Petrol Price In Kota Today

  • Today's Petrol Price ( 13 Oct 2019 )
    ₹ 76.76
    Current Petrol Price Per Litre
    Compare Petrol Price in Kota (Today & Yesterday)
    Today
    (13 Oct 2019)
    Yesterday
    (12 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.76 ₹ 76.76 ₹ 0 ↑
    Petrol Price in Kota - Last 10 Days Data
    Date Petrol ( / litre)
    13 Oct 2019 ₹ 76.76
    12 Oct 2019 ₹ 76.76
    11 Oct 2019 ₹ 76.86
    10 Oct 2019 ₹ 76.98
    09 Oct 2019 ₹ 77.03
    08 Oct 2019 ₹ 77.03
    07 Oct 2019 ₹ 77.21
    06 Oct 2019 ₹ 77.49
    05 Oct 2019 ₹ 77.49
    04 Oct 2019 ₹ 77.79

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    Petrol Price in Kota

    Kota is located in the Indian state of Rajasthan. With a close proximity to the National Capital Region, Kota is well connected by road, rail as well as by air. Within the city, the Rajasthan Roadways offer bus services to commute. Additionally, unmetered taxis and auto rickshaws offer public transportation to commuters.

    Petrol prices in Kota are revised on a daily basis similar to other cities in the country. The daily revision of petrol prices is known as the ‘Dynamic Fuel Pricing’ mechanism. Under this mechanism, State-owned oil marketing companies update petrol prices based on the global crude oil rate and the currency exchange value of the preceding day.

    There are several factors which influence the petrol price in Kota. These factors are considered before oil companies arrive at the Retail Selling Price (RSP) of petrol in a city. Oil companies including Indian Oil, Bharat Petroleum and Hindustan Petroleum operate more than 90% of fuel stations across the country and fix fuel prices at different cities. Let’s analyse each of these factors which influence the change in petrol prices, understand the computation of the petrol price in Kota and methods to track the current petrol price in Kota.

    Factors Which Influence the Petrol Price in Kota

    India purchases more than 70% of crude or unrefined oil from oil-producing countries which are then refined and supplied across the country by Oil Marketing Companies (OMCs). Since most of the crude oil comes from other countries, petrol has become an expensive and essential commodity in India. While the crude oil price and the currency exchange rate are external in nature, internal factors include taxes, profit margin and operational costs of oil companies, operational cost, and commission to dealers.

    • Global Crude Oil Rate: Crude oil is sold in barrels and is supplied by the Organisation of Petroleum Exporting Countries (OPEC). The rate of crude oil is dynamic in nature which is influenced by various elements such as the output of crude oil, shortage in supply, geopolitical fears or higher demand. When crude oil rates increase, the petrol price in Kota and other cities is revised in tandem with the change and vice versa. The global crude oil price is the primary component while pricing petrol in a city.
    • Currency Exchange Rate: Crude oil is typically traded in US dollars, any fluctuations in the dollar value over the Indian rupee affects the cost to purchase oil in the international market. If the US dollar appreciates over rupee, the petrol price increases accordingly and vice versa.
    • Tax on Petrol: The supply of petrol in India attracts two types of taxes. While the Centre levies the excise duty, the respective State imposes a local sales tax or Value Added Tax (VAT). The excise duty is uniform across the country which is currently charged at Rs.19.48 per litre, while the state of Rajasthan charges VAT at 30.87% per litre. Any revision in the tax rate on the supply of fuel impacts the current petrol price in Kota. Taxes form the biggest component in the computation of the petrol price in Kota.
    • Profit Margin & Commission to Dealers: Oil companies purchase and transport crude oil from oil-producing countries which are then refined and sold as petrol in the country. These fuel companies include their profit margin, operational cost and the commission to dealers (fuel station owners) before fixing the final price of petrol in a city. Whenever there’s a revision in these costs, the petrol price in Kota is affected.

    What is Dynamic Fuel Pricing Mechanism?

    As mentioned, fuel prices are revised on a daily basis. Fuel companies include the preceding day’s crude oil rate and the exchange rate of the US dollar to arrive at the final selling price of petrol. Under this method, both oil companies and consumers benefit from any fluctuations in the crude oil rate. If there’s a reduction in the crude oil rate, the benefit is immediately passed on to the customers, likewise, if the rate of crude oil increases, oil companies pass on the increase thereby not incurring losses.

