Petrol Price in West Bengal
Petrol is not domestically produced. Therefore, the price of petrol is interlinked to the global market performance. Majorly, the currency conversion ratio and the rates of crude oil determine the petrol price in India. Since the percentage of Value-added Tax (VAT) varies from state to state, the fuel is priced differently throughout the country. This page gives you a detailed interpretation of petrol prices in West Bengal. To make the study simpler, we have considered the three prime cities of the state.
The petrol price in Kolkata today (20 January 2019) is Rs.72.69 per litre at Indian Oil Company Limited. The price remains similar compared to the price of the previous day. More than 50% of the retail selling price of petrol goes towards the VAT levied by the State Government of West Bengal and the excise duty levied by the Central Government. The current excise duty per litre is Rs.17.98 per litre and the state tax is 25% or Rs.13.12 per litre, whichever is higher.
|January 2018||December 2017||November 2017||October 2017||September 2017|
|Opening day price||Rs.72.72||Rs.71.98||Rs.71.90||Rs.73.50||Rs.72.02|
|Closing day pricing||Rs.75.62||Rs.72.72||Rs.72.00||Rs.71.90||Rs.73.40|
The petrol price in Asansol, the second biggest city in West Bengal, is Rs.73.39 per litre today, i.e., on 21 January 2019. Asansol is in Bardhhaman district in the State of West-Bengal.
Today, the petrol price in Siliguri is Rs.75.59 per litre i.e. on 21 January 2019. Siliguri is located in the district of Darjling in West Bengal state.
Quarterly Petrol Price Trend in West Bengal Between October and December 2018
|Opening date price||Rs.85.61 a litre||Rs.81.30 a litre||Rs.74.62 a litre|
|Closing date price||Rs.81.48 a litre||Rs.74.97 a litre||Rs.70.92 a litre|
|Highest price||Rs.85.85 a litre booked on the 4 October 2018||Rs.81.30 a litre booked on the 1 November 2018||Rs.74.62 a litre booked on the 1 December 2018|
|Lowest Price||Rs.81.48 a litre booked on 30 and 31 October 2018||Rs.74.97 a litre booked on the 30 November 2018||Rs.70.92 a litre booked on the 31 December 2018|
Petrol Price Trend in West Bengal Between October and December 2018
- Petrol was priced at Rs.85.61 per litre on 1 October – a record high on the back of a rising crude oil price in the international market.
- Fuel prices in West Bengal and other states in India are revised daily by State-run Oil Marketing Companies (OMCs) under the ‘Dynamic Fuel Pricing’ mechanism.
- The fuel pricing mechanism includes the 14-day average price of crude oil as well as the exchange rate of the rupee against the US dollar.
- On 4 October, the petrol price in West Bengal rose to touch a monthly high of Rs.85.85 per litre as crude oil price hit a four-year high of $80 per barrel.
- The Central government announced a cut in the excise duty levied on the sale of fuel of Rs.1.50 per litre, while it asked OMCs to absorb further subsidy of Rs.1 per litre.
- By the end of the month, crude oil prices dropped, and along with the cut in the excise duty, prices of petrol in West Bengal declined by 4.83%.
- On 1 November, petrol was sold at Rs.81.30 per litre in West Bengal – the highest rate recorded for the month.
- The rise in crude oil prices was attributed to the US-China trade war which led to geopolitical tensions, impacting the rise in oil prices.
- Prices declined during the month and touched the lowest price on 30 November when the fuel was retailed at Rs.74.97 per litre.
- Overall, petrol prices in November declined sharply by 7.79% influenced by the drop in crude oil rates in the global market.
- The petrol rate in West Bengal on 1 December stood at Rs.74.62 per litre, the highest rate recorded during the month.
- Crude oil was trading around $56 per barrel late December, down from $80 per barrel in early October. This prompted a significant decline in petrol and diesel priced in India.
- On 30 and 31 December, petrol was available at its lowest price of Rs.70.92 per litre on the back of a steep fall in crude oil prices.
- The petrol price trend in December showed a decline of 4.96%, impacted by the drop in oil prices coupled with a slight appreciation of rupee over the US dollar.
Revision of Petrol Prices in West Bengal
India has rolled out dynamic fuel pricing in June 2017 by dropping the 15-year old fortnightly-based revision mechanism. Dynamic fuel pricing is a fuel pricing mechanism that revises fuel prices daily in line with crude oil rates and the exchange rate, thereby makes fuel consumers to pay the market-determined price. The mechanism is also used by Russia, Japan, the United States of America (USA) and Australia. India joins the list.
