Petrol Price In Kakinada Today

  • Today's Petrol Price ( 13 Oct 2019 )
    ₹ 77.88
    Current Petrol Price Per Litre
    Compare Petrol Price in Kakinada (Today & Yesterday)
    Today
    (13 Oct 2019)
    Yesterday
    (12 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 77.88 ₹ 77.88 ₹ 0 ↑
    Petrol Price in Kakinada - Last 10 Days Data
    Date Petrol ( / litre)
    13 Oct 2019 ₹ 77.88
    12 Oct 2019 ₹ 77.88
    11 Oct 2019 ₹ 77.98
    10 Oct 2019 ₹ 78.1
    09 Oct 2019 ₹ 78.15
    08 Oct 2019 ₹ 78.15
    07 Oct 2019 ₹ 78.33
    06 Oct 2019 ₹ 78.62
    05 Oct 2019 ₹ 78.62
    04 Oct 2019 ₹ 78.92

    Petrol Rate Trend

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    Petrol Price in Kakinada

    Kakinada, a notable town in Andhra Pradesh, has a better network of petrol retail stations. 98% of fuel stations are run by publicly-owned oil marketing brands such as HPCL, BPCL and OIL. The prices offered by these three companies will almost the same. A minute price variation may be observed within the city. This could be due to dealer commission. During the first week of March 2018, on an average, the petrol rate in Kakinada was Rs.78.50 per litre. Excise duty, a major component of petrol prices, has been revised in the Union Budget 2018-2019 to Rs.19.48 a litre, including road cess. Value-added Tax (VAT), a state-level tax, will change from state to state. It was revised at 38.93% as of 4 September 2017.

    Analysis of Petrol Price in Kakinada

    Petrol is priced differently by oil marketing enterprises regularly. At 06:00 a.m., a new price is offered to petrol buyers in Kakinada. Price changes mainly because of two reasons: 1) variations in the exchange rate and 2) crude oil price. Over the last 5-6 months, fuel rates have witnessed a growing trend owing to dynamic fuel pricing. In January 2018, the opening price was Rs.76.12 and the closing price was Rs.79.06 a litre. The highest price was at Rs.79.06 a litre on 30 January and the lowest price was at Rs.76.12 a litre on 01 January.

    February 2018 was a crucial month for fuel consumers who had anticipated that petrol rates in Kakinada will be lowered. On 1 February 2018, Finance Minister presented the Union Budget 2018-2019 to the country. In the budget, it was proposed to dampen excise duty by Rs.2 a litre and extra taxes by Rs.6 a litre. To offset these changes, a road cess of Rs.8 a litre was proposed in the budget. Eventually, petrol prices in Kakinada were retained unaffected. During the month, the lowest price was at Rs.77.61 a litre on 28 February and the highest price was at Rs.79.53 a litre. The opening and the closing prices were Rs.79.53 and Rs.77.61 respectively.

    Why have Petrol Prices Increased?

    The petrol rate in Kakinada has increased by 10% over the last one year since crude oil prices have gone up in overseas markets. They have now reached to $65 a barrel. One barrel is equal to 159 litres. Fuel suppliers have increased their commission to Rs.3.59 a litre. The central tax was cut twice between October 2017 and February 2018. Except Maharashtra, Uttar Pradesh and Goa, no other Indian states decreased VAT on petrol, including Andhra Pradesh. These are a few reasons that made petrol prices to jump their 4-year highs in the city of Kakinada.

    Dynamic Fuel Pricing vs Fuel Prices in Kakinada

    Dynamic fuel pricing is a fuel revision methodology India has adopted last year. Prior to that, it was tested in four Indian cities. It gives numerous benefits to fuel users, oil marketing businesses, fuel dealers and governing bodies. India has introduced to assure that fuel pricing is free from political influences. It is not only India, even Japan, the USA, Australia and Russia will follow this methodology. June 2017 onwards, dynamic fuel pricing has been in place in Kakinada. According to which, Bharat Petroleum, Indian Oil and Hindustan Petroleum have been offering new fuel prices to end customers in the city. Fuel prices in Kakinada will change daily in line with the exchange rate of the INR against the USD and overseas crude oil rates. If the exchange rate falls today, it will be reflected quickly in tomorrow’s price.

    Features of Dynamic Fuel Pricing

    Each entity should manage working capital efficiently. A business entity can be highly liquid if it can manage its working capital effectively. The net difference between highly liquid assets and current liabilities is called working capital. One of the best features of dynamic fuel pricing is that it helps OMCs to effectively monitor their capital. This way OMCs can ensure liquidity throughout the year. Cash outflows and inflows will not be disturbed. The expenses, which are spent to run day-to-day business activities, can also be reduced. Both fuel users and the Indian retail industry will be aligned to global market dynamics.

