for the Third Straight Day

      State-owned Oil Marketing Companies (OMCs) kept fuel prices unchanged for the third day in a row today across major metro cities of the country. In Delhi, petrol costs Rs.69.93 per litre and diesel costs Rs.63.84 per litre, no revision in prices compared to yesterday’s rate. Prices of petrol and diesel are lower in Delhi compared to other metro cities and some state capitals due to lower taxes. In Kolkata, petrol is being sold at Rs.72.19 per litre and diesel costs Rs.65.76 per litre. In Mumbai, petrol is available at Rs.75.63 per litre and diesel costs Rs.66.93 per litre, no change in prices compared to yesterday’s rate. In Chennai, people have to shell out Rs.72.64 for a litre of petrol, while diesel costs Rs.67.52 per litre. In Noida and Gurugram, petrol is being retailed at Rs.69.94 and Rs.70.46 per litre, respectively, while diesel costs Rs.63.32 and Rs.63.42 per litre, respectively. In India, prices of petrol and diesel are calculated based on the dynamic fuel pricing mechanism which considers the 15-day average price of crude oil in the international market and the rupee-dollar exchange rate.

      It may be noted that petrol prices have fallen by Rs.1.69 per litre and diesel by Rs.2.52 per litre this month. On Wednesday, crude oil rates rose amid expectations for a US-China trade deal as well as due to the continued hostilities in the Middle East after oil tankers were attacked last week. International benchmark Brent Crude oil futures were trading at $62.48 per barrel, up by 0.6% or 34 cents compared to its previous settlement.

      21 June 2019

    • Opec Meeting in December is Very crucial to Determine if Oil Prices Are Going to Keep Surging

      S of 03 October 2018, the price of Brent crude oil hit $86 a barrel. However, the rise in Brent crude prices did not last long. In the following two months, the price of crude oil dropped by almost one-third. However, on Monday, the Brent crude prices increased by 5.3% in the intraday trading session. Does this sudden increase in prices mean that Brent crude prices will rebound? This will decide on what the Organization of the Petroleum Exporting Countries (Opec), and its friends, decide at its meetings on 6-7 December. Madhavi Mehta, Assistant Vice President (research) at Kotak Commodity Services Ltd, stated that the production cuts have to be significant this time for oil prices to bounce back meaningfully.

      6 December 2018

    • Petrol and Diesel Prices Remain Unchanged After 13th Consecutive Day of Reduction

      State-run oil firms kept petrol and diesel prices unchanged after 13 days of consecutive cuts. Petrol prices have come down by over Rs.2 per litre in Delhi, while diesel prices have reduced by over Rs.1.50 a litre. The decline in fuel prices over the last two weeks has offered some relief to consumers after relentless hikes in recent months. A litre of petrol in Delhi costs Rs.79.55, while diesel is being sold at Rs.73.78 a litre. In Mumbai, petrol is available at Rs.85.04 per litre and diesel costs Rs.77.32 a litre. In Kolkata and Chennai, petrol is available at Rs.81.43 and Rs.82.65, respectively, while diesel is being sold at Rs.75.63 and Rs.78. The retail price of petrol and diesel in India are based on the global crude oil price, the exchange rate of rupee over the U.S. dollar and taxes levied by the Centre and the respective State. The benchmark Brent Crude is trading at around $76 per barrel, while it had touched a four-year high of $86 earlier this month which led fuel prices to touch record highs in the country.

      2 November 2018

    • Petrol Stations are likely Face the Problem of the Price Display System

      Petrol stations are likely to face the issue of the price display system that can currently read up to Rs.99.99. If petrol prices keep increasing at the same speed, the fuel price is expected to reach the price mark of Rs.100 in Mumbai. Petrol is already retailing at a price more than Rs.91 a litre in the financial capital. M Prabhakar Reddy, who is the Chairman of All-India Petroleum Dealers Association, said , “The dispensing units at petrol stations were computerised thinking petrol prices will not cross the Rs.100 mark. It is now possible. If petrol rate touches the Rs.100 mark, it takes a lot of time to upgrade the existing system and make it ready to use.” As per the latest report by ET, oil marketing companies are considering to upgrade their system already, a recent ET report says.

      12 October 2018

    • Oil Marketing Companies to Sell Petrol at a Price more than Rs.91 a litre in Mumbai

      Indian Oil Company priced petrol at Rs.91.20 a litre in Mumbai, Rs.83.85 a litre in Delhi, Rs.87.18 a litre in Chennai and Rs.85.65 a litre in Kolkata under the daily price revision system on Tuesday, 2 September 2018. Diesel prices also increased since the price of Brent crude climbed to $85 a barrel, which is the highest price since the month of November 2014.

      The marketing price of petrol includes an excise duty of Rs.19.48 a litre and the sales tax, which is a state specific tax. As petrol is still outside the realm of Goods and Services Tax (GST), petrol prices will change amid the Indian states. Fuel rates are not so high in Delhi compared to other metro cities in India. The sales tax on diesel is 17.4% and on petrol is 27% in Delhi. They are higher in the remaining three metro cities. Chandigarh, Punjab, Uttar Pradesh, Haryana, Delhi and Himachal Pradesh wanted to make the tax rates common on crude oil products.

