Petrol Price In Raipur Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 74.03
    Current Petrol Price Per Litre
    Compare Petrol Price in Raipur (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 74.03 ₹ 74.03 ₹ 0 ↑
    Petrol Price in Raipur - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 74.03
    20 Oct 2019 ₹ 74.03
    19 Oct 2019 ₹ 74.03
    18 Oct 2019 ₹ 74.03
    17 Oct 2019 ₹ 74.03
    16 Oct 2019 ₹ 74.03
    15 Oct 2019 ₹ 74.03
    14 Oct 2019 ₹ 74.08
    13 Oct 2019 ₹ 74.08
    12 Oct 2019 ₹ 74.08

    Petrol Rate Trend

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    Petrol Price in Raipur

    Raipur is the capital city of Chhattisgarh, a growing state in India. Petrol is widely consumed in the city with an increasing count of petrol-based four-wheelers and two-wheelers. This number has gone up by 12% in the last one year according to reliable sources. If you notice, the petrol price in Raipur has also accelerated to their previous highs towards the end of 2017. This was due to the arrival of the daily revision concept in India and relentlessly rising crude oil rates. Over the last 11 months, the cost of unrefined was up 20% to $65 per barrel.

    Historical Petrol Prices in Raipur

    Let’s make a comparative study of fuel prices in Raipur over the last three months. During January 2018, the petrol rate in Raipur was up 2.80% to Rs.73.36 per litre as of 31 January 2018. The lowest price was logged at Rs.70.49 per litre on 2 January 2018 whereas the highest rate was logged at Rs.70.49 per litre on 2 January 2018. February 2018 commenced with a price range of Rs.73.49 per litre and closed with a price tag of Rs.71.98 per litre. The fuel price was the highest at Rs.73.82 on 7 February 2018 and was the lowest at Rs.71.98 per litre.

    In March 2018, fuel rates in Raipur moved downwards for some period of time. They also showed upward trends for a few days. The last ten days of the month have produced a growing trend. When the month began, the petrol rate in the city was Rs.72.06 per litre. Towards the end of the month, it grew 2.62% to Rs.74.00 per litre. On 6 March 2018, the highest rate was booked at Rs.74.00 per litre. The opening day price was Rs.72.06 per litre, which was the lowest rate.

    Excise Duty and VAT on Petrol in Raipur – A Comparative Analysis

    What is the central tax on petrol now in the city? The central excise duty imposed by the Central Government of India on petrol is Rs.19.48 per litre as per the latest revision, which was done in February 2018. It was Rs.21.48 per litre in August 2018. It was the lowest at Rs.9.20 per litre in the month of August 2014. The state tax changes from state to state. In March 2018, in Chhattisgarh, the Value-added Tax on petrol was 28.93% on basic price. The higher the VAT on petrol, the higher will be the petrol rate and vice versa. Compared to Delhi and Goa, the cost of petrol in Chhattisgarh’s capital city is higher.

    Fuel Revisions System in Raipur

    How are fuel rates in Raipur presently reviewed today? The state-owned fuel companies spread across the country are presently ensuing dynamic fuel pricing in order to set and reset fuel rates. The city of Raipur is no different. In excess of 97% of petrol stations are operated and owned by IOC, which stands for Indian Oil Corporations Limited; HPCL, which stands for Hindustan Petroleum Corporations Limited; and BPCL, which stands for Bharat Petroleum Corporation Limited. They control the Indian fuel vending sector completely and contribute enormously to the development of the Indian economy.

    The scenario of Dynamic Fuel Pricing in Raipur

    The petrol price in Raipur has been relentlessly increasing under the dynamic fuel pricing scheme. It was less than Rs.69 per litre in June 2017 and kept on growing. Since the introduction of dynamic fuel pricing, the fuel rate in the city jumped by more than Rs.5 per litre owing to the daily fluctuations in the USD-Rupee value and global crude oil costs. Market experts expect that fuel rates will upsurge by a few paise over the next 60-90 days. The daily revision system, dynamic fuel pricing, provides numerous rewards to all industry players, including petrol users, oil marketing companies (OMCs), local petrol dealers, the government etc.

