Petrol Price In Shimla Today

  • Today's Petrol Price ( 18 Apr 2019 )
    ₹ 71.86
    Current Petrol Price Per Litre
    Compare Petrol Price in Shimla (Today & Yesterday)
    Today
    (18 Apr 2019)
    Yesterday
    (17 Apr 2019)
    Rate Change
    Petrol ( / litre) ₹ 71.86 ₹ 71.86 ₹ 0 ↑
    Petrol Price in Shimla - Last 10 Days Data
    Date Petrol ( / litre)
    18 Apr 2019 ₹ 71.86
    17 Apr 2019 ₹ 71.86
    16 Apr 2019 ₹ 71.86
    15 Apr 2019 ₹ 71.91
    14 Apr 2019 ₹ 71.79
    13 Apr 2019 ₹ 71.79
    12 Apr 2019 ₹ 71.79
    11 Apr 2019 ₹ 71.73
    10 Apr 2019 ₹ 71.73
    09 Apr 2019 ₹ 71.73

    Petrol Rate Trend

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    Petrol Price in Shimla

    Are you observing the movement of petrol prices in Shimla? If yes, have you noticed the trend? What is the trend then? Is it a downward trend or an upward trend? Considering the present fuel market, it is tough to answer these questions. To some extent, market specialists can comprehend the future trend. Since petrol is not a tradable instrument, petrol buyers are not interested in understanding and predicting the trend. Still, it is an interesting subject.

    On 01 January 2018, petrol price in Shimla was Rs.70.16 a litre at Indian Oil Company. Almost the same price range was provided by Hindustan Petroleum and Bharat Petroleum. After four months, the fuel rate in Shimla, the biggest and capital city of Himachal Pradesh, hiked to Rs.74.77 a litre. We can see a price rise of Rs.4.61 per litre. Is it not a big difference? It is! A multi-year high has been crossed in January 2018 in the city of Shimla owing to a 7% hike in the market value of unrefined oil. Metro cities such as Chennai, Delhi, Kolkata and Mumbai have also reported the same result.

    Latest Petrol Price in Shimla – A Comparison Among Indian Cities

    Petrol prices tend to fluctuate among Indian cities primarily because of two reasons: 1) commission for fuel suppliers and 2) Value-added Tax (VAT). Sometimes, the distance shuttled from refinery centers to fuel supply stations can make petrol prices to fluctuate from city to city. As of May 2018, on petrol, Value-added Tax (VAT) was enforced at 27%, 39.95% and 25.29% in Delhi, Maharashtra and West Bengal correspondingly. In Himachal Pradesh, it was 24.34%.

    Revision of Petrol Rate in Shimla

    We are in the era of dynamic fuel pricing today. It has been deployed by Indian Oil (IOCL), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL). These Oil Marketing Corporations are liable to define and redefine fuel rates. Like earlier, petrol is revalued based on the trends in the unrefined oil sector and the FX market. The frequency of revision is different under dynamic fuel pricing. Fuel rates in Shimla will no longer be restructured twice a month. In lieu of that, they will be reviewed regularly under the newly adopted fuel revision framework in all regions of India, including Shimla.

    Prime Features of Dynamic Fuel Pricing

    • Dynamic fuel pricing can be considered a streamlined version of the previous methodology.
    • It combats the complexities, which were previously faced by fuel customers.
    • At 06:00 a.m., the latest petrol price in Shimla will be made accessible to the public via offline and online modes.
    • Prices are revised on a daily basis. Trends will determine whether to increase or decrease them. If there is no variation, they are not changed.

    Merits of Dynamic Fuel Pricing

    Unquestionably, dynamic fuel pricing provides several benefits to petrol buyers and the fuel marketing entities. Primarily, the fuel corporations can keep customers happy through supplying petrol uninterruptedly. This was not the case previously. Fuel pricing remains unaffected by political factors. Dynamic fuel pricing is believed to have been a big plus for the OMCs. It enables them to minimise the overall expenses necessitated to run the business. Moreover, the productivity of the OMCs is expected to grow reasonably under dynamic fuel pricing.

