Petrol Price in Gurgaon Today

Here is everything you need to know about the petrol price in the city of Gurgaon today. We scan the price trend over time and understand the different factors that determine and influence the petrol cost in Gurgaon.

The final price of petrol is ascertained after aggregating various costs and margins applicable. Some of the costs are concerned with international factors such as the price of crude oil and the exchange rate of the US Dollar against the Indian Rupee. As crude oil is purchased from the global market and the transaction is completed in US Dollars, the strength of the USD against the Indian Rupee will play a factor in the final price of petrol in Gurgaon.

Then there are local factors that determine the price of petrol in a city like Gurgaon. The demand and supply of petrol in the city added with the refining process contribute towards deciding the price of petrol. Oil industries and traders further add a charge on the price of petrol. The Value-Added Tax (VAT) levied by the Haryana government and the excise duty charged by the central government also play a role in determining the retail petrol price in Gurgaon.

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The Petrol Rates in Gurgaon are computed by taking into consideration a number of variable determinants.These include fluctuating crude oil prices in the global market. The cost of importing the crude oil in the country and the involved USD-INR exchange rate. To this, the central excise duty is added. After importing, the OMCs need to process and refine the crude oil into petroleum. Thus, the industrial costs incurred by the OMCs also needs to be considered while computing the petrol price. Next comes the dealer commissions that includes factors such as their profit margin, transport costs etc. Lastly, each State in India levies its individual VAT to petrol prices. Thus, only after taking into consideration all these costs, the final petrol cost in Gurgaon can be calculated.

The Dynamic Fuel pricing policy was implemented in June 2017. As per the policy, the fuel rates across the country are revised daily on the basis of a number of factors. These factors include the current global crude oil prices, the latest USD-INR exchange rate for importing the crude oil in India, the excise duty levied by the central government on the imported crude oil, the processing fees and refining costs by OMCs, dealer commission, transport costs and the separate VAT levied by different State governments across the country. Since some of these factors such as the global crude oil prices and the exchange rate are highly variable, the petrol prices need to be revised daily as per any fluctuations. 

An important feature of the Dynamic Fuel Pricing policy is that it helps maintain transparency between the OMCs and the end-users. Moreover, since the policy takes into consideration the fluctuating variables, it helps OMCs and dealers to curb losses and better plan their logistics. 

Since June 2017, petrol prices in Gurgaon are revised every day. Due to the recurring change in petrol prices, the process is referred to as dynamic fuel pricing. At 06 AM every day, dealers at various outlets across Gurgaon update the price of petrol for the next 24 hours. The rate of petrol for any given day is displayed on petrol stations across Gurgaon. Consumers can also acquire information on the daily petrol prices on websites and apps of oil companies.

The Goods and Services Tax (GST) is an indirect tax used that was introduced in 2017. Although GST is paid by consumers, it is remitted to the government by the businesses selling the goods and services. However, as petroleum products have been exempted from the Goods and Services Tax, petrol prices in Gurgaon are not affected by GST.

The petrol price in Gurgaon is updated daily. The updated Gurgaon petrol rate for the day is displayed at all petrol pumps in the city from 06 AM onwards. The same can be checked from the mobile apps or websites of top OMCs. Alternatively, you can also avail the SMS facility or call on the toll-free numbers of these OMCs to track the latest petrol price in Gurgaon.