• Petrol Price In India Today

    Petrol Price In Indian Cities
    City Petrol ( / liter)
    AGRA ₹ 73.13
    AHMEDABAD ₹ 71.03
    ALIGARH ₹ 73.32
    ALLAHABAD ₹ 73.37
    AMBALA ₹ 71.73
    AMRAVATI ₹ 80.62
    AURANGABAD ₹ 77.49
    BANGALORE ₹ 72.71
    BAREILLY ₹ 73.43
    BELGAUM ₹ 72.75
    BHOPAL ₹ 77.36
    BHUBANESHWAR ₹ 70.45
    CHANDIGARH ₹ 68.85
    CHENNAI ₹ 74.23
    COIMBATORE ₹ 74.58
    CUTTACK ₹ 70.62
    DEHRADUN ₹ 73.94
    DELHI ₹ 71.59
    DINDIGUL ₹ 75.05
    ERODE ₹ 74.64
    FARIDABAD ₹ 72.37
    GHAZIABAD ₹ 73.38
    GULBARGA ₹ 72.69
    GUNTUR ₹ 77.56
    GURGAON ₹ 72.13
    GUWAHATI ₹ 73.57
    HYDERABAD ₹ 75.81
    INDORE ₹ 77.41
    JABALPUR ₹ 77.46
    JAIPUR ₹ 74.53
    JALGAON ₹ 80.36
    JAMMU ₹ 73.44
    JAMNAGAR ₹ 70.96
    JAMSHEDPUR ₹ 72.59
    JODHPUR ₹ 74.42
    KAKINADA ₹ 77.71
    KANNUR ₹ 74.45
    KANPUR ₹ 73.22
    KARNAL ₹ 71.76
    KARUR ₹ 74.57
    KOLHAPUR ₹ 79.69
    KOLKATA ₹ 74.34
    KOTA ₹ 74.14
    KOZHIKODE ₹ 74.49
    KURNOOL ₹ 77.77
    LUCKNOW ₹ 73.44
    LUDHIANA ₹ 76.9
    MADURAI ₹ 74.83
    MALAPPURAM ₹ 74.76
    MANGALORE ₹ 72.11
    MEERUT ₹ 73.21
    MUMBAI ₹ 79.47
    MYSORE ₹ 72.43
    NAGERCOIL ₹ 75.05
    NAGPUR ₹ 79.4
    NANDED ₹ 80.9
    NASIK ₹ 79.82
    NELLORE ₹ 77.8
    NOIDA ₹ 73.48
    PATNA ₹ 76.72
    PONDICHERRY ₹ 70.48
    PUNE ₹ 79.32
    RAIPUR ₹ 72.08
    RAJKOT ₹ 70.89
    RANCHI ₹ 72.65
    RATLAM ₹ 77.33
    SALEM ₹ 74.93
    SANGLI ₹ 79.44
    SHIMLA ₹ 71.76
    SHIMOGA ₹ 73.29
    SOLAPUR ₹ 80.01
    SRINAGAR ₹ 76.04
    SURAT ₹ 70.96
    THANE ₹ 79.55
    THANJAVUR ₹ 74.88
    THIRUVANANTHAPURAM ₹ 75.46
    THRISSUR ₹ 74.66
    TIRUCHIRAPALLI ₹ 74.7
    TIRUNELVELI ₹ 74.58
    UDAIPUR ₹ 75.02
    UDUPI ₹ 72.3
    VADODARA ₹ 70.73
    VARANASI ₹ 73.52
    VELLORE ₹ 75.27
    VISAKHAPATNAM ₹ 76.71
    WARANGAL ₹ 75.45

    Introduction to Fuel Pricing in India

    Petrol is an essential commodity in our day-to-day life. We use it mainly for the purpose of transportation. The price, which is charged at petrol pumps, is the retail price of petrol for consumers. Have you ever questioned yourself that how petrol rates in India are computed? Which are the influencers of the cost of petrol? Whether or not petrol has been covered under the regime of GST? These are very important questions from the stance of petrol users someone like you. Let’s get into the discussion.