    How to Get Today’s Petrol Price in Raipur

    Petrol users can get the latest petrol rate in Raipur using any of one of the following options:

      Indian Oil Hindustan Petroleum Bharat Petroleum
    SMS Send a text message to 9224992249 in the following structure: RSP, leave a space, type the dealer code. Send a text message to 9222201122 in the following structure: RSP, leave a space, type the dealer code. Send a text message to 922311222 in the following structure: RSP, leave a space, type the dealer code.
    Online Visit https://www.iocl.com/ Visit http://www.hindustanpetroleum.com/ Visit https://www.bharatpetroleum.com/

    Note: Be instructed to download the mobile application of your choice to obtain the current petrol price in Raipur if you have a smartphone. If not, prefer using SMS services.

    Stages in Assessing Petrol Price in Raipur

    • Stage 1: The process of fixing the fuel price commences with importing unrefined oil. HPCL, IOCL and BPCL will buy crude oil in large quantities from other countries. The cost of crude oil is remitted in dollars. It was $65 per barrel towards the completion of March 2018. When we multiply the cost of crude oil by the USD/INR exchange rate, we can arrive at the cost price of crude oil in rupees. It is further divided by 159 to arrive at the cost of unrefined oil per litre, which was approximately Rs.26.
    • Stage 2: The costs spent by OMCs are added to the crude oil price. They include the Refinery Transfer Price, freight expenses, import duties, operational overheads etc. On an average, the total amount of expenses incurred by OMCs is expected to be Rs.8.40 per litre and is subject to fluctuate from time to time.
    • Stage 3: The central tax of Rs.19.48 is levied on petrol per litre further by OMCs. The VAT is levied at 28.93% in Chhattisgarh. More than 50% of the RSP of petrol consists of both state and central taxes. The Central Government retains the right to increase or decrease the central levy. On the other hand, the VAT element is fixed by the State Government of Chhattisgarh.

    Factors Influencing Current Petrol Price in Raipur

    The current petrol rate in the Raipur goes up when the cost price of unrefined oil increases. It falls down when the crude oil rate decreases. OMCs will increase the fuel price if the State Government of Chhattisgarh and the Central Government increase the taxes and vice versa. The exchange ratio of the USD/INR currency pair also affects the fuel rate. When the USD depreciates against the local currency consistently, the crude oil cost will fall proportionately and vice versa.

    Fuel prices will increase in domestic markets when oil supplying countries announce a fabrication cut. Oil supplying countries may consider increasing the fuel price in response to a growing demand for crude oil in transactional markets. Other influencers include seasonal variations, which affect the amount of crude oil to be extracted; weather conditions, which affect the distribution of the fuel in domestic markets; and political conditions in both oil exporting and importing countries.

    GST vs Petrol Price in Raipur

    GST has no effect on fuel prices since petrol is outside the regime of the GST. Petroleum products including natural gas, unrefined oil, aviation fuel and diesel have been outside the GST purview. So, the oil industry is required to adhere to the present tax and the GST regime. As per the current tax law, both the central and state governments share the tax on these products. So, there is a lack of standardization. Taking into account the relevance and scope of the oil industry, bringing petrol under the GST rule is a positive move as it permits the entire sector to utilise the input tax credits on the commodities and services used in the distribution channel.

