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  • Petrol Price In Karnataka Today

    Daily Petrol Rates
    Date Petrol ( / liter)
    17 Oct 2018 ₹ 83.54
    16 Oct 2018 ₹ 83.43
    15 Oct 2018 ₹ 83.43
    14 Oct 2018 ₹ 83.43
    13 Oct 2018 ₹ 83.37
    12 Oct 2018 ₹ 83.18
    11 Oct 2018 ₹ 83.06
    10 Oct 2018 ₹ 82.96
    09 Oct 2018 ₹ 82.96
    08 Oct 2018 ₹ 82.73

    Petrol Price In Karnataka

    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.

    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.

    Quarterly Petrol Price Trend in Karnataka Between April and June 2018

      April May June
    Opening date price Rs.74.90 per litre Rs.75.82 per litre Rs.79.61 per litre
    Closing date price Rs.75.82 per litre Rs.79.67 per litre Rs.76.77 per litre
    Highest price Rs.75.86 per litre recorded on 24th Rs.79.75 per litre recorded on 29th Rs.79.61 per litre recorded on 1st
    Lowest price Rs.74.90 per litre recorded on 1st Rs.75.82 per litre recorded from 1st to 11th Rs.76.77 per litre recorded from 27th to 30th
    Trend Upward Upward Downward
    %Change +1.23% +5.08% -3.57%
    Petrol Price Trend in Karnataka

    Petrol Price Trend in Karnataka in April 2018

    • On the first day of the month, the petrol price in Karnataka stood at Rs.74.90 per litre, the lowest for the month.
    • With crude oil prices slightly moving upwards, petrol prices were revised accordingly with an average rate between Rs.75 to Rs.76.
    • The highest petrol rate in the month was recorded at Rs.75.86 per litre on the 24th.
    • Despite an increase in petrol prices, the incline trend did not indicate a significant rise in fuel prices in the country.
    • Overall, the month indicated an upward trajectory in petrol prices in the State by 1.23% due to the rise in oil prices in the international market.

    Petrol Price Trend in Karnataka in May 2018

    • Oil companies kept the petrol price unchanged since the 24th of the previous month due to the 2018 Karnataka Assembly Elections scheduled to be held on the 11th.
    • After a 19-day hiatus, fuel companies began revising petrol prices under the daily pricing mechanism.
    • Oil companies follow the ‘Dynamic Fuel Pricing’ mechanism to compute fuel prices in India. The preceding day’s global crude oil rate and the currency exchange value are considered before selling petrol at its Retail Selling Price (RSP).
    • Petrol prices increased sharply during the second and third week as the crude oil rate increased to record at $80 per barrel.
    • Fuel prices reached a new record of Rs.79.75 per litre as the global crude oil continued to move upwards.
    • On the closing day, the petrol price in Karnataka stood at Rs.79.67 per litre – a slight fall from its peak rate.

    Petrol Price Trend in Karnataka in June 2018

    • Fuel companies sold petrol at Rs.79.61 per litre on the opening day of the month, down by 6 paise compared to the previous the day.
    • With fuel prices on the rise around the globe, the Organisation of Petroleum Exporting Countries and its ally Russia decided to meet on 22 June 2018 to discuss ways to the rising oil prices.
    • Crude oil prices continued to fall marginally and the petrol price was revised accordingly.
    • Over the course of the month, the highest petrol price in Karnataka stood at Rs.79.61 per on the opening day of the month.
    • The OPEC and Russia decided to increase the crude or unrefined oil output to the address the concern of higher fuel prices across the world.
    • By the end of the petrol price in Karnataka fell to lowest of Rs.76.77 per litre, which was kept unchanged from the 27th to the end of the month.