Quarterly Petrol Price Trend in West Bengal between July and September 2018
|Opening date price||Rs.78.23 a litre||Rs.79.20 a litre||Rs.81.49 a litre|
|Closing date price||Rs.79.24 a litre||Rs.81.49 a litre||Rs.85.12 a litre|
|Highest price||Rs.79.71 a litre recorded on the 15th||Rs.81.49 a litre recorded on the 31st||Rs.85.12 a litre recorded on 28th, 29th and 30th|
|Lowest Price||Rs.78.23 a litre recorded on the 1st||Rs.79.20 a litre recorded on the 1st||Rs.81.49 a litre recorded on the 1st|
Petrol Price Trend in West Bengal in July 2018
- Fuel prices are revised on a daily basis by State-owned Oil Marketing Companies (OMCs) under the dynamic fuel pricing mechanism.
- The components of the retail price of petrol include the global crude oil price, exchange rate of the Indian currency over the U.S. dollar and the taxes levied by the Centre and the respective state government.
- Based on the daily revision, the petrol price in Kolkata, the capital city of West Bengal, on the 1st of July stood at Rs.78.23 per litre. This is also the lowest price recorded for the month.
- Oil companies kept the petrol price in West Bengal unchanged until the 5th before increasing it by 16 paise per litre.
- Prices continued to rise in the first and second weeks of the month to record the highest price for the month at Rs.79.71 per litre on the 15th.
- Over the next couple of weeks, petrol prices in the state declined but not lower than the opening price of the month.
- The closing price of the month stood at Rs.79.24 per litre, an incline of Rs.1.01 a litre when compared to the opening price.
- Overall, petrol prices in West Bengal during July grew by 1.30% attributed to the marginal rise in the global crude oil price.
Petrol Price Trend in West Bengal in August 2018
- As per the daily revision, the petrol price on the 1st of August was revised to Rs.79.20 per litre, a reduction of 4 paise over the previous day. This was also the lowest petrol price in August.
- During the first and second weeks, the price of petrol was hiked relentlessly due to the increase in oil prices in the global market.
- The rise in oil prices was influenced by geopolitical tensions between the U.S. and Iran after the former pulled out of the nuclear deal between the two nations.
- With a shortage in the supply of oil, the global crude oil price moved upwards prompting fuel prices to increase across the globe.
- Petrol prices in West Bengal and other states continued to rise in the last couple of weeks. By the end of the month, a litre of petrol in West Bengal was sold at Rs.81.49 - the highest petrol price registered during the course of the month.
- The petrol price trend in West Bengal in August inclined by 2.90% prompted by the rise in the global crude oil price.
Petrol Price Trend in West Bengal in September 2018
- On the 1st of September, the petrol price in West Bengal stood at Rs.81.49 per litre - the lowest petrol price recorded during the month.
- With the possibility of a shortage in oil supply in the global market, the crude oil price rose to touch a four-year high of $80 per barrel. This triggered petrol prices in the state to touch record levels.
- On the 11th, the West Bengal government announced a cut in the VAT of Rs.1 per litre on the sale of petrol and diesel in the state offering some respite to consumers.
- Other states such as Karnataka, Rajasthan and Andhra Pradesh also announced a cut in the VAT on fuel apart from the West Bengal government.
- However, the reduction in petrol prices was wiped out within a few days due to the depreciation of rupee over the U.S. dollar.
- The rupee touched a record low of Rs.72 over the dollar influencing the significant rise in petrol prices in the country.
- By the end of the month, petrol prices recorded its highest rate of Rs.85.12 per litre on the 28th. This rate was kept unchanged until the last day of the month.
- The petrol price trend in West Bengal in September grew by 4.45% influenced by the significant rise in crude oil prices coupled with the fall in the Indian currency’s exchange rate over the dollar.
Quarterly Petrol Price Trend in West Bengal Between April and June 2018
|Opening date price||Rs.76.44 per litre||Rs.77.32 per litre||Rs.80.96 per litre|
|Closing date price||Rs.77.32 per litre||Rs.81.02 per litre||Rs.78.23 per litre|
|Highest price||Rs.77.36 per litre recorded on 24th||Rs.81.10 per litre recorded on 29th||Rs.80.96 per litre recorded on 1st|
|Lowest price||Rs.76.44 per litre recorded on 1st||Rs.77.32 per litre recorded from 1st to 11th||Rs.78.23 per litre recorded from 27th to 30th|
Petrol Price Trend in West Bengal in April 2018
- On 1 April 2018, the petrol price in Kolkata, the capital of West Bengal, stood at Rs.76.44 per litre, which is also the lowest price of the month in the State.
- Fuel prices in India are revised on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism and prices are updated every day at 6:00 a.m. IST.
