Petrol Price In Gurgaon Today

  • Today's Petrol Price ( 18 Apr 2019 )
    ₹ 72.83
    Current Petrol Price Per Litre
    Compare Petrol Price in Gurgaon (Today & Yesterday)
    Today
    (18 Apr 2019)
    Yesterday
    (17 Apr 2019)
    Rate Change
    Petrol ( / litre) ₹ 72.83 ₹ 72.83 ₹ 0 ↑
    Petrol Price in Gurgaon - Last 10 Days Data
    Date Petrol ( / litre)
    18 Apr 2019 ₹ 72.83
    17 Apr 2019 ₹ 72.83
    16 Apr 2019 ₹ 72.83
    15 Apr 2019 ₹ 72.87
    14 Apr 2019 ₹ 72.78
    13 Apr 2019 ₹ 72.78
    12 Apr 2019 ₹ 72.78
    11 Apr 2019 ₹ 72.73
    10 Apr 2019 ₹ 72.73
    09 Apr 2019 ₹ 72.73

    Petrol Rate Trend

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    Petrol Prices in Gurgaon

    Petrol was sold at an average price of Rs.69.80 per litre in November 2017. The price comprises of crude oil prices, taxes and OMC expenses. Oil marketing companies (OMCs) will revise fuel rates every day at 06:00 a.m. The price once revised will be uploaded in the websites of OMCs. Be advised to check the latest price in Gurgaon before you buy.

    Petrol Prices in Gurgaon 2017 (Price per litre)

    October September August July June
    Opening Date Price Rs.70.71 Rs.69.22 Rs.65.38 Rs.63.10 Rs.67.11
    Closing Date Price Rs.69.09 Rs.70.62 Rs.69.11 Rs.65.26 Rs.63.35
    Highest Rate Rs.70.83 Rs.70.62 Rs.69.11 Rs.65.26 Rs.67.11
    Lowest Rate Rs.68.23 Rs.69.22 Rs.65.38 Rs.63.08 Rs.63.35

    The highest rate over the last five months was Rs.70.83 per litre and the lowest price was Rs.63.08 per litre. Petrol prices have increased in September, August and July by 1.98%, 5.40% and 3.31% respectively. They have decreased in June and October by 5.94% and 2.34% respectively.

    State Levies – A Comparison

    Haryana Karnataka Uttar Pradesh Andhra Pradesh
    VAT on Diesel 17.22% 19% 20.19% 30.86%
    VAT on Petrol 26.25% 30% 32.90% 38.93%

    Source: Petroleum Planning and Analysis Cell (PPAC)

    Petrol Rate Comparison among Indian Cities

    The following table illustrates the Average Price of Petrol in November 2017:

    Gurgaon Bangalore Chennai Kolkata
    Petrol Price per litre Rs.69.00 Rs.70.80 Rs.72.35 Rs.72.55

    How are Petrol Prices in Noida Revised?

    India follows the dynamic fuel pricing system to revise fuel prices currently. What is dynamic fuel pricing? It is a fuel pricing system that reviews fuel rates on a daily basis on the basis of crude oil rates and the currency conversion rate. The system was introduced in June 2017 in India after running a 40-day pilot in five Indian cities. The United States of America (USA), Australia and Russia are other countries that follow the system.

    Features of Dynamic Fuel Pricing

    • The revision of petrol price is done at 06:00 a.m. every day.
    • All automated petrol stations will automatically revise the petrol price.
    • All non-automated petrol stations will manually revise the petrol price.
    • Dealers can manage working capital effectively.
    • The system enables dealers to better manage stock or inventory.
    • The fluctuations in crude oil rates and the INR/USD rate can be instantly shifted to end consumers.

    Petrol consumers in Gurgaon can track the current petrol price through downloading the mobile applications of oil marketing companies including Indian Oil, Bharat Petroleum and Hindustan Petroleum and Shell Oil. They can request the current price through SMS alerts and customer care support. Like mentioned earlier, oil marketing companies will update their websites after revising the price every day.

    How are Petrol Prices in Gurgaon Computed?

    The Retail Selling Price of petrol in Gurgaon consists of the following elements:

    Crude Oil Cost: Crude oil cost is the price charged by Indian oil marketing companies. As on 14 November 2017, the cost of crude oil per barrel was $62.85. One barrel of crude oil is equal to 159 litres. Freight charges are added to crude oil prices.

    Taxes: More than 50% of the retail selling price comprises of the central and state levies. The excise duty imposed on petrol as on 04 November 2017 was Rs.19.48 per litre. The local tax levied on the fuel as on the same date was 26.25% in Haryana.

    Refinery transfer price (RTP): Refinery transfer price (RTP) is charged by refineries. After importing crude oil, oil marketing companies will deliver it to refineries for further processing. RTP is paid by OMCs.

    OMC Expenses: Expenses incurred by oil marketing companies consist of entry levies, operational costs, marketing expenses, distribution expenses and profit margin of OMCs. The commission charged by dealers and pollution cess are other two components of the RSP.

    What are the factors affecting Petrol Prices in Gurgaon?

    The exchange rate, crude oil rates and taxes are the elements affecting the petrol price in Gurgaon. The exchange rate is the ratio between the value of the INR and the USD. The Central Bank of India, the Reserve Bank of India fixes the exchange rate. The exchange rate is impacted by several factors including interest parity rates, interest rates, exports and imports, the overall public debt of a country and the inflation rate. There are many factors that influence crude oil prices. The most common factors include seasonal variations, weather conditions, the capabilities of refineries, political moves in oil-producing nations and many more.

