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Petrol Price in Bhopal (13th May 2021)

Petrol prices in Bhopal have been turning more volatile, as prices of crude oil have been showing a firm trend. It is important to check todays petrol price in Bhopal ₹ 100.08 (12th May 2021), especially if you are going for a long drive. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. The rupee has also moved lower against the dollar, which has made petrol prices in Bhopal more expensive than before. It is hoped that the government can reduce excise duties, so as to enable rates to become more cheaper in the coming days.

May 12, 2021
₹ 100.08 /Ltr ( ₹ 0.25 )

Last 10 Days Petrol Rate in Bhopal

Date Price Price Change
May 11, 2021 ₹ 99.83 ₹ 0.45
May 10, 2021 ₹ 99.38 ₹ 0.10
May 9, 2021 ₹ 99.28 ₹ 0.00
May 8, 2021 ₹ 99.28 ₹ -0.09
May 7, 2021 ₹ 99.37 ₹ 0.60
May 6, 2021 ₹ 98.77 ₹ 0.02
May 5, 2021 ₹ 98.75 ₹ 0.16
May 4, 2021 ₹ 98.59 ₹ 0.18
May 3, 2021 ₹ 98.41 ₹ 0.27
May 2, 2021 ₹ 98.14 ₹ -0.27

Daily & Monthly Petrol Price in Bhopal : Graphical Representation

Historical Petrol Price in Bhopal

  • Trend of Petrol Rate in Bhopal, May 2021
  • Petrol Price
    1st May Rs.98.41
    31st May Rs.100.08
    Highest rate in May Rs.100.08 on May 12th
    Lowest Rate in May Rs.98.14 on May 2nd
    Over all performance Rising
    % Change +1.67%
  • Trend of Petrol Rate in Bhopal, April 2021
  • Trend of Petrol Rate in Bhopal, March 2021
  • Trend of Petrol Rate in Bhopal, February 2021
  • Trend of Petrol Rate in Bhopal, January 2021
  • Trend of Petrol Rate in Bhopal, December 2020
  • Trend of Petrol Rate in Bhopal, November 2020

Daily petrol rate revise in Bhopal

In Bhopal, petrol prices are adjusted every day, contrary to the previous trend of modifying prices once every 15 days.

So, if you're now planning to fill up petrol every day, you can look at today's petrol price of Bhopal by visiting Goodreturns site regularly. In reality, the price of petrol would have been updated at 6 o'clock in the morning. So it would be wise to search for a shift in the daily petrol prices in Bhopal before you leave for work. The frequent adjustment of the petrol prices is likely to only be minimal changes. A minor revision may also mean a tonne if you are going to filling your vehicle fully. Therefore, it becomes necessary to evaluate the daily petrol prices in Bhopal before filling your vehicles with petrol. Note, such rates are generally updated depending on what the global market condition is. Prices would primarily be calculated by India's leading oil marketing firms, namely Indian Oil, Bharat Petroleum and Hindustan Petroleum. Assuming that if you refill the same 30 to 40 litres of petrol, you may appear to lose a lot. By considering this it will be best if you check the petrol price of Bhopal by visiting Goodreturns site regularly.  

How the petrol price of Bhopal is revised?

With impact from 16 June 2017, petrol price of Bhopal revised on a regular basis with the introduction of dynamic fuel pricing or regular price revision.  The city's petrol price are revised every fortnight before dynamic pricing, i.e. on the 1st and 16th of each month. But nowadays, petrol consumers of Bhopal are influenced on a daily basis through regular price revisions. All the filling stations of the city will reflect the new price of on their fuel bunks. The revised fuel price will be adjusted by 6 a.m., as per the new guidelines. The dynamic fuel pricing mechanism is followed by the oil companies of India. The revised price is circulated across the official websites, mobile apps, respective fuel stations by the oil companies every day after the revision. While auto centrally-connected fuel stations will have an automatic petrol price update, non-automatic fuel stations will have to do so physically by accessing the same price from the official website of the oil companies across Bhopal. Fuel consumers of Bhopal can find the revised price of petrol through various methods such as SMS service, toll-free numbers, visiting the official sites of oil firms and smartphone apps of specific oil firms, such as state-owned Indian Oil, Hindustan Petroleum, Bharat Petroleum and private-owned Shell and Essar.  

Framework of Fuel Pricing adopted in Bhopal

To adjust fuel prices, fuel firms have to use a certain approach. They are adhering to dynamic fuel pricing nowadays. It is a framework for fuel evaluation that was introduced in 2017 in India. Depending on the exchange rate (rupee vs. dollar) and the market price of crude oil, oil giants such as IOL, which terms for Indian Oil Company; BPCL, which sits for Bharat Petroleum Corporation Limited; and HPCL, which serves for Hindustan Petroleum Corporation Limited, will propose updating the petrol rate in Bhopal. The fortnightly estimates will no longer be taken into consideration.

The revision of fuel rates in Bhopal appeared to fall on the 1st and 16th of every month prior to dynamic fuel pricing. Mentioned similarly, in a month there used to be two changes. As a result, fuel rates used to change by a significant margin. The petrol rate in Bhopal is addressed quickly on a daily basis due to the introduction of dynamic fuel pricing and the new price is announced at 06:00 a.m across all the state-owned oil firms in the city. Therefore, before you purchase, be sure to check the current price of petrol in Bhopal. 

Does GST is imposed on the petrol rate of Bhopal?

What's the current fixed limit GST regime? It is undoubtedly 28 per cent. Petrol, including petroleum products, is not covered by GST, which is the levy on goods and services. All tax components should be excluded from the existing fuel price analysis of the industry if GST is to be implemented. And if GST were adopted at its peak point, i.e. 28 per cent, the retail selling price (RSP) of petrol would fall by a massive margin. The reform would eliminate the source of revenue from the state government and the central government. It is the central government's jurisdiction under the GST regime to import petrol. Wary of the natural gas and oil sectors? The whole market for oil and natural gas has been placed outside GST's regime. There are several players in the field, ranging from OMCs to operators of fuel bunkers. GST adoption in the sector is projected to have a negative effect on its leaders. For instance, leading players of the sector are obliged to follow with double tax systems, having high operating costs. In required to preserve that petrol is levied under the GST regime and that the cash flow of the state and the central government stays stable, the GST authority may consider raising the tax rate.     

  

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