Petrol Price In Lucknow Today

  • Today's Petrol Price ( 18 Apr 2019 )
    ₹ 72.13
    Current Petrol Price Per Litre
    Compare Petrol Price in Lucknow (Today & Yesterday)
    (18 Apr 2019)
    (17 Apr 2019)
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    Petrol ( / litre) ₹ 72.13 ₹ 72.13 ₹ 0 ↑
    Petrol Price in Lucknow - Last 10 Days Data
    Date Petrol ( / litre)
    18 Apr 2019 ₹ 72.13
    17 Apr 2019 ₹ 72.13
    16 Apr 2019 ₹ 72.13
    15 Apr 2019 ₹ 72.17
    14 Apr 2019 ₹ 72.07
    13 Apr 2019 ₹ 72.07
    12 Apr 2019 ₹ 72.07
    11 Apr 2019 ₹ 72.03
    10 Apr 2019 ₹ 72.03
    09 Apr 2019 ₹ 72.03

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    Petrol Prices in Lucknow

    Being the capital city of Uttar Pradesh, Lucknow is a center of finance, technology and commerce. It is the biggest city by population and area. The city has a vast number of petrol users. In Lucknow, there are approximately 100 petrol stations owned by Bharat Petroleum, Hindustan Petroleum and Indian Oil. A majority of petrol stations are owned by Bharat Petroleum, which is a premier oil marketing brand in India. The consumption of petrol is increasing with a growing number of petrol users in the city. Petrol prices are no different.

    How are Petrol Prices in Lucknow Revised?

    In Lucknow, all 100 petrol bunks will revise petrol prices under the dynamic fuel pricing method, which came into effect on 16 June 2017. Dynamic fuel pricing is a streamlined fuel pricing method in which fuel rates are updated every day at 06:00 a.m. in sync with the exchange rate and the cost of crude oil. Other countries that follow the daily revision system include the United States of America, Russia and Australia. India joins these countries by introducing the system.

    The daily revision will enhance confidence in the sustainability of deregulation since regular variations can be easily transmitted to consumers. Under the new system, the revision is free from government interventions. Dynamic fuel pricing also gives oil marketing companies (OMCs) better control and flexibility. Dealers will be able to adopt the best inventory management principles. In the fuel retailing sector, the daily revision is a major reform.

    Why Dynamic Fuel Pricing?

    Dynamic fuel pricing has been introduced in India to eradicate political influence on fuel pricing, ensure 100% transparency in fuel pricing, align petrol customers to market dynamics, instantly transfer ups and downs in global crude oil prices to end users, reduce the impact on the working capital of dealers and oil marketing entities, and attract the involvement of private participants in the fuel retailing segment.

    Petrol Rates in Lucknow Before Dynamic Fuel Pricing

    In April 2017, petrol rates in the city were steady throughout the month. The fuel was sold at a price of Rs.69.35 per litre. In May 2017, the price revision was made twice. On the first day of May 2017, the price was Rs.70.76. On the last day of the month, it reduced to Rs.68.61. Prices were down by 3.13% in May 2017. On the opening day of June 2017, petrol was priced at Rs.69.86. On the closing day of the month, the petrol price in the city diminished to Rs.66.74 due to the effect of dynamic fuel pricing.

    Petrol prices in Lucknow after dynamic fuel pricing

    After the first two weeks of the daily revision, the petrol price in Lucknow started increasing marginally. On the last day of July 2017, the price increased to Rs.68.52 from Rs.66.74 as on the last day of June 2017. The lowest price in July 2017 was Rs.66.51 whereas the highest rate was Rs.68.52. Petrol prices were up by 4.04% and 2.90% in August 2017 and July 2017 respectively. The highest rate in August 2017 was Rs.71.53. On the last day of September 2017, the price further increased to Rs.72.71.

