Petrol Price In Hyderabad Today

Petrol Rate in Hyderabad

Hyderabad is fast becoming a large metropolitan city with several people migrating with the massive opportunities in the Information Technology industry. Consumption of petrol in Hyderabad has an increase in the recent past, making it an essential commodity for the common man.

Prior to 16 June 2017, Petrol Price in Hyderabad were revised every 15-days or two weeks, revising the price on the 1st and 16th of every month. The pricing mechanism was based on the 15-day average price of the crude oil in the international market as well as the rupee-dollar exchange rate. Presently, India has moved to a new pricing method known as the ‘Dynamic Fuel Pricing’.

Under the new method, the petrol price in Hyderabad is revised daily by considering the 14-day average price of crude oil and the rupee-dollar exchange value. The new fuel price is effective from 6:00 am IST. State-run Oil Marketing Companies (OMCs) such as Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd. (HPCL) fix the final selling price of petrol in Hyderabad.

Also Know: Diesel Price In Hyderabad

Trend of Petrol Price in?Hyderabad for January 2021 (Rates per litre):

January – Week 1 (1 - 7):

• Petrol price in Hyderabad?stood at Rs.87.02?per litre on the 1st of January.
• Petrol prices increased in the next few days, closing the week at Rs.87.59 per litre.
• The overall percentage change was 0.65%.

Trend of Petrol Price in Hyderabad for December 2020 (Rates per litre):

December – Week 1 (1 - 7):

• Petrol price in Hyderabad stood at Rs.85.64 per litre on the 1st of December.
• Petrol prices continued to go up, closing the week at Rs.87.02 per litre.
• Massive increase in oil prices could be attributed to increase in global crude oil prices and higher fuel taxes levied by the central and state governments.

December – Week 2 (8 - 14):

• Petrol price in Hyderabad stood at Rs.87.06 per litre on the 8th of December.
• Petrol prices fluctuated a bit before closing the week at Rs.87.06 per litre.
• The overall percentage change was 1.65%.

December – Week 3 (15 - 21):

• Petrol price in Hyderabad stood at Rs.87.06 per litre on the 15th of December.
• Petrol prices were more or less stable, closing the week at Rs.87.06 per litre.
• The overall percentage change was 1.42%.

December – Week 4 (22 - 28):

• Petrol price in Hyderabad stood at Rs.87.06 per litre on the 22nd of December.
• Petrol prices were more or less stable, closing the week at Rs.87.06 per litre.
• The overall percentage change was 1.65%.

December – Week?5?(29 - 31):

• Petrol price in Hyderabad?stood at Rs.87.02?per litre on the?29th of December.
• Petrol prices were stable, closing the week at Rs.87.02 per litre.
• The overall percentage change was 1.61%.

Trend of Petrol Price in Hyderabad for November 2020 (Rates per litre):

November – Week 1 (1 - 7):

• Petrol price in Hyderabad stood at Rs.84.25 per litre on the 1st of November, unchanged from its previous day’s closing price.
• After staying stable for the next few days, petrol increased to Rs.84.31 per litre.
• The overall percentage change was 0.07%.

November – Week 2 (8-14):

• Petrol price in Hyderabad stood at Rs.84.25 per litre on the 8th of November, dropping a bit from its previous day’s closing price.
• Petrol closed the week at Rs.84.31 per litre.
• The overall percentage change of petrol in Hyderabad was 0.07%.

November – Week 3 (15-22):

• Petrol price in Hyderabad stood at Rs.84.73 per litre on the 22nd of November, crawling up as state-run oil marketing companies decided to hike oil prices.
• The overall percentage change of petrol in Hyderabad was 0.58% upwards.
• In the international oil market, prices climbed up in anticipation of an early recovery in demand following news of a third successful COVID vaccine candidate.

November – Week 4 (22-30):

• Petrol price in Hyderabad stood at Rs.85.64 per litre on the 30th of November, showing a steady hike as state-run oil marketing companies decided to hike oil prices.
• The overall percentage change of petrol in Hyderabad was 1.64% upwards.
• In the international oil market, oil prices rose due to increased demand catapulted by the possible release of COVID vaccine.

