If you are a vehicle owner in India, you may be concerned over the recent rises in petrol prices, especially in metro cities where you may be residing. The petrol price in India is determined by government regulation, and across the nation, it has only been on the rise.
Petrol Price in India
If you are a regular vehicle user and travel from one city to another, either for work or recreation, the petrol price in India will be crucial to keep a track of. Vitally, the constituents that make up the price of petrol are the price of crude oil, charges levied for fuel and freight, logistics charges, Value Added Tax, dealers’ commissions, etc. Below, you can see the current petrol prices (per litre) in India in various metro cities:
- Delhi – Rs. 101.19
- Mumbai – Rs. 107.26
- Hyderabad – Rs. 105.26
- Chennai – Rs. 98.96
- Bengaluru – Rs. 104.70
- Kolkata – Rs. 101.62
Petrol Price in Mumbai
Among all the metro cities in India, the petrol price in Mumbai has been rising fast and is the highest. As one of the most populous metro cities, with several millions of people using vehicles, the rising price in petrol has been detrimental for the common man. It is important to check prices of petrol everyday in Mumbai as dealers revise prices on a daily basis at petrol pumps. Furthermore, it is vital that you know the factors that influence petrol prices in Mumbai, to get an understanding of fluctuations. Here are the key variables that influence petrol prices in Mumbai:
- Crude Oil Cost – The price of crude oil fluctuates with issues of demand and supply, global reserves and exchange rates of currencies. This affects petrol rates in Mumbai.
- Petrol Refining Cost – Oil marketing companies add charges to the base price of petrol as refining process charges and this influences the price of petrol.
- Value Added Tax and Duties – This is imposed by the Maharashtra government, and takes the petrol price high or low. Excise Duty is also levied on the price of petrol and this affects cost too.
- Dealers’ Profits – Dealers need to make a profit on the petrol they sell, and this is added to overall costs they buy it at.
Petrol Price in Delhi
As with Mumbai, the petrol price in Delhi is high as well. Again, in this major metro city and the capital of India, many people use vehicles, not to mention the commercial vehicle flow that is prominent on Delhi roads. The same factors that affect petrol prices in Mumbai, influence the price of petrol in Delhi too. Taxes are kept high, so a large percentage of what you pay as the price of petrol accounts for this. When an analysis was done in February 2021, the combination of taxes levied by the state and central government amounted to 61.3% of the petrol cost in Delhi.
Concluding Remarks
Petrol prices in India are on the rise and the common man is constantly searching for ways to save on fuel purchases. One way you can do this is by getting a fuel credit card from Finserv MARKETS. Theis lets you avail fuel surcharge waivers and gives you rewards that can be redeemed on purchases later.
Sources:
