Petrol Price In Varanasi Today

  • Today's Petrol Price ( 18 Apr 2019 )
    ₹ 72.67
    Current Petrol Price Per Litre
    Compare Petrol Price in Varanasi (Today & Yesterday)
    Today
    (18 Apr 2019)
    Yesterday
    (17 Apr 2019)
    Rate Change
    Petrol ( / litre) ₹ 72.67 ₹ 72.67 ₹ 0 ↑
    Petrol Price in Varanasi - Last 10 Days Data
    Date Petrol ( / litre)
    18 Apr 2019 ₹ 72.67
    17 Apr 2019 ₹ 72.67
    16 Apr 2019 ₹ 72.67
    15 Apr 2019 ₹ 72.71
    14 Apr 2019 ₹ 72.62
    13 Apr 2019 ₹ 72.62
    12 Apr 2019 ₹ 72.62
    11 Apr 2019 ₹ 72.57
    10 Apr 2019 ₹ 72.57
    09 Apr 2019 ₹ 72.57

    Petrol Rate Trend

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    Petrol Price in Varanasi

    Are you a petrol user from the city of Varanasi? If yes, have you noticed the latest updates with regard to fuel prices? In India, the fuel retailing sector has witnessed several changes, including the introduction of dynamic fuel pricing system last year. What is that? It is a fuel revision method currently used by Indian Oil Marketing companies to fix the price of petrol in Varanasi. Fuel prices have to be revised every day. Once revised at 06:00 a.m., the latest fuel prices in Varanasi should be released.

    Features of the newly introduced Fuel Pricing Mechanism

    • You will get a new price for petrol each day in Varanasi. The fuel is priced on the basis of the currency exchange ratio. The price of crude oil is also taken into account.
    • The updated petrol prices are uploaded onto the websites of oil marketing companies, which include Shell Oil, Indian Oil, Bharat Petroleum and Hindustan Petroleum.
    • There are two types of fuel retailers in India: automated and non-automated. Under the new fuel revision methodology, the petrol price in Varanasi is automatically revised by automated fuel stations. Non-automated petrol stations shall manually revise the petrol rate in the city.
    • No government forces can influence the fuel pricing in Varanasi. In other words, dynamic fuel pricing assures 100% transparency in the fuel price revision.
    • Maintaining stocks is not a complicated task for oil marketing agencies, which can also keep a track on working capital.
    • Fuel buyers shall be interlinked to real-time market conditions and performances.

    Tips for obtaining the Petrol Price in Varanasi

    Today’s petrol price in Varanasi can be obtained online or through downloading mobile applications. Indian Oil, Bharat Petroleum and Hindustan Petroleum will offer tailor-made mobile applications. If you use a smartphone, tracing the current petrol price in Varanasi will be easier. If you are willing to download the mobile application of Indian Oil, Fuel@IOC is the mobile application’s name. If you are willing to download the mobile application of Bharat Petroleum, the name of the mobile application is SmartDrive. If you are willing to download the mobile application of Hindustan Petroleum, the mobile application’s name is My HPCL.

    Oil marketing entities will also provide SMS services. You just have to send an SMS request. Type RSP and send the dealer code to 9224992249. This is the number provided by Indian Oil. The number provided by Hindustan Petroleum is 9222201122. You just have to type RSP and send the dealer code to the number. Similarly, type RSP and send the dealer code to 9223112222. This is the number offered by Bharat Petroleum. This is how you can get the current petrol price in Varanasi.

    Petrol Price in Varanasi

    As of 27 February 2018, the petrol price in Varanasi was Rs.73.51 per litre. This includes an excise duty of Rs.19.48 per litre. The fuel was sold at a price of Rs.69.46 per litre on the first day of April 2017. It sold at Rs.70.87 per litre on the first day of May 2017. On the opening day of June 2017, the price of the fuel fell to Rs.69.99 per litre. In July 2017, the fuel was priced at Rs.66.65 per litre. On the opening day of August 2017, the price of the fuel was Rs.68.75 per litre. In November and December 2017, the average price of petrol in Varanasi was Rs.71.71 per litre.

