Petrol Price In Thane Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 79.03
    Current Petrol Price Per Litre
    Compare Petrol Price in Thane (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 79.03 ₹ 79.03 ₹ 0 ↑
    Petrol Price in Thane - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 79.03
    20 Oct 2019 ₹ 79.03
    19 Oct 2019 ₹ 79.03
    18 Oct 2019 ₹ 79.03
    17 Oct 2019 ₹ 79.03
    16 Oct 2019 ₹ 79.03
    15 Oct 2019 ₹ 79.03
    14 Oct 2019 ₹ 79.08
    13 Oct 2019 ₹ 79.08
    12 Oct 2019 ₹ 79.08

    Petrol Rate Trend

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    Petrol Price in Thane:

    Petrol price in Thane, which is on 5 April 2018, is Rs.81.95 per litre. The price was up by 3 paise compared to the previous day’s price. It majorly comprises the excise duty, which is Rs.19.48 per litre on petrol, and the Value-added Tax, which is charged at 39.95% in Thane.

    This page has been instrumental for petrol buyers in Thane, a renowned city in Maharashtra. It is a single source of information, which is sourced from authenticated websites and reports. The page speaks about the primary concerns related to the petroleum industry. Let’s first understand the current and projected trends in petrol prices in Thane.

    Petrol Prices in Thane Over the Last Three Months:

    The opening date price was Rs.78.02 per litre and the closing date price was Rs.80.84 per litre in January 2018. During the entire month, the fuel price was up by 2.82%. By the end of February 2018, it dropped to Rs.79.45 a litre. On 7 February 2018, at Rs.81.30 per litre, the highest fuel rate was registered. At Rs.79.45 per litre, the lowest price was logged on 28 February 2018. In March 2018, the opening date price was Rs.79.58 per litre whereas the closing date price was Rs.81.30 per litre. The first 3 months in 2018 witnessed a 1.72% rise in petrol rates in Thane.

    Also Know: Diesel Price In Thane

    Tax on Petrol in Thane Over the last Three Years:

    November 2014 August 2017 February 2018
    Central duty on petrol Rs.9.20 a litre Rs.21.48 a litre Rs.19.48 a litre

    A System for Fuel Revision in Thane

    Fuel rates in Thane are priced and reset according to the dynamic fuel pricing scheme currently. It is just a 9-month-old concept in India. Even advanced markets began using the same concept. Technically, dynamic fuel pricing, sometimes referred to as the daily revision system, provides a complete and transparent platform for oil companies to revise fuel rates regularly considering the rupee-dollar conversion rate and international unrefined oil prices. Every day, the updated fuel rate has to be declared at 06:00 a.m. Petrol customers from the city can envision either a price hike or a price drop. Sometimes, the price may remain unaffected.

    Impact of Dynamic Fuel Pricing on the Oil and Natural Gas Industry

    The daily revision system does not impact negatively the stakeholders of the oil and natural segment in India. The industry participants including customers, oil marketing companies (OMCs) and dealers will benefit from this system to a greater extent. The system offers an opportunity for OMCs to book a decent amount of profit by reducing day-to-day expenses. Under no circumstances, petrol buyers in the city will face the issues related to stock. It also eases the process of fuel pricing and makes it fully translucent. The system also enables the OMCs to decrease the amount of time demanded to manage routine business activities.

    Tips to Extract Today’s Petrol Price in Thane

    • Tip 1: Extract the latest petrol rate in Thane using mobile apps. This option is easy. You must have a smartphone so that you can download mobile apps, which include My HPCL, SmartDrive and Fuel@IOC. All these apps are user-friendly and have unique characteristics. They are used to extract information related to general insurance offers, which may be four-wheeler insurance schemes or two-wheeler insurance schemes.
    • Tip 2: If you are not a smartphone user, consider tracing the current fuel price in Thane via SMS services, which are provided by all the 3 OMCs. For BPCL price, send an SMS request to 922231122. For HPCL price, send an SMS request to 9222201122 and for IOC price, send an SMS request to 9224992249.
    • Tip 3: HPCL, IOCL and BPCL will load the revised petrol rate onto their official websites regularly. Consider visiting either www.iocl.com, the website of Indian Oil; or www.hindustanpetroleum.com, the official website of Hindustan Petroleum; or www.bharatpetroleum.com, the website of Bharat Petroleum.