- Under this method, State-run fuel companies such as Indian Oil, Hindustan Petroleum and Bharat Petroleum include the previous day’s crude oil rate and the currency exchange value to the Retail Selling Price of petrol.
- During the first and second week, petrol prices in West Bengal remained steady with slight variations due to the fluctuations in the crude oil rate.
- The highest petrol price recorded in the month stood at Rs.77.36 per litre on the 24th of the month attributed to the rise in crude oil prices.
- By the end of the month, petrol prices in West Bengal grew by 1.15% largely due to the marginal increase in crude oil prices.
Petrol Price Trend in West Bengal in May 2018
- Fuel companies kept petrol prices unchanged till the 11th of May since the global crude oil rate remained steady for the first week.
- From the 1st to the 11th, petrol was sold at Rs.77.32 per litre, which is also the lowest price during the month.
- Post the 11th, fuel companies started revising petrol prices in tandem with the crude oil price. During the second week, petrol prices grew significantly in the backdrop of higher crude oil rates.
- The incline in crude oil rates is attributed to the geopolitical tensions of a potential shortage in supply of oil as production cuts were announced by oil cartel led by Saudi Arabia and Russia, drop in production from Venezuela and the US decision to impose sanctions on Iran.
- With crude oil rates on the rise, petrol prices in West Bengal and other states in the country touched an all-time high on 29th when petrol was sold at Rs.81.10 per litre in Kolkata.
- Overall, petrol prices in West Bengal in May 2018 reflected a significant rise of 4.79% largely impacted by the incline in crude oil rates.
Petrol Price Trend in West Bengal in June 2018
- On the 1st, petrol was sold at Rs.80.96 per litre in West Bengal after touching a new high in the month of May 2018. This price is also the highest petrol price of the month in the State.
- Petrol prices remained steady during the first week before declining by Rs.1.28 per litre on the 9th as the crude oil price had slightly declined.
- Despite the decline, fuel prices across the globe were on the high and the members of the Organisation of Petroleum Exporting Countries (OPEC) and its ally Russia decided to meet on the 22nd to find ways to tackle the rising crude oil rates.
- Over the course of the second and the third week, petrol prices in West Bengal decreased; however, the decline was marginal.
- The OPEC and Russia met and agreed to increase the output to cater to the high demand for fuel across the globe.
- Prices of petrol continued to decline to record its lowest for the month at Rs.78.23 per litre on the 27th and continued till the 30th of the month.
- Petrol prices in West Bengal in June 2018 reflected a downward trend of 3.04% largely due to the increase in output as well as due to the easing of geopolitical fears.
Trend in Petrol Prices in West Bengal between January and March 2018
|Opening date price||Rs.72.72 per litre||Rs.75.72 per litre||Rs.74.37 per litre|
|Closing date price||Rs.75.62 per litre||Rs.74.24 per litre||Rs.76.26 per litre|
|Highest price||Rs.75.62 per litre||Rs.76.05 per litre||Rs.76.26 per litre|
|Lowest price||Rs.72.72 per litre||Rs.74.24 per litre||Rs.74.37 per litre|
|% Deviation||3.98% (Up)||1.95% (Down)||2.54% (Up)|
Trend in Petrol Price in West Bengal in January 2018
- The petrol price of Rs.72.72 per litre was offered on 1, 2, and 3 in Kolkata, Siliguri and Asansol, the three notable cities in West Bengal. It was the lowest price for the month also.
- After 3, the fuel began accumulating the price in tandem with the exchange ratio (USD/INR) and the market value of unrefined oil, which was envisioned to grow by $5 per barrel this month.
- With steadily growing overseas crude oil rates, on 15, the price offer of a litre of petrol jumped to Rs.73.91 across the state.
- The fuel crossed a Rs.74 mark per litre on 16 and commenced accumulating the value later on. As a result, the highest rate was registered on 31 at Rs.75.62 a litre.
- The overall growth rate for the month was 3.98% and should be accredited to the cost price of the Indian Crude Basket, which soared from $62.29 per barrel to $67.06 per barrel, and the value of INR, which decreased to $63.56 against the greenback.
- The indigenous forces, the production and supply of crude oil and the global politics were remained unaffected during the month.
Trend in Petrol Price in West Bengal in February 2018
- The closing price of January turned out to be the opening date price in February in the capital city of West Bengal, Asansol and Siliguri. It was not impacted by the Union Budget, which was declared on 01 for the financial year 2018 and 2019.
- Internationally, unrefined oil experienced an unusual drop in its demand. So, the crude oil rate started declining gradually. On 7, it was $64.62 a barrel and further depreciated to $63.63 a barrel on 15.
