Petrol Price In Warangal Today

  • Today's Petrol Price ( 21 Oct 2019 )
    ₹ 77.49
    Current Petrol Price Per Litre
    Compare Petrol Price in Warangal (Today & Yesterday)
    Today
    (21 Oct 2019)
    Yesterday
    (20 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 77.49 ₹ 77.49 ₹ 0 ↑
    Petrol Price in Warangal - Last 10 Days Data
    Date Petrol ( / litre)
    21 Oct 2019 ₹ 77.49
    20 Oct 2019 ₹ 77.49
    19 Oct 2019 ₹ 77.49
    18 Oct 2019 ₹ 77.5
    17 Oct 2019 ₹ 77.5
    16 Oct 2019 ₹ 77.5
    15 Oct 2019 ₹ 77.5
    14 Oct 2019 ₹ 77.55
    13 Oct 2019 ₹ 77.55
    12 Oct 2019 ₹ 77.55

    Petrol Rate Trend

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    Petrol Price in Warangal

    Petrol price in Warangal, the second largest city in Telangana state, is made of various domestic and international components. Just like in any other Indian city, petrol price in Warangal is revised every day based on the international crude oil price and currency exchange rate.

    Other factors that affect the petrol price in Warangal are mostly domestic in nature. They include the state and central government taxes on Petrol, costs levied by oil marketing companies and dealers commission.

    Those who are coming across the terms for the first time, it may all sound Greek and Latin. We explained the same factors in detail to make you understand how they contribute to increasing petrol prices in Warangal. All your questions about petrol price in Warangal, why is it so high in South India, how can other countries sell it for much lower prices than India, etc., can be answered by going through the content provided below.

    The Journey of Petrol Determines its Price in Indian Market

    To better understand the factors that affect the petrol price in Warangal or any other Indian city for that matter, one must know the journey of petrol from where it is born to the place it’s sold.

    Petrol, as we all know, is a fossil fuel found in vast underground reservoirs. Most of the petroleum reservoirs are found beneath the land or ocean. Petrol or diesel are originally available in crude form under the earth’s crust. Once the related studies that confirm the presence of crude oil in a particular area are completed, the crude oil will be extracted by drilling the earth’s crust. Thus extracted crude will be further refined to separate petrol, diesel and other fuel products.

    With regards to petrol production in India, the country does have petroleum reserves. But the available reserves are not sufficient to meet the demand of India’s ever-increasing population. Therefore, the country majorly depends on oil import from other countries. More than 70% of India’s fuel requirements are met by importing fuel from OPEC nations such as Saudi Arabia, United Arab Emirates, Kuwait, Malaysia, Indonesia, and United States.

    Indian oil marketing companies (OMCs) purchase crude oil from OPEC countries. Once the crude is transported through ocean to the country, the OMCs refine it to extract petrol, diesel, kerosene and other fuel products. The refined fuel products will then be sold to petrol pump dealers. The dealers then make the products available at their fuel stations for end consumers.

    As the fossil fuel goes through various phases, it moves among different parties, each conducting their course of duty to make it reach the final consumer. Due to the various processes involved in its journey, various costs are involved to transport, refine, store and maintain the fuel. Each party involved in the process adds the costs incurred to the cost price of the petrol and thus the final price of petrol is composed of various elements. Any minute change in any of the elements thus impacts the cost of petrol in the country and hence in Warangal.

    How is Petrol Price Computed in Warangal?

    Petrol price in Warangal, similar to other Indian cities, is computed by considering various domestic and international factors as listed below.

    • Domestic factors
      • Central government taxes
      • State government taxes
      • Oil companies profit margins and
      • Dealers commission
    • International factors
      • Currency exchange rate
      • International crude oil price

    Let’s look at each factor in detail.

    • International Crude Oil Price: Crude oil price in the international market plays a key role in petrol pricing in India as the country imports more than 70% of its crude oil requirements from oil producing nations. Crude oil price is dynamic in nature and changes every day based on demand and supply metrics, climatic conditions and political stability in oil-producing countries.

    With the introduction of dynamic fuel pricing system, petrol prices in India will be revised based on global oil price fluctuations. Hence, crude oil price plays a prominent role in petrol pricing in India.