    Trend in Petrol Price in Karnataka between January 2018 and March 2018

      January February March
    Opening date price Rs.71.06 per litre Rs.74.20 per litre Rs.72.69 per litre
    Closing date price Rs.74.07 per litre Rs.72.63 per litre Rs.74.71 per litre
    Highest price Rs.74.07 per litre recorded on 30 Rs.74.54 per litre recorded on 6 Rs.74.71 per litre recorded on 31
    Lowest price Rs.71.06 per litre recorded on 1 Rs.72.62 per litre recorded on 23 Rs.72.69 per litre recorded on 1
    Trend Growing Decreasing Growing
    % Deviation 4.06% (Up) 2.16% (Down) 2.70% (Up)
    Petrol Price Trend in Karnataka

    Trend in Petrol Rate in Karnataka in January 2018

    • Petrol was valued at Rs.71.06 per litre in Bangalore, the capital city of Karnataka and Rs. 71.17 per litre in Belgaum on 1. Almost the same price was observed in other prime cities, including Mysore and Hubli.
    • The fuel continued gaining its rate under the dynamic fuel pricing mechanism that takes into account the changes in the INR/USD exchange rate and crude oil costs internationally.
    • Within the first fifteen days, the fuel entities declared a rise of 1.73% in the petrol price in major cities since the Indian Crude Oil Basket gained its price substantially.
    • Bangalore, Belgaum, Hubli and Mysore have recurrently augmented the fuel price until the last day of the month because of the stabilized demand, interrupted production and supply of unrefined oil.
    • As a result, on 21, the last day of the week 3, the price offer of petrol accelerated to Rs.73.21 a litre and Rs.73.92 per litre on 28.
    • Indian Oil Company, BPCL and HPCL unveiled the highest petrol price at Rs.74.07 per litre on 30 and extended the same rate on 31 as well.
    • January produced a 4.06% increase in the fuel price as a result of almost a 5-rupee up in the crude oil rate, but not due to domestic factors.

    Trend in Petrol Price in Karnataka in February 2018

    • Unlike the previous month, February depicted a mixed reaction in the petrol price influenced by irregularities in crude oil costs. In Bangalore, the fuel rate as on the opening date was Rs.74.20 a litre.
    • Even though the Union Budget was unveiled on 1 for the fiscal year 2018-2019, the OMCs neither reported a price drop nor a price up.
    • The upward trend was extended until 06 and the highest rate was booked at Rs.74.54 per litre in Karnataka within the first week.
    • 7 onwards, all the three OMCs have begun deteriorating the price offer in tandem with the variations in the global parameters.
    • However, the fuel lost its price by almost a rupee per litre at the end of the week 2 impacted by a gained dollar.
    • BPCL, HPCL and Indian Oil further depreciated the petrol rate to Rs.72.84 a litre on 21 and elongated the downward trend until 28, the last day.
    • An aggregated price of WTI and Brent Crude Oil soared by 5.53% this month and thus, the petrol rate depreciated by 2.16%. The domestic influencers such as the Value-added Tax and the excise duty were retained unchanged during this month.

    Trend in Petrol Price in Karnataka in March 2018

    • The average fuel price stood at Rs.72.60 a litre and the lowest price was booked at Rs.72.69 a litre on 1 at HPCL and BPCL.
    • Between 7 and 15, the fuel rate has increased to Rs.73.59 a litre at a growth rate of 0.08% as the USD/INR conversion rate decreased slightly.
    • On 21, 22, 23, 24, 25, 26 and 27, the petrol price was Rs.73.33 a litre, Rs.73.40 a litre, Rs.73.44 a litre, Rs.73.52 a litre, Rs.73.69 a litre, Rs.73.94 a litre and Rs.74.05 a litre correspondingly.
    • Over the last three months, the cost of crude oil has been depreciated to $63.80 per barrel. Domestic factors were not changed.
    • Therefore, the closing price and the highest price for the month was Rs.74.71 a litre and the overall price has been hiked by 2.70%.

    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.

    News About Petrol Price In Karnataka

    • Petrol Prices Stagnant, Price of Diesel Keeps Rising

      The price of fuel has been constantly rising as seen on Monday morning with an increase of 8 paise and 9 paise in the metros. While Mumbai and Chennai recorded an increase of 9 paise per litre, Delhi and Kolkata saw an increase of 8%.

      The opposition constantly blames the Government for the increase in prices of fuel, and the Government in turn pushes the blame towards the global prices of crude and other international factors.

      Amidst this, the prices of diesel is Rs.75.46 in Delhi and Rs.77.31 in Kolkata, while in Mumbai and in Chennai, diesel is priced at Rs.79.11 and Rs.79.80 respectively.

