Petrol prices in India operate on a dynamic fuel pricing system, undergoing regular revisions. These revisions occur daily at 6 am, ensuring that even the slightest fluctuation in global oil prices is promptly reflected for fuel users and dealers. The final petrol rate is determined by adding payments to refineries, excise duty, dealer commission, and Value-Added Tax or VAT. Once these factors are accounted for, the retail selling price of petrol nearly doubles. Various factors influence petrol prices, including the Rupee to US dollar exchange rate, crude oil costs, global market indicators, and fuel demand. Consequently, when international crude oil prices rise, fuel prices in India experience an upward trajectory.

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Fuel Price by States (Capital City Fuel Rate Listed Below)

State Petrol Diesel CNG
Andaman And Nicobar 82.42 ₹/L 78.01 ₹/L ----
Andhra Pradesh 109.51 ₹/L 97.36 ₹/L 92.48₹/kg
Arunachal Pradesh 93.48 ₹/L 82.83 ₹/L ----
Assam 97.47 ₹/L 89.71 ₹/L ----
Bihar 107.17 ₹/L 93.89 ₹/L 85.48₹/kg
Chandigarh 94.24 ₹/L 82.40 ₹/L 88.30₹/kg
Chhattisgarh 101.52 ₹/L 94.45 ₹/L 87.75₹/kg
Dadra And Nagar Haveli 92.51 ₹/L 88.00 ₹/L 77.50₹/kg
Daman And Diu 92.39 ₹/L 87.88 ₹/L 75.16₹/kg
Delhi 94.72 ₹/L 87.62 ₹/L 75.09₹/kg
Goa 96.52 ₹/L 88.29 ₹/L 86.50₹/kg
Gujarat 94.53 ₹/L 90.20 ₹/L 79.67₹/kg
Haryana 95.46 ₹/L 88.29 ₹/L 81.50₹/kg
Himachal Pradesh 93.72 ₹/L 86.07 ₹/L 88.50₹/kg
Jammu And Kashmir 98.26 ₹/L 83.68 ₹/L 88.56₹/kg
Jharkhand 98.20 ₹/L 92.94 ₹/L 86.48₹/kg
Karnataka 103.57 ₹/L 89.61 ₹/L 83.00₹/kg
Kerala 105.60 ₹/L 94.59 ₹/L 85.50₹/kg
Madhya Pradesh 107.45 ₹/L 92.77 ₹/L 90.01₹/kg
Maharashtra 104.56 ₹/L 91.08 ₹/L 88.00₹/kg
Manipur 99.08 ₹/L 85.15 ₹/L ----
Meghalaya 94.92 ₹/L 85.89 ₹/L ----
Mizoram 93.93 ₹/L 80.46 ₹/L ----
Nagaland 96.61 ₹/L 87.95 ₹/L ----
Odisha 102.34 ₹/L 93.87 ₹/L 89.17₹/kg
Puducherry 93.94 ₹/L 84.22 ₹/L ----
Punjab 96.80 ₹/L 87.08 ₹/L 87.58₹/kg
Rajasthan 104.52 ₹/L 90.03 ₹/L 91.00₹/kg
Sikkim 100.50 ₹/L 87.80 ₹/L ----
Tamil Nadu 102.00 ₹/L 93.60 ₹/L 86.00₹/kg
Telangana 109.69 ₹/L 97.77 ₹/L 94.00₹/kg
Tripura 96.64 ₹/L 85.72 ₹/L ----
Uttar Pradesh 94.47 ₹/L 87.53 ₹/L 81.17₹/kg
Uttarakhand 93.78 ₹/L 88.55 ₹/L 89.50₹/kg
West Bengal 106.18 ₹/L 92.90 ₹/L 88.50₹/kg

As of June 2017, petrol prices in India began being revised daily, a practice known as the dynamic fuel price method. Both petrol and diesel rates undergo revision at 6:00 am each day. Prior to this, prices were adjusted every fortnight. Several factors influence fuel prices, including the Rupee to US dollar exchange rate, crude oil costs, global market trends, and fuel demand. Notably, when international crude oil prices rise, prices in India follow suit. The price of fuel comprises excise duty, value-added tax (VAT), and dealer commission, with VAT varying from state to state. After factoring in excise duty, dealer commission, and VAT, the retail selling price of petrol nearly doubles.

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Use the FuelPrice Fuel Cost Calculator or apply this formula: Fuel cost = (Distance / Consumption) × Cost per gallon. Fuel cost = (Distance / 100 × Consumption) × Cost per gallon.

  • World Crude Oil Prices: India heavily depends on crude oil imports to fulfill its domestic oil needs. Variations in global crude oil prices directly influence gasoline prices in India. When international oil prices escalate, the expense of importing crude oil rises, consequently impacting the retail price of fuel.
  • Taxes and Duties: Levies imposed by both central and state governments play a substantial role in determining the cost of gasoline in India. Central taxes, like excise duty, and state-level taxes, such as value-added tax (VAT), are imposed on gasoline, thereby elevating its retail price. These taxes are subject to fluctuations based on government policies and revenue needs.
  • Currency Exchange Rates: The exchange rate between the Indian Rupee and the US Dollar plays a crucial role in setting gasoline prices. As crude oil is globally traded in dollars, any depreciation of the rupee against the dollar could result in increased import expenses, thereby influencing gasoline prices.
  • Transportation and Distribution Costs: The expenses involved in transporting and distributing gasoline from refineries to retail outlets are significant determinants of the final price. Factors such as logistical considerations, infrastructure quality, and the distance traveled all influence these costs.
  • Supply and Demand Dynamics: The interplay between supply and demand dynamics can heavily influence gasoline prices. Any discrepancy where demand surpasses supply, or disruptions occur in the production or distribution of gasoline, can lead to price escalations.
It is important to note that fuel prices may vary between states in India due to variations in taxes and local factors. The government regularly reviews and revises fuel prices based on market conditions and prevailing policy decisions.

Oil Marketing Companies (OMCs) such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) primarily determine retail fuel prices in India. These state entities control a significant portion of the fuel market in the country.

The Government of India introduced the dynamic pricing mechanism called the 'Daily Review of Fuel Prices' in June 2017, which led to daily changes in fuel prices in India.

Refineries are paid by Indian Oil Corporation for each litre of fuel, and subsequently, the corporation sells it to distributors at a higher rate than the amount paid to refineries. The retail price is determined by adding excise duty, dealer commission, and VAT to the selling price.

According to the brokerage, the companies have estimated a loss of Rs 1.2 per liter on the sale in the current quarter. However, the combined margin of both fuels has been made positive by a profit of Rs 6.8 per liter.