    For example, petrol price in Warangal today will be determined by considering the price of international crude oil of Indian basket on the previous day. Based on the price of one barrel crude oil, price of one litre petrol will be computed and will be considered as base rate in petrol pricing. Other components will be added to the base price to get the final petrol price for the day.

    • Currency Exchange Rate: When OMCs purchase oil from other countries, instead of paying for it in Indian rupee or the other currencies, they purchase crude in dollars. Not just India, the entire world trades oil in US dollars. Hence, the dollar to Indian rupee exchange rate affects the petrol price in Warangal on a daily basis.
    • Oil Companies Profit Margins: When the OMCs purchase fuel from other countries, it will be in crude form. They need to conduct refining activities to extract petrol and other fuel products such as diesel, kerosene, etc., from crude. They hence add the refining costs and profit margins to the cost price of the fuel before selling it to the dealers.
    • Dealer’s Commission: Petrol pump dealers purchase the refined petrol from the OMCs. They then add transportation costs, dealer’s commission, station maintenance costs, etc., to the cost price of petrol before selling it at the fuel stations. Typically, OMCs decide the dealer ’s commission and revise the same once every year.
    • State and Central Government Taxes: One of the major components in petrol pricing are the taxes levied by local and central governments. While the central government collects excise duty on petrol, state government levies value added tax (VAT) on every litre of petrol.

    Currently, the excise duty on petrol is Rs.19.48 per litre following the recent cut of Rs.2 in February 2018.

    VAT is levied by state governments specific to each state. With regards to Warangal, the Telangana state government collects 33.21% VAT per litre of petrol. The VAT collected by Telangana is the fifth highest in the country.

    Both the taxes will be levied on the petrol price once a petrol pumps dealer purchases it from the OMCs. It will be levied on the cost price of petrol dealers.

    Breakdown of petrol price in Warangal, Telangana

    Using the factors listed above, let’s see how the petrol rate in Warangal on 19th April 2018 was calculated.

    S.NO Component Price
    1 International crude oil price along with ocean freight charges $77.86 per barrel = Rs.31.88/Litre (considering $1=65.11 and 1 barrel oil = 159 litres)
    2 Oil company’s margin, transportation, refining and freight cost Rs.3.36/Ltr
    3 Excise duty Rs.19.48/Ltr
    4 Dealer’s commission Rs.3.60/Ltr
    5 Value added tax (VAT) Rs.19.75/Ltr
    Total Retail selling price of petrol at Warangal Rs.78.07/Ltr

    Frequently asked questions (FAQs) on petrol price in Warangal

    1. Why does petrol price in Warangal change every day?

    Petrol price in Warangal changes on a daily basis due to the dynamic fuel pricing model. Implemented in June 2017, the dynamic fuel pricing mechanism revises the petrol prices in Warangal based on the previous day’s international crude oil price and currency exchange rate. The revised price will be updated at the petrol stations at 6 a.m. every day.

    1. Why are petrol prices in Warangal higher compared to petrol prices in other cities?

    An important factor that affects the petrol price in Warangal compared to all other cities is the value-added tax (VAT) levied on petrol by the respective state government. As Telangana government collects the fifth highest tax in India, petrol price in Warangal and other Telangana cities is higher compared to other neighboring cities and states.

    1. Where would I get the cheapest petrol in Warangal?

    Petrol price across Warangal remains almost the same except for a few points difference. The state-owned fuel stations including Indian Oil, Hindustan Petroleum, and Bharat Petroleum offer best petrol price in Warangal compared to private players like Shell and Essar. Among the public sector players, Indian Oil offers the cheapest petrol in Warangal.

    Also Check Petrol Price in NearBy Cities of Warangal

    *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 warangal

    • India Increases US Oil Imports to Offset Declining Iran Supply

      Between November last year and May this year, India quadrupled its imports of US crude oil as the US curbs on Iran sharply reduced Iranian crude imports by Indian refiners, which was Iran’s second-largest crude oil customer till last month. In the recent past, the growth in US crude oil supplies to India was higher compared to the increase of purchases of oil from its traditional Middle Eastern sources of supply. During November 2018 and May 2019, Indian refiners purchased approximately 184,000 bps of US crude oil, inclining by 40,000 bps during the same period last year. India’s Iranian crude oil imports declined to 275,000 bps, declining by 48% on the year between the beginning of the US curbs on Iran and the end of all waivers for countries who have been importing crude from Iran. During the said period, India’s crude import from Saudi Arabia inclined by about 11% and imports from the UAE rose by about 37%, while imports from Iraq declined by 3.3%.

