Petrol Price in Uttarakhand
Uttarakhand is the 27th state of India with 13 districts. The primary intent of this page is to offer you a few useful insights into petrol prices in Uttarakhand in addition to the latest changes in the fuel retailing sector. The page emphasises on the petrol prices in Dehradun, Rishikesh and Haridwar to make a unified study of the state. Petrol traded at an average price of Rs.75.00 per litre during the first two months of 2018 in Uttarakhand. The central levy of Rs.17.48 per litre and the Value-added Tax of Rs.15.54 per litre are included in the price.
Analysis of Petrol Price in Uttarakhand
The fuel was priced at Rs.72.67 per litre on 1 January 2018 and was revised to Rs.74.99 per litre on the closing day of the month. It traded at the highest price of Rs.74.99 and at the lowest price of Rs.72.67 per litre. In December 2017, the highest and lowest prices of the fuel were Rs.72.67 per litre and Rs.71.96 per litre correspondingly. The month produced a hike of 0.81%. On 1 November 2017, the petrol rate stood at Rs.72.02 per litre and at Rs.72.10 per litre on the last day of the month.
Petrol prices in Uttarakhand slashed by 1.78% in October 2017. They were at Rs.73.28 per litre and at Rs.72.00 per litre on 1 and 30 October 2017. The lowest and highest prices were Rs.71.32 per litre and Rs.73.38 per litre respectively in the month. In September 2017, fuel prices were up by 0.67%. On 3 September 2017, the fuel retailed at the highest price of Rs.73.64 per litre while the lowest price of Rs.72.72 per litre was recorded on 1 September 2018.
Quarterly Petrol Price Trend in Uttarakhand Between October and December 2018
|Opening date price||Rs.82.29 a litre||Rs.76.33 a litre||Rs.70.98 a litre|
|Closing date price||Rs.76.47 a litre||Rs.71.26 a litre||Rs.68.02 a litre|
|Highest price||Rs.82.49 a litre booked on the 4 October 2018||Rs.76.33 a litre booked on the 1 November 2018||Rs.70.98 a litre booked on the 1 December 2018|
|Lowest Price||Rs.76.47 a litre booked on 30 and 31 October 2018||Rs.71.26 a litre booked on the 30 November 2018||Rs.68.02 a litre booked on the 31 December 2018|
Petrol Price Trend in Uttarakhand Between October and December 2018
- Petrol was priced Rs.82.29 per litre in Uttarakhand on 1 October in accordance with the daily revision of fuel prices in the country.
- State-run Oil Marketing Companies (OMCs) fix the final selling price of petrol and diesel by considering the 14-day average price of crude oil in the global market as well as the rupee-dollar exchange rate.
- Crude oil was trading around $80 per barrel, a four-year high influenced by the trade war between the US and China as well as due to a shortage in supply of oil from Iran.
- Petrol prices in Uttarakhand rose to touch the highest for the month at Rs.82.49 per litre on 4 October, prompting the Centre to announce a cut in the excise duty levied on the sale of fuel.
- While excise duty of Rs.1.50 per litre was cut, the Centre asked OMCs to further subsidise Rs.1 per litre.
- By the end of October, prices had declined by 7.08% attributed to the cut in excise duty along with a marginal decline in oil prices in the international market.
- On 1 November, petrol was priced at Rs.76.33 per litre – the highest price recorded for the month.
- With the US pulling out of the Iran Nuclear Deal, Iran cut the supply of oil in the market, leading to a spike in rates of fuel across the globe.
- Other oil producing countries increased the supply which prompted oil prices to slightly drop towards the end of the month.
- By the end of the month, petrol rates in Uttarakhand declined by 6.65% influenced by the significant fall in crude oil prices.
- The petrol price in Uttarakhand on 1 December stood at Rs.70.98 per litre, the highest recorded price of the month.
- Crude oil prices declined to trade around $56 per barrel as against $80 per barrel early October which led to a drop in petrol and diesel prices in the country.