Trend of Petrol Price in Hyderabad for October 2020 (Rates per litre):

October – Week 1 (1 - 7):

• Petrol price in Hyderabad stood at Rs.84.25 per litre on the 1st of October, unchanged from its previous day’s closing price.
• The oil stayed stable throughout the week and closed at Rs.84.25 per litre.
• In the international oil market, prices dropped after US President Donald Trump dismissed the speculations to provide a fourth stimulus package to boost the coronavirus-hit economy.

October – Week 2 (8 - 14):

• Petrol in Hyderabad stood at Rs.84.25 per litre on the 8th of October, unchanged from its previous day’s closing price.
• Petrol price in Hyderabad increased to Rs.84.31 per litre before dropping back to Rs.84.25 per litre.
• In the international oil market, prices dropped because of the concerns related to spike in coronavirus cases.

October – Week 3 (15 - 21):

• In Hyderabad, a litre of petrol was retailed for Rs.84.31 on 15th October. Compared to the closing price of the previous week, the price of the fuel was up by 6 paise.
• While the rates remained stagnant till 18th October, petrol price slipped to Rs.84.25 on 19th October in the city.
• Petrol price in Hyderabad closed the third week of October at the same price. Petrol’s overall performance in the city remained stable.

October – Week 4 (22 - 28):

• A litre of petrol was retailed for Rs.84.25?at the start of the fourth week of October. When compared to the previous week’s closing price, the price of the fuel saw no change.
• The rate of the fuel climbed to Rs.84.31 per litre on 24th October before slipping to Rs.84.25 on 26th October.
• Petrol price in Hyderabad closed the week at the same price as the rates didn’t see any change over the remainder of the week. Petrol’s overall performance in the city remained stable.

October – Week 5 (29 - 31):

• Petrol price in Hyderabad stood at Rs.84.25 on the 29th of October, unchanged from previous day’s closing price.
• Petrol closed the month at the same price with no change whatsoever.
• Meanwhile, in the international oil market prices fell as coronavirus infections surged in the US and UK prompting renewed lockdowns and reducing demand for the oil.

Trend of Petrol Price in Hyderabad for September 2020 (Rates per litre):

September – Week 1 (1 - 7):

• Petrol price in Hyderabad at the start of the first week of September was Rs.85.37 per litre. There was an incline of 6 paise in the rates when compared to the closing price of the previous month.
• The price of petrol in the city was didn’t see much fluctuations over the week. While the rates remained stagnant till 3rd September, it dropped on 4th September and recorded the lowest price for the month till date. A litre was retailed for Rs.85.30 on the mentioned date.
• While the rates improved the following day, it dropped on 6th September and closed the week at Rs.85.30 per litre. The overall performance witnessed a declining trend with the percentage change being -0.08%.

September – Week 2 (8 to 14):

• For the month of September, petrol opened at the rate of Rs.85.37 per litre in Hyderabad. When compared to the previous closing rate, there was a hike of 6 paise in the price of the fuel.
• The price of the fuel witnessed fluctuations in the first two weeks of the month. The lowest price of the fuel was recorded on 14th September wherein it stood at the rate of Rs.84.99 per litre. The highest recorded price of the fuel was Rs.85.37.
• On the last day of the second week, that is on 14th September, the liquid gold was being traded at the rate of Rs.84.99 per litre. The overall performance of the fuel witnessed a decline of –0.45%.

September – Week 3 (15 to 21):

• Petrol price in Hyderabad dipped over the second week of September, despite breaching the 80 rupee mark.
• Petrol closed the week at Rs.84.39 per litre, its lowest recorded price in September till now.
• The overall performance of petrol in Hyderabad was -1.14%.

September – Week 4 (22 - 30):

• The price of petrol in Hyderabad at the start of the final week of September was Rs.84.31. There was a dip of incline of 8 paise in the rates when compared to the price charged on the final day of the previous week.
• The price of petrol didn’t see much fluctuations in the city over the week. The rates remained stagnant till 27th September before dropping on 28th September.
• Petrol closed the month at Rs.85.25 per litre. This was the lowest recorded price of the fuel for the month. The fuel’s overall performance witnessed a declining trend with the percentage change being -0.14%.

