Petrol Price In Kurnool Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 77.84
    Current Petrol Price Per Litre
    Compare Petrol Price in Kurnool (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 77.84 ₹ 77.84 ₹ 0 ↑
    Petrol Price in Kurnool - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 77.84
    20 Oct 2019 ₹ 77.84
    19 Oct 2019 ₹ 77.84
    18 Oct 2019 ₹ 77.84
    17 Oct 2019 ₹ 77.84
    16 Oct 2019 ₹ 77.84
    15 Oct 2019 ₹ 77.84
    14 Oct 2019 ₹ 77.89
    13 Oct 2019 ₹ 77.89
    12 Oct 2019 ₹ 77.89

    Petrol Rate Trend

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    Petrol Price in Kurnool

    Make sure to check petrol price in Kurnool before you fuel your vehicles. The price may not be constant every day. It may increase or decrease based on the price of unrefined oil. Today, the fuel selling companies operating across the country are following dynamic fuel pricing to determine and reset fuel price. Dynamic fuel pricing is primarily a method used to reset fuel rates taking into account the deviations in the exchange ratio (USD/INR) and global crude oil costs. Under this method, the price tag of petrol in Kurnool, a city in Andhra Pradesh, jumped to Rs.81 a litre during the first week of May 2018.

    OMCs

    There are three state-owned Oil Selling Companies (OMCs) in India: 1) Hindustan Petroleum Corporations Limited (HPCL), 2) Indian Oil Corporations Limited (IOCL), and 3) Bharat Petroleum Corporation Limited (BPCL). They are a major industry stakeholder. The offers made by these OMCs will change slightly because of the brand identity. For instance, today’s petrol price in Kurnool at HPCL minutely differs from the price offer at BPCL. Sometimes, within the same city, the commission collected by fuel distributors may also vary. Thus, petrol rate is affected.

    Definition of Dynamic Fuel Pricing

    Like mentioned earlier, dynamic fuel pricing is the name of the system deployed in India to review fuel rates regularly. Since June 2017, the OMCs have been using this system, which provides several advantages over the fortnightly-based fuel pricing methodology. It gained popularity not only in India but also in other highly advanced nations, including the United States of America, Japan and Russia. Before implementing in all the regions of India, dynamic fuel pricing was experimented in 5 cities.

    Characteristics of Dynamic Fuel Pricing

    • Fuel stations owned by HPCL, BPCL and IOCL across the city of Kurnool will announce the revised petrol rate every day.
    • Majorly, the variations in crude oil rates are observed to release the new offer. To some extent, the INR/USD exchange rate is taken into consideration.
    • The latest petrol price in Kurnool is displayed within the premises of fuel points. It will also be made available via various types of offline and online modes.
    • Fuel rates in Kurnool can be revised automatically or manually.

    Prime Benefits of Dynamic Fuel Pricing

    • The OMCs are allowed to easily handle stock. Handling stock was one of the biggest problems previously.
    • They are also permitted to keep their cash flows unaffected. Administrative overheads can be reduced as much as possible.
    • Fuel pricing will be 99.99% transparency.
    • Petrol customers are interlinked to real-time market conditions.
    • The changes in the market rate of the commodity are quickly transferred to buyers of petrol in the city.

    Ways to Get Current Petrol Rate in Kurnool

    Which is your preferred fuel brand? Is it HPCL or BPCL or IOCL? If your preferred oil marketing brand is HPCL, today’s petrol price in Kurnool can be gotten via using its mobile application called My HPCL. If you are seeking to get the price range declared by IOCL, be instructed to use Fuel@IOC, a mobile application launched by IOCL. On the other hand, all the customers of BPCL are recommended to make use of its mobile app, which is SmartDrive. This option holds good only for smartphone holders. Non-smartphone users can consider using offline methods such as SMS services and customer care services in order to receive the current fuel price in Kurnool.

    Computation of Petrol Rates in Kurnool

    Fuel rates are computed by the Indian OMCs considering the expenses incurred at every phase. What are the elements included in the selling rate of petrol? They consist of taxes, the total amount of overheads expended by the fuel brands, the commission charged by retail petrol suppliers in the city, crude oil expenses, etc. Crude oil expenses and taxes account for 80-85% of the retail price of petrol. They were approximately Rs.27 per litre and Rs.31 per litre respectively as of 1st May 2018. Pollution cess was 25p per litre. On petrol per litre, the dealer’s commission was Rs.3.59. All the cost centres are subject to fluctuate. Because of the Value-added Tax component, fuel rates in the Indian cities will be different. Therefore, fuel prices in Kurnool are higher compared to Delhi.

    Factors Affecting Petrol Prices

    Apart from dynamic fuel pricing, there are several aspects affecting petrol prices. The major aspects are taxes, the exchange ratio and crude oil prices in global marketplaces. Taxes are of two categories: VAT and excise duty. VAT is collected by the concerned state government. In our case, it is the State Government of Andhra Pradesh. On the contrary, the Central Government of India collects excise duty, which was Rs.19.48 a litre as per the recent announcement. Needless to say, petrol prices are increased by the fuel companies if there is a hike in VAT and vice versa.