    Daily Revision of Petrol and Diesel Prices in India (Dynamic Fuel Pricing)

    How are petrol and diesel prices in India determined today? We have a new fuel pricing mechanism in place called dynamic fuel pricing, which is also called daily revision of fuel rates. The new pricing system was introduced in India on 16th June 2017 after conducting a long 40-day trial in five cities - Chandigarh, Udaipur, Jamshedpur, Puducherry, Vishakhapatnam.

    Under this system, fuel rates are revised on a daily basis considering global crude oil rates and the rate of currency conversion. The system is in practice across 58,000 petrol bunks in India. The system brings transparency and addresses complexities involved in the previous fortnightly-based revision. It lets fuel users pay market-determined prices despite the impact.

    Petrol and diesel rates are revised at 06:00 a.m. every day.

    There are two categories of petrol bunks:

    1. Automated, which automatically modify rates with no human intervention and
    2. Non-automated, which manually revise. Only 20% out of 58,000 petrol bunks are automated and the rest are non-automated. The revised rates shall be displayed at bunks for the public.

    How to Check Petrol Prices in India every day?

    State-owned oil marketing entities account for at least 90% of retail fuel stations in India. Renowned oil brands such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL), and Indian Oil have strategically designed a few initiatives that help consumers spot the latest rates.

    Here is How You Can Track Petrol Prices Regularly:

    Options HP BPCL Indian Oil
    SMS service Type: HPPRICE DEALER CODE and send it to 9222201122 Type: RSP DEALER CODE and send it to 9223112222 Type: RSP DEALER CODE and send it to 9224992249
    Online Service Visit www.hindustanpetroleum.com and then go to “Pump Locator” Visit www.bharatpetroleum.in and then go to “Pump Locator” Visit www.iocl.com and then go to “Pump Locator”

    Mobile app You can also download Bankbazaar App and check the prices instantly on your smartphone. Google Play

    Trends in Petrol Prices in Delhi over the Last five Months

    Trends in New Delhi Petrol Prices April-August'17

    Between April and August 2017, the highest petrol price in Delhi was Rs. 69.15 on 4th August 2017 and the lowest price was Rs.62.13 for the same period. Interestingly, for the month of April, we can see neither a decreasing trend nor an upward trend. For May and June, petrol rates in the city have slashed by 4.20% and 6.02% respectively. For July and August, rates have accelerated by 3.33% and 5.42% respectively. Between April and August, prices have raised by 4.75%. The current petrol rate in Delhi, i.e., as on 30th September 2017 is Rs.70.66.

    New Delhi, the capital city of India, has witnessed an 8% price hike in petrol since the implementation of dynamic fuel pricing. The retail selling price, the final price, of petrol in the city has boosted to Rs.70.41 from Rs.65.23 as on 17th June 2017. The upsurge can be accredited to a 14% hike in overseas petrol and a 40% up in dealer’s commission, i.e., from Rs.2.55 to Rs.3.57 per litre.

    Trends in Petrol Prices in Mumbai over the last five months

    Between April and August, the lowest petrol price in Mumbai was Rs. Rs.73.03 on 14th July 2017 and the highest price for the same period was Rs.78.28 on the closing date of August. For August and July, petrol rates have increased by 4.75% and 0.38% respectively. For May and June, rates have decayed by 3.65% and 5.27% respectively. As we can see, rates for the month of April, have remained unchanged. In a nutshell, the cost of petrol in Mumbai over the last five months has gone up by 7.51%. Petrol rate today, i.e., on 30th September 2017 in the city is Rs.79.77.