- In December, Petrol rates in Uttarakhand fell by 4.17% on the back of the decline in crude oil prices coupled with a marginal appreciation of the rupee over the US dollar.
Quarterly Petrol Price Trend in Uttarakhand between July and September 2018
|Opening date price||Rs.77.07 a litre||Rs.77.74 a litre||Rs.79.53 a litre|
|Closing date price||Rs.77.77 a litre||Rs.79.53 a litre||Rs.83.25 a litre|
|Highest price||Rs.78.18 a litre recorded on the 18th||Rs.79.53 a litre recorded on the 31st||Rs.83.25 a litre recorded on the 28th, 29th and 30th|
|Lowest Price||Rs.77.07 a litre recorded on the 1st||Rs.77.74 a litre recorded on the 1st||Rs.79.53 a litre recorded on the 1st|
Petrol Price Trend in Uttarakhand in July 2018
- Petrol and diesel rates in India are fixed by State-run Oil Marketing Companies (OMCs) on a daily basis under the dynamic fuel pricing mechanism.
- The selling price of petrol is based on the global crude oil price and the rupee-dollar exchange rate.
- Any fluctuations in these two factors lead to a change in petrol prices across cities in the country.
- Based on this pricing mechanism, the petrol price in Dehradun, the capital city of Uttarakhand, on the 1st of July stood at Rs.77.07 per litre - the lowest petrol price recorded in the state for the month.
- Prices rose over the course of the first and second weeks due to the marginal increase in crude oil prices in the market.
- On the 18th, petrol prices in Uttarakhand touched the highest price when a litre of petrol was sold at Rs.78.18 due to the increase in oil prices.
- Prices declined in the third and fourth weeks as oil prices declined; however, the price did not breach the opening price of the month.
- The closing date price for the month stood at Rs.77.77 per litre, an increase of 70 paise per litre over the opening price.
- The petrol price trend in Uttarakhand in July grew by 0.91% primarily due to the slight increase in crude oil prices.
Petrol Price Trend in Uttarakhand in August 2018
- On the 1st of August, the petrol price in Uttarakhand stood at Rs.77.74 per litre, an reduction of 3 paise over the previous day. This was also the lowest rate registered during the month.
- Over the course of the first and second weeks, prices continued to increase due to the incline in crude oil prices in the market.
- The increase in crude oil prices was attributed to geopolitical tensions between the U.S. and Iran after the former pulled out of the nuclear deal between the two nations.
- Due to a shortage in the supply of oil in the market, petrol and diesel prices continued to soar across the globe.
- Prices moved upwards in the third and fourth weeks as well as there was no let up in the incline of oil prices.
- Some states in the country announced a reduction in the local sales tax or VAT to offer some relief to consumers.
- By the end of the month, the petrol price in Uttarakhand stood at Rs.79.53 per litre registering the highest price for the month.
- Overall, petrol prices in Uttarakhand during the month increased by 2.30% mainly due to the increase in oil prices in the market.
Petrol Price Trend in Uttarakhand in September 2018
- The petrol price in Uttarakhand on the 1st of September stood at Rs.79.53 per litre which was also the lowest price recorded during the month.
- The crude oil price in the market inclined significantly to touch a four-year high of $80 per barrel prompting oil companies to hike fuel prices in the country.
- The increase in oil prices was again attributed to geopolitical tensions between the U.S. and Iran as the former was readying sanctions on Iran.
- Additionally, the rupee depreciated to a record low of Rs.72 over the U.S. dollar which influenced the steep rise in petrol prices in the country.
- Certain states such as Rajasthan, Karnataka, West Bengal and Andhra Pradesh announced a reduction in local sales tax or VAT offering some respite to customers of those states.
- On the 28th, petrol prices increased to touch the highest price of Rs.83.25 per litre and was kept unchanged until the end of the month.