Trend of Petrol Price in Hyderabad for August 2020 (Rates per litre):

August – Week 1 (1 - 7):

• The petrol price in Hyderabad at the start of the month was Rs.83.66 per litre. The rates increased by 17 paise when compared to the price charged at the end of the previous month.
• Petrol rates didn’t see any change in the city over the opening week of August.
• The overall performance of petrol was stable in Hyderabad as the rates remained stagnant over the week.

August – Week 2 (8 – 14):

• At the start of the second week of August, a litre of petrol price in Hyderabad was being traded at the rate of Rs.83.66 in Hyderabad. Compared to the closing price of the previous week, the price of the fuel increased by 17 paise per litre.
• Throughout the month, the price of the fuel was more or less stable and had witnessed only minor fluctuations. There was a decrease of 19 paise per litre in the price of the liquid gold.
• The lowest price of the fuel which was recorded in the month of August was Rs.83.47. This was recorded on 10 and 11 August. There was an overall performance of the fuel was stable.

August – Week 3 (15 – 21):

• At the start of the third week of August, the price charged for a litre of petrol in Hyderabad was Rs.83.47. Compared to the closing price of the previous week, the price of the fuel was down by 19 paise.
• The price of petrol was on the upward curve following that and jumped to Rs.84.07 per litre on 18th August.
• The increase in petrol rates continued over the last two days of the week and closed at Rs.84.38 per litre. This was the highest recorded price of the fuel for the month till date. The percentage change recorded in the rates was 0.86%.

August – Week 4 (22 – 31):

• For the month of August, petrol opened at the rate of Rs.83.66 per litre in Hyderabad. When compared to the previous rates, there was no change in the price of the fuel.
• The price of the fuel witnessed a gradual rise for the rest of the month. The prices were the lowest from 11th and 15th August. During these days, the price of the petrol at which it was being traded was Rs.83.47 per litre.
• The 4th week of August ended on 31st August wherein the liquid gold was being traded at the rate of Rs.85.31 per litre. The overall performance of the fuel witnessed an incline of 1.97%.

Trend of Petrol Price in Hyderabad for July 2020 (Rates per litre):

July – Week 1 (1 - 7):

• Petrol price in Hyderabad opened the month of July at Rs.83.49 per litre. There was no change in the rates when compared to the price charged on the final day of the previous month.
• The opening price of the fuel in the city was the highest for the month till date. The rates remained stagnant in Hyderabad over the next couple of days before dropping by 2 paise on 4th July and recording its lowest for the month.
• While there was a slight improvement in the rates the following that, it dropped again and closed the week at Rs.83.47 per litre. The rates witnessed a declining trend with the percentage change being -0.02%.

July – Week 2 (8 - 15):

• A litre of petrol was retailed for Rs.83.47 at the start of the second week of July in Hyderabad. Compared to the closing price of the previous week, there was no change in the rates of fuel.
• Over the week, the rates didn’t see any change in the city as Oil companies refrained from doing so.
• Petrol’s overall performance in the city witnessed a declining trend in the rates. The percentage change recorded was -0.02%.

July - Week 3 (15 – 21):

• In Hyderabad, petrol price at the start of the third week of July was Rs.83.47 per litre. The opening price of the fuel was the same when compared to the closing price of the previous week.
• Petrol rates remained unchanged over the week as oil companies decided against increasing or decreasing the prices even though crude oil prices witnessed change in the international oil market.
• Petrol price in Hyderabad witnessed a declining trend over the week. The percentage change recorded in the rates was -0.02%.

July - Week 4 (22 – 28):

• The price of petrol in Hyderabad was Rs.83.47 per litre on 22nd July. There was no change in the rates when compared to the price charged at the end of the previous week.
• As state-run Oil Marketing Companies (OMCs) decided against changing the rates, petrol price remained stagnant in the city over the week.
• Petrol price in Hyderabad witnessed a declining trend with the percentage change standing at -0.02%.

July - Week 5 (29 – 31):

• In Hyderabad, a litre of petrol was retailed for Rs.83.49 on 29th July. Compared to the price charged at the end of the previous week, there was a minimal increase of 2 paise in the rates.
• The price of petrol didn’t see any change over the next two days and closed the month at the same price.
• Petrol’s overall performance in the city was stable.