    Trends in Petrol Prices in Bangalore over the last five months

    Trends in New Delhi Petrol Prices April-August'17

    Petrol prices in Bangalore for the month of August have raised by 5.47% and for the month of July by 3.33%. Prices have fallen by 5.89% and 4.22% for June and May respectively. For the month of April, rates have neither increased nor decreased. Between April and August, petrol was priced highest at Rs.72.83 on the opening day of May. The lowest rate for the entire period was Rs. 64.21 on 2nd July 2017. As we can see from the graph, there has been a downward trend in petrol prices in Bangalore since May. Petrol rate today, i.e., on 30th September 2017 in the city is Rs.71.77 a litre.

    Impact of GST on Oil and Natural Gas Industry

    The Goods and Services Tax (GST) is a unified indirect tax platform that was implemented in July 2017.As on today, the oil and natural gas industry has been kept outside the GST regime. What would have been the impact on the industry if GST was imposed?

    The cost of compliance would have doubled as the industry had to comply with the present and GST tax structures. The implementation of GST would have resulted in non-creditable tax, which means the participants of the industry had to pay GST upon the purchase of plant and machinery. They would not have been able to obtain credit on saleable products. Moreover, upstream corporations would have been adversely affected by a hike in the tax rate from 15% to 18%.

    With respect to the segment of gas utilities, gas marketers would have faced complexities since they had to remit GST on transmission rates. GST excludes five petroleum derivatives - natural gas, high-speed diesel, crude oil, motor spirit and aviation turbine fuel while it covers other commodities such as kerosene, LPG, fuel oil, naphtha.

    GST Impact on Petrol Prices in India

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

    Fuel cost (after freight, margin of OMCs, refining expenses) Rs.27.51 a litre
    The center’s excise duty Rs.21.48 a litre
    Pump dealer’s commission Rs.2.5 a litre
    Gross rate before Value Added Tax Rs.51.48 a litre
    27% VAT on gross price (Delhi) Rs.13.9 a litre
    Pollution cess at 25p Rs.0.25 a litre
    Retail price of petrol (RSP) Rs.65.63 a litre

    32% of the retail price of petrol goes to the central government and 21.5% to the state. The central government gets Rs.21.48 and the state Rs. 14.15 if the RSP is 65.63. This is the current scenario.

    What is the impact of GST on petrol prices in India? Let’s take an example of the capital city, Delhi.

    A litre of petrol costs Rs.70.56 in Delhi as on 28th September 2017. It will fall to Rs.30.85 a litre when we take out Rs.21.48 paid as the excise duty a litre, the state government’s 27% VAT, Rs.3.24 remitted as commission to dealers. If GST is imposed on petrol, how much do we pay?

    Here goes the calculation:

    · In case 12% GST on petrol, a litre of petrol costs Rs.38.10.

    · In case 18% GST on petrol, the cost of petrol per litre is Rs.40.05.

    · In case 28% GST, which is the highest rate fixed till date, the cost in the city is Rs. 43.44 per litre.

    Petrol prices in India would have cheaper for consumers, but the revenue source for both the governments would have been adversely affected. Let’s wait till the next turn.

    Industry Stakeholders

    It is important to understand the participants of the oil and natural gas industry to understand how petrol prices in India are determined. They include:

    • Oil production and exploration corporations: These corporations are liable for producing oil in its crude form. The major participants of this segment include Crain India, Reliance Industries, Oil and Natural Gas Corporation (ONGC), Oil India. Only 25% of the country’s oil requirements is met through these companies and the rest through importing.
    • Oil Marketing Corporations: Oil marketing companies, also called refineries, manage everything from the stage of crude oil till the delivery of saleable fuel to dealers. This segment consists both public and private sector companies such as Reliance Industries, Essar, Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Private Corporate.
    • Dealers: Owners of petrol bunks are called dealers who can be individuals or business entities. They sell petrol to end customers after adding their margins and local taxes.