    A comparison of Value-added Tax (VAT) among Indian states

    Petroleum Planning and Analysis Cell has released the data related to Value-added Tax in various Indian states on 4 October 2017. In Uttar Pradesh, the VAT on petrol was 32.90%. In Karnataka, it was 30%. Similarly, the VAT on petrol was 28.96% in Gujarat whereas in Haryana it was 26.25%. The higher the VAT, the higher will the petrol price. The lower the VAT, the lower will the petrol price. Since the VAT rate in Maharashtra is comparatively high, petrol is expensive in Maharashtra.

    Why have Petrol Prices in Varanasi increased over the last one year?

    Petrol prices in Varanasi have increased since the price of crude oil has increased from $45 per barrel to $63 per barrel. Retail fuel stations have also increased their commission by Rs.1 per litre on petrol. Besides, the profit margin of oil marketing companies (OMCs) has been increased. Because of these reasons, the fuel rates in Varanasi have accelerated.

    How is the current petrol price computed?

    The following cost elements are added to arrive at the Retail Selling Price of petrol in Varanasi:

    • Cost of Crude Oil: As of 3 February 2018, the cost of crude oil per barrel was Rs.26.42 per litre.
    • OMC costs: The expenses, which are incurred by oil marketing companies, are estimated to be Rs.8.10 per litre. These include refinery processing charges, entry levies, operational overheads, freights, carriage, etc.
    • Excise Duty: As of 3 February 2018, the Central Government levies an excise duty of Rs.19.48 per litre on petrol.
    • Dealer commission: As of 3 February 2018, fuel retailers impose a commission of Rs.3.59 per litre on petrol.
    • VAT: The retail selling price of petrol in Varanasi includes a Value-added Tax of Rs.18.93 per litre.

    Elements affecting the Petrol Price in Varanasi

    The petrol rate in Varanasi is affected by the exchange rate, the buying price of unrefined oil, the central tax and the VAT. As crude oil is transacted in global markets, the exchange rate makes a huge difference to the buying cost of unrefined oil. Any ups and downs in the INR/USD conversion rate shall be replicated in the petrol price in Varanasi. For example, when the value of the Indian currency depreciates against the value of the currency of the USA, crude oil rates in global markets are expected to increase. Similarly, when the value of the USD depreciates against the value of the Indian currency, crude oil prices are envisioned to fall.

    GST vs Petrol Price in Varanasi

    The Goods and Services Tax (GST) is not applicable to petrol since it has been outside the regime of the GST framework. Once the GST is executed on petrol, the petrol price will fall. The oil ministry had urged the GST Council to tax petrol under the GST framework, but the final decision should be taken by the GST Council.

    *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 Varanasi Today

    • Petrol and Diesel Prices Remain Unchanged Today

      State-owned oil firms kept petrol and diesel rates unchanged across major metro cities after fuel prices fluctuated for six days. Petrol prices were on the incline for the last one week, while diesel prices have been lowered. In Mumbai, petrol costs Rs.78.33 a litre while diesel is available at Rs.70.25 a litre. In the national capital Delhi, petrol costs Rs.72.71 a litre and diesel is available at Rs.67.06 a litre. Similarly, in Kolkata and Chennai, petrol is being sold at Rs.74.79 and Rs.75.52 a litre and diesel is being sold at Rs.68.85 a litre and Rs.70.87 per litre, respectively. It may be noted that fuel prices were raised sharply on 13 January as international crude oil prices rose after OPEC-led supply cuts in the global market from 1 January. Prices of fuel may differ between cities and petrol pumps due to local sales tax and transportation costs. New rates are effective from 6:00 am IST. In the international oil market, benchmark Brent crude oil futures were trading down by 0.2% or 13 cents to $67.03 per barrel. As per the dynamic fuel pricing mechanism, petrol and diesel prices depend upon global crude oil rates on a 15-day average along with the rupee-dollar exchange rate.

      18 March 2019

    • Petrol and Diesel Prices Kept Unchanged

      State-run Oil Marketing Companies (OMCs) on Wednesday kept petrol and diesel prices unchanged across major metro cities. In Delhi, petrol is being sold at Rs.71.19 per litre and diesel at Rs.65.89 per litre, recording no change compared to Tuesday’s price. In Mumbai, petrol is available at Rs.76.82 per litre, while diesel is being sold at Rs.69 per litre. Petrol is being retailed at Rs.73.82 per litre and diesel at Rs.67.67 per litre in Kolkata. In Chennai, petrol is available at Rs.73.90 per litre and diesel is being sold at Rs.69.61 per litre.

