Petrol Price/Rate in Delhi Today

The central excise is the same across the country, but the state VAT is something that varies from state to state. As mentioned in the earlier section, a litre of petrol costs you less in Delhi compared to other three metro cities due to the lower state VAT imposed on petrol in Delhi.

The exchange rate of the USD to the INR is another important consideration. If the INR weakens against the USD, the buying cost of oil will increase; if the INR strengthens against the USD, the buying cost of oil will decrease. Any ups and downs in crude oil prices will equally affect the cost of petrol in Delhi.

How Often Are Petrol Rates in Delhi Revised?

Like any other India city, state-run oil companies such as Indian Oil, Hindustan Petroleum, and Bharat Petroleum dominate the petrol market in New Delhi. All these oil brands are currently revising diesel and petrol prices on a daily basis, which is also called dynamic fuel pricing.

The new pricing system was proposed and implemented by the government of India post mid-June 2017. Every petrol station in Delhi whether automated or non-automated revises fuel prices at 06:00 a.m. each day. Make sure to make a note of updated prices that will be displayed by each bunk.

Fuel prices are presently raising marginally in the city. If you are a retail consumer, daily price revisions will not impact you much. If you are a consumer of petrol in larger quantities, even a minute fall or a hike can make a big difference to your billing amount.

In fact, the new fuel pricing system is in practice throughout the nation. All fuel users whether from Delhi or from other Indian cities are expected to be benefited from the system. The pricing is transparent under the system.

Impact of GST on Petrol Rates in Delhi

As we all know, the oil and natural gas industry has not been brought under the regime of GST till date. It means all types of petroleum products do not have to comply with the GST tax structure that was brought into act in July 2017. However, the industry remains unaffected.

If GST was imposed on petrol, what is the anticipated price of petrol per litre in Delhi?

· A litre of petrol costs you Rs.38.10 in case 12% GST is imposed.

· A litre of petrol costs you Rs.40.05 in case 18% GST is imposed.

· A litre of petrol costs you Rs.43.44 in case 28% GST is imposed.

For Delhi customers, petrol prices would have been cheaper. But, the revenues for the Delhi government would have been adversely affected. The government imposes 27% VAT on petrol and 16.75% VAT on diesel with effective from 1st September 2017.

*Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.

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