      Apart from diesel, petroleum is at a stagnant price of Rs.82.72 per litre since Sunday. In Mumbai, the price of petrol was a whopping Rs.88.18 per litre and Rs.79.71 in Chennai, whereas in Kolkata, petrol is priced at Rs.84.54 per litre.

      16 October 2018

    • Petrol Prices hit Rs.90.22 per litre in Mumbai, Sparks Outrage

      Fuel prices have been on the rise for over the past month now and on the 25th of September, they hit Rs.90.22 per litre in Mumbai, the highest in the country. Fuel prices are also the entire in Maharashtra, and compared to other states, iit is a good Rs.1 or Rs.2 higher. The reason for the high rates is the higher Value Added Tax (VAT) on fuel, as opposed to all the other states.

      From the 1st of September, petrol prices have gone up by Rs.4.13 per litre in Mumbai, and the rising crude prices are adding more to the woes of the common people, as there is not end to fuel price hikes.

      The consistent depreciation of the Indian rupee is also adding to the rising cost of fuel. US Brent has seen its price per barrel rise up to $81 dollar, and it will increase in the coming days once the sanctions on Iran takes effect in November.

      1 October 2018

    • Petrol Prices in Bihar 2nd highest Across Country

      People residing in Patna are spending Rs.88.38 for purchasing every litre of petrol as of Wednesday. In Muzaffarpur, Rs.88.90 was required to be paid which is the highest petroleum prices in the state. Experts state that the prices of petrol in Bihar are among the highest in the country. In metro cities like Mumbai and Chennai, petrol is currently being sold for Rs.89.63 and Rs.85.43 respectively. It needs to be mentioned that Bihar government charges a VAT of 26% on petrol with an additional surcharge of 20% on it. Given this reason, Prabhat Kumar Sinha the president of Bihar Petroleum Dealers Association stated that the rise in the petrol prices can only be controlled with the intervention of the central and state governments. He added that Bihar government can take the cue from what states like Rajasthan, West Bengal etc and reduce the VAT on fuel and provide relief to the consumers. On Monday, Karnataka government had cut petrol prices by Rs.2 per litre after the governments in Rajasthan, West Bengal, and Andhra Pradesh reduced the VAT on petrol by Rs.2.5, Rs.1 and Rs.2 for every litre.

      21 September 2018

    • Oil Prices Falls in the US, Strong US Dollar, Weak Market to Blame

      Oil prices in the US fell for the third straight session as the US dollar remained strong and equity markets were on the weaker side.

      The US West Texas Intermediate (WTI) saw crude futures fall by 2 cents to hit $67.75 per barrel with the week’s drop being recorded at 3.5% while that of Brent dropped by 1.5%.

      Phil Flynn, analyst at Price Future Group spoke about this and said that the market was juiced up from the tropical storm and that all the fall over the week was due to this weakness.

      The US jobs data, which also showed signs of poor growth, had an impact on the the falling crude prices in the US. Sanctions imposed on one of the largest exporter of crude oil, Iran, has also had an impact on how barrel’s are currently being priced.

      11 September 2018

    • Petrol Prices hiked by Oil Marketing Companies (OMCs)

      State-run marketing Companies (OMCs) hiked the petrol prices in the country on Friday after oil prices fell globally on the back of concerns regarding escalating trade disputes between United States of America and China. Asian stock markets also fell as the world’s two biggest economies threatened over tariffs on each other’s products amid heightened global trade tensions between the countries. Prices were raised by a considerable margin in the four metros of the country viz Delhi, Mumbai, Kolkata, and Chennai. In the national capital, prices were increased by 7 paise while in Mumbai, Kolkata, and Chennai, the hike recorded were 7, 9 and 8 paise respectively. With the hike, every litre of petrol cost Rs.77.13 in Delhi, Rs.84.57 in Mumbai, Rs.80.19 in Kolkata, and Rs.80.13 in Chennai. It needs to be mentioned that the petrol prices were the lowest in Delhi among all the metro cities given lower sales tax or Value-Added-Tax (VAT). Oil Companies in the country revise the prices of both petrol and diesel on a daily basis as part of the dynamic fuel pricing scheme.