      In other metro cities such as Gurugram and Noida, petrol is available at Rs.70.90 per litre and Rs.71.93 per litre, respectively. Diesel is being sold at Rs.65.05 per litre in Noida and Rs.65.66 per litre in Gurugram. The last time, petrol and diesel prices were cut was on 28 January 2019, when petrol rates were cut by 8-9 paise per litre and diesel by 11 paise per litre across major metro cities of the country. Fuel prices are revised under the ‘Dynamic Fuel Pricing’ mechanism by the OMCs. Meanwhile, the crude oil was trading lower on the back of an uncertain outlook for the global economy. International benchmark, Brent crude oil futures were trading around $61 per barrel, down 6 cents from its previous close, while the US crude were trading around $53 per barrel.

      30 January 2019

    • Petrol Prices Drop Further Hits Rs.78.56 per litre in Delhi

      Petrol prices right now are a far cry from what they were a month or even three weeks ago as they have continued on their declining path over two weeks now. For the last two months, there was massive outrage over the rising petrol prices which had crossed Rs.90 per litre and was threatened to go over Rs.100 per litre. However, a timely intervention by the government as well as the improving state of crude oil inventories has caused petrol rates to drop.

      On Monday, petrol prices in Delhi was seen at Rs.78.56 per litre - a Rs.0.22 per litre drop. Alternatively, in Mumbai the fuel’s prices were holding at Rs.84.06 per litre.

      In other metro cities like Kolkata and Chennai, petrol was selling at Rs.80.47 per litre and Rs.81.61 per litre respectively. Fuel prices have actually been declining for the previous 19 days as crude oil prices in the global market has eased significantly and the market looks to be holding steady as the sanctions on Iran is about to be imposed. The US government allowing a few countries to trade oil with Iran has also helped with the issue.

      9 November 2018

    • Diesel Prices Hiked by 8 Paise per litre in Delhi

      State-owned oil companies increased diesel prices for the 10th consecutive day on Monday across all major metro cities in the country. With this hike in diesel prices, it has wiped out the Rs.2.50 per litre cut announced by the Central Government earlier this month through excise duty cut and oil company subsidy. The Union Government, with effect from 5 October 2018, cut excise duty by Rs.1.50 per litre and asked oil companies to subsidise petrol and diesel by Rs.1 a litre. However, fuel prices have risen since then. Diesel was hiked by 8 paise per litre, while petrol was left untouched by oil companies. With this hike, diesel rates have gone up by Rs.2.51 per litre in the last 10 days. With the revision, diesel is being sold at Rs.75.45 per litre in Delhi and petrol costs Rs.82.72 per litre (an increase of Rs.1.22 per litre since the cut). In Mumbai, diesel is being retailed at Rs.79.11 per litre and petrol costs Rs.88.18 per litre. Diesel and petrol are cheaper in Delhi due to its lower local sales tax, while its the highest in Mumbai.

      16 October 2018

    • Diesel Prices Hiked by 8 Paise per litre in Delhi

      State-owned oil companies increased diesel prices for the 10th consecutive day on Monday across all major metro cities in the country. With this hike in diesel prices, it has wiped out the Rs.2.50 per litre cut announced by the Central Government earlier this month through excise duty cut and oil company subsidy. The Union Government, with effect from 5 October 2018, cut excise duty by Rs.1.50 per litre and asked oil companies to subsidise petrol and diesel by Rs.1 a litre. However, fuel prices have risen since then. Diesel was hiked by 8 paise per litre, while petrol was left untouched by oil companies. With this hike, diesel rates have gone up by Rs.2.51 per litre in the last 10 days. With the revision, diesel is being sold at Rs.75.45 per litre in Delhi and petrol costs Rs.82.72 per litre (an increase of Rs.1.22 per litre since the cut). In Mumbai, diesel is being retailed at Rs.79.11 per litre and petrol costs Rs.88.18 per litre. Diesel and petrol are cheaper in Delhi due to its lower local sales tax, while its the highest in Mumbai.

      16 October 2018

    Petrol Price In Metro Cities
    Petrol Price In Other Capitals
    Petrol Price In Other Major Cities
    Petrol Price In States

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