Petrol Price In Kozhikode Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 75.48
    Current Petrol Price Per Litre
    Compare Petrol Price in Kozhikode (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 75.48 ₹ 75.48 ₹ 0 ↑
    Petrol Price in Kozhikode - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 75.48
    20 Oct 2019 ₹ 75.48
    19 Oct 2019 ₹ 75.48
    18 Oct 2019 ₹ 75.48
    17 Oct 2019 ₹ 75.48
    16 Oct 2019 ₹ 75.48
    15 Oct 2019 ₹ 75.48
    14 Oct 2019 ₹ 75.53
    13 Oct 2019 ₹ 75.53
    12 Oct 2019 ₹ 75.53

    Petrol Rate Trend

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    Petrol Price in Kozhikode

    Kozhikode, previously known as Calicut, is a vibrant urban city in the State of Kerala. The city has a vast network of roads and a large number of private buses offer transportation services to the public. The State-run buses run regular services to several destinations in the State as well as other prominent cities in the country. Apart from buses, the city is well connected by services of private taxis and auto rickshaws.

    In recent times, the city’s two-wheeler and four-wheeler population have grown tremendously with both the public transport services and private vehicles depend on fuel. The demand for petrol has only increased in tandem with the city’s growth with most preferring to use two-wheeler to commute between places.

    Also Know: Petrol Price in Kerala

    The petrol consumption in Kozhikode is likely to increase in the near future and with the petrol price moving upwards it’s essential we understand how the petrol price in Kozhikode is determined before it’s sold to the end consumer. Below is an overview of how the pricing of petrol is influenced by various factors.

    Also Know: Diesel Price In Kozhikode

    How are Petrol Prices in Kozhikode Assessed?

    The cost of the crude oil forms the base rate of the petrol price, while other operational costs such as freight and profit margins are added before it’s sold to the consumers. With petrol prices changing every day, it’s important we understand how the petrol price is influenced. Let’s break down each of these factors to understand why petrol prices are revised regularly.

    • Crude Oil: India imports more than 70% of its crude oil from the Organisation of the Petroleum Exporting Countries (OPEC). Any fluctuations in the cost of the crude or unrefined oil impacts the price we pay for a litre of petrol, be it Kozhikode or other cities in India. The fluctuations of the crude oil price are due to any production cuts - declared by the oil-producing countries, change in the exchange rate of the base currency, shortage in supply, higher demand, etc.
    • Exchange Rate of the Base Currency: Oil-Marketing Companies (OMCs) purchase a barrel of crude oil in US dollars, therefore, any changes in the value of the dollar, the petrol price is affected. If there’s an appreciation in the US dollar value, the petrol price increases accordingly and vice versa.
    • Taxes on Petrol in India: Petrol in India attract taxes charged by the Central Government and the State Government. While the excise duty, levied by the Centre, on petrol is Rs.19.48 per litre, the Value Added Tax (VAT) implied by the State of Kerala is 32.03%. Both these taxes form the biggest component of the petrol price.
    • Profit Margins & Dealer Commission on Petrol: Oil companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum operate more than 90% of fuel stations across Kozhikode. Before the petrol is sold to the consumer, the fuel is refined by the oil companies to which they add their profit margin. Once the refined oil is sold, the dealer or the fuel station owners add their commision to the final retail price of petrol.

    Computation of the Petrol Price in Kozhikode

    To make it easier to understand the different component which determines the petrol price in Kozhikode, below is a table with the breakup of the cost. The price breakup of petrol is as of 20 May 2018. Please note, the price might differ between oil companies due to transportation costs and the brand.