Trend of Petrol Price in Hyderabad for June 2020 (Rates per litre):

June – Week 1 (1 - 7):

• Petrol opened the first week of June at Rs.73.95 per litre in Hyderabad. There was no change in the rates when compared to what was charged on the final day of the previous month.
• For the first six days of the week, the rates didn’t see any change as state-run Oil Marketing Companies (OMCs) decided against it.
• On the final day of the week, petrol price increased by 60 paise and was retailed for Rs.74.55 per litre. This was the highest price for the month till date.
• Petrol’s overall performance witnessed an inclining trend in the rates with the percentage change being 0.81%.

June – Week 2 (8 - 14):

• A litre of petrol was retailed for Rs.75.22 per litre in Hyderabad on 8th of June. The rates of the fuel witnessed an inclining trend over the second week of June.
• With state-owned Oil Marketing Companies (OMCs) increasing the rates of petrol every day, the rates jumped to Rs.76.82 per litre on 11th of June in the city.
• The fuel closed the week at Rs.78.67 per litre, the highest for the month till date. The percentage change recorded in the rates of the fuel in Hyderabad was 6.35%.

June – Week 3 (15 - 21):

• A litre of petrol was priced Rs.79.17 in Hyderabad at the start of the third week of June. Compared to the price charged on the final day of the previous week, the rates were up by 50 paise.
• Petrol rates increased gradually in the city over the week. The rates breached the mark of Rs.80 on 17th June with a litre costing Rs.80.22. The increase in the rates was seen as state-run Oil Marketing Companies continued to hike the rates.
• In Hyderabad, petrol closed the week at Rs.82.85 per litre. This was the highest price of petrol for the month till date. The percentage change recorded in petrol price was 11.19% in the city.

June – Week 4 (22 – 30):

• In Hyderabad, a litre of petrol was retailed for Rs.82.59 at the start of the final week of June. There was an incline of 34 paise in the rates when compared to the closing price of the previous week.
• Over the week, the rates witnessed an inclining trend in the city as state-run Oil Marketing Companies (OMCs) continued to hike the price of petrol.
• Petrol closed the week at Rs.83.49 per litre in the city. This was the highest recorded price of the fuel for the month of June. The percentage change in the rates stood at 12.87%.

Trend of Petrol Price in Hyderabad for May 2020 (Rates per litre):

May – Week 1 (1 - 7):

• Petrol price in Hyderabad stood at Rs.73.97 per litre on the 1st of May, unchanged from its previous day’s closing price.
• Petrol stayed stable for the next few days, closing the week at Rs.73.97 per litre. Meanwhile, the Indian Government increased excise duty on petrol by a record Rs 10 per litre, and on diesel by Rs 13 per litre.
• The overall performance of petrol in Hyderabad was stagnant with no hike or decline in prices.

May – Week 2 (8-14):

• Petrol price in Hyderabad stood at Rs.75.54 per litre on the 8th of May, unchanged from its previous day’s closing price.
• Petrol stayed stable for the next few days and closed the week at Rs.75.54 per litre after the Indian Government increased excise duty on petrol by a record Rs 10 per litre, and on diesel by Rs 13 per litre.
• The overall performance of petrol in Hyderabad was 4.51%, trending upwards.

May – Week 3 (15 - 21):

• Petrol price in Hyderabad stood at Rs.73.97 per litre on the 15th of May, unchanged from its previous day’s closing price.
• Petrol prices remained stable and closed the week at Rs.73.97 per litre. Meanwhile, the Indian Government increased the excise duty on petrol by a record Rs 10 per litre, and on diesel by Rs 13 per litre.
• The overall performance of petrol in Hyderabad was stable with no changes in the price whatsoever.

May – Week 4 (22 - 28):

• Petrol started the week at Rs.73.97 per litre in Hyderabad. There was no change in the rates when compared to the closing price of the previous week.
• The rates remained unchanged over the entire week as state-run Oil Marketing Companies (OMCs) decided against increasing or decreasing the prices.
• In Hyderabad, the overall performance of petrol remained stable at the end of the fourth week of May.