- Overall, the petrol price trend in Uttarakhand in September inclined sharply by 4.68% attributed to the increase in crude oil price and the rupee-dollar exchange rate.
How is the Petrol Rate in Uttarakhand reviewed?
Before 16 June 2017
Fuel prices in Uttarakhand used to be reviewed twice a fortnight before 16 June 2017. The first revision used to befall on 1 of every of month and the second revision used to befall on 16 of every month. The fortnightly-based fuel revision mechanism was used by Indian Oil Company Limited, Bharat Petroleum Company Limited, Hindustan Petroleum Company Limited and Shell Oil Company Limited for the last 15 years.
After 16 June 2017
The Indian oil marketing corporations had adopted dynamic fuel pricing, a new system for fuel pricing, on 16 June last year. Unlike earlier, the revision of fuel prices is carried out everyday at 06:00 a.m. Transnational crude oil prices and the USD/INR conversion rate form the basis for revising the petrol price in all regions of India, including Uttarakhand. The new fuel pricing system has been successful in India like other countries such as the United States of America, Japan, Russia and Australia.
The first 15 days of dynamic fuel pricing observed a fall in petrol prices in Uttarakhand. After that, they slowly began increasing. Over the last 5 months, they are on the rise. To reduce steadily growing petrol prices, the central excise duty of Rs.2 per litre was cut on 3 October 2017 and 1 February 2018 respectively. The Government of Uttarakhand has not lessened the VAT on petrol through the Central Government had urged it to do so.
Quarterly Price Price Trend in Uttarakhand between April and June 2018
|Opening date price||Rs.75.62 a litre||Rs.76.33 a litre||Rs.79.26 a litre|
|Closing date price||Rs.76.33 a litre||Rs.79.30 a litre||Rs.77.07 a litre|
|Highest price||Rs.76.36 a litre recorded on the 24th||Rs.79.37 a litre recorded on the 29th||Rs.79.26 a litre recorded on the 1st|
|Lowest price||Rs.75.62 a litre recorded on the 1st||Rs.76.33 a litre recorded on the 1st||Rs.77.07 a litre recorded on the 27th|
Petrol Price Trend in Uttarakhand in April 2018
- Fuel companies in India have presently been using the mechanism of dynamic fuel pricing to reset the price of petrol per litre across the country.
- The revision of fuel prices shall be done on a daily basis considering the INR/USD exchange rate and the price of crude oil.
- Under this system, petrol rates in Uttarakhand were revised throughout the month of April 2018 and trends were defined.
- For the first days of the month, the average petrol price per litre was Rs.75.77 in Dehradun, the capital city of Uttarakhand.
- According to Indian Oil, the average petrol rate per litre increased gradually for the second and third weeks of April 2018.
- Petrol rates in all parts of Uttarakhand were neither increased nor decreased. In Dehradun, they were steady at Rs.76.33 a litre during the last week.
- For April 2018, the highest petrol price stood at Rs.76.36 a litre, while the lowest petrol rate stood at Rs.75.62 a litre in the capital city of Uttarakhand.
- Because of the slow-moving crude oil market, the growth rate in petrol rates in all the cities of Uttarakhand was less than 1%.
- In April 2018, the closing date price was up 0.93% to Rs.76.33 a litre in Dehradun, the prime and capital city of Uttarakhand.
Petrol Price Trend in Uttarakhand in May 2018
- The Karnataka state assembly election was held on 12 May 2018. Therefore, neither diesel rates nor petrol rates across the country were increased by the BJP-led government.
- In Uttarakhand, on 01 May 2018, petrol was valued at Rs.76.33 a litre. Until the 11th, the fuel was sold at the same price.
- After the assembly election in Karnataka, fuel enterprises continued increasing the fuel rate in correlation with the exchange rate and the market price of unrefined oil.
- On the 14th, the fuel rate in the state’s capital city was Rs.76.51 a litre. It increased by Rs.1.39 a litre on the 21st and Rs.1.34 a litre on the 28th.