    Sl.No. Component Price
    1 Global Crude Oil Price + Freight Charges $72.50 per barrel = Rs.31.17/Litre (considering $1=68.36 and 1 barrel oil = 159 litres)
    2 Profit margin, transportation, refining and freight charges Rs.5.93/Ltr
    3 Central Excise Duty Rs.19.48/Ltr
    4 Dealer Commission Rs.3.62/Ltr
    5 Value Added Tax (VAT) Rs.19.28/Ltr
    Total Retail selling price of petrol in Kozhikode Rs.79.48/Ltr

    Diesel Vs. Petrol Price in Kozhikode

    Similar to other cities in the country, petrol prices are higher compared to diesel. While both petrol and diesel are refined from the same crude oil, the refining process is complex in petrol. Hence, the petrol rate in Kozhikode is different from the cost for a litre of diesel.

    Also, the taxes levied on both the fuel is different. The excise duty changed on petrol is Rs.19.48 per litre, while diesel attracts Rs.15.33 for a litre, while the VAT levied on petrol is 32.33%, diesel is charged at 25.60%. The big difference in taxes makes the petrol expensive over diesel.

    How Often Petrol Prices in Kozhikode Revised?

    With the implementation of the ‘dynamic fuel pricing’ mechanism, petrol rates in Kozhikode are revised on a daily basis effective from 16 June 2017. Prior to the new pricing mechanism, petrol prices in the city were revised every fortnight, i.e., on the 1st and the 16th of every month. However, with the dynamic fuel pricing system, people of Kozhikode and other cities in India have to pay a different petrol price every day.

    As per the new regulations, petrol prices are updated daily at 6 a.m. IST based on the previous day’s crude oil price and the exchange rate of the US dollar over the INR.

    How to get the Daily Petrol Rate in Kozhikode?

    With petrol rates changing every day, it’s a challenge to track the current petrol price in Kozhikode or other cities in the country. However, OMCs have developed several customer-friendly options to get the daily petrol rate. Below are the various means of tracking the current petrol price.

    • Mobile Apps: With smartphones becoming one of the most used gadgets to acquire information, OMCs have launched their respective mobile apps to track the daily petrol price. Indian Oil consumers can download and install the ‘Fuel@IOC’, Bharat Petroleum users can make use of the ‘SmartDrive’ app, while those utilising fuel stations of Hindustan Petroleum can install the ‘MY HPCL’ app to track the petrol price.
    • SMS Service: The OMCs also offer services through SMS to track the daily petrol rates in several cities in the country. Below is the process to send the SMS to retrieve the fuel rate.
      • Indian Oil - Type RSPdealer code and send the SMS to 9224992249.
      • Bharat Petroleum - Type RSPdealer code and send the SMS to 9223112222.
      • Hindustan Petroleum - Type HPPRICEdealer code and send the SMS to 9222201122.
    • Online Portal: For those looking to check petrol rates through the online method, OMCs update their respective websites with the current petrol price in Kozhikode as well as other cities of the country.

    GST on Petrol in Kozhikode

    Effective July 2017, all goods and services rendered attract the new Goods and Service Tax (GST). However, petroleum products such as petrol and diesel have been exempted from the GST. Why is the GST not applicable on petrol? The highest tax slab of the GST is 28%; however, the excise duty and the VAT levied on petrol currently are comparatively much higher. So, by bringing petrol into the framework of the GST will hamper the revenue generated by selling petrol in the country. That said, if petrol comes under the ambit of the GST, it will certainly bring the price down.

    Also Check Petrol Price in NearBy Cities of Kozhikode

    Petrol Price In Kannur Petrol Price In Trivandrum Petrol Price In Malappuram
    Petrol Price In Thrissur Petrol Price In Coimbatore

    *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 Kozhikode

    • Wholesale Price Index (WPI)-based inflation rise to 3.18% in March

      Government data released on Monday showed that Wholesale Price Index (WPI)-based inflation stood at 3.18% in March. This is the highest since the start of the year. WPI-based inflation in the months of January and February was 2.76% and 2.93% respectively. The jump in the WPI-based inflation was accounted to costlier food and fuel.