    The cost price of crude oil is the biggest factor. It will rely on many forces, including climate reports, demand, supply, etc. Sometimes, the production of crude oil is interrupted for some reasons. In that case, crude oil prices are hiked by oil exporting companies. In the end, fuel rates in India are accelerated. Like discussed in the previous section, if there is a major change in the USD/INR ratio, fuel rates are adjusted accordingly. Since the USD depreciated marginally against the Indian rupee in the month of January this year, petrol price in Kurnool produced a decent rise.

    Impact of Goods and Services Tax (GST) on Latest Petrol Price in Kurnool

    Currently, petrol is not taxed under the GST framework. Other sub-products of petrol have been excluded from the GST list. Fuel consumers and market specialists have expressed concerns related to this issue. According to them, brining petrol, diesel and petroleum commodities under the realm of GST is a good option to restructure the existing tax system. The GST Committee has to take a call whether or not to consider petrol.

    Also Check Petrol Price in NearBy Cities of Kurnool

    *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 Kurnool

    • Norway GPFG Green Shift to Hurt Indian Oil Companies

      World’s largest sovereign wealth fund decision to stop investing in oil and gas explorers globally could have an impact on Indian companies like Reliance Industries Ltd (RIL), Oil and Natural Gas Corp. Ltd. (ONGC), Indian Oil Corp Ltd. (IOCL) and Oil India Ltd. (OIL), where it has invested over $1 trillion. The decision of Norway’s Government Pension Fund Global (GPFG) comes amid the backdrop of uncertainly in global oil markets as well as concerns about climate change that have prompted several countries to focus more on renewable energy. GPFG has made more than 250 investments in Indian equities so far adding to $7.39 billion. It has invested $658 million in RIL ($485 million), ONGC ($108 million), IOC ($61 million) and OIL ($2 million). GPFG owns less than 1% stake in each of these four oil companies. In a statement, it said that the government of Norway is proposing to exclude companies classified as exploration and production (E&P) firms within the energy sector from the Government Pension Fund Global to cut the oil price risk in the Norwegian economy.

      It added that those classified as E&P companies by the index provider FTSE Rusell as belonging to a sub-sector will be excluded from the GPFG’s benchmark index and investments. It added that this proposal will help reduce the aggregate concentration risk associated with this type of activities in the economy of Norway. It also said that exploration and production firms will be phased out from the fund gradually.

      13 March 2019

    • State-owned Oil Marketing Companies are the Biggest Gainers of the Oil Price Fall, Reports Say

      According to a latest report, car and bike owners aren’t the only ones saving big money. In fact, the biggest gainers of the crude oil price drop are the oil marketing companies. The marketing margin of fuel sold which is the difference between retail selling prices and transfer price after deducting dealer commissions reached Rs.6.07 for petrol and Rs.4.75 per litre for diesel.

      India’s crude oil basket dropped by 31 percent from the high seen on the 4th of October when it was trading at $85.1 per barrel, while retail petrol prices for the average consumer were slashed 12.4 per cent in the period. The combined market value of all the OMCs in the country stands at Rs.2.41 lakh crore which is 10% lower than was seen on the 4th of October.

      30 November 2018

    • Petrol Prices in Bihar the Second Highest in the Country, Reports Say

      Fuel prices have continued to soar in India with no end to the rise yet to be seen. Now, according to latest reports, it is being said that fuel prices are the second highest in the country in the state of Bihar. Reports from Wednesday, the 20th of September, said that petrol prices were at Rs.88.38 per litre in Patna and Rs.88.90 per litre in Muzaffarpur. Diesel, on the other hand, hit the Rs.80 mark in the same day as rupee continued its fall.

      Fuel prices are the highest in Mumbai compared to other cities in the country. On the same day, petrol prices in Mumbai was recorded at Rs.89.63 per litre, while in Delhi, it was Rs.82.25 per litre.

      The central government has been under immense pressure to bring the fuel rates down, however, it has so far staved off from doing so as it claims to not take any hasty decisions which can impact the economy. The constant price rise is due to the rising crude oil prices and the declining rupee which has made importing fuel more expensive.

      24 September 2018

    • Petrol Prices Kept Unchanged for the Third Consecutive Day in Delhi

      State-run fuel companies kept petrol prices unchanged for the third consecutive day in the national capital New Delhi on Friday. Prices were cut by 7 paise per litre. In New Delhi, petrol was being sold at Rs.76.23 a litre. In the finance capital Mumbai, petrol prices stand at Rs.83.68 a litre. While in Kolkata and in Chennai, petrol is being retailed at Rs.79.10 and Rs.79.18 respectively. Meanwhile, diesel prices were slashed across all four metros. In New Delhi, diesel is available at Rs.67.72 a litre, in Mumbai at Rs.71.89, in Kolkata at Rs.70.43 and in Chennai at Rs.71.52. Fuel companies had sold diesel on Thursday at Rs.67.79 per litre in New Delhi, at Rs.71.97 in Mumbai, at Rs.70.48 in Kolkata and at Rs.71.59 in Chennai. Thus, diesel rates were decreased by 7 paise in New Delhi, 8 paise in Mumbai, 5 Paise in Kolkata and by 7 paise in Chennai. Fuel prices in the country are revised on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism which is based in the global crude oil rate and the currency exchange value.

      30 July 2018

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