    Components of Petrol Prices in India

    A litre of petrol in the national capital costs you Rs.70.56 at the moment. The central excise duty is Rs.21.48 a litre as on today? Why are we paying so much then? How is the RSP computed? The computation of RSP is based a few considerations, which are:

    1.Cost of crude oil plus cost and freight charges

    The cost of crude oil is the biggest component of the RSP. Oil manufacturing companies pay crude oil prices in addition to the cost and freight charges to buy oil from overseas companies. India is one among the biggest importers of crude oil.

    2.Refinery transfer price (RTP)

    Refinery transfer price is the cost incurred by OMCs to convert crude oil into refined petrol. In other words, RTP is a fee charged by refineries to OMCs to convert oil into refined petrol.

    3.OMCs profit margin

    OMCs retain the possession of oil until it is refined and then they sell refined petrol to local dealers after adding a profit margin.

    4.Central and state taxes

    Tax on petrol is imposed by the state and the central. The central excise duty is the same across the nation while the component of VAT varies within states.

    5. Dealer commission

    Local dealers or petrol bunk owners sell petrol to end customers after adding their commission per litre of petrol. Dealer commission may slightly vary.

    All the aforementioned components get added to the final price. The variable components of petrol prices in India are transportation costs and the state VAT.

    Breakup of Petrol Prices in India

    The INR has strengthened against the USD recently. The crude oil price floats around $48 at present. The cost of one barrel, which is equivalent to 159 litres, is Rs.3210 that means a litre of oil costs you Rs.20.19. Crude oil prices are also marked to market dynamics. With this information, let’s now take a closer glimpse at the breakup of petrol prices in India as on 24th August 2017.

    Petrol rate
    The cost of crude oil with freight Rs.3,210 a barrel of 159 litres
    The cost of crude a litre Rs.20.19
    OMC cost computation
    Refinery and processing expenses Rs.6.03 a litre
    Freight, transportation, OMC margin Rs.3.31 a litre
    Fuel cost after refining Rs.29.53 a litre (52% of RSP)
    The central excise duty on petrol Rs.21.48 a litre (25% of RSP)
    Dealer price before VAT Rs.51.01 a litre
    Dealer retail price computation
    Dealer commission Rs.3.23 a litre (2% of RSP)
    VAT 27% plus 25p pollution cess Rs.14.64 a litre (17% of RSP)
    Retail selling price of petrol in Delhi Rs.68.88 a litre

    This is how the retail selling price of petrol is computed in India.

    VAT on Petrol Prices in India

    The following table gives you an idea about effective rates of VAT imposed on petrol by Indian states as on 1st September 2017. The data has been released by Petrol Planning and Analysis Cell (PPAC).

    State VAT on petrol State VAT on petrol
    Andhra Pradesh 38.82 Arunachal Pradesh 20.00
    Chhattisgarh 28.88 Bihar 26.00
    Assam 32.66 Goa 17.00
    Delhi 27.00 Himachal Pradesh 27.00
    Haryana 26.25 Puducherry 21.15
    Jharkhand 31.07 Gujarat 28.96
    Madhya Pradesh 38.79 Jammu & Kashmir 29.53
    Manipur 25.00 Maharashtra 47.64
    Kerala 34.06 Karnataka 30.00
    Mizoram 20.00 Nagaland 24.68
    Rajasthan 32.91 Punjab 36.04
    Sikkim 30.88 Tamil Nadu 34.00
    Odisha 26.00 Meghalaya 22.44
    Telangana 35.20 Uttarakhand 32.51
    Uttar Pradesh 32.45 West Bengal 26.85
    Also Know: Diesel Price In India

    Factors Impacting Petrol Prices in India

    The cost of petrol in India is impacted by the following factors:

    1. Crude oil prices

    The pricing of crude oil is often what impacts petrol rates the most. Crude oil, also called unrefined oil, is an international commodity. The market for which is dynamic in nature. The most common influencers of the cost of oil include:

    • Demand and supply: The law of demand applies even for petrol prices, which increase when there is an increased demand for oil and decrease if there is a decreased demand.
    • Future supplies and reserves: An inadequate amount of oil reserves increases the oil cost that in turn impacts fuel rates.
    • Political events: Crude oil pricing is affected by wars, natural calamities, new government regulations.
    • Demand from leading economies: The oil price boosts when there is a larger demand from leading economies of the world.