    Prior to the ‘Dynamic Fuel Pricing’ mechanism, fuel companies used to revise fuel prices in Kota every fortnight. The average rate of the preceding fortnight’s crude oil price and the currency exchange value is included in the petrol price. However, under this method oil companies incurred losses as they had to wait a fortnight to pass on any increase in the crude oil price to the customer. Also, consumers could take advantage of any drop in crude oil price as they had to wait a fortnight to benefit from a lower petrol price. Hence, the fortnightly method was stopped and the dynamic fuel pricing mechanism was introduced.

    How to find the Current Petrol Price in Kota?

    Since petrol prices are revised on daily basis, it could be a challenge in tracking the current petrol price in Kota. To find the most recent petrol price in Kota or other cities oil companies have introduced several methods to find the current petrol price.

    • Mobile Apps: With smartphone usage on the rise, oil companies have launched mobile apps to track today’s petrol price in Kota. While Indian Oil has launched the ‘Fuel@IOC’ app, Bharat Petroleum offers services through ‘SmartDrive’ app and Hindustan Petroleum has introduced the ‘MY HPCL’ app to find the latest fuel price in a city.
    • SMS Services: For customers looking to utilise the SMS service, the process below will retrieve the petrol price in a particular city.
      • Bharat Petroleum: SMS RSP Dealer Code to 9223112222.
      • Indian Oil: SMS RSP Dealer Code to 9224992249.
      • Hindustan Petroleum: SMS HPPRICE Dealer Code to 9222201122.
    • Online Portal: Fuel companies update their respective website with the current petrol price in Kota as well as other cities in the country.

    Computation of the Petrol Price in Kota

    Now that we understand the concept of the ‘Dynamic Fuel Pricing’ mechanism and the factors which influence the change, let’s break down each component which fuel companies use to calculate to petrol price in Kota as well as other cities. Below is the petrol price in Kota recorded on 3 June 2018.

    Sl.No. Component Price
    1 Crude Oil Price + Freight Charges $78.30 per barrel = Rs.32.98/Litre (considering $1=66.96 and 1 barrel oil = 159 litres)
    2 Oil Companies’ Profit margin, transportation, refining, and other operational costs Rs.8.10/Ltr
    3 Centre’s Excise Duty + Road Cess Rs.19.48/Ltr
    4 Commission to dealers Rs.2.53/Ltr
    5 State’s Value Added Tax (VAT) + 25p Pollution Cess with surcharge Rs.19.73/Ltr
    Total Retail selling price of petrol in Kota Rs.82.82/Ltr

    Is GST Applicable on Petrol in Kota?

    India moved to a single taxation regime known as the Goods and Service Tax (GST). All goods and services rendered in India attract the GST; however, petroleum products such as petrol and diesel have been exempted from the GST. Petrol and diesel continue to attract the Centre’s excise duty and the State’s VAT. The supply of petrol and diesel bring huge revenue to the government. By bringing petrol under the GST, the revenue would be impacted as the highest tax slab in GST is 28%, which is lower than the current rate of taxes on fuel. Therefore, GST is not applicable to petrol in Kota currently. That said, if petrol is brought under the current system of GST, the cost to purchase petrol will reduce significantly.

    Also Check Petrol Price in NearBy Cities of Kota

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    *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 Kota Today

    • Fuel Prices Cut for the Fifth Consecutive Day

      State-run Oil Marketing Companies (OMCs) slashed petrol and diesel prices for the fifth consecutive day on Monday across major metro cites of the country. Petrol prices were cut by 29 to 30 paise per litre, while diesel prices were slashed by 13 to 14 paise per litre. After the cut, in Delhi petrol is being sold at Rs.71.43 per litre as against yesterday’s price of Rs.71.73 per litre, down by 30 paise, while diesel is being sold at Rs.65.98 per litre, down by 13 paise per litre. In Mumbai, petrol is available at Rs.77.04 per litre, cut by 30 paise as compared to yesterday’s rate, while diesel is being sold at Rs.69.13 per litre, down by 14 paise over Sunday’s price. In Chennai, petrol is being retailed at Rs.74.14 per litre and Rs.69.74 per litre, down by 32 and 14 paise, respectively. In Kolkata, petrol costs Rs.73.50 per litre, down by 29 paise and diesel is available at Rs.67.73 per litre, down by 13 paise. It may be noted that prices of petrol and diesel are lower in Delhi compared to other metro cities and some state capitals due to lower taxes.

