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.
State | Petrol | Diesel | CNG |
---|---|---|---|
Andaman And Nicobar | 82.46 ₹/L | 78.05 ₹/L | ---- |
Andhra Pradesh | 109.04 ₹/L | 96.92 ₹/L | 84.64₹/kg |
Arunachal Pradesh | 92.66 ₹/L | 82.20 ₹/L | 84.13₹/kg |
Assam | 98.89 ₹/L | 90.09 ₹/L | 85.00₹/kg |
Bihar | 106.94 ₹/L | 93.80 ₹/L | 86.62₹/kg |
Chandigarh | 94.30 ₹/L | 82.45 ₹/L | 88.30₹/kg |
Chhattisgarh | 101.09 ₹/L | 94.02 ₹/L | 81.04₹/kg |
Dadra And Nagar Haveli | 92.51 ₹/L | 88.00 ₹/L | 75.94₹/kg |
Daman And Diu | 92.37 ₹/L | 87.87 ₹/L | 75.94₹/kg |
Delhi | 94.77 ₹/L | 87.67 ₹/L | 75.09₹/kg |
Goa | 97.30 ₹/L | 89.03 ₹/L | 86.50₹/kg |
Gujarat | 94.47 ₹/L | 90.25 ₹/L | 79.02₹/kg |
Haryana | 95.51 ₹/L | 88.35 ₹/L | 83.24₹/kg |
Himachal Pradesh | 93.30 ₹/L | 85.68 ₹/L | 87.11₹/kg |
Jammu And Kashmir | 97.47 ₹/L | 83.32 ₹/L | 88.56₹/kg |
Jharkhand | 98.39 ₹/L | 93.07 ₹/L | 85.84₹/kg |
Karnataka | 103.50 ₹/L | 89.54 ₹/L | 83.21₹/kg |
Kerala | 105.73 ₹/L | 94.72 ₹/L | 86.50₹/kg |
Madhya Pradesh | 107.60 ₹/L | 92.89 ₹/L | 87.46₹/kg |
Maharashtra | 104.39 ₹/L | 91.12 ₹/L | 84.16₹/kg |
Manipur | 99.24 ₹/L | 85.30 ₹/L | 84.13₹/kg |
Meghalaya | 95.76 ₹/L | 87.17 ₹/L | 84.13₹/kg |
Mizoram | 99.05 ₹/L | 87.97 ₹/L | 84.13₹/kg |
Nagaland | 96.66 ₹/L | 88.00 ₹/L | 84.13₹/kg |
Odisha | 102.63 ₹/L | 94.20 ₹/L | 86.82₹/kg |
Puducherry | 93.99 ₹/L | 84.35 ₹/L | ---- |
Punjab | 97.60 ₹/L | 88.11 ₹/L | 88.12₹/kg |
Rajasthan | 104.75 ₹/L | 90.15 ₹/L | 86.60₹/kg |
Sikkim | 101.75 ₹/L | 88.95 ₹/L | 84.13₹/kg |
Tamil Nadu | 102.05 ₹/L | 93.65 ₹/L | 81.81₹/kg |
Telangana | 108.83 ₹/L | 97.10 ₹/L | 93.25₹/kg |
Tripura | 96.28 ₹/L | 85.38 ₹/L | 84.13₹/kg |
Uttar Pradesh | 94.65 ₹/L | 87.69 ₹/L | 87.67₹/kg |
Uttarakhand | 93.81 ₹/L | 89.45 ₹/L | 89.50₹/kg |
West Bengal | 105.74 ₹/L | 92.49 ₹/L | 89.75₹/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.
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.
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.