    How can I get the Current Petrol Price in Shimla?

    Despite the quantum of usage, every petrol user has to get the latest petrol rate in Shimla. It is important also. A price hike or a price downfall will impact the billing sum. Let’s presume you are buying 50 litres of petrol today at Hindustan Petroleum, which has declared a price fall of Rs.1 per litre. You can save Rs.50. If HPCL announces a price rise of Rs.1 a litre, you can plan the budget in advance. Hence, experts advise you to monitor changes. How?

    If you are a customer of Indian Oil, do not forget to use the mobile app crafted by this company. The name of the mobile app is ‘Fuel@IOC.’ The customers of Hindustan Petroleum are recommended to make use of ‘My HPCL,’ which is customer-friendly and easy to access. SmartDrive, a mobile app released by Bharat Petroleum, is required to be downloaded if you a customer of this oil marketing brand. The latest fuel rate in Shimla can also be obtained using other sources as well.

    How is the Petrol Price in Shimla Assessed?

    Sellers have to define the price mark ultimately considering several elements. Prime cost centers of the Retail Selling price include central taxes, state taxes, crude oil rates, pollution cess, commission for retail fuel dealers, expenditures spent by the fuel companies etc. Recently, on petrol, excise duty was reported to be Rs.19.48 per litre in the city. It remains unaltered across India. Like mentioned in the earlier section, as of April 2018, the Government of Himachal Pradesh levied a 24.34% VAT. Similarly, crude oil prices were reported to be Rs.27 per litre.

    Elements Affecting Petrol Rate in Shimla

    Let’s consider the recent trends. Petrol accumulated its rate in January 2018 and March 2018 as well. But, in the month of February 2018, prices were down. The disparities were caused by crude oil expenditures. The exchange rate is equally important. It will affect the price ranges proportionately. If the Indian currency is reported to be weaker versus the dollar, the fuel loses it price. On the other hand, if the USD is reported to be stronger against the rupee, petrol is undervalued.

    Current Fuel Price in Shimla versus Goods and Services Tax (GST)

    Till date, GST is not applicable to petrol, diesel, petroleum derivatives etc. It has been executed on other commodities in the rage of 5%, 12%, 18% and 28%. The existing VAT and excise duty should be substituted if the Central Government intends to levy the GST tax slab on petrol. The insertion of petrol under GST is not a better option from the perspective of the State Government. Petrol price in Shimla will drop by 22-30% according to analysts.

    *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 Shimla Today

    • Petrol Prices Hiked by Rs.0.06 on Sunday

      State-run Oil Marketing Companies (OMCs) on Sunday hiked the rates of petrol by Rs.0.06 across the major cities of the country. Following the increase in the prices, every litre of petrol was retailed for Rs.72.92 in the national capital. In the other metro cities of the country i.e., Mumbai, Kolkata, and Chennai, one litre of petrol was sold for Rs.74.94. Rs.78.49, and Rs.75.68 respectively.

      The jump in the prices of petrol came after a day when the rates were kept unchanged in the country. It needs to be mentioned here that the rates of petrol in the country are based on a 15-day average of global crude prices and the rupee-US dollar exchange rate. In the international oil market, Brent crude oil was trading around the mark of $71.5 per barrel. It is noteworthy to mention here that due to the ongoing elections, Oil Marketing Companies (OMCs) have put the dynamic pricing policy on hold fearing a backlash for the public.

