Petrol Price In Jamnagar Today

  • Today's Petrol Price ( 30 Nov 2021 )

    ₹ 95.06
    Current Petrol Price Per Litre

    Compare Petrol Price in Jamnagar (Today & Yesterday)

    Rate Change
    Petrol ( / litre) ₹ 95.06 ₹ 95.06 ₹ 0 ↑

    Petrol Price in Jamnagar - Last 10 Days Data

    Date Petrol ( / litre)
    29 Nov 2021 ₹ 95.06
    28 Nov 2021 ₹ 95.06
    27 Nov 2021 ₹ 95.06
    26 Nov 2021 ₹ 95.06
    25 Nov 2021 ₹ 95.06
    24 Nov 2021 ₹ 95.06
    23 Nov 2021 ₹ 95.06
    22 Nov 2021 ₹ 95.06
    21 Nov 2021 ₹ 95.06
    20 Nov 2021 ₹ 95.06

    Petrol Rate Trend

    • 7 Days
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    Petrol Price in Jamnagar

    In today’s world, it’s easy to trace petrol prices on a daily basis if you are a fuel consumer from Jamnagar, a notable city in Gujarat. Fuel prices have been on a high since the beginning of 2018. The government is planning to implement either a long-run solution or a short-run solution to cushion the effect of unstoppably growing petrol prices. Reducing excise duty can be a short-term solution. If there is a cut in excise duty today, petrol can still gain its price after some time under dynamic fuel pricing.

    Let’s study the behavior of petrol prices in Jamnagar during the first quarter of 2018. On 1 January 2018, petrol price was Rs.69.22 per litre and enhanced to Rs.72.44 per litre on 31 March 2018. That indicates there has been a price increase of Rs.3.22 per litre. For the entire quarter, the highest fuel price was registered at Rs.72.44 per litre. On the flipside, the lowest price stood at Rs.69.22 per litre. In Jamnagar, petrol rates were up by Rs.3.03 per litre and Rs.1.45 per litre in January 2018 and March 2018 respectively. They were down by Rs.1.52 per litre in February 2018.

    Fuel Dealers in Jamnagar

    Jamnagar is the fifth biggest city in Gujarat. The city has a wide network of HPCL dealers, IOCL dealers and BPCL dealers to suffice the fuel requirements. Petrol is supplied to fuel stations from refinery centers owned by these three fuel companies. Shell Oil, another fuel brand, also has a few supply stations in the city. Despite brands, dealers charge a definite amount of commission, which has recently been hiked by a few paise. With a growing number of fuel consumers, the number of supply stations has been increasing in Jamnagar. Each brand is equally competitive and maintain the same quality throughout the year.

    Pricing of Petrol in Jamnagar

    Petrol is a fuel or a commodity, which is priced like other commodities. Premier fuel companies such as Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited have begun using dynamic fuel pricing to price the fuel. Dynamic fuel pricing is based on the exchange rate, the USD/INR, and crude oil rates in global markets. It has been successful in well-established countries such as Japan, the United States of America (USA), Russia, etc. In India, it came into existence in 2017.

    Salient Features of Dynamic Fuel Pricing

    • The revision of petrol price in Jamnagar will no longer take place twice a month.
    • Instead, petrol is valued every day in tandem with the movements in unrefined oil prices and the exchange rate.
    • There cannot be a big difference as far as fuel prices are concerned.
    • No government can influence the pricing of petrol.

    Options to Trace Today’s Petrol Price in Jamnagar

    • IOCL customers: Indian Oil has a vast number of customers. The company provides several options for its customers to get the current fuel price in Jamnagar. IOCL customers can either use the mobile application offered by IOCL or visit the official website of IOCL or avail the SMS services to obtain the recent offer.
    • BPCL customers: BPCL is also a renowned fuel company in India. Like IOCL, BPCL provides a tailor-made mobile application called ‘SmartDrive.’ The mobile application is extremely beneficial to receive the current petrol rate in Jamnagar.
    • HPCL customers: HPCL customers are recommended to download its mobile application called ‘My HPCL.’ This is the best option for smartphone users. Non-smartphone users may consider using offline methods to get the latest fuel price in Jamnagar.