    Trace Today’s Petrol Price in Kakinada

    Which methods are you presently following to trace today’s petrol price in Kakinada? Is it offline or online? Of course, fuel consumers can trace the latest petrol rate in Kakinada through mobile applications and SMS requests. There are three mobile applications presently in use. All have different features. Using mobile applications, fuel customers not only obtain the current petrol price in Kakinada but also get offers related to general insurance. Most commonly used mobile applications include SmartDrive, My HPCL and Fuet@IOC. Smartphone users can download any of these mobile applications for free.

    Breakup of Petrol Price in Kakinada

    Firstly, we need to take into account crude oil rates, which are quoted in foreign markets. The crude oil per barrel as of March 2018 was $65. The value of the USD against the INR was Rs.65. A litre of crude oil costs Rs.26.57, which is 65X65/159.

    Secondly, we have to consider OMC costs. The Refinery Transfer Price (RTP), the overheads spent to run day-to-day operations and import levies are estimated to be Rs.4.75 a litre. On the other hand, freight expenses, transportations overheads and the profit margin of oil marketing companies are estimated to be Rs.3.31 a litre.

    Thirdly, the central tax is taken into consideration. As of November 2014, excise duty on petrol was Rs.9.20 a litre and accelerated to Rs.21.48 a litre in August 2017. It was further reduced to Rs.19.48 a litre in February 2018.

    Fourthly, the commission charged by dealers is added. It has recently been raised to Rs.3.51 per litre. The dealer’s commission slightly varies from city to city.

    Finally, all the aforesaid cost elements are added to offer the Retail Selling Price (RSP) of petrol to petrol users in Kakinada.

    Factors Affecting Petrol Price in Kakinada

    Petrol prices in Kakinada are impacted by several factors. The common factors include the exchange rate, which is quoted by the RBI, crude oil rates and the central and state governments’ practices related to taxes. If the state government of Andhra Pradesh reduces the local tax on petrol, oil marketing enterprises will reduce the RSP of petrol and vice versa. If the Central Government reduces the central tax, oil marketing enterprises have no other alternatives. They will reduce the RSP to avoid losses. Similarly, the petrol rate will fall domestically if crude oil rates increase overseas and vice versa.

    GST vs Petrol Price in Kakinada

    The current petrol price in Kakinada is not impacted by GST, a new system for imposing taxes on services and commodities. Petrol is a major commodity and earns revenues to the central and states. The implementation of GST will bring down the revenue. Therefore, it is not covered under the GST purview presently. Imposing GST on petrol is a good idea according to specialists, but the GST Council has to take the final call by considering the views of the Indian Prime Minister.

    Also Check Petrol Price in NearBy Cities of Kakinada

    *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 Kakinada

    • Oil Minister Seeks Saudi Arabia to Play a Pivotal Role in Easing Oil Prices

      Oil Minister Dharmendra Pradhan asked world’s largest oil exporter Saudi Arabia to play a pivotal role in easing crude oil prices in the international market. Crude oil prices have been in the incline since early January amid US sanctions on Iran and Venezuela as well as the trade war between the US and China. OPEC cut supplies to keep the price stable. Mr Pradhan raised the issue about the increasing trend in global crude oil rates and the need for uninterrupted supplies of crude oil and LPG to India even as OPEC has cut supplies in the international market. Both the countries decided to take concrete measures for early implementation of the decisions taken in the oil and gas sector. In the last one month, petrol and diesel prices have risen by more than Rs.2 per litre amid the supply cuts and geopolitical tensions. Fuel prices are indicative of the rise and fall of crude oil prices in the global markets.

      12 March 2019

    • Petrol Prices Fall Below Rs.72 per litre Mark

      Petrol price declined below Rs.71 per litre mark on Wednesday for the first time since April as consecutive reductions have wiped off the price hikes witnessed earlier this year. In Delhi, the petrol price stands at Rs.73.57 per litre, down by 50 paise according to the data issued by state-run oil companies. Diesel price was cut by 50 paise to Rs.68.89 per litre. With today’s cut, petrol prices have come down by Rs.9.26 per litre and diesel by Rs.7.20 per litre. Petrol prices had touched record highs early October when a litre was sold at Rs.84 per litre in Delhi and Rs.91.34 in Mumbai on 4 October. Diesel on that day was sold at Rs.75.45 per litre in Delhi and Rs.80.10 in Mumbai. Today petrol is being sold at Rs.79.12 per litre in Mumbai and diesel at Rs.71.71 per litre. Prices touched record highs after the global crude oil price rose to touch $80 per barrel, a four-year high; however, it’s now trading around $60 per barrel which has prompted fuel prices to decline.

