Petrol Price In Gurgaon Today

Petrol consumers in Gurgaon can track the current petrol price through downloading the mobile applications of oil marketing companies including Indian Oil, Bharat Petroleum and Hindustan Petroleum and Shell Oil. They can request the current price through SMS alerts and customer care support. Like mentioned earlier, oil marketing companies will update their websites after revising the price every day.

How are Petrol Prices in Gurgaon Computed?

The Retail Selling Price of petrol in Gurgaon consists of the following elements:

Crude Oil Cost: Crude oil cost is the price charged by Indian oil marketing companies. As on 14 November 2017, the cost of crude oil per barrel was $62.85. One barrel of crude oil is equal to 159 litres. Freight charges are added to crude oil prices.

Taxes: More than 50% of the retail selling price comprises of the central and state levies. The excise duty imposed on petrol as on 04 November 2017 was Rs.19.48 per litre. The local tax levied on the fuel as on the same date was 26.25% in Haryana.

Refinery transfer price (RTP): Refinery transfer price (RTP) is charged by refineries. After importing crude oil, oil marketing companies will deliver it to refineries for further processing. RTP is paid by OMCs.

OMC Expenses: Expenses incurred by oil marketing companies consist of entry levies, operational costs, marketing expenses, distribution expenses and profit margin of OMCs. The commission charged by dealers and pollution cess are other two components of the RSP.

What are the factors affecting Petrol Prices in Gurgaon?

The exchange rate, crude oil rates and taxes are the elements affecting the petrol price in Gurgaon. The exchange rate is the ratio between the value of the INR and the USD. The Central Bank of India, the Reserve Bank of India fixes the exchange rate. The exchange rate is impacted by several factors including interest parity rates, interest rates, exports and imports, the overall public debt of a country and the inflation rate. There are many factors that influence crude oil prices. The most common factors include seasonal variations, weather conditions, the capabilities of refineries, political moves in oil-producing nations and many more.

The retail Selling Price of Petrol increases if:

1. The INR falls against the USD
2. Crude oil prices increase
3. The central excise duty increases
4. The local tax increases

The retail Selling Price of Petrol decreases if:

1. The INR gains against the USD
2. Crude oil rates decrease
3. The local tax (state VAT) decrease
4. The central excise duty decrease

Impact of GST on petrol prices in Gurgaon

GST Impact on Petrol Costs in Gurgaon

Let's take a look at how much is taxed on petrol.

21.5% of the retail price of petrol goes towards the state and 32% to the central government. How does GST affect petrol prices in Gurgaon?

If GST is imposed at 12%, the cost per litre will be Rs.38.10.

If GST is imposed at 18%, the cost per litre will be Rs.40.05.

If GST is imposed at 28%, the cost per litre will be Rs.43.44.

The Goods and Services Tax (GST) is a comprehensive tax system introduced in India in July 2017. It is imposed on various types of commodities and services at 5%, 12%, 18% and 28% currently. GST does not affect petrol prices in Gurgaon since petrol has not been included under the GST regime.

*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.