    2. Taxes

    As discussed earlier, petrol is taxed by centrally and by the state. Petrol prices in India will change in proportion to changes in the central excise duty and the state VAT.

    3. Refinery Consumption Ratio

    This is a very important consideration. Crude oil when imported by OMCs is sent to refineries for further processing. A lower refinery consumption ratio leads to a lower quantity of refined petrol for sale and, thus increases the cost of petrol.

    4. Currency Conversion Rate

    The USD is the base currency to buy raw oil. If the USD strengthens against the INR, the buying cost of oil shall go up; when it weakens, the cost will be declined. Ups and downs in oil impact the buying cost of petrol as a result.

    Determinants of Bunk Prices

    1. Seasonal condition

    Seasonal conditions in oil producing countries have a direct impact on extracting raw oil. Oil manufacturing companies cannot have the same productivity throughout all seasons. A drop in productivity gives a boost to the buying cost of raw oil at global markets, thereby affects petrol prices at bunks.

    2. Weather reports

    Weather reports differ from seasonal conditions. Crude oil once purchased by OMCs is transported to refineries. When bad weather reports interrupt transportation activities, we are left with an inadequate quantum of refined petrol for consumption.

    3.Restricted refining capabilities

    There exists a dearth of refined petrol when refineries limit their refining capabilities due to high running expenses. So, usable oil is short in supply, leading to a price hike at bunks.

    4.Devaluation of USD

    As we know, crude oil is traded in US dollars. Oil manufacturing companies tend to tweak prices if the USD weakens against the major currencies of the world.

    LPG, Domestic LPG, CNG, Kerosene

    • Liquified Petroleum Gas (LPG) is a composition of commercial propane and commercial butane. It can be extremely dangerous. The way it is utilised, shifted, and bottled should be paid extreme importance. LPG, under moderate pressures, can be readily liquified.
    • Domestic LPG is a composition of hydrocarbons that are vaporous at usual temperature. Hydrocarbons can be stockpiled in cylinders and liquified at temperate pressure. Domestic LPG is a gas with no colors and not dangerous. The gas connection at homes should be done with utmost care.
    • Compressed natural gas (CNG), a fuel, can be utilised in lieu of propone, gasoline, diesel fuel. CNG ignition foodstuffs lesser detrimental gases than other fuels. In the event of a spill, it is harmless compared to other fuels. It can be discovered above oil repositories.
    • Kerosene, also called paraffin, is a combustible liquid and utilised as a fuel for power, heat, light. It is usually a multipurpose fuel and can be used effectively, carefully in order to get incredible results. Kerosene is famous among people for cost-effectiveness.

    *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.

    Also check Today's Petrol Price in the most popular Indian cities

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    News About Petrol Price In India Google Play

    • Petrol Prices fell further in prime cities of India

      The petrol price fell further in top cities of the country, including 4 metro cities on Thursday. Indian oil companies reported a fall of 15-16 paise in the price of petrol per litre in Chennai, Delhi Mumbai and Kolkata on Thursday. As per the information furnished on the website of Indian Oil Company, on 15 February 2018, petrol prices in Chennai, Delhi, Kolkata and Mumbai were Rs.75.49 per litre, Rs.72.79 per litre, Rs.65.98 per litre and Rs.67.43 per litre respectively.

      Since the second week of February 2018, petrol prices are reported to have lessened by 58-63 paise per litre. Since 1 January 2018 till 15 February 2018, the fuel prices hiked by Rs.2.77 per litre in the city of Kolkata, Rs.2.96 per litre in the city of Chennai and Rs.2.79 per litre in the city of Mumbai. The petrol rate for any given day will effect from 06:00 a.m. and shall be reviewed under the daily price revision system.