    Petrol Costs in Lucknow and other Cities

    Petrol was priced at Rs.70.86 in October 2017 in Lucknow. In New Delhi, the capital city of India, the fuel was priced at Rs.68.70. In Kolkata, the capital city of West Bengal, the average petrol rate per litre was Rs.71.50 in the same month. In Mumbai, the state VAT imposed on petrol is high. Due to which, the fuel was sold at an average price of Rs.75.75 per litre. In Chennai, the capital city of Tamil Nadu, the petrol price was lower than Rs.71.50 per litre in the same month.

    How are Petrol Prices in Lucknow Assessed?

    Crude oil is the primary raw material of petrol. It is bought from overseas oil marketing entities. Crude oil is traded in the base currency, which the currency of the United States of America (USA). The price remitted by Indian oil marketing corporations to purchase unrefined oil is called the cost of crude oil. Indian oil marketing companies also pay the freight charges incurred to shift crude oil from overseas ports to Indian ports. Another cost element is refinery transfer price, which is the price charged by refineries to convert crude oil into petrol.

    The profit margin of oil marketing companies (OMCs) is added to the costs incurred by OMCs. The biggest cost element in the price structure of petrol is the tax imposed on petrol. In Uttar Pradesh, petrol is taxed at 32.90%. The central excise duty levied on petrol in India was Rs.19.48 per litre as on 4 October 2017. Other cost elements include the commission charged dealers and pollution cess. All these cost elements are added to arrive at the retail selling price of petrol in Lucknow.

    Determinants of Petrol Prices in Lucknow

    The central government reduced the central excise duty on petrol by Rs.2 per litre on 3 October 2017. After the revision, the petrol rate in Lucknow was low by Rs.2 per litre. This is how the cost of petrol is impacted by variations in the central excise duty. Unlike Gujarat and Maharashtra, the government of Uttar Pradesh has not lowered the state VAT imposed on petrol in October 2017. Consequently, variations in the state VAT affect the final petrol price. The exchange rate and crude oil prices also affect petrol rates.

    What is the Impact of GST on Petrol Price in Lucknow?

    Indian customers pay GST on all types of goods and services. GST came into effect on 1 July 2017. All Indian taxpayers are brought under a common platform called GST. Petrol and diesel have not been included under the regime of GST. Therefore, the current GST rate does not make any difference to the cost price of petrol in the state. It is projected that the cost price of petrol will be reduced by at least 30% if GST is imposed on petrol.

    Also Check Petrol Price in NearBy Cities of Lucknow

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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 Lucknow Today

    • Petrol Prices Hiked by 7 paise per litre While Diesel Prices were Cut by 16 paise

      State-controlled oil marketing companies hiked petrol prices while diesel rates were cut today across major metro cities. While petrol rates were hiked by 7 paise a litre, diesel prices were cut by 16 paise per litre. Petrol costs Rs.72.78 per litre in Delhi, Rs.74.86 per litre in Kolkata, Rs.75.59 per litre in Chennai and Rs.78.40 per litre in Mumbai. Diesel prices stood at Rs.66.91 per litre in Delhi, Rs.68.70 per litre in Kolkata, Rs.70.71 per litre in Chennai and Rs.70.09 per litre in Mumbai. While diesel prices were cut by 15 paise in Kolkata, in Delhi, Mumbai and Chennai, diesel rates were down by 16 paise per litre. Fuel prices are computed based on the 15-day average price of crude oil coupled with the rupee-dollar exchange rate. New prices are effective from 6:00 am IST.

      Globally, crude oil prices were mixed today impacted by concerns that a global economic slowdown may affect fuel consumption but supported by production cuts by OPEC as well as the US curbs on Venezuela and Iran. Benchmark Brent crude oil were up by 8 cents compared to its previous close trading at $67.24 per barrel. US West Texas Intermediate (WTI) crude futures were trading at $58.43 per barrel, down by 9 cents compared to its previous close. Meanwhile, the rupee gained against the US dollar today to incline above the 69-mark.