- For May 2018, the lowest fuel rate was observed at Rs.76.33 a litre in Dehradun. It was also the lowest fuel price for the month. On the 29th, the highest fuel rate was noted at Rs.79.37 a litre.
- The Indian currency, the INR, slid against the currency of the USA, the USD, by 0.89%. The crude oil cost per barrel increased by 8.67% this month.
- Triggered by these two overseas influencers, petrol rates not only in Dehradun but also in Haridwar, Roorkee, Rudrapur, Kashipur and Rishikesh were increased by 3.89% in the month of May 2018.
Petrol Price Trend in Uttarakhand in June 2018
- The opening date price was down by 4 paise per litre in Uttarakhand. Fuel rates continued to fall in tandem with crude oil costs.
- On 01 June 2018, the Indian Basket crude oil price was $75.02 per barrel. Over the next seven days, it further fell to 74.89 per barrel. Therefore, fuel corporations reduced the fuel rate per litre to Rs.78.74 on the 7th.
- Similarly, petrol rates in Uttarakhand were gradually reduced by Indian Oil, Bharat Petroleum and Hindustan Petroleum during the second, third and fourth weeks of June 2018.
- Due to the downward trend, the highest petrol rate was observed at Rs.79.26 a litre at the beginning of the month whereas the lowest petrol price was observed at Rs.77.07 a litre on the 27th.
- In June 2018, the average crude oil rate per barrel dropped by 2.34%. As a result, fuel companies reduced the fuel rate per litre by 2.34% in Dehradun. Fuel rates were also down in other cities in Uttarakhand.
- It should be noted that domestic factors such as excise duty and Value-added Tax (VAT) had no influence on the pricing of petrol between April 2018 and June 2018.
Trend in Petrol Price in Uttarakhand between January and March 2018
|Opening date price||Rs.72.67 a litre||Rs.75.07 a litre||Rs.73.97 a litre|
|Closing date price||Rs.74.99 a litre||Rs.73.86 a litre||Rs.75.48 a litre|
|Highest price||Rs.74.99 a litre recorded on 31st||Rs.75.33 a litre recorded on 6th and 7th||Rs.75.48 a litre recorded on 31st|
|Lowest price||Rs.72.67 a litre recorded on 1st||Rs.73.86 a litre recorded on 28th||Rs.73.97 a litre recorded on 1st|
Trend in Petrol Price in Uttarakhand in January 2018
- Fuel companies have released a price offer of Rs.72.67 a litre on 1st, which includes various cost elements.
- Central and state taxes form a major cost element. It has been estimated that more than 45% of the Retail Selling Price (RSP) will go towards taxes.
- Petrol prices in Uttarakhand will be affected by both domestic and overseas cost factors. Domestic factors include the dealer’s commission, the Value-added Tax, the excise duty, etc.
- Overseas factors include crude oil overheads, climate conditions, political trends, demand and supply, etc.
- In this month, in India, no changes have been observed in the domestic cost centers. On the other hand, international forces have been changed.
- To make it clear, the USD, the base currency, has fallen to Rs.63.56 from Rs.63.70 this month. Also, the crude oil cost has reached a price mark of $67 per barrel.
- As a result, petrol rates have increased by 3.19% this month.
Trend in Petrol Price in Uttarakhand in February 2018
- Fuel prices were not steady in this month. They have exhibited an upward trend and a downward trend during the month in tandem with overseas aspects.
- The opening date price stood at Rs.75.07 a litre. At the end of the week 1, the fuel rate has climbed to Rs.75.33 a litre.
- At the end of the week three, petrol rates across the state climbed to Rs.74.03 a litre. They slid marginally during the last week.
- A mixed reaction has been prompted by the USD/INR exchange rate, which increased 1.98% to Rs.65.22; and crude oil costs, which reduced to $61 per barrel.