- Hence, the petrol rate in Kolkata decreased to Rs.75.74 per barrel at the end of the second week caused also a sheer hike in the dollar value.
- A drop in crude oil prices was triggered by unusual falls in the demand for the commodity but not because of other factors.
- HPCL, BPCL and Indian Oil have announced the lowest fuel price of Rs.74.24 per litre on 27 and 28 whereas the highest price was of Rs.76.06 a litre on 6 and 7 in all the major cities in West Bengal.
- Eventually, the state reported a 1.95% fall in the petrol rate only because of the lessened cost of the commodity. The variations in the currency exchange ratio was negligible.
Trend in Petrol Prices in West Bengal in March 2018
- Unlike the previous month, the highest price was not recorded within the first week as the fuel companies commenced increasing the rate in sync with the global determinants.
- The first-day price offer was Rs.74.37 a litre, the second-day price offer was Rs.74.55 a litre and the third-day price offer was Rs.74.74 a litre.
- On 6, 7 and 8, the average fuel price in all the major towns in West Bengal was Rs.75.17 a litre, which included the central tax of Rs.19.48 a litre and the Value-added Tax.
- Until 15, under the dynamic fuel pricing, the fuel price was revised to Rs.75.23 a litre, which was the highest rate for the first half.
- Crude oil accrued a substantial amount of demand from emerging countries including India and however, the price was on a growing trend after 15.
- Petrol prices were unstoppable until the end of the month and therefore, the OMCs announced the highest rate on 31 at Rs.76.26 a litre.
- Since the INR appreciated versus the greenback reasonably and the global market price of crude oil jumped to $63.80 a barrel, the petrol rates appreciated by 2.54% this month.
Characteristics of Dynamic Fuel Pricing
- The revision of fuel prices should be done at 06:00 a.m. each day by all automated and non-automated petrol bunks in West Bengal. Automated petrol pumps can automatically revise fuel prices whereas non-automated petrol pumps can do it manually.
- The current assets and current liabilities of oil marketing companies can be optimally balanced. Cash inflows and cash outflows can also be optimally managed by oil marketing companies.
- The fuel retailing sector in India may be interlinked to the global fuel retailing sector.
How will I get the Latest Petrol Price in West Bengal?
Here goes the answer. Every day, you have a different price for petrol. You can get today’s petrol rate in West Bengal by using mobile applications offered by Indian Oil, Hindustan Petroleum, Bharat Petroleum and Shell Oil. Or, you can make an SMS request or directly talk to customer service representatives to get today’s petrol price in West Bengal. It can be checked online as well. Once the fuel price is revised at 06:00 a.m., the revised rate shall be made available to fuel consumers.
Calculation of Petrol Rate in West Bengal
The following table depicts the price break-up of Petrol Prices in West Bengal:
|Cost factors||Petrol Price per litre|
|Refined crude oil price per barrel (159 litres), as of 3 January 2019||Rs.3,967 per barrel|
|Crude oil rate per litre (3,967/159)||Rs.24.95 (approximately)|
|OMC expenses per litre||Rs.7.16 per litre (approximately)|
|Cost of fuel (after refining)||Rs.32.11 per litre|
|Central||Rs.17.98 per litre|
|Dealer’s price||Rs.50.49 per litre|
|Commission for dealers||Rs.3.57 per litre|
|Fuel rate prior to Value-added Tax||Rs.54.06 per litre|
|Value-added Tax (VAT)||Rs.13.12 per litre|
|Commission charged to pump owners||Rs.3.57 per litre|
|Retail selling price per litre||Rs.70.75 per litre|
Factors impacting Petrol Price in West Bengal
An exchange rate gives you the value of a currency against some other currency. The INR/USD currency pair gives the value of the INR, the Indian currency, against the USD, the currency of the United States of America. Currency traders trade this currency on the Forex Exchange market. If the INR/USD exchange rate falls, the price of crude oil gains. If the USD/INR exchange rate gains, the petrol price in West Bengal decreases.
Another factor that influences petrol prices in West Bengal is the cost of crude oil, which is influenced by global factors such as major political moves, the demand for oil in oil-producing and other countries. Any fluctuations in the cost price of crude oil will directly influence the petrol rate in West Bengal. Similarly, the ups and downs in central and state taxes shall affect the fuel price.
Does the GST system affect Fuel Rates in West Bengal?
The system of the Goods and Services Tax (GST) has transformed the way tax is imposed. The GST subsumes the indirect taxes that were levied before July 2017. The system offers a single taxation platform to tax goods and services that are sold within the country. But, petrol and the byproducts of petrol are out of the GST regime presently. Therefore, fuel prices in West Bengal remained unchanged.
*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.