      18 March 2019

    • Petrol prices today in top cities

      Petrol prices today in top cities

      Oil companies continued to increase the price of petrol for the 6th straight day. Petrol prices were up by 28 paise per litre today as oil prices increased by 1%. Petrol rates have been now a 3-week high in the country. A litre of petrol costs Rs.70.41 in the national capital, Delhi, Rs.72.73 in Bangalore, Rs.76.05 in Mumbai, Rs.73.08 a litre in Chennai and Rs.72.52 a litre in Kolkata. Over the last 9 days, petrol rates accelerated by Rs.1.84 a litre. Petrol rates fell to a year-low of Rs.68.29 per litre followed by a decline in oil rates. They have decreased by over Rs.12 a litre or 15%. On the other hand, the price of international benchmark Brent crude oil has decreased by 25% over the last three months. Oil rates were down 2% yesterday.

      16 January 2019

    • India Officially Opens Dialogue with OPEC For Responsible Pricing of Oil

      Fuel prices have been on the rise over the last month and a half and it has wreaked havoc on the lives of millions of individuals and businesses. Both petrol and diesel prices have risen by more than Rs.10 over the last few weeks, which the government is blaming the OPEC nations and the rising price of crude as the reason behind the hikes.

      India, being the third largest importer of oil, has now officially opened a dialogue with OPEC and has urged them to take a responsible route with the pricing of oil as the rises are against the market fundamentals and that it is impacting developing economies majorly. The country has seen fuel prices rise to all-time highs, which has been a combination of crude oil prices hitting a four-year high while the rupee has dipped significantly to its lowest levels against the US dollar.

      Dharmendra Pradhan, Oil and Petroleum Minister, spoke with OPEC, which exports up to 45% of the world oil and gave them a perspective of how crude prices are damaging their efforts. India imports 83% of crude from foreign nations, out of which, 80% of it comes from OPEC countries, while 80% of gas imports also come from them. The country believes that OPEC has a major say in how crude prices are set and hence their cooperation will help bring down fuel prices drastically for the nation.

      23 October 2018

    • Petrol Price Hiked by 13 Paise a Litre

      Petrol prices have been hiked by 13 paise a litre in Delhi with the fuel being sold at Rs.81 in the nation’s capital. Diesel prices have been increased by 11 paise a litre in Delhi with the fuel being sold at Rs.73.08 a litre. The incline in fuel prices is attributed to the rise in the global crude oil and the fall in the exchange rate of the rupee over the US dollar. Fuel prices are the cheapest in Delhi among four major metro cities in the country due to the lower tax or VAT. In Mumbai, petrol is available at Rs.88.39 per litre and diesel costs Rs.77.58 a litre. In Mumbai, petrol is the highest due to higher local tax or VAT. Fuel prices have been on the rise since 15 August 2018. Petrol has risen by Rs.3.92 per litre, while diesel has increased by Rs.4.31 per litre. State-run oil companies revise petrol and diesel prices on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism. Oil companies fix fuel prices based on the global crude oil rate and the exchange value of the rupee over the US dollar.

      17 September 2018

    • Oil Marketing Companies Continue to hike Petrol Prices

      The price of petrol continued to go upwards as Oil Marketing Companies (OMCs) hiked the prices marginally for the fifth straight day on Thursday. Petrol prices have been on the rise since August 16, when rupee dipped to its lowest value against the US dollar. As of Thursday, the domestic unit was Rs.70.82. Following the hike, the cost for every litre of petrol in the four metro cities were as follows - Rs.78.30 in Delhi, Rs.85.72 in Mumbai, Rs.81.23 in Kolkata and Rs.81.35 in Chennai. As compared to Mumbai, Kolkata, and Chennai, petrol price in the national capital was slightly lower due to the fact that lower sales tax or VAT is being charged in Delhi. It needs to be mentioned that the prices of petrol have gone up by almost a rupee within a fortnight due to the consistent hike in the prices. Globally, crude oil prices inched up on Thursday as it extended solid gains from the previous session due to reasons like fall in U.S crude inventories and expected disruptions to supply from countries like Iran and Venezuela.