    Also Check Petrol Price in NearBy Cities of Raipur

    Petrol Price in Ranchi Petrol Price in Bhopal Petrol Price in Bhubaneswar
    Petrol Price in Indore Petrol Price in Nagpur

    *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 Raipur

    • Petrol and Diesel Rates Increased for the Second Consecutive Day

      Fuel prices increased for the second consecutive day across major metro cities of the country. While petrol prices increased by 5 paise per litre, diesel prices inclined by 9 to 10 paise per litre. After the hike, a litre of petrol costs Rs.71.17 per litre and diesel costs Rs.66.20 per litre in the national capital Delhi. Yesterday, state-run Oil Marketing Companies (OMCs) hiked petrol prices by 8 to 10 paise while diesel rates were hiked by 15 to 16 paise. In Mumbai, petrol is being sold at Rs.76.78 per litre compared to yesterday’s price of Rs.76.73 per litre and diesel is being sold at Rs.69.36 per litre. In Kolkata, petrol costs Rs.73.24 per litre while diesel costs Rs.67.96 per litre. In Chennai, petrol is available at Rs.73.87 per litre and diesel is available at Rs.69.97 per litre. Fuel rates are indicative of the international crude oil prices and are computed based on the daily dynamic fuel pricing mechanism which considers the 15-day average price of crude oil and the rupee-dollar exchange rate.

      In the international oil market, benchmark Brent crude futures jumped to $73 per barrel, inclining by 7 cents or 0.1% compared to its previous settlement. Oil prices jumped on Tuesday on tensions between the US and Iran as well as due to signs that the OPEC and allies will continue to further

      22 May 2019

    • Petrol Costs Rs.81.34 in the National Capital

      With global crude oil prices softening, Oil Marketing Companies (OMCs) in the country continued to cut the prices of petrol in the country. On Monday, the rates were cut for the fifth consecutive day which saw the prices come down by Rs.0.30. The decline in the prices of petrol is providing relief to the consumers who were reeling under high fuel prices since mid-August. Following the cut in the prices on Monday, every litre of petrol cost Rs.81.34 in Delhi while in the financial capital of the country i.e., Mumbai the rates were Rs.86.91 for every litre. It needs to be mentioned here that the prices of petrol have come down by Rs.1.38 since last Thursday i.e., 18 October. It is noteworthy to mention here that the rate of petrol in the national capital was at an all-time high of Rs.84 per litre before the central government lowered the prices of petrol by reducing the excise duty rates. The cut in the prices at that time was Rs.2.50 for every litre.

      24 October 2018

    • Fishermen in Chennai Make a little Profit Using Boats

      Fishermen in the city of Chennai have come back to the sea after a 61-day interdict on diesel-run boats entering the waters. The profit was not great because of higher diesel rates. 2-3 days were spent by boats at the sea and came back on Sunday morning. Kadama, prawns and cuttlefish were brought by fishermen. Desappan, a fisherman, said “I incurred a bit on diesel and cannot sell fishes at higher prices since people are not interested.” Most fishermen have expressed the same opinion.

      18 June 2018

    • Fuel Prices Reduced by One Paise Due to the Reduction in the Global Crude Oil Price

      Fuel prices in India were reduced by 1 paise after 16 consecutive days of price hikes. The negligible cut in fuel prices comes after the international crude oil prices softened. However, fuel prices continue to rally at a higher cost in some cities such as Delhi and Mumbai. The opposition has been vehemently targeting the Modi government over the surging fuel prices in the country. While India’s leading oil company Indian Oil announced a price reduction of 60 paise on its website in the morning, but, it was changed soon with the company announcing that the reduction was supposed to be one paise, but due to a clerical error the price of fuel on 25 May 2018 was communicated as the current fuel price.

      30 May 2018

    • Petrol Prices come down marginally in metro cities

      The prices of non-branded petrol in the country came down marginally on Thursday. The prices fell by 0.2 paise in the national capital with one litre of petrol costing Rs. 71.70. In other metros, the cost for every litre of petrol were - Rs. 74.45 in Kolkata, Rs. 79.58 in Mumbai and Rs. 74.35 in Chennai. The prices of petrol in Mumbai and Chennai fell by 0.2 paise while in Kolkata the prices saw a rise of 0.1 paise as compared to the prices of petrol on Wednesday. The prices of non branded diesel also saw a decline in its prices on Thursday as compared to the previous day.

      22 February 2018

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