Petrol Price In Karnataka Today

Petrol Price In Karnataka

Petrol price in Karnataka today is fixed under the daily ‘Dynamic Fuel Pricing’ method. Here, you can check the current petrol price in Karnataka, find today's petrol price with quarterly price trends in Karnataka. New petrol prices in Karnataka are updated daily at 6:00 am IST by state-run oil companies.

Know how petrol prices in Karnataka are computed and how is it compared to other states. Also, find the current Karnataka petrol price and components affecting petrol prices in India. The below petrol price trend in Karnataka offers details like the highest and lowest petrol prices recorded during a month.

Karnataka is one of the renowned south Indian states. Bangalore, the silicon valley of India, is the capital and largest city of the state with a huge network of IT and Non-IT companies. The state is the seventh biggest by region and eighth biggest by population. The real estate industry has always been booming in the state, attracting domestic and NRI investments.

As on 31st March 2015, In India, the total count of licensed vehicles was 2,10,023,289 out of which the total count of licensed vehicles in Karnataka was 14,784,961. With the growing number of petrol-run and diesel-run vehicles in the state, the petrol and diesel consumption is also growing at an attractive rate.

Trend of Petrol Price in Karnataka for November 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for November 2022

• Petrol prices opened the month of November standing at the rate of Rs.101.92 per litre in Karnataka. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
• The price of the fuel was stable and witnessed no fluctuations during the month of November in Karnataka.
• In Karnataka, the last week of November closed with the price of the fuel standing at the rate of Rs.101.92 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Karnataka.

Trend of Petrol Price in Karnataka for October 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for October 2022

• Petrol prices opened the month of October standing at the rate of Rs.101.92 per litre in Karnataka. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
• The price of the fuel was stable and witnessed no fluctuations during the month of October in Karnataka.
• In Karnataka, the last week of October closed with the price of the fuel standing at the rate of Rs.101.92 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Karnataka.

Trend of Petrol Price in Karnataka for September 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for September 2022

• Petrol prices opened the month of September standing at the rate of Rs.101.92 per litre in Karnataka. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
• The price of the fuel was stable and witnessed no fluctuations during the month of September in Karnataka.
• In Karnataka, the last week of September closed with the price of the fuel standing at the rate of Rs.101.92 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Karnataka.

Trend of Petrol Price in Karnataka for August 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for August 2022

• Petrol prices opened the month of August standing at the rate of Rs.101.92 per litre in Karnataka. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
• The price of the fuel was stable and witnessed no fluctuations during the month of August in Karnataka.
• In Karnataka, the last week of August closed with the price of the fuel standing at the rate of Rs.101.92 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Karnataka.

Trend of Petrol Price in Karnataka for July 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for July 2022

• Petrol prices opened the month of July standing at the rate of Rs.101.92 per litre in Karnataka. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
• The price of the fuel was stable and witnessed no fluctuations during the month of July in Karnataka.
• In Karnataka, the last week of July closed with the price of the fuel standing at the rate of Rs.101.92 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Karnataka.

Trend of Petrol Price in Karnataka for June 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for June 2022

• Petrol prices opened the month of June standing at the rate of Rs.101.92 per litre in Karnataka. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
• The price of the fuel was stable and witnessed no fluctuations during the month of June in Karnataka.
• In Karnataka, the last week of June closed with the price of the fuel standing at the rate of Rs.101.92 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Karnataka.

Trend of Petrol Price in Karnataka for May 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for May 2022

• Petrol price in Karnataka opened the month of May standing at the rate of Rs.111.09 per litre.
• The highest petrol rate was recorded on 1 May wherein a litre of petrol was being traded at the rate of Rs.111.09. The lowest price of petrol was recorded from 22 to 31 May when it stood at the rate of Rs.101.92 per litre.
• In Karnataka, the month of May closed with the price of the fuel standing at the rate of Rs.101.92 per litre. There was an overall declining trend of -8.25% in the performance of petrol price in Karnataka.

Trend of Petrol Price in Karnataka for April 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for April 2022

• Petrol price in Karnataka opened the month of April standing at the rate of Rs.107.28 per litre.
• The highest petrol rate was recorded on 30 April wherein a litre of petrol was being traded at the rate of Rs.111.09. The lowest price of petrol was recorded on 1 April when it stood at the rate of Rs.107.28 per litre.
• In Karnataka, the month of April closed with the price of the fuel standing at the rate of Rs.111.09 per litre. There was an overall inclining trend of 3.58% in the performance of petrol price in Karnataka.

Trend of Petrol Price in Karnataka for March 2022(rates per litre)

Monthly Petrol Price Trend in Karnataka for March 2022

• Petrol price in Karnataka opened the month of March standing at the rate of Rs.100.56 per litre. After being stable for weeks, the fuel price witnessed a hike on 22 March.
• The highest petrol rate was recorded on 31 March wherein a litre of petrol was being traded at the rate of Rs.107.28. The lowest price of petrol was recorded from 1 to 21 March when it stood at the rate of Rs.100.56 per litre.
• In Karnataka, the month of March closed with the price of the fuel standing at the rate of Rs.107.28 per litre. There was an overall inclining trend of 6.68% in the performance of petrol price in Karnataka.

Trend of Petrol Price in Karnataka for February 2022 (rates per litre)

Monthly Petrol Price Trend in Karnataka for February 2022

• In Karnataka, the price of petrol opened the month of February standing at the rate of Rs.100.56 per litre. There were no changes in the price, when compared to the closing price of the fuel of the previous week.
• The price of the liquid gold stood steady in Karnataka during the month. In the month of February, the price of the fuel was unaltered, witnessed no fluctuations, and was trading at the rate of Rs.100.56 per litre.
• The price of the fuel closed the month of February while being traded at the rate of Rs.100.56 per litre. The overall performance of the fuel witnessed a stability during the month of February in Karnataka.