      16 April 2019

    • No Change in Fuel Prices After Six Continues Hikes

      After six straight increase in petrol and diesel prices, state-run oil companies kept fuel prices unchanged on Wednesday. Petrol is being sold at Rs.71 per litre and diesel at Rs.66.17 per litre in national capital Delhi. It may be noted that petrol and diesel prices were hiked on Tuesday by 9-11 paise litre and 6-7 paise litre, respectively. In Mumbai, petrol costs Rs.76.64 per litre and diesel is available at Rs.69.30 per litre. Similarly, in Chennai and Kolkata, petrol is being sold at Rs.73.72 per litre and Rs.73.11 per litre, while diesel prices were at Rs.69.91 per litre and Rs.67.95 per litre, respectively. In Noida and Gurugram, petrol rates were at Rs.70.78 per litre and Rs.71.65 per litre, while diesel rates were at Rs.65.32 per litre and Rs.65.77 per litre, respectively. Fuel prices are proportional to the global crude oil prices, which are dynamic in nature, and the rupee-dollar exchange rate. On Wednesday, the international benchmark Brent Crude oil futures were near 2019 highs amid output cuts by OPEC and the US sanctions on Iran and Venezuela. Brent crude was trading at $66.83 per barrel this week.

      20 February 2019

    • Petrol and Diesel Prices Kept Unchanged Today

      State-owned Oil Marketing Companies (OMCs) on Thursday kept petrol and diesel prices unchanged for the second straight day after a steep increase on Tuesday, the sixth day of fuel price revision. In Delhi, petrol costs Rs.71.27 per litre, while diesel is being sold at Rs.65.90 per litre. In Mumbai, petrol is available at Rs.76.90 per litre and diesel Rs.69.01 per litre. In Chennai, petrol is available at Rs.73.99 per litre, while diesel is being sold at Rs.69.62 per litre. Meanwhile, in Noida and Gurugram, petrol costs Rs.70.97 per litre and Rs.71.99 per litre, respectively, while the diesel price stands at Rs.65.06 per litre and 65.67 per litre. In Faridabad, prices of petrol and diesel are sold at Rs.72.21 per litre and Rs.65.89 per litre, respectively.

      On Wednesday, oil prices stabilised after a steep decline in earlier sessions, when markets were dragged down due to concerns about possible economic slowdown. International oil benchmark, Brent crude oil futures were trading at $61.58 per barrel, up by 0.1% from their last close. Petrol prices have declined by about Rs.12 per litre or about 15% in the last three months after oil production was increased in the global market.

      24 January 2019

    • Petrol price dropped by Rs.11 per litre in last two months

      Petrol prices per litre dropped by 11 paise per litre today in prime cities in India. Today, a litre of petrol is retailing at a price of Rs.70.20 in the national capital, Delhi; Rs.70.75 a litre in Bangalore, the capital city of Karnataka; Rs.75.80 a litre in Mumbai, the capital city of Maharashtra; Rs.68.26 a litre in Chennai, the capital city of Tamil Nadu; and Rs.66.40 a litre in Kolkata, the capital city of West Bengal. Overseas crude oil prices came back to a price mark of $60 per barrel soon after decreasing on Monday. The OPEC members have announced that will cut the extraction of crude oil by 1.2 mpd from January.

      The selling prices of both diesel and petrol are impacted the currency conversion rate and crude oil rates internationally. Fuel prices have been falling after touching a record high in October. On 4 October 2018, petrol had reached a record price of Rs.84 per litre in the national capital and Rs.91.34 a litre in the financial capital. Since 4 October, petrol rates have fallen by Rs.14.15 per litre.

      11 December 2018

    • Diesel prices downfallen by Rs.14 per litre over the last two months

      Diesel prices are reported to have fallen by 16 paise a litre across major cities in the country. Today, diesel is selling at a rate of Rs.64.66 a litre in Delhi; Rs.65 a litre in Bangalore; Rs.67.66 a litre in Mumbai, Rs.72.82 a litre in Chennai and Rs.66.40 a litre in Kolkata. Overseas crude oil prices neared a price range of $60 a barrel on Monday, 10 December 2018. The OPEC members declared to reduce the distribution cut since January 2019 by 1.2 million barrels per day.