    The retail Selling Price of Petrol increases if:

    • The INR falls against the USD
    • Crude oil prices increase
    • The central excise duty increases
    • The local tax increases

    The retail Selling Price of Petrol decreases if:

    • The INR gains against the USD
    • Crude oil rates decrease
    • The local tax (state VAT) decrease
    • The central excise duty decrease

    Impact of GST on petrol prices in Gurgaon

    GST Impact on Petrol Costs in Gurgaon

    Let’s take a look at how much is taxed on petrol.

    Excise Duty Rs.19.48 per litre
    Commission Charged by Dealers Rs.2.5 per litre
    Gross Price before VAT Rs.51.48 per litre
    26.25% VAT on gross price Rs.13.51 per litre
    Pollution cess at 25p Rs.0.25 a litre
    Retail Price of Petrol (RSP) Rs.65.63 a litre

    21.5% of the retail price of petrol goes towards the state and 32% to the central government. How does GST affect petrol prices in Gurgaon?

    If GST is imposed at 12%, the cost per litre will be Rs.38.10.

    If GST is imposed at 18%, the cost per litre will be Rs.40.05.

    If GST is imposed at 28%, the cost per litre will be Rs.43.44.

    The Goods and Services Tax (GST) is a comprehensive tax system introduced in India in July 2017. It is imposed on various types of commodities and services at 5%, 12%, 18% and 28% currently. GST does not affect petrol prices in Gurgaon since petrol has not been included under the GST regime.

    Also Check Petrol Price in NearBy Cities of Gurgaon

    *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 Gurgaon

    • Petrol Prices Decline by Up To 45 Paise Per Litre

      Fuel prices witnessed another reduction in prices on Tuesday after which petrol rates dropped below the Rs.80 per litre mark in Mumbai. Petrol and diesel prices were cut by up to 40 to 45 paise per litre across four major metro cities of the country. After today’s revision in prices, petrol in Delhi costs Rs.74.07 per litre as compared to Rs.74.49 per litre on Monday, while the diesel price in Delhi was reduced to Rs.68.89 per litre as against Rs.69.29 per litre yesterday as per the Indian Oil Corporation Ltd. (IOCL) website. In Mumbai, petrol now costs Rs.79.62 per litre compared to Rs.80.03 per litre recorded yesterday. Diesel prices in Mumbai declined to Rs.72.13 per litre, down by 43 paise. In Chennai, petrol was being sold at Rs.76.88 per litre and diesel at Rs.72.77 a litre, while in Kolkata, petrol is available at Rs.76.06 per litre and diesel at Rs.70.74 per litre. In November, so far, petrol prices have declined by nearly Rs.5.50 per litre, while diesel prices have come down by Rs.5 per litre across major metro cities of the country.

      27 November 2018

    • Petrol Sold at Rs.84 Per Litre in Delhi

      Petrol and diesel prices witnessed a hike on Thursday. In Delhi, the petrol price inclined by 15 paise per litre, while the diesel price was increased by 20 paise a litre. With the revision in prices, petrol now costs Rs.84, while diesel costs Rs.75.45 in Delhi. In Mumbai, petrol prices were hiked to touch Rs.91.34 per litre and diesel is being sold at Rs.80.10 per litre, an increase of 14 paise and 21 paise respectively. Fuel prices have been touching new highs since mid-August 2018, the petrol price has increased by Rs.6.59 a litre, while diesel by Rs.6.37 per litre. Fuel rates are the cheapest in Delhi due to its lower local sales tax or VAT, while its the highest in Mumbai. Oil companies revise fuel prices on a daily basis under the dynamic fuel pricing mechanism. They arrive at the final selling price of petrol and diesel by including the global crude oil price and the exchange rate of the Indian rupee over the U.S. dollar. While the crude oil price has gone up coupled with the drop in the Indian currency has led to the significant rise in fuel prices in the country.

      12 October 2018

    • The High Court of Delhi Discharges the Applications Seeking Formula of Petrol Pricing

      The High Court of Delhi rejected the petition seeking to reveal the formula of petrol pricing on Wednesday, 19 September 2018. The application sought track to the centre in order to reveal the formula based on which the prices of diesel and petrol are being determined. A bench of Chief Justice Rajendra Menon and justice V Kameswar Rao rejected to interfere with the policy of the government on revising petrol rates. A Maitri, who is an advocate of a Delhi-based designer sought the direction in order to call records from the Central Government, including fuel marketing companies.

      The court was hearing an application registered by a designer from Delhi, inquiring to reveal the formula and provide information based on which fuel prices are revised. The petitioner said “People were fronting challenges. The fuel marketing companies were retailing their previous stocks of diesel and petrol at enhanced rates” The application, which was registered on the pending public interest lawsuit, requested the pricing of petrol and diesel is a policy matter consisting bigger economic matters.

      20 September 2018

    • Crude Oil Rates Cause Economic Recessions

      Crude oil prices increased by 20% during the first six months of 2018. The next economic downturn will be triggered by the highest crude oil costs. This cannot be a surprise for an investor. A rise in crude oil rates followed the last 5 recessions occurred in the United States of America. Mark Zandi, who is a chief economist at Moody’s, said that rapidly growing crude oil rates are contributing to recessions since the Second World War. Chances of a 2020 US downturns have increased to 34% from 28% prior to the current year’s spike in unrefined oil. Zandi further said that the decision of Donald Trump to reduce tax, a deal on Capitol Hill to increase the spending of the government and the variation between long-run and short-run bank interest rates have also been contributing to the recession risk.

      27 July 2018

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