      The data showed that inflation in the basket of food articles hardened to 5.68% in March while vegetable inflation was at 28.13%. Inflation in potato came down to 1.30% while for pulses and wheat it reduced to 10.63% and 10.13% respectively. Inflation for ‘protein-rich items’ saw inflation fall to 5.86% during the month of March 2019. When it comes to wholesale inflation in the ‘fuel and power’ category, it spiked to 5.41%. For petrol, inflation was 1.78% while for diesel it was 7.33%. It needs to be mentioned that the government had last week stated that retail inflation had accelerated to 2.86% in March from 2.57 in February.

      16 April 2019

    • Petrol and Diesel Prices Hiked Across Metros

      Petrol and diesel prices were hiked by State-run oil companies today across major metro cities of the country. While petrol prices were increased by 5 paise per litre, diesel received a hike of 6-7 paise per litre. With the revision, the petrol price in Delhi stands at Rs.70.33 per litre and diesel costs Rs.65.62 per litre. In Kolkata, petrol is being sold at Rs.72.44 per litre and diesel at Rs.67.40 per litre. Consumers in Chennai must pay Rs.73.00 per litre for petrol and Rs.69.25 per litre for diesel. In the financial capital of Mumbai, petrol is available at Rs.75.97 per litre and diesel at Rs.68.71 per litre. In other metro cities such as Noida and Gurugram, petrol is being retailed at Rs.70.25 per litre and Rs.71.26 per litre, respectively, while diesel costs Rs.64.85 per litre and Rs.65.44 per litre, respectively. Petrol and diesel prices were on record highs early October 2018, when petrol prices touched Rs.84 per litre in Delhi and it breached Rs.91 per litre mark in Mumbai. However, crude oil prices softened over the last couple of months which has prompted the decline in fuel prices in the country. Crude oil is currently trading around $61.39 per barrel, down 1.1% or 71 cents as compared to the previous settlement.

      12 February 2019

    • HPCL Chairman Says Government is Working Hard to Bring Down Fuel Prices

      Mukesh Surana, the Chairman of Hindustan Petroleum Corporation Limited in a recent interview has said that the central government is working hards towards bringing fuel prices down in the country.

      He stated that the administration is looking to increase the local production of oil and gas in a bid to fight the rising fuel prices, which have hit skyhigh and are at their highest ever points.

      He said that fuel prices shot up due to the fluctuations in the rupee- dollar dynamic, the issue with Iran, and also the supply-demand situation. He further said that the government is working towards finding alternative sources of fuel and is also considering blending Ethanol with petrol. He also stated that the administration is looking at increasing efficiency on of vehicles and machines that run on petroleum.

      Fuel prices have been rising for the last three weeks and prices in different cities vary due to a number of factors, mainly the taxes levied on it. The government has come under a lot of fire due to this, and it has withstood the pressure from opposition and the people and has maintained that the rising fuel price hikes is due to external factors and not internal factors.

      24 September 2018

    • Petrol Prices Cut For 7th Consecutive Day

      Petrol prices were cut for the 7th consecutive day. Across Delhi, Mumbai, Kolkata and Chennai, petrol prices were reduced by 12 - 14 paise per litre compared to the previous day’s price as per data from India’s largest oil company Indian Oil Corporation Limited (IOCL). The reduction in the petrol prices comes after a hiatus of 16 days when petrol prices skyrocketed in the backdrop of a soaring global crude oil price and the appreciation of the US dollar over the Indian rupee. Today’s petrol price in Delhi is Rs.77.83 per litre, Rs.85.65 per litre in Mumbai, Rs.80.80 a litre in Chennai and Rs.80.47 per litre in Kolkata. Despite an incline in the global crude oil prices, increase in the US production and the expectation from the OPEC to increase their supplies led to the cut in the petrol price.

      5 June 2018

    Petrol Price In Metro Cities
    Petrol Price In Other Capitals
    Petrol Price In Other Major Cities
    Petrol Price In States

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.