Petrol Price In Patna Today

  • Today's Petrol Price ( 18 Apr 2019 )
    ₹ 76.93
    Current Petrol Price Per Litre
    Compare Petrol Price in Patna (Today & Yesterday)
    Today
    (18 Apr 2019)
    Yesterday
    (17 Apr 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.93 ₹ 76.93 ₹ 0 ↑
    Petrol Price in Patna - Last 10 Days Data
    Date Petrol ( / litre)
    18 Apr 2019 ₹ 76.93
    17 Apr 2019 ₹ 76.93
    16 Apr 2019 ₹ 76.93
    15 Apr 2019 ₹ 76.98
    14 Apr 2019 ₹ 76.87
    13 Apr 2019 ₹ 76.87
    12 Apr 2019 ₹ 76.87
    11 Apr 2019 ₹ 76.81
    10 Apr 2019 ₹ 76.81
    09 Apr 2019 ₹ 76.81

    Petrol Rate Trend

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    Petrol Price in Patna

    Petrol price in Patna, the capital city of North Indian state of Bihar, is composed of various elements. For a common man, it often becomes difficult to actually understand how petrol is priced, why it doesn’t have an MRP and most importantly about why petrol price changes every day.

    Well, it might be difficult but it is not impossible. Knowing some basics about various elements involved in petrol pricing, the factors that affect petrol price in Patna on a daily basis would give a basic idea about how petrol price in computed in the city and in across India.

    Factors Affecting Petrol Rate in Patna

    There are two major factors that affect petrol rate in Patna– international and domestic.

    While international factors such as global crude oil prices and Indian rupee to US dollar currency exchange rate affect petrol price on a daily basis. Domestic factors such as state and central government taxes, oil companies’ profit margins and dealer’s commission do not affect petrol price in Patna on a day-to-day basis.

    However, any revision of domestic factors impact Petrol rate accordingly. Let’s see how and why these factors are responsible for varying petrol prices in Patna.

    • Crude oil prices: With India importing more than 70% of its crude oil requirements from the OPEC nations, the price of crude oil in the international market plays a key role in petrol pricing in India.

    With the implementation of dynamic fuel pricing model, petrol prices in India are being aligned to international crude oil prices on a daily basis. The volatile nature of crude oil price that changes dynamically thus impacts the petrol price in Patna.

    To calculate petrol price in Patna today, the price of international crude oil in yesterday’s market will be considered.

    • Currency exchange rate: Indian oil companies purchase crude oil in US dollars. While calculating petrol price in Patna, each US dollar will be converted into Indian rupee, based on the exchange rate prevailing on the previous day. The fluctuating nature of dollar thus shows impact on the petrol price on a daily basis. Whenever rupee falls against US dollar, petrol prices in India will increase and vice versa.
    • Central government tax on Petrol: One of the domestic factors that affect petrol price in Patna is the excise duty levied by the central government on petrol. Currently, the government charges an excise duty of Rs.19.48 per litre of petrol. The rate remains same across states.
    • Bihar state tax on Petrol: Bihar state government charges 24.64% value-added tax (VAT) on every litre of petrol sold in Patna. Whenever there is a revision in state taxes, petrol rate will be adjusted accordingly.
    • Profit margins of oil companies: The profit margins of oil companies affect petrol price in Patna but not on a daily basis. It is one of the components that make-up petrol price in the city.
    • Dealer’s commission: The refined petrol will be purchased by petrol dealers from the oil companies. The dealers add their own costs such as oil transportation cost, station maintenance cost, etc., in the form of dealers commission to the cost price of petrol. The commission is usually decided by the Indian oil companies and will be revised once every year. Whenever there is a revision of commission petrol price will get affected.
    Also Check: Petrol Price in Bihar

    Frequently asked questions (FAQs) on Petrol Price in Patna

    1. Why does petrol price in Patna change on a day-to-day basis?
    2. Petrol price in Patna changes every day due to dynamic fuel pricing model. The pricing mechanism aligns domestic fuel prices in the country to international crude oil prices on a daily basis. The revised price will be updated at the petrol stations at 6:00 a.m. every day. The dynamic pricing system was implemented to bring more transparency in petrol pricing and to prevent sudden increase or decline of petrol prices in the country.

    3. Where do I get the cheapest Petrol in Patna?
    4. Petrol price across the city of Patna remains the same except for few minute differences. However, the state-owned fuel stations such as Indian Oil, Hindustan Petroleum, and Bharat Petroleum offer the best petrol price in Patna compared to private counterparts like Shell and Essar. Among the public players, Indian Oil offers the cheapest petrol in Patna.

    5. Why does petrol price in Patna vary from one petrol pump to another?
    6. Petrol price in Patna differs from one petrol station to another due to the variation in the dealer’s commission. Since dealers commission includes fuel transportation costs and fuel station maintenance costs, fuel stations located close to oil refineries charge less and those with high maintenance costs charge more.