Trend of Petrol Price in Karnataka for January 2022 (rates per litre)

Monthly Petrol Price Trend in Karnataka for January 2022

• Petrol price in Karnataka opened the month of January at Rs.100.56 per litre. Compared to December’s price, there was no change in the price of the fuel when the rate was compared to the previous month’s closing price.
• The price of petrol remained unchanged in the state over the month even international oil rates witnessed fluctuations.
• With oil companies keeping the rates stagnant, petrol’s overall performance in Karnataka was stable.

Also Check Petrol Price in Metro Cities

Trends in Petrol Prices in Karnataka

Petrol rates in Karnataka in the last three years have changed often. The change can be attributed to many reasons. Let’s consider the trend in petrol prices in Bangalore, the capital city of Karnataka, over the last five months. Petrol prices are moving in an upward direction in the capital and other major cities including Belgaum, Mysore, Davangere, Hubli.

The petrol cost per litre in Bangalore has accelerated by 3.33% for July and by 5.47% for August of the current fiscal year. Both May and June 2017 had a decreasing trend. Prices were constant throughout April 2017. The lowest rate recorded since April 2017 is Rs.64.21.

Petrol Prices in Karnataka vs. Other States

It is quite interesting to note that both diesel and petrol rates have slashed soon after the implementation of GST, which is completely a new, streamlined taxation platform. With effect from 1st July 2017, Karnataka is the first south Indian state to offer lower prices for diesel and petrol. Fuel rates have fallen by Rs.3.00 per litre.

As on 1st July 2017, the lowest price for diesel was recorded at Rs.53.65 a litre while in Bangalore it was Rs.54.23 a litre. Interestingly, petrol and diesel rates per litre in other states such as Delhi, Maharashtra, and Uttar Pradesh were comparatively high on the similar date.

How are Petrol Rates in Karnataka Computed?

Petrol is priced based on a few considerations such as the cost of unrefined oil, which is traded in the USD; the refinery transfer price, which is the price paid by oil marketing companies to refineries; the central excise duty, which is fixed across the nation; the state VAT, which is the VAT imposed on petrol by the Karnataka government; and finally the dealer’s commission, which is the commission charged by retail petrol stations. The retail selling price of petrol in Karnataka includes all these cost elements. If any of these elements varies, the RSP will be adjusted accordingly.

How Frequently are Petrol Prices in Karnataka Updated?

Earlier, fuel price revision used to happen on the first and sixteenth of each month. Fuel rates used to be constant at least for a period of fifteen days. Currently, we have a new fuel pricing system called dynamic fuel pricing or daily revision of fuel prices in all cities of Karnataka.

The new system revises fuel prices on a daily basis based on two important factors:

1. crude oil prices and
2. the currency conversion rate. Why?

Indigenous production of crude oil in India is just 25% of the country’ oil requirements and the rest 75% is sufficed through importing. However, variations in crude oil prices and the currency conversion rate should be reflected in the selling price of fuels. The new system is transparent, perfect. Tracking information is easy for consumers as the biggest oil brands such as Indian Oil, HP, BP, and Shell have designed some means to get the latest information. Daily revision of petrol rates is a good proposal for many reasons. Firstly, it enables customers to absorb regular petrol price variations in Karnataka by a little margin. In case of fortnightly-based revision, there used to be big variations.

Impact of GST on Petrol Prices in Karnataka

The Goods and Services Tax (GST) excludes the oil and natural gas industry till now. If it was imposed, the cost of compliance would have increased. The industry participants were required to conform to the current and GST tax regimes. If it was imposed on petrol, the cost of petrol per litre would have come down at least by Rs.15-20.

The highest rate fixed by the GST council till today is 28%. Even if 28% GST tax bracket was imposed on petrol, the revenues for the government would have adversely been affected. A few experts are of the opinion that GST can also be imposed on petrol, diesel, and petroleum products. In fact, the issue was debated in the recent past.

Petrol vs. Diesel Rates in Karnataka

The process of daily revision of fuel prices has already been active in the state since 16th June 2017. Petrol rates in Bangalore and other major cities of Karnataka have reduced since dynamic fuel pricing. As on 6th October 2017, a litre of petrol costs Rs.69.17 while a litre of diesel costs Rs.56.79 in Mysore. A litre of diesel costs Rs.56.95 while a litre of petrol costs Rs.69.34 in Mandya. In Koppal, a litre of petrol costs Rs.70.08 while a litre of diesel costs Rs.57.64.

In Kolar, a litre of petrol costs Rs.69.34 while a litre of diesel costs Rs.56.95. In Haveri, a litre of diesel costs Rs.57.46 while a litre of petrol costs Rs.69.88. A litre of petrol in Belgaum costs Rs.69.49 a litre while a litre of diesel costs Rs.57.12. In Shimoga, a litre of diesel costs Rs.70.07 while a litre of petrol costs Rs.57.58. Entry taxes were banned in the state on 2nd July 2017 and, as a result, diesel and petrol rates were down by Rs.3 per litre.

In a nutshell, Karnataka is one of the south Indian states to charge petrol and diesel quite reasonably. The recent cut in entry taxes is the primary highlight in Karnataka. Diesel and petrol prices are envisioned to be steady over the next few months unless there are major changes in overseas crude oil.

Also Check Petrol Price in NearBy Cities of Karnataka

*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.