May – Week 5 (29 - 31):

• In Hyderabad, petrol opened the final week of May at Rs.73.95 per litre. Compared to what was charged on the final day of the previous week, there was a decline of 2 paise.
• The rates shot up in the city the following day. Petrol recorded its highest price for the month after the rates saw an increase of 15 paise. A litre of petrol cost Rs.74.10 on the mentioned date.
• On the final day of the month the rates slipped and closed the month on Rs.73.95 per litre. Given that there was no difference in the opening and closing price for the month, the overall performance remained stable in the city.

Trend of Petrol Price in Hyderabad for April 2020 (Rates per litre):

April – Week 1 (1 - 7):

• Petrol price in Hyderabad stood at Rs.73.95 per litre on the 1st of April, unchanged from its previous day’s closing price.
• After staying stable for the next few days, petrol jumped to Rs.73.97 per litre on account of hike in state sales tax or VAT rates.?In the international oil market, demand for the crude were low due to the ongoing COVID-19 pandemic.
• The overall performance of petrol in Hyderabad was 0.02%.

April – Week 2 (8-14):

• Petrol in Hyderabad stood at Rs.73.95 per litre on the 1st of April, unchanged from its previous day’s closing price.
• After staying stable for the next few days, petrol jumped to Rs.73.97 per litre on account of hike in state sales tax or VAT rates.In the international oil market, demand for the crude were low due to the ongoing COVID-19 pandemic.
• The overall performance of petrol in Hyderabad was 0.02%.

April – Week 3 (15 - 21):

• Petrol price in Hyderabad stood at Rs.73.97 per litre on the 15th of April, unchanged from its previous day’s closing price.
• Petrol stayed stable for the next few days, closing the week at Rs.73.97 per litre. In the international oil market, oil prices crashed record two-decade low due to the COVID-19 pandemic, thereby sending ripples across countries.
• The overall performance of petrol in Hyderabad was 0.02%.

April – Week 4 (22 - 28):

• Petrol price in Hyderabad stood at Rs.73.97 per litre on the 22nd of April, unchanged from its previous day’s closing price.
• Petrol stayed stable for the next few days, closing the week at Rs.73.97 per litre as the state-run oil marketing companies decided to keep the prices stagnant. In the international oil market, oil prices?crashed a two-decade low due to the COVID-19 pandemic, thereby sending ripples across countries.
• The overall performance of petrol in Hyderabad was 0.02%.

Trend of Petrol Price in Hyderabad for March 2020 (Rates per litre):

March – Week 1 (1 – 7):

• Petrol price in Hyderabad opened at the rate of Rs.74.49 per litre on the 1st of March 2020. This was the highest recorded rate for the fuel during the first week of the month.
• In the wake of the Corona virus, the economy has been slowing down significantly. Investors have also been jittery about it which has also led to a major drop in the value of the Indian Rupee against the US Dollar (USD). All these factors have been major reasons behind the constant fall in the price of the liquid gold.
• In Hyderabad, the price of petrol for the first week of March 2020 closed at the rate of Rs.75.47 per litre on 7th March. There was a percentage change of –0.98% in the overall performance of the fuel.

March – Week 2 (8 – 14):

• In Hyderabad, petrol prices stood at Rs.75.27 per litre on 8 March. The rates were down by 20 paise when compared to the closing price of the previous week. The sharp decline in the prices was accounted to the biggest daily percentage fall in Brent crude prices on Friday since December 2008.
• Petrol prices continued to slip further in the city as the outbreak of coronavirus and price war between Saudi Arabia and Russia meant that the global crude prices continued to fall.
• The rates closed the week at Rs.73.95 per litre, the lowest recorded price for the month till date. In Hyderabad, the overall performance showed a decline of 2.96% in the prices.

March – Week 3 (15 - 21):

• Petrol price in Hyderabad stood at Rs.74.39 per litre on the 15th of March. Prices kept slumping on the next few days.
• Petrol closed the week at Rs.73.95 per litre. In the international oil market, oil prices fluctuated due to the coronavirus pandemic.
• The overall performance of petrol in Hyderabad was -2.91%, trending downwards.

March – Week 4 (22 - 31):

• Petrol price in Hyderabad stood at Rs.73.95 per litre on the 22nd of March, unchanged from its previous day’s closing price.
• Petrol closed the week at Rs.73.95 per litre after state-run oil marketing companies decided not to lower the price further. In the international oil market, oil prices fluctuated due to the coronavirus pandemic, diminishing the demand of the oil.
• The overall performance of petrol in Hyderabad was -2.96%, trending downwards.

