Today's Petrol Price in Jaipur

Features of Dynamic Fuel Pricing

At all petrol centers in Jaipur, oil marketing enterprises, including Indian Oil Company Limited (OICL), Bharat Petroleum Company Limited (BPCL) and Hindustan Petroleum Company Limited (HPCL), will provide a new price of petrol to its consumers. Under this system, the revision of fuel rates in Jaipur will be done based on movements in crude oil prices and the exchange rate.

In other words, fuel users are offered market-determined petrol price in Jaipur. Any ups and downs will be transmitted to them instantly. This is a major benefit offered by dynamic fuel pricing to customers. It has been introduced in all Indian cities, including Jaipur in June 2017. Prior to it, oil marketing businesses (OMCs) used to review petrol rates on 1st and 16th of every month

Determinants of Petrol Cost in Jaipur

Crude oil has a major role to play. Production levels and political changes in oil-exporting economies directly affect fuel prices in India. If oil exporting countries announced a production cut, cost prices of crude oil bound to increase.

Similarly, any variations in the USD/INR conversion ratio has an impact. The exchange rate is based on many aspects such as the import and export structure of India and the USA, bank interest rates offered in both countries and inflation rates in India and the USA. On a daily basis, the RBI regulates the exchange rate.

Current Fuel Rates in Jaipur vs GST

Goods and Services Tax is one of the largest tax reforms in the Indian tax system. It is a tax system, which removes all types of indirect taxes. GST gives a unified platform for taxpayers and merchants. GST is presently imposed at the highest rate of 25% except petrol. However, GST does not have any effect on fuel prices in Jaipur. If levied, fuel rates in the city will slide by 20-30%. The Central Government cannot execute GST on petrol at current rates since it loses a prime chunk of revenues. The GST Council has to rework on tax rates if it wishes to consider petrol 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.