Petrol Price In Lucknow Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 74.81
    Current Petrol Price Per Litre
    Compare Petrol Price in Lucknow (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 74.81 ₹ 74.81 ₹ 0 ↑
    Petrol Price in Lucknow - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 74.81
    20 Oct 2019 ₹ 74.81
    19 Oct 2019 ₹ 74.81
    18 Oct 2019 ₹ 74.8
    17 Oct 2019 ₹ 74.8
    16 Oct 2019 ₹ 74.8
    15 Oct 2019 ₹ 74.8
    14 Oct 2019 ₹ 74.85
    13 Oct 2019 ₹ 74.85
    12 Oct 2019 ₹ 74.85

    Petrol Rate Trend

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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 price in Lucknow are no different.

    Trend of Petrol Price in Lucknow for August 2019 (rates per /litre ):

    Parameters Rates/litre
    1st August Rs.72.08
    31st August Rs.73.77
    Highest Rate in August Rs.73.82 on 26, 27 and 28 August
    Lowest Rate in August Rs.71.29 on 19 August
    Overall Performance Incline
    Percentage Change 2.34%

    Monthly Petrol Price Trend in Lucknow for August 2019:

    • Petrol prices in Lucknow opened the month of August at Rs.72.08 per litre, a 4 paise drop from the rates charged the previous day. The rates dropped in the next few days and closed the first week of the month at Rs.71.63 per litre.
    • With the international oil prices fluctuating due to the trade tensions between the United States and China, the rates dropped to Rs.71.41 per litre on 11 August. The rates dropped further in the next couple of days to register the lowest price for the month on 19 August of Rs.71.29.
    • The petrol rates in Lucknow jumped in the following days as the prices of international crude oil witnessed a spike with the trade tensions between Washington and Beijing eased. Petrol prices touched Rs.73.82 per litre on 26 August, the highest for the month before closing at Rs.73.77 per litre.
    • The overall performance of petrol in Lucknow for August was 2.34%.

    Trend of Petrol Price in Lucknow for July 2019 (rates per litre)

    Parameters Rates/litre
    1st July Rs.70.22
    31st July Rs.72.12
    Highest Rate in July Rs.72.56 on 23 and 24 July
    Lowest Rate in July Rs.70.22 per litre on 1 July
    Overall Performance Incline
    Percentage Change 2.71%

    Monthly Petrol Price Trend in Lucknow for July 2019:

    • When the month began, petrol in Lucknow was sold at Rs.70.22 per litre – the lowest price during the month – and inclined by the end of the week to close at Rs.72.20 per litre after the Centre imposed an additional excise duty and cess of Rs.2 per litre to mop up revenue for social welfare schemes.
    • While petrol prices rose initially during the second week, it declined by the end of the month to close at Rs.72.30 per litre despite an inclining crude oil prices due to tensions in the Middle East although supply cuts led by the OPEC and its allies kept markets stable.
    • Prices continued to rise during the third week to end at Rs.72.51 per litre amid rising crude oil prices marked largely due to the escalating tensions in the Middle East after the US navy said it downed an Iranian drone in the region.
    • By the end of the month, petrol prices rose to touch a monthly high of Rs.72.56 per litre on 23 and 24 July as crude oil price rose sharply amid declining US inventories indicating a weak demand and the ongoing tensions in the Middle East after the US said it may have downed a second Iranian drone.