      31 August 2018

    • Diesel Prices Touch a Record High

      Petrol and diesel prices have touched a new high and have gone up by nearly a rupee per litre within a fortnight. The government hoped that the rise in the global crude oil rate is temporary and it expects it to fall soon. While the petrol rate was increased by 13 paise per litre, diesel rates have been hiked by 14 paise, touching a new high. In Delhi, a litre of petrol is now available at Rs.78.18 compared to Rs.78.05 recorded yesterday, while diesel prices stand at Rs.69.75 as against Rs.69.61 yesterday. Subhash Chandra Garg, Economic Affairs Secretary, said that he earnestly believed that the incline in the crude oil prices is really temporary. Diesel rates have touched a new high going past the previous high of Rs.69.31 per litre recorded on 29 May 2018. While diesel prices have risen by Rs.1.03 per litre, petrol prices have inclined by Rs.1.04 a litre since 29 May 2018.

      31 August 2018

    • Petrol Rates in Metro and Other Cities Today

      Petrol price today in the national capital is down 14 paise to Rs.75.55 a litre. Today’s petrol price in Mumbai is down 18 paise to Rs.83.12 a litre. Similarly, the prices of petrol stand at Rs.78.23 a litre and Rs.78.40 a litre respectively in Kolkata and Chennai. Petrol price in Gurgaon is Rs.76.09 a litre and Rs.76.61 a litre in Noida. Similarly, the price of petrol today stand at Rs.76.49 a litre in Ghaziabad and Rs.76.33 a litre in Faridabad.

      26 June 2018

    • Petrol Prices Today

      On Monday, petrol rates continued to remain unchanged for three days in a row. Petrol rates in metro cities such as Mumbai, Chennai, Delhi and Kolkata were down by Rs.2 per litre so far this month. According to the official website of Indian Oil Corporation Limited, today, petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs.76.35 a litre, Rs.79.02 a litre, Rs.84.18 a litre and Rs.79.24 a litre respectively. Between 14 May 2018 and 29 May 2018, across the four metro cities in India, petrol rates have soared by Rs.3.74-4 a litre.

      Today, petrol prices in Agartala, Aizwal, Ambala, Bangalore, Bhopal, Bhubaneswar, Chandigarh, Dehradun and Gandhinagar were Rs.72.14 a litre, Rs.72.26 a litre, Rs.76.47 a litre, Rs.77.59 a litre, Rs.81.94 a litre, Rs.75.17 a litre, Rs.73.43 a litre, Rs.77.7 a litre and 75.66 a litre respectively. On Friday, crude oil prices, which influence fuel prices in the domestic market, were down by $2 per barrel. The Indian currency declined against the USD on last Friday.

      18 June 2018

    • Petrol Prices Touch Rs.75 in the National Capital

      Petrol prices were raised for the third successive day after the period of freeze in the prices came to an end on Monday. On Wednesday, the price of one litre of petrol was increased by 15 paise in Delhi and Mumbai, by 14 paise in Kolkata and by 16 paise in Chennai. The current hike has seen petrol prices in the country climb to its highest since September 2013 with the cost of petrol in metros like Delhi, Kolkata, Mumbai and Chennai being Rs.75.10, Rs.77.79, Rs.82.94 and Rs.77.93 respectively. It needs to be mentioned that in the last three days petrol prices have been increased by a cumulative 46-50 paise while if we look at it from the start of the year the prices have seen a hike in the range of Rs.5.07-Rs.5.40 per litre. On the global front, Brude crude oil as of Wednesday reached its highest since November 2014 with one barrel costing 79.47 dollars.

      17 May 2018

    • Petrol Prices in Mumbai below Rs. 80 per litre

      With fuel prices continuing to fall for the 12th day in a row in the country, petrol prices in Mumbai have come below Rs. 80 per litre with the current prices being Rs. 79.80. The petrol prices in the last 12 days has been cut by nearly Rs.1.46/litre with the biggest fall recorded on Saturday when it fell by 29 paise. The petrol prices in other metro cities are as follows - Delhi Rs. 62.44 per litre, Kolkata Rs. 74.63 while in Chennai the petrol prices were Rs. 74.58.

      19 February 2018

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