      15 February 2018

    • The recent cuts in the excise duty do not affect the Diesel Prices in the country

      The Union Budget was recently declared on 1 February 2018 by Arun Jaitley, who is the present Finance Minister. The kea areas of the budget were the development of the rural economy and infrastructure facilities and the social health. The budget has no impact on fuel prices even though it delivered a few radical changes. As anticipated, the Union Budget 2018-2019 proposed to dampen the central levy by Rs.2 a litre and the further cess by Rs.6 a litre.

      It was also proposed to levy a road cess of Rs.8 a litre. So, despite these radical changes, the diesel prices continued to retail at the same prices. Interestingly, on 2 February 2018, the diesel prices in the five Indian metro towns were seen unchanged. As per the Indian Oil Company, which is one of the three oil marketing companies (OMCs) in India, the diesel rates produced a rise of Rs.4.47 per litre compared to the Friday’s price. On Thursday, the day on which the Union Budget was presented, diesel rates Rs.68.27 a litre in Mumbai, Rs.67.62 a litre in Chennai and Rs.64.11 a litre in Delhi.

      5 February 2018

    • Central Taxes to cut in the Imminent Budget

      Petrol prices are on the rise. They climbed to Rs.72.38 per litre in New Delhi and this is the maximum rate since the current BJP-led government came into action. So, oil ministry seeks to decay central taxes. Since 2014, in the national capital, the petrol price hiked to Rs.72.38 a litre as per the official data announced by all state-run oil marketing companies. Petrol rates observed a rise of Rs.3.31 a litre since the middle of December last year. However, the next Union Budget proposes to cut central taxes on petrol.

      Center levies were earlier reduced to Rs.19.48 a litre on petrol and the present state VAT on petrol in Delhi is Rs.15.39 a litre. The growing prices of US West Texas Intermediate Crude and Brent, which are the two most transacted yardstick, have given a rise to petrol prices recently. Brent Crude Oil was sold at Rs.69.41 a barrel whereas the price of US West Texas Intermediate Crude Oil was $63.99 a barrel. At $64.89 a barrel, WTI Crude Oil breached its maximum rate since the last year 2014. So far, the current BJP-led NDA government revised the central excise duty on petrol prices 9 times.

      24 January 2018

    • Petrol Rates in India Climb since Overseas Market Tightens

      Oil marketing companies are instantly transmitting the variations in crude oil prices and the INR/USD exchange rate. This has given a rise to institutional auto fuel rates. On 17 January 2018, all OMCs increased the petrol price by 9 paise per litre in metros. After the daily revision, the petrol price was Rs.71.27 per litre in the national capital. The hike in international crude oil rates necessitated the rise in fuel rates.

      On Monday, Brent crude oil traded at $70.37 per barrel on 16 January 2018. In April 2017, the price of the Indian crude basket increased from $52.49 to $62 per barrel to $62 per barrel in the month of December 2017. This has witnessed a hike of 18%. Since early December, the throughout limit by oil producers increased by 15%. Robust fundamentals drove this rally.

      18 January 2018

    • Diesel Rates Increased Whereas Petrol Rates Unchanged for the Fourth Day

      Diesel Rates increased by 7-8 paise per litre in four metro cities on Thursday. According to Indian Oil Companies, diesel rates were at Rs.59.89 per litre in Delhi, Rs.62.55 per litre in Kolkata, Rs.63.59 per litre in Mumbai and Rs.63.1 per litre in Chennai respectively. Since the last day of calendar year 2017, diesel rates have been increased by 6-8 paise. On Thursday, diesel rates were up by 25 paise a litre in Delhi, the capital city of India, 27 paise litre in Chennai, the capital city of Tamil Nadu and 32 paise per litre Mumbai, the capital city of Maharashtra. Oil marketing companies, including Indian Oil, Bharat Petroleum and Hindustan Petroleum, revise fuel prices based on the exchange rate and overseas crude oil prices. The new system was implemented in June last year.