Trend of Petrol Price in Hyderabad for February 2020 (Rates per litre):

February – Week 1 (1 – 7):

• Petrol price in Hyderabad stood at Rs.77.74 per litre on the 1st of February, unchanged from its previous day’s closing price. In the international oil market, there’s been a squeeze on oil demand owing to China’s fast spreading coronavirus.
• The state-run oil marketing companies decided to cut petrol rates further. Petrol closed the week at Rs.77.20 per litre.
• The overall performance of petrol in Hyderabad was -0.69%, trending downwards.

February – Week 2 (8 - 14):

• Petrol price in Hyderabad stood at Rs.76.96 per litre on the 8th of February, trending a bit lower compared to its previous day’s closing price.
• In the next few days, the state-run oil marketing companies decided to cut petrol rates further. Petrol closed the week at Rs.76.41 per litre, its lowest recorded price for the month.
• The overall performance of petrol in Hyderabad was -1.71%, trending downwards.

February – Week 3 (15 - 21):

• In Hyderabad, petrol prices stood at Rs.76.41 per litre on 15 February. There was no change in the prices when compared to the previous week’s closing price.
• After staying constant for a couple of days, the rates of diesel dropped by 5 paise in the city on 18 February. This was the only time when the prices saw any change over the week.
• Petrol prices closed the penultimate week of February at Rs.76.36 per litre in Hyderabad. This was the lowest recorded price for the month till date in the city with the overall performance witnessing a decline of 1.77%.

February – Week 4 (22 - 29):

• Petrol price in Hyderabad stood at Rs.76.36 per litre on the 22nd of February, unchanged from the previous day’s closing price.
• Petrol prices increased a bit for the next couple of days before dropping back to Rs.76.36 per litre, its lowest recorded price for the month of February.
• The overall performance of petrol in Hyderabad was -1.80%, trending downwards.

Trend of Petrol Price in Hyderabad for January 2020 (Rates per litre):

January – Week 1 (1 – 7):

• The petrol price in Hyderabad opened at the rate of Rs.79.85 per litre on 1st January 2020. The fuel closed at the same rate on the previous day, i.e. the 31st of December 2019.
• The price of the fuel inclined from the 2nd day of the week owing to the heated-up situation in the Middle East. One of the major reasons behind the hike in the price of the fuel was the threating statement made by the US President of imposing curbs on Iraq. This led to a hike of over 2% in the price of Brent crude oil in the international market.
• In Hyderabad, the price of petrol came to a close at the rate of Rs.80.61 per litre at the end of the first week of January 2020. This was also the highest recorded rate of the fuel during the week. There was an incline of 0.95% in the overall performance of the fuel during the week.

January – Week 2 (8-14):

• In Hyderabad, petrol prices stood at Rs.80.51 per litre on 8 January. Compared to the previous week’s closing price, the rates witnessed a drop of 10 paise per litre.
• The rates climbed over the next three days and touched the highest price for the month till date on 11 January with every litre costing Rs.80.80. The spike in the prices was accounted to the turmoil in global oil markets as a result of the standoff between Iran and the United States.
• Petrol closed the second week of January at Rs.80.47 per litre in the city as the rates slipped towards the end of the week. The overall performance of the fuel was 0.77%, trending upwards.

January – Week 3 (15-21):

• Petrol price in Hyderabad opened at Rs.80.47 per litre on the 15th on January, unchanged from the previous day’s closing price. However, prices dropped on the following days.
• Petrol stood at Rs.79.82 per litre on the 19th of January, marking a gradual drop from its opening day’s price.
• Petrol dropped further, closing the week at Rs.79.54 per litre as the state-run oil marketing companies decided to slash rates, thereby marking its lowest recorded price for the month of January 2020. Overall performance of petrol in Hyderabad was –0.38%, trending downwards.

