Petrol Price In Gulbarga Today

  • Today's Petrol Price ( 06 Dec 2021 )

    ₹ 100.27
    Current Petrol Price Per Litre

    Compare Petrol Price in Gulbarga (Today & Yesterday)

    Rate Change
    Petrol ( / litre) ₹ 100.27 ₹ 100.27 ₹ 0 ↑

    Petrol Price in Gulbarga - Last 10 Days Data

    Date Petrol ( / litre)
    05 Dec 2021 ₹ 100.27
    04 Dec 2021 ₹ 100.27
    03 Dec 2021 ₹ 100.27
    02 Dec 2021 ₹ 100.27
    01 Dec 2021 ₹ 100.27
    30 Nov 2021 ₹ 100.27
    29 Nov 2021 ₹ 100.27
    28 Nov 2021 ₹ 100.27
    27 Nov 2021 ₹ 100.27
    26 Nov 2021 ₹ 100.27

    Petrol Rate Trend

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    Petrol Price in Gulbarga

    Petrol price in Gulbarga, a major city in the South Indian state of Karnataka, varies on a daily basis. Officially known as Kalaburagi, the city of Gulbarga was previously a part of Hyderabad State but was later incorporated into Karnataka State.

    Located close to two different states – Karnataka and Telangana, the city has a population of more than 10 lakh according to 2014 census. Located in the Gulbarga urban region, the city boasts a large number of private and personal vehicles.

    Petrol price in Gulbarga hence plays a critical role in the day-to-day life of a common man. Just like in other Indian cities, petrol price in Gulbarga is composed of various elements, few of which vary on a daily basis, while other elements affect the rate of petrol once in a while.

    To better understand the dynamics of petrol pricing in Gulbarga, why it varies on a daily basis, why is it on a constant rise for the past few years, etc., let’s drill down further into the topic.

    Factors affecting Petrol Rate in Gulbarga

    Petrol price in Gulbarga, similar to other Indian cities, is made of various national and international elements. While International factors such as international crude oil price and currency exchange rate affect petrol price in the city on a daily basis, domestic elements including central and state government taxes, oil company’s profit margins and dealer’s commission, do show some impact on petrol prices but not on a daily basis.

    Let’s us look at each element that affects petrol price in Gulbarga in detail.

    • Indian Crude Basket: More than 70% of India’s crude oil requirements are being imported from other countries. The price of Indian crude basket, which is the price of crude oil imported by Indian oil companies, thus plays a critical role in petrol pricing in India.

    The price of crude oil is dynamic in nature and changes on a daily basis depending on a lot of external factors such as demand and supply metrics, climatic conditions and political stability in oil-producing countries. To calculate today’s petrol price in Gulbarga, yesterday’s price of Indian crude basket will be considered.

    • Currency exchange rate: Crude oil trading typically happens in US dollars across the globe. Indian companies purchase each barrel of oil in US dollars. Hence, while computing petrol price in Gulbarga, each US dollar will be converted to corresponding Indian rupees. The fluctuating nature of dollar thus shows an impact on the petrol price on a daily basis. Whenever the dollar strengthens, petrol price in Gulbarga increases and whenever Indian rupee strengthens petrol price declines.
    • Central government taxes on petrol: Indian government collects excise duty on every litre of petrol sold in the country. All the states in India will be charged equal amount of excise duty on petrol. Currently, the excise duty on petrol in India is Rs.19.48 per litre. The recent tax cut happened in February 2017, when the central government reduced excise duty on Petrol and diesel by Rs.2 per litre.
    • Karnataka state tax on petrol: The state governments collects value-added tax (VAT) on every litre of petrol sold in their respective state. Unlike central government’s excise duty, the VAT on petrol varies from one state to another as VAT will be charged differently by each state government.

    Karnataka State government currently levies a VAT of 28.31% on every litre of petrol sold in the state. Since Gulbarga comes under the state, the same VAT applies for the petrol sold in the city.

    • Profit margins of oil companies: The profit margins of Indian oil companies that include crude oil transportation charges, refining costs, and marketing costs do affect the petrol price in Gulbarga. However, the change may not be on a regular basis. Whenever there is a revision in profit margins, petrol prices in the city would get affected.
    • Dealer’s commission: Dealers purchase refined oil from oil companies and sell it in their respective petrol pumps. They add oil transportation cost from the refinery to fuel station, pump maintenance costs, etc., in the form of dealers commission to the cost price of petrol. The dealer’s commission is usually decided by the oil companies and will be revised once every year. Hence, it will not show continuous effect on petrol price in Gulbarga.

    Components of Petrol Price in Gulbarga, Karnataka

    Using the factors listed above, let’s see how the petrol rate in Gulbarga on 27th April 2018 was calculated.

    S.NO Component Price
    1 International crude oil price along with ocean freight charges $79.65 per barrel = Rs.32.86/Litre (considering $1=65.61 and 1 barrel oil = 159 litres)
    2 Oil company’s margin, transportation, refining and freight cost Rs.2.82/Ltr
    3 Excise duty Rs.19.48/Ltr
    4 Dealer’s commission Rs.3.60/Ltr
    5 Value added tax (VAT) Rs.17.08/Ltr
    Total Retail selling price of petrol at Gulbarga Rs.75.84/Ltr

    Frequently Asked Questions (FAQs) on petrol price in Gulbarga

    1. Why does petrol price in Gulbarga change on a daily basis?
    2. Petrol price in Gulbarga changes every day because of the dynamic fuel pricing model. The new pricing mechanism was implemented in India in June 2017. Based on the new pricing model, petrol prices in Gulbarga will be revised every day considering previous day’s international crude oil price and currency exchange rate. Every petrol pump in Gulbarga will update the new prices every day by 6 a.m.