    Process of Computing Petrol Price in Thane:

    The market price of petrol will be assessed by OMCs. It will change from city to city and state to state because of the dealer’s commission and the VAT. Firstly, OMCs require crude oil to fabricate either petrol or diesel. Oil is to a larger extent imported from OPEC countries by paying the price, which is in US dollars. Let’s presume the market value of a barrel of unrefined oil is $68 and the USD/INR exchange ratio Rs.65. Now, the cost of crude oil will be Rs.4420 per barrel. Per litre cost will be Rs.27.70.

    OMCs spend a host of expenditures to turn raw oil into petrol. The prime expenses include the RTP, which stands for the Refinery Transfer Price, landing and day-to-day expenses. Per litre, the expenditures incurred by OMCs have been estimated to be Rs.8.20, which is added to the cost of crude oil per litre. The price, which is charged to local petrol suppliers in Thane, comes with the excise duty of Rs.19.48 per litre. The dealer’s commission and the VAT are further included.

    Put simply, petrol price in Thane = taxes + commission collected by fuel stations + cost of unrefined oil + pollution cess + expense spent by OMCs

    Factors Affecting Petrol Price in Thane:

    What will happen if the Central Government decreases or increases the excise duty on petrol? The current fuel rate in the city will fall when the excise duty is reduced by the Central Government and vice versa. What will happen if the oil-exporting countries declare a production cut? The crude oil cost will go up in international markets. This is how the fuel rates in national markets are impacted. What will happen if the INR weakens consistently against the greenback? Crude oil expenses are anticipated to grow. In the end, the fuel price in local markets increase.

    GST vs Current Fuel Rates in Thane:

    Arun Jaitley recently said that his government is planning to include petrol under the GST realm. Shushil Modi, Finance Minister in Bihar and GST Committee Member, even voiced his support for bringing petroleum products under the current tax structure. The public will be happy if the government introduces such a rule since the fuel rates will fall significantly. If the GST is implemented on petrol, the present taxes such as the VAT and the excise duty get detached. Thus, the tax load is lessened at least by 23-35%.

    Tax on Petrol in the pre-GST era in Thane

    Taxes Rate per litre
    Central tax Rs.19.48
    VAT @39.95%
    Commission paid to dealers Rs.3.59 per litre

    Bringing petrol under the realm of the GST system will reduce the petrol price in Thane by at least 35-36% according to market analysts. Will the government do it? It will be a tough decision unquestionably. The Central Government does not want to incur losses and so does with the state governments. It can consider changing the tax structure completely in a style that does not harm their revenues.

    Also Check Petrol Price in NearBy Cities of Thane

    Petrol Price In Mumbai Petrol Price In Nanded Petrol Price In Nashik Petrol Price In Solapur
    Petrol Price In Nagpur Petrol Price In Amravati Petrol Price In Sangli Petrol Price In Jalgaon
    Also Check: Petrol Price in Pune

    *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 Thane Today

    • Petrol prices cut by 8-9 paise across major cities

      Oil Marketing Companies (OMCs) on Tuesday cut the rates of petrol in the country. Every litre of petrol became cheaper by 8-9 paise following the price revision on Tuesday. In the national capital, every litre of petrol was sold for Rs.71.19 while in Mumbai, the financial capital of the country consumers had to pay Rs.76.82. In the other two metro cities of the country i.e., Kolkata and Chennai, OMCs charged consumers Rs.73.28 and Rs.73.90 for one litre of petrol.  

      On the global front, crude oil prices jumped on Tuesday. Brent crude oil futures were trading at 60.08 dollars per barrel. The jump recorded since the last close was 15 cents or 0.3 per cent. The hike in the prices of international crude oil was accounted to the decision of the Trump administration to impose curbs on Venezuela's state-owned oil company PdVSA in order to limit its crude exports to the United States. 

      It needs to be mentioned here that the rates of petrol in India witnessed a sharp rise in the months of August and September. The increase in the prices saw the rates reach unprecedented heights with a litre of petrol costing Rs.84 in Delhi and Rs.91 in Mumbai.

