Petrol Price In Patna Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 76.87
    Current Petrol Price Per Litre
    Compare Petrol Price in Patna (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 76.87 ₹ 76.87 ₹ 0 ↑
    Petrol Price in Patna - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 76.87
    20 Oct 2019 ₹ 76.87
    19 Oct 2019 ₹ 76.87
    18 Oct 2019 ₹ 76.87
    17 Oct 2019 ₹ 76.87
    16 Oct 2019 ₹ 76.87
    15 Oct 2019 ₹ 76.87
    14 Oct 2019 ₹ 76.92
    13 Oct 2019 ₹ 76.92
    12 Oct 2019 ₹ 76.92

    Petrol Rate Trend

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    • 6 Months

    Petrol Price in Patna

    The Price of petrol 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 in Patna changes every day.

    Trend of Petrol Price in Patna for September 2019 (rates per litre)

    Parameters Rates/litre
    1st September Rs.75.61
    30th September Rs.77.95
    Highest Rate in September Rs.77.95
    Lowest Rate in September Rs.75.40
    Overall Performance Incline
    Percentage Change 3.09%

    Monthly Petrol Price Trend in Patna for September 2019:

    • Petrol price in Patna opened the month of September at Rs.75.61 per litre. The rates dropped towards the end of the first week after staying constant for the first four days.
    • The prices started the week at Rs.75.35 per litre before increasing marginally throughout the week due to trade tensions between Iran and the United States. Petrol ended the week at Rs.75.60 per litre.
    • In the third week, the prices in the city increased substantially after Saudi Arabian oil facilities were attacked by drones. The rates witnessed a hike of 26 paise in the week.
    • In Patna, the rates of petrol closed the month at Rs.77.95 per litre. This was the highest recorded price for the month of September. The overall performance of the fuel was 3.09%.

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

    Parameters Rates/litre
    1st August Rs.76.41
    31st August Rs.75.61
    Highest Rate in August Rs.76.41
    Lowest Rate in August Rs.75.44
    Overall Performance Decline
    Percentage Change -1.04%

    August 2019 – Week 1 (1-7):

    • Petrol price in Patna opened at Rs.76.41 per litre on 1 August, recording a 6 paise drop from the previous day’s closing price. Weak demand of the oil in the international as well as in the local market was the primary reason for the slump.
    • Petrol slumped further on the next day, trending at Rs.76.26 per litre. Prices kept trending downwards with petrol closing at Rs.75.87 per litre on 6 August. In the international oil market, crude prices slumped amid worries over weak demand of the oil after the Trump administration declared that it would impose tariffs on more Chinese imports.
    • Petrol rate in Patna remained unchanged from its previous day’s closing price, standing at Rs.75.87 per litre on 7 August. The overall performance recorded in the first week of August was -0.70%.

    August 2019 – Week 2 (8-14):

    • Petrol price in Patna opened at Rs.75.82 per litre on 8 August, recording a 5 paise slump from the previous day’s closing price.
    • Petrol dipped further by 15 paise on the next day, recording Rs.75.67 per litre. The dip was primarily due to the ongoing US-China trade tensions, fuelled further by Trump administration’s decision to impose more tariffs on Chinese imports. Unprecedented rise in US inventories was also one of the primary reasons for the dip.
    • Petrol price in Patna dropped marginally in the next few days before stabilising at Rs.75.59 per litre. The overall performance of petrol compared to the opening day was -1.07%, trending downwards. Meanwhile, in the international oil market, crude prices dropped due to possible supply cuts amidst looming global economic crisis.

    August 2019 – Week 4 (22-31):

    • Petrol price in Patna opened at Rs.75.44 per litre on 22nd August, unchanged from previous day’s closing price and its lowest recorded price for the month of August. After stabilising for the next few days, petrol prices went up marginally, recording Rs.75.66 per litre on 26 August. In the international oil market, crude gained after US inventories recorded a substantial slump.
    • Price of petrol in patna were slashed by 5 paise, recording Rs.75.01 per litre. Petrol remained unchanged till the end of the week and closed the month with the same price.
    • Overall, petrol’s performance in Patna was -1.04%, trending downwards. In the international oil market, crude slumped after concerns about the strength of US economy.

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

    Parameters Rates/litre
    1st July Rs.74.65
    28th July Rs.76.74
    Highest Rate in July Rs.77.17 on 23 and 24 July
    Lowest Rate in July Rs.74.65 on 1 July
    Overall Performance Decline to rise
    Percentage Change 2.80%

    July 2019 – Week 2 (8-14):

    • Petrol price in Patna opened at Rs.77.02 per litre, same as previous day’s closing rate. The prices were primarily stagnant because of the ongoing US-China trade tensions that’s speculated to affect the global economy adversely.
    • Petrol prices dipped marginally on the following day, closing at Rs.76.93 per litre—a 0.09 paise slump from previous day’s price. The drop was primarily due to the investors preferring safe-haven products like gold over petrol because of the looming global economic crisis triggered by the ongoing US-China trade tensions. The prices remained stagnant for the next couple of days.
    • Patna petrol price recorded its highest price of the week, closing at Rs.77.02 per litre (same as the opening day’s price). Middle East and US-Iran tensions couple with the tropical storm in the Gulf of Mexico contributed to the price surge. Also, the tropical storm prompted US oil producers in the Gulf of Mexico to cut supplies by more than half of the usual output.

