Petrol Price in India
Petrol in India is traded at Rs 96.72 per litre in New Delhi, Rs 106.31 per litre in Mumbai City, Rs 106.03 per litre in Kolkata, Rs 102.63 per litre in Chennai. Earlier the petrol and diesel prices were revised every fortnight, which means the petrol price and diesel price changed on the 1st and the 16th of every month. However, from June 2017, a new scheme was implemented under which petrol prices are being revised every morning at 6 am. The petrol price and diesel rate are being revised on a regular basis due to dynamic fuel pricing.
Today's Petrol And Diesel Prices In Indian Metro Cities
| City | Petrol | Diesel |
|---|---|---|
| New Delhi | 96.72 ₹/L 0.00 | 89.62 ₹/L 0.00 |
| Mumbai City | 106.31 ₹/L 0.00 | 94.27 ₹/L 0.00 |
| Kolkata | 106.03 ₹/L 0.00 | 92.76 ₹/L 0.00 |
| Chennai | 102.63 ₹/L 0.00 | 94.24 ₹/L 0.00 |
City-Wise Petrol And Diesel Prices
| City/District | Petrol | Diesel |
|---|---|---|
| Adilabad | 111.52 ₹/L 0.31 | 99.55 ₹/L 0.29 |
| Agar Malwa | 109.95 ₹/L 0.22 | 95.11 ₹/L 0.21 |
| Agra | 96.77 ₹/L 0.67 | 89.93 ₹/L 0.65 |
| Ahmadnagar | 106.92 ₹/L 0.96 | 93.41 ₹/L 0.92 |
| Ahmedabad | 96.42 ₹/L 0.01 | 92.17 ₹/L 0.01 |
| Aizawl | 95.64 ₹/L 0.00 | 82.12 ₹/L 0.00 |
| Ajmer | 108.46 ₹/L 0.35 | 93.71 ₹/L 0.33 |
| Akola | 106.14 ₹/L 0.00 | 92.69 ₹/L 0.00 |
| Alappuzha | 108.00 ₹/L 0.23 | 96.90 ₹/L 0.21 |
| Aligarh | 96.79 ₹/L 0.08 | 89.94 ₹/L 0.08 |
State-Wise Petrol And Diesel Prices
| State | Petrol | Diesel |
|---|---|---|
| Andaman And Nicobar | 84.10 ₹/L 0.00 | 79.74 ₹/L 0.00 |
| Andhra Pradesh | 111.17 ₹/L 0.72 | 98.96 ₹/L 0.67 |
| Arunachal Pradesh | 95.40 ₹/L 0.00 | 84.66 ₹/L 0.00 |
| Assam | 98.70 ₹/L 0.00 | 90.99 ₹/L 0.00 |
| Bihar | 108.87 ₹/L 0.28 | 95.54 ₹/L 0.26 |
| Chandigarh | 96.20 ₹/L 0.00 | 84.26 ₹/L 0.00 |
| Chhattisgarh | 103.42 ₹/L 0.34 | 96.39 ₹/L 0.33 |
| Dadra And Nagar Haveli | 94.43 ₹/L 0.00 | 89.98 ₹/L 0.00 |
| Daman And Diu | 94.24 ₹/L 0.00 | 89.79 ₹/L 0.00 |
| Delhi | 96.72 ₹/L 0.00 | 89.62 ₹/L 0.00 |
India moving away from fuel subsidy is widely considered one of the most significant economic reforms, giving the government enough room for expanding its social and subsidy expenditure beyond energy – as the country imports almost 85 per cent of its oil needs.
Before June 2017, state-run oil marketing companies revised fuel prices on the 1st and the 16th of every month with the rates set based on the average international crude price and the dollar-rupee exchange rate.
The government, however, decided to move to daily revisions from fortnightly changes to cut down speculative buying in anticipation of price moves and align with global standards for fuel pricing.
So the changes in fuel prices since June 2017 moved to daily revisions based on the Dynamic Fuel Price Methodology.
The price revisions method, or the dynamic fuel price methodology, considers several factors such as international crude prices, the exchange rate of the rupee against the dollar, actual and expected demand, and the trade flow in global crude markets.
In addition, central tax or excise duty, value-added tax (VAT) - which varies from state to state, and retailer commission is included to derive from the retail price of fuel - more than 57 per cent of the retail fuel price per litre goes towards taxes, duties, cess and dealer margins. So those costs included determining the final retail price of fuel at petrol pumps.
Several countries such as the US, Australia, Japan, and Germany have been following the dynamic fuel price methodology for over two decades now. India moving to this regulated method brings parity with those countries on fuel pricing.
