| city | Petrol Price | CHANGE |
|---|---|---|
| Agra | 96.35₹/L | +0.00 |
| Ahmedabad | 96.42₹/L | +0.00 |
| Allahabad | 96.65₹/L | +0.00 |
| Aurangabad | 112.9₹/L | +0.00 |
| Bangalore | 101.9₹/L | +0.00 |
| Bhopal | 108.6₹/L | +0.00 |
| Bhubaneswar | 103.1₹/L | +0.00 |
| Chandigarh | 96.2₹/L | +0.0 |
| Chennai | 102.6₹/L | +0.00 |
| Coimbatore | 103.1₹/L | +0.00 |
| Dehradun | 95.28₹/L | +0.06 |
| Delhi | 96.72₹/L | +0.00 |
| Erode | 103.1₹/L | +0.00 |
| Gurgaon | 97.18₹/L | +0.00 |
| Guwahati | 96.01₹/L | +0.00 |
| Hyderabad | 109.6₹/L | +0.00 |
| Indore | 108.6₹/L | +0.00 |
| Jaipur | 108.4₹/L | +0.00 |
| Jammu | 97.5₹/L | +0.0 |
| Jamshedpur | 99.77₹/L | +0.00 |
| Kanpur | 96.26₹/L | +0.00 |
| Kolhapur | 111.4₹/L | +0.00 |
| Kolkata | 106.0₹/L | +0.00 |
| Kozhikode | 105.8₹/L | +0.00 |
| Lucknow | 96.57₹/L | +0.00 |
| Ludhiana | 96.81₹/L | +0.00 |
| Madurai | 103.2₹/L | +0.00 |
| Mangalore | 101.1₹/L | +0.00 |
| Mumbai | 111.3₹/L | +0.00 |
| Mysore | 101.4₹/L | +0.00 |
| Nagpur | 97.04₹/L | +0.00 |
| Nashik | 111.7₹/L | +0.00 |
| Patna | 107.2₹/L | +0.00 |
| Pune | 110.8₹/L | +0.00 |
| Raipur | 102.4₹/L | +0.00 |
| Rajkot | 96.19₹/L | +0.00 |
| Ranchi | 99.84₹/L | +0.00 |
| Salem | 103.3₹/L | +0.00 |
| Shimla | 97.58₹/L | +0.29 |
| Srinagar | 102.1₹/L | +0.44 |
| Surat | 96.31₹/L | +0.00 |
| Thane | 111.4₹/L | +0.00 |
| Trichy | 103.0₹/L | +0.00 |
| Vadodara | 96.08₹/L | +0.00 |
| Varanasi | 97.39₹/L | +0.00 |
| Visakhapatnam | 110.4₹/L | +0.00 |
| Faridabad | 97.49₹/L | +0.00 |
| Ghaziabad | 96.58₹/L | +0.00 |
| Noida | 96.79₹/L | +0.00 |
| Thiruvananthapuram | 107.7₹/L | +0.00 |
Petrol Price in India
Petrol is an essential commodity mainly for the purpose of transportation (be it commercial or for personal use). The price of petrol, which is charged at petrol pumps, is the retail price of petrol that the cons...Petrol is an essential commodity mainly for the purpose of transportation (be it commercial or for personal use). The price of petrol, which is charged at petrol pumps, is the retail price of petrol that the consumer has to pay. Fuel price like that of petrol is determined by state-owned Oil Marketing Companies (OMCs) like Bharat Petroleum, Indian Oil and Hindustan Petroleum, and this is overseen by the PPAC (Petroleum Planning and Analysis Cell) which comes under the Ministry of Petroleum and Natural Gas. In India petrol rates are revised on a daily basis and the price change is effected at 06:00 a.m. every day. This makes sure that even a minute’s variation in global oil prices can be transmitted to fuel users and dealers. In India petrol rates are revised on a daily basis and the price change is effected at 06:00 a.m. every day. Price of fuel includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of petrol gets nearly doubled. When international crude oil prices gain, prices in India move higher. It is important for an individual to check the petrol price today to understand the 1 litre price and purchase it accordingly. Various factors impact the price of fuel.
Factors affecting petrol price in India include crude oil cost, demand, taxes, rupee and dollar and refinery consumption ratio. The well-known and popular oil marketing companies in India are Reliance Industries, Essar, Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum. Price at which the petrol dealers/distributors buy from OMCs + Excise duty + Dealer's Commission + VAT = Retail price of petrol. Fuel prices like petrol do not come under the Goods and Services Tax (GST) ambit.