      3 October 2018

    • Petrol Prices Increased for the Sixth Day; Check Out Petrol Prices in Metro Cities

      On Tuesday, 7/8/2018, petrol rates increased for the 6th day in a row across all metro cities in India. Petrol price per litre in the capital city of India, Delhi, increased by 9 paise to Rs.77.06. In Mumbai, the capital city of Maharashtra, petrol price per litre was up 9 paise to Rs.84.50. In Kolkata, the capital city of West Bengal, the fuel price per litre was also up 11 paise to Rs.80. A litre of petrol was retailed at a price of Rs.80.07 in Chennai, the capital city of Tamil Nadu.

      On Monday, 6/7/2018, a litre of petrol was sold at Rs.76.97 in the national capital, Rs.79.89 in Kolkata, Rs.84.41 in Mumbai and Rs.79.96 in the city of Chennai. Crude oil rates increased on Tuesday prior to the introduction of US sanctions versus the well-known exporter of crude oil. As per a report released by Reuters, Spot Brent crude oil futures increased by 0.2% to $73.88 per barrel on Tuesday. It was also reported that US West Texas Intermediate (WTI) crude futures increased by 1% to $69.02 per barrel.

      8 August 2018

    • United States of America Intends to Crush the Fuel Oil Sector in Iran

      Since the pressures between the United States of America and Tehran increase prior to the next upsurge of sanctions, the prices of crude oil are expected to be highly lithesome and higher. As the first upsurge of the sanctions in the United States of America (USA) re-levied on Monday on the metal, financial, aviation and automation sectors of Iran. Hassan Rouhani, who is the present President of Iran, replied saying “The call that was made by President of United States of America, Donald Trump, was only for show in the USA but was not honest.

      On Monday, the prices of crude oil were lows since the production of crude oil dropped reasonably in the month of July in Saudi Arabia. Compared to the earlier month, the production of crude oil in Saudi Arabia in July was lower because of some reasons. The decrease in the production of unrefined oil in Iran has not been depicted in the marketplace yet, but the reduction in the production of crude oil is Saudi Arabia already established uneasiness in the market.

      8 August 2018

    • Check Out Diesel Rates as on 14 June 2018

      After the daily revision on 14 June 2018, prices of non-branded diesel stood at Rs.67.85 a litre, Rs.70.40 a litre, Rs.72.24 a litre and Rs.71.62 a litre in New Delhi, Kolkata, Mumbai and Chennai respectively. Today, non-branded diesel prices stood at Rs.65.99 a litre, Rs.65.18 a litre, Rs.68.36 a litre, Rs.69.02 a litre, Rs.71.41 a litre, Rs.72.73 a litre, Rs.65.89 a litre, Rs.68.18 a litre, and Rs.72.92 a litre in Agartala, Aizwal, Ambala, Bangalore, Bhopal, Bhubaneswar, Chandigarh, Dehradun and Gandhi Nagar respectively.

      14 June 2018

    • Petrol Prices Soared 14 Times Over the Last 17 Days

      Petrol prices have once again crossed their previous highs. On Monday, in Delhi, the petrol rate had been at a 4-year. At 06:00 a.m., the revised fuel price was released at Rs.73.95 per litre in the Delhi, the capital city. On the same day, the fuel was offered in Kolkata at Rs.76.66 per litre, Rs.81.8 per litre in Mumbai and Rs.76.72 per litre in Chennai. Since the third week of March 2018, the fuel rates in all the notable towns of India have been revised 14 times by state-run fuel retailers, including BPCL, HPCL and IOL.

      During the first three months of 2018, the petrol prices in Kolkata soared by 3.94 per litre, Rs.3.98 per litre in Delhi, Rs.3.93 per litre in Mumbai and Rs.4.19 per litre respectively. Brent futures were priced below $70 per barrel whereas Brent Crude Oil prices further increased to $71 per barrel previous week. On Tuesday, the exchange rate of the USD against the INR was Rs.65.01 at the forex market.

      5 April 2018

    • Petrol Price to trade at Rs.81 a litre

      The rate of petrol is unstoppable in Mumbai and reached a historical mark of Rs.81 per litre on 6 February 2018. Today, the cost of the fuel in the capital city is Rs.73.71 per litre. It is Rs.76 per litre in Kolkata whereas in Chennai it is Rs.76.04 per litre.

      Dharmendra Pradhan, Oil Minister, reacting to an issue, said “The Central Government had instructed all states to depreciate the VAT on petrol after cutting down the excise duty in October 2017, but it has not been done yet except a few states that include Gujarat, Himachal Pradesh, Madhya Pradesh and Maharashtra. Till date, only 4 state governments and 1 Union Territory have followed the instruction of deteriorating the tax.”

      He further said “The petrol price has been freed from the government control with effect from June 2010 and October 2014. Therefore, today we have a new fuel pricing methodology, which is used not only to determine and update the petrol rate considering the daily changes in crude oil costs and the conversion rate of the domestic currency against the base currency, which is the USD.”

      6 February 2018

    Petrol Price In Metro Cities
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