Today's Petrol Price in Uttarakhand

How is the Petrol Rate in Uttarakhand reviewed?

Before 16 June 2017

Fuel prices in Uttarakhand used to be reviewed twice a fortnight before 16 June 2017. The first revision used to befall on 1 of every of month and the second revision used to befall on 16 of every month. The fortnightly-based fuel revision mechanism was used by Indian Oil Company Limited, Bharat Petroleum Company Limited, Hindustan Petroleum Company Limited and Shell Oil Company Limited for the last 15 years.

After 16 June 2017

The Indian oil marketing corporations had adopted dynamic fuel pricing, a new system for fuel pricing, on 16 June last year. Unlike earlier, the revision of fuel prices is carried out everyday at 06:00 a.m. Transnational crude oil prices and the USD/INR conversion rate form the basis for revising the petrol price in all regions of India, including Uttarakhand. The new fuel pricing system has been successful in India like other countries such as the United States of America, Japan, Russia and Australia.

The first 15 days of dynamic fuel pricing observed a fall in petrol prices in Uttarakhand. After that, they slowly began increasing. Over the last 5 months, they are on the rise. To reduce steadily growing petrol prices, the central excise duty of Rs.2 per litre was cut on 3 October 2017 and 1 February 2018 respectively. The Government of Uttarakhand has not lessened the VAT on petrol through the Central Government had urged it to do so.

Salient features of Dynamic Fuel Pricing

1. It lets fuel consumers pay the market-determined price with no provisions for political influences.
2. The system helps oil marketing companies (OMCs) to lessen the time and capital required to revise fuel prices.
3. Fuel customers are assured of the consistent supply of petrol.
4. 100% transparency in fuel pricing

What is the Petrol Price in Uttarakhand today and how do I get it?

Obtain the current petrol price in Uttarakhand using the mobile applications crafted by all OMCs. It is the best option for smartphone users. OMCs also offer customer care services and SMS alert services for the people who do not use smartphones. The latest petrol rate in Uttarakhand can also be obtained online as many online portals post the revised petrol on a daily basis.

Fuel Rates in Uttarakhand vs INR/USD Rate

The country has a huge demand for crude oil that shall be imported on a contractual basis from OPEC countries.

In 2017, the demand crude oil had increased by 4.5%. This will push the cost price of crude oil that has been currently vending at $66 per barrel.

The conversion rate of the domestic currency of India against the currency of the UAD has a huge impact on the prices on unrefined oil, which will increase if the INR falls against the USD and will decrease if the INR appreciates against the USD.

Today Petrol Price in Uttarakhand vs GST

The Goods and Services Tax has been levied at 28%, 12%, 18% and 5% all goods and services except petrol and the products of petrol. So, the GST leaves no effect on fuel rates in Uttarakhand.