Petrol Price in India Today

The state-wise petrol prices in India today are mentioned in the table below. The table will help you decipher the state in which the petrol price is highest in India. It will also throw light on the state with the lowest petrol price in India today.

Check out the Fuel-Petrol Cost Calculator to get an idea about your daily and monthly fuel expenses. You can use the Petrol calculator by simply entering the distance you travel every day, the mileage of your vehicle, and the current petrol price in your location to get the daily and monthly travel cost. Our Petrol Expenses Calculator will help you calculate the petrol cost for your journey in India with ease for a well-planned outing.

The cost of petrol in India is updated every morning at 6 AM as per the policy of Dynamic Fuel Pricing. As a result, it is important to check the per litre petrol price in India everyday. Luckily, as over 90% of the retail fuel stations in India are managed by the state-owned oil marketing companies (OMCs), they make the updated petrol price list in India available through online and offline channels. Some of the renowned oil companies you can depend on when it comes to checking the latest petrol price in India are Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL), and Indian Oil Corporation Limited (IOCL). Here is how to do so.

While most items fall under the purview of GST, petroleum products are exempt. Hence, there is no impact of the GST system on the price of petrol in India.

The petrol price in India is composed of several components. These include the price of crude oil in global markets, USD-INR exchange rate, charges levied by the OMCs for logistics, freight, and fuel refining, dealer commission, central excise duty, and Value-Added Tax (VAT).

The price of petrol in India changes every day based on several factors. To understand the breakup of the different components that make up the petrol price, we will consider the applicable charges in Delhi as on June 01, 2021.

At this stage, the petrol is refined and ready to be sent to the fuel stations. This forms the base price of petrol in India. Once the petrol is sold to the dealers, the dealer’s commission and the taxes imposed by the central government are added.

On this, a Value-Added Tax (VAT) is further levied by the state governments. The quantum of tax is different for each state. This is the second part of the taxation applicable on purchasing petrol in India.

₹94.49 was the petrol per litre price in Delhi, India, on June 01, 2021.

The VAT/sales tax percentage imposed by the different states and union territories (UTs) in India is mentioned in the table below:

KL= Kilolitre = 1,000 litre

Note: VAT/Sales Tax at applicable rates are also levied on the dealer’s commission in Arunachal Pradesh, Delhi, Gujarat, Haryana, Madhya Pradesh, Punjab, Rajasthan, Chandigarh, Andaman and Nicobar Islands, Puducherry, and Meghalaya.

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. You heard that right! With the appropriate credit card, you can enjoy a fuel surcharge waiver every time you buy petrol at partner fuel stations in the country. So, go ahead and browse the best card options on Bajaj Markets and apply for a credit card for yourself, today!

The following factors impact the cost of petrol in India:

• Crude Oil pricing is what impacts the rate of petrol in the country the most. It is very dynamic in nature and is commonly known as unrefined oil.

• It is a commonly known fact that petrol prices will change in proportion to changes in the central excise duty and the state VAT.

• Cost of petrol increases when a low refinery consumption ratio comes into effect leading to the formation of low quantities of refined petrol for sale.

• USD is another factor that impacts the cost of petrol in India as it is the base currency to purchase raw oil. Hence, any ups and downs in the oil prices globally, have a direct impact on the cost of petrol in the country.