      30 January 2019

    • Diesel and petrol rates remained unrevised, 19 December 24, 2018

       Both diesel and petrol prices remained unrevised on Wednesday, 19 December 2018. Petrol retailed at a price of Rs.70.63 a litre and diesel at a price of Rs.64.54 a litre in the capital city of India. In Mumbai, petrol price stood at Rs.76.25 per litre and diesel price at Rs.67.55 a litre. While petrol rates stood at Rs.73.29 a litre and Rs.72.71 a litre in Chennai and Kolkata, diesel prices stood at Rs.68.14 a litre and Rs.66.30 a litre in Chennai and Kolkata respectively.

      At the fuel stations in Gurugram, petrol price was Rs.71.48 a litre and diesel price was Rs.64.49 a litre respectively. Petrol was retailing at a rate of Rs.70.45 per litre in Noida and Rs.71.69 a litre in Faridabad respectively. The price of diesel stood at Rs.63.88 a litre in Noida and Rs.64.71 a litre in Faridabad. Over the previous few days, the value of the domestic currency against the overseas currency has depreciated by 3%. Since October 2018, the value of unrefined oil has decreased by 30%. So, fuel prices have fallen by 2-month low. Both crude oil prices per barrel and the exchange rate have a direct impact on the price revision of diesel and petrol.

      26 December 2018

    • After a Continuous Decline, Fuel Prices Come to a Halt

      After a continuous reduction, the prices of fuel have finally halted on Wednesday. In New Delhi, petrol is being retailed at Rs.78.42 per litre and diesel is being retailed at Rs.73.07 per litre. The price of per litre of petrol in Mumbai, Kolkata, and Chennai are Rs.83.92, Rs.80.33, and Rs.81.46 respectively. The price of per litre of diesel in Delhi, Mumbai, Kolkata, and Chennai is Rs.73.07, Rs.76.57, Rs.74.93, and Rs.77.24 respectively.

      The revised prices are a result of the reduction in the price of petrol by over Rs.4.37 per litre. Similarly, the price of diesel has been reduced by Rs..2.78 in the past 21 days in Mumbai. This price reduction took place after the skyrocketing price of petrol and diesel in the last few months.

      As fuel is excluded from GST, its price varies across the nation. Among the four major metro cities, Delhi enjoys the lowest tax rate. Under the current pricing regime of petrol and diesel, other than the value of the rupee, their domestic prices vary on a 15-day average depending on their international prices.

      9 November 2018

    • Check Petrol Prices Today

      Fuel prices are on the rise once again across the cities. Today, petrol prices were up by 10 paise per litre to Rs.82.36 in Delhi; 8 paise per litre to Rs.87.82 in Mumbai; 10 paise per litre to Rs.84.19 in Kolkata and 11 paise per litre to Rs.85.61 in Chennai. On Thursday also, petrol rates raised to Rs.82.26 a litre in Delhi, Rs.87.82 a litre in Mumbai, Rs.85.61 a litre in Chennai and Rs.84.19 a litre in Kolkata according to Indian Oil Marketing.

      The cabinet of Meghalaya has reduced diesel and petrol prices by Rs.2.5 a litre. The state is likely to incur a loss of 15 crore yearly. The BJP government declined the excise duty by Rs.2.5 a litre in the first week of October 2018 and also asked the 11 BJP-ruled states to decline fuel prices by Rs.2.5 a litre. The total reduction in the fuel prices was Rs.5 per litre. While Brent crude futures increased by 13 cents to $80.39 a barrel, the contract dropped by 3.4% on Thursday.

      15 October 2018

    • Petrol Prices in Chandigarh Closing in on Breaching Rs.80 Mark

      As petrol prices continue to rise in the country, the rates that consumers need to pay for purchasing a litre of petrol in Chandigarh is closing in on the Rs.80 mark. As of Friday, every litre of petrol costs a record Rs.79.16, just 0.84 paise short of the Rs.80 mark. In the last five months or so, the rates have seen an increase of around Rs.8 per litre. In Panchkula and Mohali, the current rates for petrol are Rs.82.61 and Rs.88.36 for every litre. The rates of petrol in Panchkula and Mohali are at their highest level till date. It needs to be mentioned here that the prices of petrol in Chandigarh has seen a massive hike of Rs.29 per litre at a rate of 17.79% since December 2015. In December 2015, the rate for one litre of petrol was Rs.61.37 which climbed to Rs.66.56 by December the corresponding year.

      24 September 2018

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