January – Week 4 (22-28):

• Petrol price stood at Rs.79.54 per litre on 22 January in the city of Hyderabad. Compared to the previous week’s closing price, the rates of the fuel didn’t see any change.
• With concerns growing that demand for global oil will take a hit due to the impact of coronavirus on the Chinese economy, the rates slipped over the week. Petrol prices declined by Rs.1.30 per litre since the start of the week.
• The rates of petrol closed the fourth week of January at Rs.78.24 per litre, which was lowest for the month till date. The overall performance of petrol was -2.01%, trending downwards.

January – Week 5 (29-31):

• Petrol price in Hyderabad stood at Rs.78.24 per litre on the 29th of January, unchanged from its previous day’s closing price. Prices fluctuated in the international market owing to coronavirus and its effect on the Chinese economy.
• Petrol closed the month at Rs.77.89 per litre, its lowest recorded price for the month of January.
• The overall performance of petrol in Hyderabad was -2.45%, trending downwards.

Dynamic Fuel Pricing Meaning:

State-run oil firms consider the 14-days average price of the global crude oil prices as well as the rupee’s exchange rate against the U.S. dollar under the Dynamic Fuel Pricing mechanism since oil prices are dynamic in nature. This is the reason why petrol prices in Hyderabad fluctuate daily. Under this mechanism, oil companies can offset any losses and pass on any benefits to the consumer.

The reason behind the move to revise fuel prices daily was aimed to pass on the benefit, even the smallest of the change to the customer as well as to dealers. Under the previous method, there were instances of sharp incline or decline in fuel prices, burdening consumers alike.

With the new pricing, oil companies can shield themselves from sudden leaps in fuel prices which is needed to be brought into effect at the end of a fortnight.

Components Affecting the Petrol Price in Hyderabad

The primary factors which affect the petrol price in Hyderabad are the global crude oil price and the rupee’s exchange rate against the U.S. dollar. However, there are other components which determine the retail price of petrol in a city. These include freight charges, entry tax, refinery charges, oil companies’ margin and logistics. Apart from these operational costs, the Centre levies excise duty, while the respective state government charges the local sales tax or Value Added Tax (VAT).

These charges are usually constant and are not dynamic like the crude oil price or the rupee-dollar exchange rate. Let’s review the reasons why crude oil prices fluctuate.

• Crude Oil Supply and Demand: Presently, the demand for crude oil in the international market is steady; however, it does fluctuate due to several factors. The Organisation of Petroleum Exporting Countries (OPEC) are the biggest suppliers of crude oil in the market, thereby influencing oil prices. Policies of the OPEC are influenced by any geopolitical developments, hence, any pressure on any of the member countries is bound to limit the supply, which leads to a rise in the prices of crude oil and vice versa.
• Geopolitical Events: Geopolitics plays an important role in determining the oil price in the market. Tensions in oil-producing or oil-exporting countries often lead to a rise in oil prices, impacted by the shortage in supply. Also, events such as war, natural disasters, and political upheaval influence the rise in oil rates.
• Future Supply of Oil and Inventories: The biggest oil-producing nations reserve crude oil to keep their economies healthy in case the oil prices incline due to several reasons. These countries stock up their inventories and then spread the supply across the economy to keep oil prices stable.

Petrol Price Calculation in Hyderabad

Know how the petrol price in Hyderabad is calculated by State-owned oil companies. Prices shown here are as of 3 January 2019.

Petrol Price in Hyderabad Compared to other Metro Cities

The VAT levied on the sale of petrol in Hyderabad is the highest among other states. While petrol attracts VAT of 35.20%, other major metro cities such as Delhi charges 27%, in Mumbai, the VAT on petrol is 26%, while in Chennai it’s 34%.

Petrol Price Vs. Diesel Price in Hyderabad

The basic cost of crude oil is similar for both petrol and diesel, however, taxes on petrol is higher compared to diesel. In Hyderabad, petrol attracts VAT of 35.20%, while diesel attracts 27%, making the former costlier.

Why Petrol is not under GST?

A new taxation system known as the Goods and Service Tax (GST) was introduced in India from 16 July 2017. However, five petroleum products such as petrol, diesel, natural gas, crude oil, and Aviation Turbine Fuel (ATF) were exempted from the GST. This is because, both the Centre and states were not in favour of GST levied on the sale of petrol and diesel. By bringing petrol and diesel under the GST, the Centre could lose up to Rs.20,000 crore as revenue generated through excise duty, while the states wanted to keep their revenue pool intact for any contingency.