- The budget was released this month. Finance Minister, Arun Jaitley, made some changes in the excise duty.
- Irrespective of a noticeable variation, petrol rates have not been affected. Hindustan Petroleum, Bharat Petroleum and Indian Oil extended offering the fuel price according to dynamic fuel pricing.
Trend in Petrol Prices in March 2018 in Uttarakhand
- Between January 2018 and March 2018, in Uttarakhand, the excise duty on petrol remained constant at Rs.19.48 a litre and the Value-added Tax was 29%.
- The expenses, which are incurred by Oil Marketing Companies, were also retained unmodified at Rs.8 a litre. The commission charged by fuel suppliers and pollution cess were Rs.3.59 a litre and 25p respectively.
- In March 2018, the USD/INR exchange rate was down 0.16% to Rs.65.13. Similarly, crude oil costs were reasonably up in the entire quarter. As a result, this quarter has seen a price rise of 2.49%.
- Hindustan Petroleum, Bharat Petroleum and Indian Oil declared the highest and lowest rates to be Rs.75.48 a litre and Rs.73.97 a litre respectively.
- In January 2018 and March 2018, petrol rates have increased, the percentage of growth rate in March compared to that of in January.
Salient features of Dynamic Fuel Pricing
- It lets fuel consumers pay the market-determined price with no provisions for political influences.
- The system helps oil marketing companies (OMCs) to lessen the time and capital required to revise fuel prices.
- Fuel customers are assured of the consistent supply of petrol.
- 100% transparency in fuel pricing
What is the Petrol Price in Uttarakhand today and how do I get it?
Obtain the current petrol price in Uttarakhand using the mobile applications crafted by all OMCs. It is the best option for smartphone users. OMCs also offer customer care services and SMS alert services for the people who do not use smartphones. The latest petrol rate in Uttarakhand can also be obtained online as many online portals post the revised petrol on a daily basis.
Assessment of the Petrol Price in Uttarakhand
|Cost Elements||Cost Price|
|The cost price of 1 barrel (159 litres) of global unrefined oil, including freight||$66 (Rs.4,225 per barrel)|
|A litre of crude oil costs (A)||Rs.26.40 per litre|
|OMC expenses (RTP, entry levies, administration overheads, landing expenses (B)||Rs.8.20 per litre (Approximately)|
|Excise duty plus road cess imposed by the Government of India (C)||Rs.19.48 per litre|
|Commission charged by dealers on petrol (D)||Rs.3.59 per litre|
|Value-added Tax levied by the Government of Uttarakhand is 33.25% on petrol plus 25p pollution cess (E)||Rs.19.40 per litre|
|Retail selling price of petrol in Uttarakhand A+B+C+D+E||Rs.75.00 per litre (approximately)|
Petrol Price in Uttarakhand vs Union Budget 2018
The BJP-led government presented the Union Budget for the current financial year on 1 February 2018. The people had expected it would lower the petrol rate in Uttarakhand by declining central levies. It was proposed to implement a further road cess of Rs.8 per litre on petrol to compensate a cut of Rs.2 in the excise duty per litre and a cut of Rs.6 in custom duties on petrol per litre. Finally, fuel prices continued retailing at the earlier rates.
Fuel Rates in Uttarakhand vs INR/USD Rate
The country has a huge demand for crude oil that shall be imported on a contractual basis from OPEC countries. In 2017, the demand crude oil had increased by 4.5%. This will push the cost price of crude oil that has been currently vending at $66 per barrel. The conversion rate of the domestic currency of India against the currency of the UAD has a huge impact on the prices on unrefined oil, which will increase if the INR falls against the USD and will decrease if the INR appreciates against the USD.
Today Petrol Price in Uttarakhand vs GST
The Goods and Services Tax has been levied at 28%, 12%, 18% and 5% all goods and services except petrol and the products of petrol. So, the GST leaves no effect on fuel rates in Uttarakhand.
*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.