      Fuel prices are determined by oil companies based on the daily dynamic fuel pricing mechanism which considers the 15-day average price of crude and the exchange rate of the rupee over the US dollar. On Monday, crude oil prices were mixed amid concerns about the global economic outlook amid a deadlock in the US-China trade talks. International benchmark, Brent crude futures were trading at $70.74 per barrel, down by 11 cents or 0.2% compared to its previous close.

      14 May 2019

    • INR Rebound Back to a 3-month high with Falling Oil Rates

      The domestic currency rebounded back against the dollar will falling crude oil prices and caused the stop-loss in segment of the currency futures. A downfall in crude oil prices helps the Centre to manage the financial deficit and the Monetary Policy Committee of the Central Bank, which is the Reserve Bank of India, to manage the inflation.

      On Thursday, the Indian rupee started at 71.12 per dollar and the day closed at a 3-month high of 70.69. Amid other currencies of Asia, this variation of above one percent had been the shrillest. The Forex (Foreign Exchange) market remained shut the previous day. The index of the dollar declined by 0.21% to 96.51. It evaluates the strength of the dollar over major currencies of the globe. It has also been reported that the return on the indigenous 10-year debentures dropped by 8 points (base points).

      Between 4 October 2018 and 22 November, the price of a litre of petrol has dropped by Rs.8.03 whereas the price of a litre of diesel by Rs.4.48 in Delhi. The monthly average crude oil per barrel for the month of October stood at $80.08. Caused by a steady fall, the cost of unrefined oil per barrel was revised to $62.49. If crude oil rates remain stable at around $65, the deficit of the current account shall downfall by 2.6% of the Gross Domestic Product (GDP) versus the previous estimate of 2.8%.

      27 November 2018

    • Petrol Crosses 84 Rupees Mark in Delhi

      Petrol prices touched Rs.84 per litre mark in Delhi as oil companies increased prices by 15 paise a litre on Thursday. In Mumbai, petrol costs Rs.91.34 per litre following a hike of 14 paise per litre. Diesel prices were hiked as well. In Delhi, diesel is being sold at Rs.75.45 per litre following a hike of 20 paise, while in Mumbai, diesel costs Rs.80.10 a litre after an increase of 21 paise a litre. Fuel prices in other metro cities in the country were hiked as well with a litre of petrol being sold at Rs.85.80 in Kolkata and Rs.87.33 in Chennai. Diesel costs Rs.77.30 per litre in Kolkata, while in Chennai it costs Rs.79.79 a litre. Petrol and diesel rates are on the incline in the backdrop of an increase in the global crude oil prices coupled with the fall in the exchange value of the rupee over the U.S. dollar. The rupee dropped 42 paise to end at a new low of 73.33 against the dollar on 3 October 2018. Fuel prices are fixed by oil companies on the basis of the global crude oil price and the exchange rate of the rupee to arrive at the final selling price of petrol and diesel. Prices are revised on a daily basis under the dynamic fuel pricing mechanism.

      12 October 2018

    • MobiKwik Comes Up with ‘Flash Offer’ on Petrol Prices

      Given the high petrol prices, MobiKwik, a digital financial services platform on Wednesday offered a 50% discount on petrol prices till 9 p.m. As part of the flash offer, users of MobiKwik can use SuperCash to get 50% off on their transaction amount on refilling the fuel tanks of their vehicles at MobiKwik partnered petrol pumps. To avail the offer, MobiKwik users simply needed to scan the QR code at the fuel pump and enter the amount that they needed to pay. The minimum transaction amount to avail the offer was Rs.100. In addition to the offer, MobiKwik also gave its users the opportunity to earn 25% SuperCash on fuel payments that are Rs.50 or more and save 5% of their transaction value by using SuperCash balance. It needs to be mentioned here that the cost of petrol has been on the rise since August 1 for factors like high crude oil prices, falling rupee, and high excise duty rates. As of Wednesday, the prices of petrol in the four metros of the country, i.e., Delhi, Mumbai, Kolkata and Chennai were Rs.82.16, Rs.89.54, Rs.84.01, Rs. 85.41 respectively.

      20 September 2018

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