*Disclaimer Statement: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
Factors affecting petrol price in India include crude oil cost, demand, taxes, rupee and dollar and refinery consumption ratio. The well-known and popular oil marketing companies in India are Reliance Industries, Essar, Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum. Price at which the petrol dealers/distributors buy from OMCs + Excise duty + Dealer's Commission + VAT = Retail price of petrol. Fuel prices like petrol do not come under the Goods and Services Tax (GST) ambit.
*Disclaimer Statement: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
Petrol Price: Petrol rates in India are revised on a daily basis. Prices are revised at 06:00 a.m. every day. This makes sure that even a minute’s variation in global oil prices can be transmitted to fuel users and dealers. Price of fuel includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of petrol gets nearly doubled. Various factors impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher.
Daily Petrol Price in India - Graphical Representation
Petrol Price in India - Last 10 Days data
| State | Petrol Price | CHANGE |
|---|---|---|
| Andhra Pradesh | 110.4₹/L | +-9.52 |
| Assam | 96.01₹/L | +0.00 |
| Bihar | 107.2₹/L | +0.00 |
| Chhattisgarh | 102.4₹/L | +0.00 |
| Gujarat | 96.30₹/L | +0.000 |
| Haryana | 97.33₹/L | +0E-14 |
| Himachal Pradesh | 97.58₹/L | +0.29 |
| Jammu And Kashmir | 99.80₹/L | +0.219 |
| Jharkhand | 99.80₹/L | +0.000 |
| Karnataka | 101.5₹/L | +0E-14 |
| Kerala | 105.8₹/L | +0.00 |
| Madhya Pradesh | 108.6₹/L | +0.000 |
| Maharashtra | 109.2₹/L | +0E-14 |
| Odisha | 103.1₹/L | +0.00 |
| Punjab | 96.50₹/L | +0.000 |
| Rajasthan | 108.4₹/L | +0.00 |
| Tamil Nadu | 103.0₹/L | +0E-14 |
| Telangana | 109.6₹/L | +0.00 |
| Uttar Pradesh | 96.53₹/L | +0E-14 |
| Uttarakhand | 95.28₹/L | +0.06 |
| West Bengal | 106.0₹/L | +0.00 |
| NCT of Delhi | 96.72₹/L | +0.00 |
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Earlier, the petrol price was updated every fortnight. And since June 2017, India adopted the Dynamic Fuel Pricing policy, where the cost of petrol in India is revised on a daily basis. In India petrol rates are revised on a daily basis and the price change is effected at 06:00 a.m. every day. This is the price that is reflected across petrol pumps, OMC websites and apps.
Price of fuel includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of petrol gets nearly doubled. When international crude oil prices gain, prices in India move higher. Fuel price is more expensive in states with lower demand.
“The dynamic fuel pricing policy offers several advantages to OMCs as well as customers. For starters, any fluctuations in the global crude oil prices are immediately reflected in the daily revised prices. Moreover, the dynamic fuel pricing policy helps the OMCs and petrol dealers across the country to better manage their equity capital as soon as there is a rise or dip in global crude oil prices or fluctuations in the USD to INR exchange rate,” states the Bajaj Finserv website.
Fuel prices are determined by state-owned Oil Marketing Companies like Bharat Petroleum, Indian Oil and Hindustan Petroleum and is overseen by PPAC (Petroleum Planning and Analysis Cell) under the Ministry of Petroleum and Natural Gas.
What are the factors impacting petrol prices in India?
Here is a look at five factors that have a direct impact on the price of petrol in India.
- Crude Oil Cost: This is one of the most important factors that has a direct impact on the petrol price. Crude oil is an international commodity and any change in its cost impacts domestic fuel prices in India. The price crude oil increases mainly due demand and supply, geo-political relations and the future supplies and reserves.
- More demand: As more and more people own vehicles, be it four-wheelers or two-wheelers, the demand for fuel like petrol has increased over the years, which in turn results in increase in petrol price.
- Supply and Demand: Petrol is produced by processing crude oil, and this crude oil cost affects price of fuel like petrol in India. Oil refineries face problem of the rising demand of petrol as the cost of crude oil is rising, which has resulted in less supply.
- Taxes on fuel: Government policies that impose tax on fuels has a direct impact on the price of petrol. To get the marginal returns and recover losses, oil companies revise the rate depending on the changing tax rates.
- Rupee and dollar: This another factor that has a big impact Indian petrol price. Oil imported in India is traded in dollars. So, when the dollar strengthens against the Indian rupee, the buying cost goes up, impacting the price of petrol.