    Trend of Petrol Price in Lucknow for June 2019 (rates per litre)

    Parameters Rates/litre
    2nd June Rs.71.04 per litre
    30th June Rs.70.15 per litre
    Highest Rate in June Rs.71.04 per litre on 2 June
    Lowest Rate in June Rs.69.80 per litre from 16-23 June
    Overall Performance Decline
    Percentage Change -1.25%
    • Petrol was priced Rs.71.04 per litre on 2 June, up marginally compared to the previous day’s price in Lucknow. This was also the highest petrol price in Lucknow for June 2019.
    • Prices declined in the first and second week attributed by the fall in crude oil prices in the market supported by the supply cuts led by the OPEC and its allies even after geopolitical tensions in the Middle East after Iran shot down a US military drone.
    • Between 16 and 23 June, petrol prices in Lucknow were at its lowest for the month when it was sold at Rs.69.80 per litre influenced by the sharp fall in crude oil prices in the global market.
    • Overall, petrol prices during June 2019 declined by 1.25% owing to the drop in crude oil prices despite geopolitical tensions between the US and China over trade between the two nations and sanctions on Iran.

    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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    Petrol Price in Agra Petrol Price in Kanpur Petrol Price in Aligarh Petrol Price in Bareilly

    *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 for the third consecutive day

      State-run Oil Marketing Companies (OMCs) on Thursday increased the prices of petrol across all the major cities of the country. This was the third consecutive day when the rates were increased. The prices were increased by 29 paise for every litre in New Delhi, Mumbai, and Kolkata while in Chennai the rates were hiked by 30 paise per litre. Following the increase in the prices, every litre was retailed for Rs.72.71 in the national capital. In Mumbai, Kolkata, and Chennai a litre cost Rs.78.39, Rs.75.43, and Rs.75.56 respectively.

      It needs to be mentioned here on Wednesday, the prices of crude oil retreated by about 2 percent. The futures of Brent crude oil were down by 95 cents or 1.5% and was trading at $63.60 per barrel. The rupee also opened lower at Rs.71.34 against the US dollar on Thursday. It must be noted here that the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar as India imports 80% of the total crude requirement.

      19 September 2019

    • Rates charged for petrol and diesel gets cheaper in the national capital than in UP

      With the Uttar Pradesh government raising taxes on both petrol and diesel, the rates charged for a litre of both petrol and diesel has become cheaper in New Delhi than in the neighbouring state of UP. It needs to be mentioned here that following the cut in VAT by BJP-ruled states on 5 October 2018, the rates charged for both the fuels in Noida and Ghaziabad had become cheaper when compared to the prices charged in the national capital.

      Following the hike in VAT by the UP government, a litre of petrol was sold for Rs.73.79 in Noida. In Ghaziabad, consumers were required to shell out Rs.73.65. In New Delhi, Oil Marketing Companies (OMCs) retailed a litre for Rs.71.84. A litre of diesel was sold for Rs.65.11 in New Delhi. In the UP towns of Noida and Ghaziabad, a litre cost Rs.65.40 and Rs.65.26 respectively.

      It is noteworthy to mention here that the UP government had raised VAT on petrol and diesel by 26.80 and 17.48 percent respectively. In terms of rupees, the hike responds to Rs.16.74 for petrol and Rs.9.41 for diesel.

      21 August 2019

    • Petrol Prices Kept Unchanged by OMCs on Wednesday

      The rates of petrol were kept steady in the country by state-run Oil Marketing Companies (OMCs) on Wednesday. The prices were kept unchanged after six consecutive days of reduction. Following the revision of prices on Wednesday, every litre of petrol was retailed for Rs.71.23 in the national capital. In the commercial capital of the country i.e., Mumbai consumers were required to pay Rs.76.91 per litre. Denizens residing in Kolkata and Chennai had to shell out Rs.73.47 and Rs.74.01 for every litre of petrol.

      It needs to be mentioned here that state-run OMCs have reduced the prices of petrol in New Delhi by Rs.0.50 since May 31. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai, the rates have been reduced by Rs.0.43, Rs.0.32, and Rs.0.45 per litre in the last six days. The rates of fuel in the country are revised daily as per the dynamic pricing scheme that was adopted by the OMCs in June 2017. As per the mechanism, the rates are determined by the international crude oil prices on a 15-day average and the value of rupee against the US dollar.

      13 June 2019

    • 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

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