Also, the total tax incidence of excise duty and VAT is about 45-50% on petrol, while diesel attracts about 35-40%. Under the GST, the highest tax incidence is 28%, thereby reducing the revenue generated by both the Central government and states. The GST is a charged as a percentage on the ex-factory price of the commodity which could have a huge impact on the final selling price whenever the refinery price is hiked amid the rise in crude oil prices in the international market and it could be true vice versa as well.

If petrol is brought under the ambit of the GST, the final price we pay towards the purchase of petrol will certainly decline, benefiting consumers the most. That said, we need to see if there will be a different tax structure for petroleum products as they are a huge source of revenue for both the Centre and states.

State Taxes and Petrol Price in Hyderabad

State and central government taxes form about 50% of the selling price of petrol in Hyderabad. While the state government of Telangana levies a value added tax (VAT) of 35.20% on a litre of petrol, the central government’s excise duty is Rs. 19.48/Lt of petrol.

The VAT levied by the state government is highest among the other states in India and is the second highest among the south Indian states.

It was reported that the non-abolishment of entry tax, which is 8% of VAT, by the Telangana government is the reason for high tax rate in the state. As per the new goods and services tax (GST) act, all taxes including the entry tax need to be abolished. However, the state government is still collecting entry tax as part of VAT and preventing people from enjoying the reduced tax benefits.

How Often Petrol Prices are Revised in Hyderabad?

With the introduction of dynamic fuel pricing or daily revision of prices, petrol prices in Hyderabad are revised on a daily basis with effect from 16 June 2017.

Before dynamic pricing, petrol prices in the city were revised on a fortnightly basis, i.e., on 1st and 16th of every month. But now with the daily price revision in place, Hyderabadis, along with people from other cities, have to pay a different price every day for petrol.

The updated petrol price will be displayed at the petrol pumps within the city. As per the new regulations, all the petrol pumps need to update the revised petrol price by 6 a.m. every morning. While automated petrol stations, which are centrally connected, will have an auto update of petrol price in Hyderabad, the non-automated stations have to do it manually, by fetching the same from the oil company’s websites.

Customers can download the mobile apps of respective oil companies such as the state-owned Indian Oil, Hindustan Petroleum, Bharat Petroleum and privately-held Shell and Essar to find the daily revised petrol price.

For dealer/fuel station-specific price, customers can SMS the dealer’s code, which is again displayed at the petrol pump, to a specific number as allotted by the oil companies.

Effect of GST on Hyderabad Petrol Price

As we all are aware, the Indian government has implemented a new tax system to charge all the goods and services in the country. Popularly known as GST, the goods and services tax is an indirect tax levied on the supply of goods and services in the country.

GST successfully replaced all state and central taxes levied at cascading stages on a product/service. Since its inception, many of us are curious about how GST affects petrol price in Hyderabad. If you are one among them, here is the eye-opener.

The effect of GST on petrol price is currently nil, as petrol along with other petroleum products, are not taxed under GST. They still have the old tax model, which includes state levied value added tax (VAT) and centre levied excise duty.

This is the reason why petrol prices remained least affected, even after GST became effective from July 2017.

However, experts opine that bringing petrol under GST would significantly bring its price down as the combined state and central taxes on petrol are more than the highest tax rate levied under GST.

Petrol versus Diesel Rate in Hyderabad

Petrol price in Hyderabad, just like in other cities, is higher than the diesel price. Though both petrol and diesel are extracted from the same crude oil, the price difference is mainly due to the difference in the taxes levied on each product, the difference in the international crude oil price and to some extent the difference in dealer’s margin.

While the central excise tax levied on petrol is Rs. 19.48/Lt, it is Rs.15.33/Lt on diesel. Similarly, there is a difference in the value added tax (VAT) levied by the state government. The VAT on petrol in Telangana state is 35.20%, whereas it is only 27% on diesel.

The difference in tax is what makes petrol dearer than diesel. Other factors that make a marginal difference in the price of petrol and diesel are the dealer’s margin, oil company’s profits, cost of marketing, transport and other charges.

Also Check Petrol Price in NearBy Cities of Hyderabad

*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.