    Computation of Petrol Price in Jamnagar (May 2018)

    • Crude oil cost per litre = Rs.31
    • OMC expenses per litre = Rs.5.93
    • Excise duty per litre = Rs.19.48
    • Commission charged dealers per litre = Rs.3.62
    • Pollution cess = 25 paise
    • VAT on petrol per litre = 25.44% charged at fuel cost before VAT

    All the aforesaid cost elements are added to arrive at the retail selling price of petrol per litre in the city of Jamnagar.

    Forces Impacting Fuel Rates in Jamnagar

    • Supply and demand: If the demand for crude oil increases in overseas markets, the price of crude oil per barrel will increase and vice versa. Crude oil rates also increase if there is no adequate amount of crude oil. Variations in crude oil costs, in the end, will impact petrol prices in domestic markets.
    • Excise duty and VAT: The Government of India may increase excise duty to increase fuel prices in the country and decrease excise duty to diminish fuel rates. Excise duty is a common tax whereas VAT differs from state to state. VAT can also be revised by states. The higher the VAT on petrol, the higher will be the petrol price and vice versa.
    • Exchange rate: The value of the Indian currency against the greenback is measured through the INR/USD exchange rate. Every day, the Central Bank of India will gauge and release the value of the USD versus the INR. Fuel rates will fall when the INR falls against the base currency and vice versa.
    • Uncertainties: Bad weather is likely to impact the production of crude oil. When the production of unrefined oil gets impacted, the demand for crude oil will increase. Thus, OMCs will increase fuel prices. Production cuts also affect the pricing of unrefined oil.

    Does GST impact Petrol Price in Jamnagar?

    As we know, GST is a common tax platform in India. It does not affect petrol prices since petrol has been outside the purview of GST. Customers pay GST on other commodities and services. The highest GST slab set by the GST Committee is 28%. Even if GST is levied at 28% on petrol, petrol price in Jamnagar will fall down significantly. So, the Central Government may not have adequate funds for welfare activities. The government has to consider two options to levy GST on petrol. It can either increase the GST tax slab or impose additional taxes to compensate losses.

    Also Check Petrol Price in NearBy Cities of Jamnagar

    *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 Jamnagar

    • Petrol Receives Price Cut in Delhi and Mumbai for 9th Day in a Row

      The oil marketing companies have slashed the price for petrol for 9th straight day. The petrol price in Delhi and Mumbai have received a price cut on account of lower global crude oil prices. The price of 1 litre petrol in Delhi at present is Rs.80.85 per litre which in Mumbai, it is available for Rs 86.33 per litre. At the same time, petrol prices in other metros like Kolkata and Chennai have also received a cut. In Kolkata, 1 litre petrol now costs Rs.82.71 while in Chennai it can be availed at Rs.84.02. On October 4, the government slashed petrol price by a minimum Rs.2.50 of which Rs.1.50 per litre was a cut in excise duty while Rs.1 was by state-owned oil marketing companies. A number of states like Haryana, Gujarat, Rajasthan, Maharashtra and Uttar Pradesh slashed petrol price following the request from the central government. However, the national capital did not cut VAT on fuel, owing to which a total of 400 petrol pumps were shut across Delhi.

      29 October 2018

    • MD of Castrol India says, we see a growth in conventional vehicles

      A volatile second quarter has been seen by Castrol India, a producer of lubricants, based oil rates and additives are on a rising trend because of continually growing crude oil prices and a falling INR. Base oil and additives are used for producing lubricants. Omer Dormen, Managing Director at Castrol India, said that we have increased the price our products in July for the second time and our company will not rule out a hike in prices in the future.

      He further said “During the first quarter of the current fiscal year, the price of base oil accelerated by $100 per tonne. Crude oil prices are likely to increase triggered by global pressures and as a result, the price of base oil is impacted. As far the pricing of base oil and additives, the second quarter is going to be highly volatile for us. As the INR weakened by Rs.4-5 against the USD, the import of base oil is also impacted. The logistics and packaging expenses further increase the overall expenses. Even though we have increased our product prices in July, we are planning to increase gross profit in lieu of soaring the gross unit margin.”

      29 August 2018

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