      5 January 2018

    • Why Oil Marketing Companies (OMCs) Lack Fuel Recently?

      Arun Jaitley, Union Finance Minister, said “The government may soon include both diesel and petrol under the GST purview. The government was interested to include these two fuels and other allied petroleum derivatives under the purview of the newly introduced GST system. In fact, it was awaiting the response from state governments. Before four days, Sushil Modi, who is the Finance Minister and GST Council Member, said “Petroleum should be included under the GST.”

      The Union Finance Minister further said “The constitution amendment has considered diesel, petrol and allied products under the GST purview, but the final decision shall be taken by the GST Council. There is no need to implement any law if petroleum products are to be considered under the GST system.” Sushil Modi further said “real estate, stamp duty and petroleum products must be included under the GST system. The Council can consolidate 18% and 12% tax slabs and reduce the highest tax slab from 28% to 25%.

      20 December 2017

    • Why Oil Marketing Companies (OMCs) Lack Fuel Recently?

      Crude oil rates were the highest in the last 30 months on Tuesday. Stocks of oil marketing companies (OMCs) – Indian Oil, Hindustan Petroleum and Indian Oil – reacted by reducing 2.2-4% when the benchmark Sensex shed 0.7%. The rates of Brent crude oil have jumped 17% so far since the Central Government diminished the excise duty on diesel and petrol. At Delhi, the retail rates of petrol and diesel jumped at a slower pace of 2.5% and 1% respectively.

      Over this period, the exchange rate of the INR against the USD rate has not moved dramatically. Marketing margins on petrol and diesel have reduced from Rs.3.10 per litre to Rs.1 per litre in the second quarter of the current financial year 2018 according to the analysts from Kotak Institutional Equities in a note on December 06. According to Ritesh Gupta, Ambit Capital Private Limited, this would create an impression that oil marketing companies are still administered by the government.

      13 December 2017

    • The Government is Planning to Blend Methanol in Petrol to Diminish Rates and Pollution

      Nitin Gadkari, Union Minister, said “The Central Government shall soon unveil a policy that calls for 15% blending methanol in petrol in order to make it inexpensive for the public and reduce pollution. Methanol is made out of coal. The cost of methanol per litre is Rs.22 as against the current rate of Rs.80 per litre for petrol. The industrial units in and across Mumbai, the capital city of Maharashtra, including Deepak Fertilisers and Rashtriya Chemicals and Fertilisers can produce methanol.” The Union Minister further said “Ethanol must be utilised more extensively.”

      12 December 2017

    • GST Rates on Diesel and Petrol Engines Challenged in the Delhi High Court

      The Goods and Services Tax (GST), a uniformed tax system in India, has been levied on all types of goods and services at four GST rates: 05%, 12%, 18% and 28%. The new tax regime was introduced in the country in the month of July 2017. It was suggested that the GST rate shall be the same for both petrol and diesel engines. The recommended rate was 28%, the highest GST rate. In a meeting held on 11 June 2017, the GST Council diminished the tax rate on diesel engines from 28% to 12%. But, the GST rate on petrol engines remains unchanged. This discrimination has been challenged in the Delhi High Court.

      7 December 2017

    • An Inflation Data Reveals Stable Fall in General Prices

      Arun Jaitly, Finance Minister, says “Inflation data reveals a steady fall in general prices.” The Finance Minister tweeted providing a comparative data on inflation during the Narendra Modi government and the UPA rule. The issue of price hike has been raised by the opposition party. The Finance Minister replies saying “Let the data on inflation speaks for itself.” In November, Narendra Modi, Prime Minister, was questioned by the Congress, the opposition party, for creating economic chaos. The opposition party had asked the Modi’s government to take preemptive actions.

      6 December 2017

    Petrol Price In Metro Cities
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    Petrol Price In Other Major Cities
    Petrol Price In States
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