    7. What is the effect of GST on Patna petrol prices?
    8. GST or the goods and services tax is a new tax regime implemented in India. The new tax system is not being applied to all categories of products and services. Though most of the manufactured goods and services are taxed under GST, a few retail products are still kept outside GST net. Petrol and other fuel products are a few such products that are not taxed under GST. Hence, GST has no impact on petrol prices in Patna and also in rest of the country.

    Also Check Petrol Price in NearBy Cities of Patna

    *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 Patna Today

    • Check revised petrol prices today in metro cities

      Today, petrol is retailing at a rate of Rs.70.33 a litre in Delhi, Rs.72.44 a litre in Kolkata and Rs.73 per litre in Chennai respectively. As per the data released by the government, fuel and power inflation decreased to 8.38% as against 16.28% in the month of November because of lowering fall in the price of diesel and petrol rates since the month of December. According to dynamic fuel pricing, the pricing of petrol and diesel will depend on the exchange rate and the price of petroleum rate per barrel. The retail selling price of petrol and diesel is computed by adding various cost components such as the excise duty, value-added tax and he commission for dealers.

      16 January 2019

    • Check revised petrol prices today in metro cities

      Today, petrol is retailing at a rate of Rs.70.33 a litre in Delhi, Rs.72.44 a litre in Kolkata and Rs.73 per litre in Chennai respectively. As per the data released by the government, fuel and power inflation decreased to 8.38% as against 16.28% in the month of November because of lowering fall in the price of diesel and petrol rates since the month of December. According to dynamic fuel pricing, the pricing of petrol and diesel will depend on the exchange rate and the price of petroleum rate per barrel. The retail selling price of petrol and diesel is computed by adding various cost components such as the excise duty, value-added tax and he commission for dealers.

      16 January 2019

    • Petrol Gets a Price Cut for the Eighth Straight Day

      The price of petrol has been slashed for the 8th consecutive day thereby giving a relief to commuters. In New Delhi, 1 litre petrol now costs Rs.81.10, down by 15 paise while in Mumbai, the cost of petrol is Rs.86.58 per litre, down by 10 paise. On the other hand, the price of petrol in Kolkata is at Rs.82.95 per litre. The petrol prices received its first cut on October 18 after more than two months of a high-price streak. On October 4, the government slashed petrol price by a minimum Rs.2.50 of which Rs.1.50 per litre was a cut in excise duty while Rs.1 was by state-owned oil marketing companies. At present, Delhi, which did not cut VAT on fuel, still has the cheapest fuel among all the metros.

      26 October 2018

    • Rising Petrol Prices Bring about Laughter Amidst all the Doom and Gloom

      Fuel prices have been rising steadily for the last 15 days or so, keeping in line with the international trend. This has brought about a massive furore in the country as it was brought to a standstill by the opposition with the help of a bandh as few days ago.

      Now, despite all the doom and gloom surrounding the rising fuel prices, many twitteratis have chosen to see the funny side of things and are cracking jokes relating to the matter.

      One user tweeted saying, “May your happiness rise like the rising fuel prices in the country”. Fuel prices have been rising in the Rs.0.10 per litre range on a daily basis and the common people’s lives have been hit significantly by this. Add to this, all the hikes have given rise to inflation, where almost every daily use commodities, vegetables, and groceries are becoming that much more expensive to purchase.

      In Delhi, petrol prices went up to Rs.80 per litre, while diesel hovered around the Rs.75 per litre mark. In Mumbai, Chennai, and Kolkata too, petrol and diesel prices have been rising despite some state governments coming up with rate cuts to help consumers.

      17 September 2018

    • Petrol Prices Kept Unchanged for the Third Straight Day

      Petrol prices in India were kept unchanged for the third straight day. The last reduction in petrol prices was done on 15 June. The petrol price in Delhi on Monday stood at Rs.76.35 per litre, Rs.84.18 a litre in Mumbai, Rs.79.02 in Kolkata and Rs.79.24 a litre in Chennai. After touching an all-time high of Rs.78.43 a litre in Delhi on 29 May, diesel prices have not been raised in over a fortnight now. The decline in diesel prices in the last fortnight is attributed to the increase in production of crude oil announced by Saudi Arabia and Russia. Petrol prices have come down by nearly Rs.2 compared to the rise of close to Rs.4 per litre during the period when petrol prices touched record levels in most cities in the country.

      19 June 2018

    • Petrol Prices Raised for Second Consecutive Day

      Following Monday’s increase in the petrol prices, oil companies hiked the prices again on Tuesday. The collective hike has seen petrol prices in the national capital reach Rs.74.95 for every litre which is the highest since September 2013. The hike recorded in the two days comes after the 19 day freeze on price changes by the state-owned oil companies. Analysts believe that the prices will continue to be hiked in the coming days as well given that the oil companies would look to recover their marketing margins. As per Jefferies, an Equity research firm has stated in a report that the margins of the oil companies had fallen to Rs.0.25 from Rs.2.5 per litre.

      It needs to be mentioned that the increase in petrol prices is not only due to high international fuel prices. The other reason is that the central government after coming to power has increased the excise duty 10 times which has taken away the gains that arised from falling crude prices. The government in the last four years has cut the excise duty on petrol and diesel only once and that too by Rs.2 per litre.

      17 May 2018

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