Petrol Price in Bangalore Today

Here is everything you need to know about the petrol price in Bangalore today. We have also explored the different factors that determine and impact the cost as well as highlighted the trend of petrol price in Bangalore.

When it comes to deciding the petrol price in Bangalore today, there are several factors at play. Firstly, the price of crude oil is variable, as is the currency exchange ratio of Rupee to US Dollar. Post the purchase of crude oil, oil marketing companies (OMCs) add several other charges. These include the charges of importing, freight charges, customer duties, cost of refining, transfer cost, etc. Once the dealers buy the oil, the central and state taxes, along with the dealer’s commission, get added. While the tax levied by the central government is uniform for all the states, the Value-Added Tax (VAT) levied by the state varies. In 2020, the VAT charged on petrol by the Karnataka state government was raised from 32 percent to a high of 35 per cent.

Luckily, you can continue to save on petroleum purchases irrespective of the fluctuations in global fuel prices. All you need is a credit card! Yes. It is true! With the right credit card, you can enjoy a fuel surcharge waiver every time you buy petrol at partner fuel stations in the country. So, go ahead browse the best card options on Bajaj Markets and apply for credit card for yourself, today!

Petrol price in Bangalore tomorrow may be different from the current petrol price in the city. This is because Bangalore, like all other cities of India, revises the cost of petrol every day. This is as per the June 2017 policy of dynamic fuel pricing. The dealers across the city update the prices at 6 AM, when the oil marketing companies notify them of the same. If you are unsure what the petrol price in Bangalore is, you can simply visit your nearby fuel station and see it displayed on the board. You can also check the present petrol price in Bangalore on the websites and apps of the different oil companies selling automotive fuel.

Petrol prices in Bangalore remain unaffected by GST as all petroleum goods are excluded from the gambit of the tax. However, petrol prices in Bangalore change as per the VAT and excise duties levied by the state and central government, respectively. Currently, both these taxes exceed the 30% mark. In the coming days, if petroleum goods are included under GST, petrol prices in Bangalore may decline. This is because the highest GST tax bracket is set at 28%.

While both petrol and diesel are obtained from crude oil, the prices of the two petroleum commodities differ quite significantly. The end-sale price of each depends on the taxes imposed on them. In other words, the taxation magnitude has a bearing on the end-sale price of both these types of fuel. Historically, diesel prices have been lower than petrol, since the central and state taxes on the product have been lower than those imposed on petrol. 

Currently, the central government’s excise duty on petrol stands at ₹17.98/litre. Excise duty on diesel stands ₹13.83/litre. Additionally, the Karnataka Government charges 32% VAT on petrol and 21% VAT on diesel. This differential taxation makes one litre diesel around ₹12 to ₹13 cheaper than one litre petrol in the city.