- Refinery consumption ratio: A low refinery ratio leads to lower quantity of petrol available for sale, thus increasing the cost of petrol.
How is petrol price calculated?
The retail price of petrol is based on crude oil price, the OMC margin, transportation cost, freight costs, central government taxes, state government taxes, excise duty and few other taxes.
Here is how the retail price of petrol is calculated: The price at which the petrol dealers/distributors buy from OMCs + Excise duty + Dealer's Commission + VAT = Retail price of petrol charged. Fuel prices in the country does not come under the Goods and Services Tax (GST) ambit. While excise duty is collected by the central government for its use, VAT goes to the state government's coffers. VAT differs from state to state, and therefore the price will vary.
- Crude Oil: India is one of the largest importers of crude oil. Crude oil is also the biggest component of the retail selling price of petrol. Indian OMCs pay foreign crude oil companies addition charges along with the freight and insurance charges to purchase the crude oil.
- OMC costs: Oil marketing companies refine crude oil into petrol and then sell it to dealers. These companies sell petrol to dealers adding their own profit margin, which includes transportation cost, operational costs, refinery processing cost etc.
- VAT: VAT or value added tax on petrol varies from state to state, which is why petrol prices differ across different states and cities.
- Central and State Taxes: The excise duty on petrol is the same across all states.
Here’s a break-up of the taxes and levies that you pay on petrol
- Excise Duty: The excise duty on petrol is the same across all states.
- VAT: VAT on petrol and diesel varies from state to state.
- Dealer commission: In August 2017, state oil companies had increased the commission for petrol pump dealers by up to 55% under a revised formula that accounts for higher staff wages and, for the first time, the return on investment in land used for the filling station. The commission varies a little with the location of fuel pumps.
- Retail price: After adding excise duty, dealer commission and VAT, the retail selling price of the petrol gets nearly doubled.
Why petrol price varies from one country to another?
Fuel prices vary from one country to another due to these reasons:
- Currency variations
- Government subsidies for fuel
- Government tax rates and excise duty
- Availability of crude oil
- Market speculation
- Government regulations related to petroleum products
Industry stakeholders
- Oil production and exploration corporations: These companies produce oil in its crude form. The major participants include Crain India, Reliance Industries, ONGC and Oil India. Only 25% of the country’s oil requirements is met through these companies and the rest through imports.
- OMCs: Oil marketing companies manage everything from the stage of crude oil till the delivery of saleable fuel to dealers. There are public and private sector companies such as Reliance Industries, Essar, Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Private Corporate.
- Dealers: Owners of petrol bunks are called dealers who can be individuals or business entities. They sell petrol to end customers after adding their margins and local taxes.
Here are some important FAQs:
1. Does petrol price in India change on a daily?
Yes, petrol price in India changes on a daily basis at 6:00 AM.
2. Why is petrol price different in all the states of India?
Fuel prices in the country does not come under the ambit of Goods and Services Tax (GST). Do keep in mind that excise duty is collected by the central government and VAT is collected by state governments and is added to their revenue. This VAT differs from state to state, and hence the difference in price across states.
3. How many oil refineries are there and what is the total refining capacity of the country?
According to PPAC, there are total 23 refineries in the country out of which Public Sector Undertakings (PSUs) -18 numbers, Joint Ventures (JVs)-2 numbers and Private Sector-3 numbers. Refining capacity in the country as on 01.11.2021 is 249.9 Million Metric Tonnes Per Annum (MMTPA).
4. How are prices of Major petroleum products i.e. Petrol, Diesel, PDS Kerosene and Domestic LPG are decided?
The prices of petrol and diesel have been made market determined by the Government effective from 26th June, 2010 and 19th October, 2014 respectively and since then their prices are being decided by the Public Sector Oil Marketing Companies (OMCs) namely, Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited, in line with the changes in the international market prices and other market conditions. The Public Sector OMCs not only increase but also decrease the prices accordingly.
5. Whether India is a net importer or exporter of petroleum products?
Since there is sufficient refining capacity in the country, India is a net exporter of petroleum products. However, certain petroleum products (for example LPG, Lubes/LOBS etc.) are imported mainly due to the deficit in production, refinery shutdown, technical and commercial considerations and so on.
6. Why is the price of petrol so high?
Crude oil prices plummeted in 2020 due to lower demand, Indians kept paying higher rates for petrol and diesel due to the various taxes levied.
7. Is GST applicable on petrol?
Petrol and diesel do not come under the purview of goods and services tax ( GST ). Other factors in retail price of petrol and diesel include excise duty, VAT, BS IV premium, marketing cost and margins, dealers commission etc.