    July 2019 – Week 1 (1-7):

    • When the week began, petrol price in Patna was at Rs.74.65 per litre – the lowest price recorded during the month marked by a marginal decline in crude oil prices supported by the supply cuts led by the OPEC and its allies.
    • On 2 July, petrol rate in Patna were hiked by 2 paise per litre to be sold at Rs.74.67 a litre. This remained untouched until 6 July before it rose sharply by Rs.2.35 per litre due to the hike in excise duty by Re.1 and cess on road and infrastructure by Re.1 per litre.
    • By the end of the week, petrol prices in Patna inclined by 3.18% largely due to the hike in duties and cess by the Central Government proposed in the 2019 Union Budget despite stable crude prices in the international oil market.

    July 2019 – Week 3 (15-21):

    • Petrol was priced at Rs.77.11 per litre when the week began – the lowest rate during the week amid a slight decline in crude oil prices after China said its quarterly economic growth was at its slowest in 27 years.
    • Over the week, petrol prices in Patna rose to touch the highest of Rs.77.15 per litre on 18 July, this was kept unchanged until the end of the week despite inclining crude oil prices in the market influenced by geopolitical tensions.
    • Overall, petrol prices rose in tandem with the rise in crude oil prices in the oil market amid escalating tensions in the Middle East after the US shot down an Iranian drone and the ongoing trade war between the US and China threatening to slow down the global economy.

    July 2019 – Week 4 (22-28):

    • Petrol in Patna was priced at Rs.77.15 per litre when the week began, unchanged from the previous day’s price. However, crude prices in the international oil market inclined marginally after the International Energy Agency (IEA) stated that it may act, if required, to keep markets stable amid rising Middle East tensions.
    • Prices rose to its highest when a litre of petrol in Patna was sold at Rs.77.17 on 23 July, which remained unchanged the next day. But weak demand and the continuation of production cuts by the OPEC and its allies dragged crude oil prices down.
    • By the end of the week, petrol prices fell to close at Rs.76.74 per litre indicating a slight incline in prices this week. Crude oil prices continued to drop due to a decline in US inventories leading concerns over muted demand for crude.

    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

    • Petrol prices kept unchanged across the major cities on Wednesday

      State-owned Oil Marketing Companies (OMCs) on Wednesday decided to keep the prices of petrol unchanged across the major cities of the country. Following the daily revision of the petrol prices, a litre of petrol was retailed for Rs.73.59 in the national capital. In the commercial capital i.e., Mumbai consumers were required to shell out Rs.79.20 while in Kolkata and Chennai a litre cost Rs.76.23 and Rs.76.43 respectively. It needs to be mentioned here that the price of petrol is cheapest in New Delhi among all metropolitan cities as the tax imposed on the fuel is lower than what it is in other metropolitan cities.

      In the international oil market, the prices of crude oil slipped for the third consecutive session on Wednesday. It was accounted to the diminishing hopes of Washington and Beijing striking a trade deal this week. The futures of Brent crude oil and US West Texas Intermediate (WTI) fell by 27 and 25 cents respectively and was trading at $57.97 and $52.38 per barrel.

      It must be noted here that the prices of petrol in the country shot up of late due to the drone attacks carried out on Saudi Arabia’s oil facilities. The attacks had knocked out around 5% of the global supply. India which imports 80% of the total crude requirements gets 2,00,000 tonnes of LPG every month from Saudi Arabia.

      9 October 2019

    • Petrol Prices Slashed Across the Four Metropolitan Cities

      Oil Marketing Companies (OMCs) on Sunday slashed the rates of petrol across all the metropolitan cities of the country. This was the fourth consecutive day when the prices of petrol have been cut. In Delhi, Mumbai, and Kolkata the rates of petrol were reduced by 16 paise per litre while in Chennai it was reduced by 17 paise per litre. Following Sunday’s revision in the prices, every litre of petrol was retailed for Rs.70.56 in the national capital. Consumers residing in metros like Mumbai, Kolkata, and Chennai had to shell out Rs.76.25, Rs.72.81, and Rs.73.30 for one litre of petrol.

      In the international oil market, oil prices had climbed by nearly 3%. The futures of Brent crude oil went up by 2.6% and was trading at $63.29 per barrel while the futures of US West Texas Intermediate were witnessed an increase of 2.7% to be trading at $53.99 per barrel. It needs to be mentioned here that both Brent crude and US WTI crude hit their lowest since January 2019 on Wednesday. The rates of petrol are revised on a daily basis by state-run OMCs as per the dynamic pricing scheme that was adopted by them in the month of June 2017.

      13 June 2019

    • Fuel Rates Hiked for the Second Straight Day

      State-run Oil Marketing Companies (OMCs) hiked fuel prices for the second consecutive day today across major metro cities of the country. Petrol pirces were hiked by 5 paise per litre, while diesel prices were increased by 9 to 10 paise per litre. Yesterday, OMCs increased petrol and diesel prices by 8 to 10 paise and 15 to 16 paise, respectively. After the revision in prices, in Delhi, petrol is being sold at Rs.71.17 per litre and diesel is being retailed at Rs.66.20 per litre. In Mumbai, petrol costs Rs.76.78 per litre and diesel costs Rs.69.36 per litre. Fuel prices in India are proportional to the international crude oil prices. Prices of petrol and diesel are calculated based on the daily dynamic fuel pricing mechanism which takes into consideration the 15-day average price of crude and the exchange rate of the rupee over the US dollar.

      Oil in the international market witnessed a period of volatility in the last few months; however, it inclined on Monday amid Saudi Arabia signaled that there was an agreement among the Organisation of Petroleum Exporting Countries (OPEC) and its allies to further limit the supply of crude in the market. OPEC and its allies such as Russia and other non-member oil producers had earlier agreed on 1 January 2019 to cut supplies of crude in the international market for six months to strengthen the oil market. Currently, international benchmark Brent crude futures stands at $72.32 per barrel.

      22 May 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

    • 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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