      Despite the volumes from the US were relatively lower compared to those of India’s primary suppliers such as the Middle East, the growth in US purchases masked the rise in Middle East shipments. Also, the official selling price of Saudi Aramco and other Middle East oil producers have been higher which influenced the higher growth in US supplies. The US closed the gap left by Iranian supplies and is looking to increase its sale of crude oil to India.

      26 June 2019

    • Petrol prices hiked in the range of 6 to 7 paise

      Oil Marketing Companies (OMCs) on Thursday hiked the rates of petrol in the country by 6-7 paise. Following the increase in the rates, every litre of petrol in the national capital was retailed for Rs.72.48. Compared to Wednesday’s rates, the price was increased by 7 paise. In the financial capital of the country i.e., Mumbai one litre of petrol cost Rs.78.11. In the other two metro cities i.e, Kolkata and Chennai, consumers had to pay Rs.74.56 and Rs.75.27 respectively. In non-metro cities of the country like Noida and Gurgaon, the rates of petrol were Rs.72.48 and Rs.71.94.  

      It needs to be mentioned here that the rates of fuel in the country depend upon international fuel prices on a 15-day average and the value of rupee against the US dollar. The rates are revised daily as per the dynamic pricing scheme that was adopted in the month of June 2017. 

      15 March 2019

    • Oil Rises Amid US Sanctions on Venezuela

      Oil prices in the international market rose more than 2% on Tuesday after the US imposed sanctions on state-run Venezuelan oil firm PDVSA, a move expected to curb the OPEC member’s crude supply and flair concerns about global oversupply that have weighed on crude. International Brent crude oil futures were up $1.42 to $61.35 per barrel or 2.4%, while the US West Texas Intermediate (WTI) crude futures were trading up $1.37 to $53.36 per barrel or 2.6%. Among the world’s largest heavy crude oil producers, Venezuela’s biggest client is the United States, exporting about half the country’s export volumes, followed by India and China. While the US’s sanctions stop short of banning US companies from purchasing crude oil from Latin American countries, proceeds from such sales will be put in a ‘blocked account’, that should hamper PDVSA from importing oil to the United States.

      Meanwhile, the global oil supply continues to remain high, mainly because of more than 1 million bpd increase in production of US crude oil last year to a register 11.9 million bpd. Also, if the trade war between the US and China slows down the global economy, demand for crude oil could suffer in the international market.

      30 January 2019

    • Petrol Prices Cross the Rs.90 Mark in Maharashtra

      On Thursday, the prices of petrol crossed the Rs.90 mark in certain cities of Maharashtra. The Rs.90 mark was crossed in cities like Hingoli, Parbhani, Jintur, Majalgaon, Ghansawangi and Paranda as Oil Marketing Companies (OMCs) hiked the prices by 0.6 paise on Thursday. In the four metro cities of the country i.e., Delhi, Mumbai, Kolkata, and Chennai every litre of petrol cost Rs.82.22, Rs.89.60, Rs.84.07, and Rs.85.48 respectively. Of late, the prices of petrol has been on the rise and since mid-August, the prices have increased by Rs.5.02 per litre. It needs to be mentioned here that Oil Marketing Companies (OMCs) had adopted the dynamic fuel pricing scheme in the month of June last year. Under the scheme, the rates of fuel that consumers are required to be paid are revised on a daily basis.

      21 September 2018

    • Not Possible to Cut Diesel and Petrol Price Gap for Four-Wheelers: Centre to SC

      The Centre has told the Supreme Court that it was not possible to reduce the gap between petrol and diesel for private vehicles. On 13 July 2018, the apex court had asked the Centre to notify it as to whether diesel and petrol can have an equal pricing for private vehicles and four-wheelers after the Environment Pollution Control Authority (EPCA) said that pollution emitted by diesel vehicles was a cause of concern. The SC had suggested the Centre could contemplate fixing the price of diesel and petrol on par for four-wheelers, apart from goods vehicles. The Centre also said that slashing the price gap between diesel and petrol would not be economically viable and might lead to inflation. The SC was hearing the petition that has raised the problem of air pollution in the Delhi-NCR.

      25 July 2018

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