      30 November 2018

    • Petrol Prices Slashed in Delhi and Mumbai for 9th day in a row

      Oil-marketing companies have cut petrol prices again in Delhi and Mumbai. The price of petrol has been slashed for the 9th consecutive day as a result of lower crude oil prices. The price of 1 litre petrol in Delhi now is Rs.80.85 while that in Mumbai is Rs.86.33. At the same time, petrol prices in other metro cities like Kolkata and Chennai are Rs.82.71 and 84.02 respectively. The fuel prices have been soaring since early August due to unprecedented increase in the crude oil prices, according to the oil marketing companies. The petrol price was first slashed in early October by Rs.2.50 per litre. The fuel is getting more expensive in Delhi than Haryana and Uttar Pradesh because the government is not ready to reduce VAT on fuel both petrol and diesel. In the last 8 days, petrol prices saw a significant reduction of Rs.1.72 in Chennai, Rs.1.73 in Delhi, Rs.1.70 in Kolkata, and Rs.1.71 in Mumbai.

      29 October 2018

    • Rising Fuel Prices Brings Petro-Tourism Into the Fray

      Fuel prices have been rising in India for the last three weeks or so. Most of the rise has been due to the freefall of the Indian rupee and the rising crude oil prices. According to reports, various people located in the region bordering Nepal have started on something called petro-tourism, wherein they cross the border, get over to Nepal, have their tanks filled and return to India

      This has become a trend in the bordering regions in Uttar Pradesh, Uttarakhand, and Bihar, which are close to Nepal. There are other too, who have been filling their vehicles and carrying more illegally for the sake of sales or to save another trip. While in India, petrol prices are in the Rs.80 per litre range, in Nepal, prices are as much as Rs.14 lower than in India. This is the major reason why more and more people are resorting to Petro-tourism, reports say.

      The report further stated that as many as 2500 vehicles crosses the border to Nepal with the Nepalese authorities finding little reason to complain. It is being said that Nepalese fuel pumps have been seeing increased business and hence are quite happy with the trend that has risen in the recent weeks. While petrol in Motihari, a bordering area close to Nepal, petrol and diesel were at Rs.88 and Rs.79 respectively last week, and the same was at Rs.70 and Rs.61 in Nepal, which caused people to get to the other side of the border.

      24 September 2018

    • Rising Fuel Prices Brings Petro-Tourism Into the Fray

      Fuel prices have been rising in India for the last three weeks or so. Most of the rise has been due to the freefall of the Indian rupee and the rising crude oil prices. According to reports, various people located in the region bordering Nepal have started on something called petro-tourism, wherein they cross the border, get over to Nepal, have their tanks filled and return to India

      This has become a trend in the bordering regions in Uttar Pradesh, Uttarakhand, and Bihar, which are close to Nepal. There are other too, who have been filling their vehicles and carrying more illegally for the sake of sales or to save another trip. While in India, petrol prices are in the Rs.80 per litre range, in Nepal, prices are as much as Rs.14 lower than in India. This is the major reason why more and more people are resorting to Petro-tourism, reports say.

      The report further stated that as many as 2500 vehicles crosses the border to Nepal with the Nepalese authorities finding little reason to complain. It is being said that Nepalese fuel pumps have been seeing increased business and hence are quite happy with the trend that has risen in the recent weeks. While petrol in Motihari, a bordering area close to Nepal, petrol and diesel were at Rs.88 and Rs.79 respectively last week, and the same was at Rs.70 and Rs.61 in Nepal, which caused people to get to the other side of the border.

      24 September 2018

    • Fuel Rates to Increase Since the INR Diminishes to a Record-low

      According to official sources, the crude oil import bill in India increased by $26 billion in the year 2018-2019 as the Indian currency falling to a record low made purchasing of crude oil from international markets expensive. On Thursday, 16 August 2018, the INR dropped to its record-low of 70.32 to a US dollar. This will result in a rise in the retail selling price of diesel, petrol and cooking gas. In the year 2017-2018, India incurred $87.7 billion for importing 220.43 million tonne of unrefined oil. For the year 2018-2019, the imports are fastened at 227 million tonne. An official said “At the commencement of the fiscal year, we estimated the crude oil import bill shall be $108 billion at an exchange rate of Rs.65 a dollar and average price of unrefined oil of $65 per barrel.” The Indian currency is one of the worst performing currencies in Asia, reporting an 8.6% fall this year.

      17 August 2018

    • Implementation of GST may Ease Growing Fuel Prices – says Dharmendra Pradhan

      Petrol has touched a price mark of Rs.85.29 per litre in Mumbai. In Delhi, the fuel has reached a record high of Rs.77.47 per litre. Diesel has been priced at Rs.68.53 per litre and Rs.72.96 per litre in Delhi and Mumbai respectively. Dharendra Pradhan is of the opinion to include the products of petroleum under the system of the recently announced GST to decrease fuel rates. Nitin Gadkari, Union Minister, on Wednesday, said ‘’The imposition of GST on petrol will reduce the income source of the Central Government. This is an economic situation, which cannot be avoided. The situation is directly connected to the worldwide economy.

      25 May 2018

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