      14 August 2018

    • Crude Oil Rates Lowered by the Inventory Build

      It was reported by the American Petroleum Institute that the unrefined oil build of the United States unrefined oil stock for the week completing on July 2018 stood at 5.59 million barrels. The analysts had expected that it will see a draw in unrefined oil stock of 2.794 million barrels. A draw of 3.16 million barrels of unrefined oil was reported by the American Petroleum Institute last week. On Tuesday, crude oil rates were retailing down ominously before the disclosure of the API information on stocks. According to a survey made by Thomson on Monday depicted that the oil production of the OPEC touched a 2018 high in the month of July. With the Brent benchmark retailing up $1 a barrel last week, the WTI standard was retailing nearly flat week over week.

      2 August 2018

    • Petrol and Diesel Prices Reduced Across Metro Cities Today

      Petrol and diesel prices, which are updated on a daily basis, were cut across the country’s metro cities on Monday as per the website of the country’s largest oil retailer, Indian Oil. In New Delhi, petrol prices were reduced for the fifth consecutive day on Monday, while it was cut for the fourth straight day in other metro cities. In New Delhi, the petrol price stands at Rs.76.30 per litre, while in Mumbai, Kolkata and Chennai, it’s being retailed at Rs.83.75, Rs.79.15 and Rs.79.25 respectively. As for diesel prices, in New Delhi, it’s being sold at Rs.67.89, Rs.70.56 in Kolkata, Rs.72.07 in Mumbai and Rs.71.70 in Chennai. After touching an all-time high on 29 May 2018, fuel prices have been mostly cut in the backdrop of the decline in the global crude oil price. Fuel prices are decided on the basis of the global crude oil rate and the currency exchange rate of the US dollar over rupee.

      24 July 2018

    • India Warns the OPEC to Diminish the Price of Crude Oil

      The OPEC has been warned by India to diminish the price of crude oil. The falling demand shall mean a control in the acquisitions from the association of crude. It was suggested by Sanjiv Singh, who is the Chairman of Indian Oil Corporation Limited. “If fuel rates continue to increase at the same speed, the fuel consumers in India have to find alternative solutions such as purchasing fuel-efficient vehicles and electric vehicles.” The demand for crude oil cannot be considered in separation to the prices of crude oil in a market, which is very sensitive to prices. Demand may not be impacted in the short-term. Definitely, we may observe its impact in the long-term.

      13 July 2018

    • Petrol and Diesel Prices Raised for Sixth Straight Day

      Petrol and diesel prices were raised for the sixth consecutive day across four metros on Tuesday. As per Indian Oil’s website, petrol is being sold at Rs.76.53 per litre in Delhi and Chennai, while in Mumbai and Kolkata it’s being sold at Rs.83.91 and Rs.79.20 respective. A litre of diesel is being retailed at Rs.68.23 in Delhi, Rs.72.03 in Chennai, Rs.72.40 in Mumbai and Rs.79.20 in Kolkata. Petrol and diesel prices were increased in the range of 16 to 18 paise per litre owing to the rise in the global crude oil price. The rise in crude oil rates is attributed to a potential shortage in supply of crude oil as hundreds of Norwegian oil workers have threatened to go on strike after wage talks failed, a move which could impact the output. The escalating fears have led to the rise in the global crude oil prices.

      10 July 2018

    • The Options that can be Considered to Bring Petrol Under the GST System

      Till date, petrol is outside the purview of Goods and Services Tax (GST). The common opinion is that bringing petrol under the GST ambit shall reduce the fuel price. M S Mani, Partner at Deloitte India, believes that it might not be as straightforward as we think it to be. He said “Not only petrol, petroleum products are also not taxed under GST. Petroleum products cannot be taxed at the same rate. A few products attract the highest tax rate while other products attract the lowest tax rate. Presently, petrol is taxed by states and the Central Government.”

      He further said “Petrol is taxed differently from the way the Central Government will impose taxes on natural gas and aviation. The tax system in each country is different. For instance, VAT on petrol is the highest in Maharashtra. For the government, bringing petrol under GST is a tough choice. If the GST Council wants to implement GST, it may charge excise duty in a way that matches the current fuel rate. Likewise, products such as ATF and natural gas may be included under the GST structure.”

      4 July 2018

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