      India is the third biggest importer of crude oil in the world. The marketing price of diesel and petrol is reliant on the exchange rate of the USD over the INR and unrefined oil prices. Fuel prices have been on a downward trend since they touched a record high price in October. Diesel rates have downfallen by Rs.11-12 a litre since 4 October.

      11 December 2018

    • Fuel Prices Decline for 4th Consecutive Week

      State-owned oil companies reduced petrol and diesel prices by 17 paise and 15 paise respectively in the back of a drop in crude oil prices. The reduction is the fourth consecutive week when fuel prices have been slashed. With the revision, the petrol price in Delhi stands at Rs.77.56 per litre, Rs.83.07 per litre in Mumbai, Rs.80.56 a litre in Chennai and Rs.79.49 per litre in Kolkata. As for diesel prices, it costs Rs.72.31 per litre in Delhi, Rs.75.76 a litre in Mumbai, Rs.76.43 per litre in Chennai and Rs.74.17 a litre in Kolkata. In the last 30 days, fuel prices have been slashed by almost 10%. The decline in petrol and diesel prices comes amid the drop in crude oil prices in the global market. Brent crude futures, a benchmark for oil prices, were trading at $71.59 per barrel compared to $80 on 4 October 2018 when fuel prices touched record levels in the country.

      14 November 2018

    • Petrol Prices Slashed Again in Delhi and Mumbai

      The petrol prices received cut for the eight consecutive day on Thursday. In Delhi and Mumbai, the price of petrol were cut by 15 paise to Rs.81.10 and Rs.86.58 respectively. Prior to the cut, the petrol prices for Delhi and Mumbai were Rs.81.25 and Rs.86.73 respectively. In the last 8 days, petrol prices have seen a significant reduction of Rs.1.73 in Delhi and Rs.1.71 in Mumbai. The fuel was getting more expensive in Delhi than Haryana and Uttar Pradesh because the government was not ready to reduce VAT on fuel both petrol and diesel. The decline in the prices of petrol will provide a much needed relief to the consumers in Delhi and Mumbai who have been paying more money for the rising petrol prices since mid-August.

      26 October 2018

    • Petrol Prices Hiked for the Tenth Consecutive Day

      Oil Marketing Companies (OMCs) continued to hike petrol prices for the tenth consecutive day in the country. In Delhi, petrol prices were increased by 16 paise on Tuesday which resulted in every litre costing Rs.79.34. It needs to be mentioned that the price of petrol in the national capital is the cheapest among all the metros and most state capitals due to lower sales tax or VAT.

      The surge in the price of petrol recently has been accounted to the rise in crude oil prices and high rate of excise duty. Apart from that, the slump in rupee has also played a part in the rising fuel prices. It is noteworthy to mention here that since August 16, petrol prices have seen a hike of Rs.2 per litre. Apart from petrol, the prices of compressed natural gas (CNG), non-subsidized LPG gas and piped natural gas (PNG) have also been on the upward curve of late.

      11 September 2018

    • Petrol Rates Today across Indian Cities

      After increasing the petrol rate for three days, fuel marketing companies unchanged the petrol rate on Sunday. Petrol rates were retained unchanged at Rs.76.95 a litre in Delhi, Rs.84.33 a litre in Mumbai, Rs.79.61 a litre in Kolkata and Rs.79.87 a litre in Chennai respectively. Petrol prices were also not changed in state capitals. Currently, Indian fuel companies such as Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have been following the system of dynamic fuel pricing in order to revise fuel rates in India.

      Dynamic fuel pricing is also called as the daily revision system. The exchange rate and crude oil costs are considered to reset the fuel price and the revised fuel price is announced at 6:00 a.m. at all the fuel stations in the country. On 30th May, the price of petrol has reached an all-time at Rs.78.43 a litre. On Friday, crude oil rates were increased by 1% since the strike actions in Iraq and Norway have hit the supplies.

      16 July 2018

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