    3. Why petrol prices in Gulbarga are lesser compared to petrol prices in Hyderabad?
    4. Though Gulbarga is located close to Hyderabad, petrol price in the former city is lesser compared to petrol prices in Hyderabad because of the state government tax. As mentioned earlier, VAT charged on petrol differs from one state government to another. Since Karnataka levies lesser VAT compared to Telangana government, the price of petrol in Hyderabad is higher than in Gulbarga.

    5. What is the impact of GST on petrol price in Gulbarga?
    6. GST or the goods and services tax was the new taxing system currently in use in India. Since the new tax regime is implemented recently, it is not being applied to all categories of products and services. Though most of the manufactured goods and services and taxed under GST, a few retail products are still kept outside GST net. Petrol and other fuel products are not taxed under GST. Hence, we could still see both the central and state governments collecting separate tax on petrol and diesel. GST thus has no impact on petrol prices in Gulbarga and also in rest of the country.

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    *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 Gulbarga Today

    • Petrol Prices cut for the Sixth Consecutive Day

      Oil Marketing Companies (OMCs) on Tuesday cut the rates of petrol for the sixth consecutive day. In the metropolitan cities of the country, the rates were cut by 25-26 paise per litre. Following the revision of the prices on Tuesday, every litre of petrol was retailed for Rs.71.18 in the national capital, after the rates were reduced by Rs.0.25. In Mumbai, Kolkata, and Chennai consumers needed to shell out Rs.76.79, Rs.73.25, and Rs.73.88 respectively for one litre of petrol.

      In the international oil market, the prices of crude oil went up on Tuesday. The futures of Brent crude oil were up by 6 cents to be trading at $70.27 per barrel. It needs to be mentioned here that the rates of fuel in the country are dependent on global oil prices on a 15-day average and the value of rupee against the US dollar. This is because the country imports 80% of its crude requirements.

      15 May 2019

    • Price of Petrol and Diesel Rise to Counter the Price Cut

      Petrol and diesel prices increased in 4 metro cities yet again on Monday, the 15th of October, 2018 by 8 paise and 9 paise respectively. In Kolkata, the price of diesel was Rs.77.31 per litre increasing by 9 paise whereas in Delhi, diesel prices touched Rs.75.46 per litre increasing by 8 paise.

      Both Chennai and Mumbai saw a increase of diesel prices by 9 paise and is sold at Rs.79.80 per litre and Rs.79.11 per litre. Compared to diesel, the price of petrol was stagnant in these 4 cities. The price of petrol in Mumbai is Rs.88.18 per litre, in Chennai, petrol is Rs.85.99 per litre. Petrol prices in Delhi is at Rs.82.72 and in Kolkata, Rs. 84.54

      23 October 2018

    • Petrol and Diesel Prices Kept Unchanged Today

      Petrol and diesel prices kept unchanged on Sunday after increasing them for three straight days by State-owned Oil Marketing Companies (OMCs). As per the rate chart of India’s leading oil company Indian Oil, petrol is being retailed at Rs.76.95 per litre in Delhi and in Mumbai it is being sold at Rs.84.33 per litre. Petrol prices in Chennai and Kolkata stand at Rs.79.87 and Rs.79.61 a litre respectively. Diesel is being sold at Rs.68.61 per litre in Delhi, Rs.72.80 in Mumbai, Rs.71.16 in Kolkata and Rs.72.43 per litre in Chennai. The rates are effective from 6:00 a.m. IST on 15 July 2018. OMCs revise fuel prices under the ‘Dynamic Fuel Pricing’ mechanism when fuel prices are updated daily taking into account the preceding day’s crude oil price and the currency exchange rate. This pricing methodology came into effect from June last year.

      16 July 2018

    • Petrol Prices Kept Unchanged Today

      After a marginal cut yesterday, petrol prices have been kept unchanged on Wednesday. Petrol was being retailed at Rs.76.27 a litre in Delhi, while prices in other metros Kolkata, Mumbai and Chennai stood at Rs.78.94, Rs.84.06 and Rs.79.16 a litre respectively. On Tuesday petrol prices were cut by 8 to 12 paise per litre. The decline in petrol prices is attributed to the fall in the global crude oil prices and a stronger rupee over the US dollar. Petrol prices have significantly declined from Rs.78.29 a litre on 1 June 2018 in Delhi, Rs.86.10 in Mumbai, Rs.80.92 in Kolkata and Rs.81.28 a litre in Chennai. In the last 20 days, petrol prices have reduced by Rs.2.02 a litre in the National Capital.

      20 June 2018

    • Petrol Prices remain Unchanged today prior to the Union Budget 2018

      The price of petrol was seen unchanged on the last day of January 2018. It stood at Rs.80.79 a litre a day prior to the Union Budget 2018 in Mumbai. The fuel traded at Rs.72.92 a litre on 31 January 2018. Similarly, the petrol prices stood at Rs.75.62 a litre and at Rs.75.63 a litre respectively in Kolkata, the capital city of West Bengal, and Chennai, the capital city of Tamil Nadu. In January 2018, petrol rates were at their 3-year highest price.

      On 30 January 2018, Sanjiv Singh, who is the Chairman of Indian Oil Company, said that all petroleum sub- products must be included under the present tax system, which is the Goods and Services Tax shortly. If the petroleum products are taxed under the GST purview, it shall be a continuous process. If not in the short-run, everyone would want to pay taxes at the GST rates.

      31 January 2018

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