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Petrol Price in Bhubaneswar (22nd January 2021)

Petrol prices in Bhubaneswar 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 Bhubaneswar ₹ 86.49 (22nd January 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 Bhubaneswar 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.

Jan 22, 2021
₹ 86.49 /Ltr ( ₹ 0.56 )

Last 10 Days Petrol Rate in Bhubaneswar

Date Price Price Change
Jan 21, 2021 ₹ 85.93 ₹ 0.06
Jan 20, 2021 ₹ 85.87 ₹ 0.00
Jan 19, 2021 ₹ 85.87 ₹ 0.43
Jan 18, 2021 ₹ 85.44 ₹ 0.08
Jan 17, 2021 ₹ 85.36 ₹ 0.03
Jan 16, 2021 ₹ 85.33 ₹ -0.03
Jan 15, 2021 ₹ 85.36 ₹ -0.37
Jan 14, 2021 ₹ 85.73 ₹ 0.25
Jan 13, 2021 ₹ 85.48 ₹ 0.68
Jan 12, 2021 ₹ 84.80 ₹ -0.10

Daily & Monthly Petrol Price in Bhubaneswar : Graphical Representation

Historical Petrol Price in Bhubaneswar

  • Trend of Petrol Rate in Bhubaneswar, January 2021
  • Petrol Price
    1st January Rs.84.84
    22nd January Rs.86.49
    Highest rate in January Rs.86.49 on January 22nd
    Lowest Rate in January Rs.84.16 on January 3rd
    Over all performance Rising
    % Change +1.91%
  • Trend of Petrol Rate in Bhubaneswar, December 2020
  • Trend of Petrol Rate in Bhubaneswar, November 2020
  • Trend of Petrol Rate in Bhubaneswar, October 2020
  • Trend of Petrol Rate in Bhubaneswar, September 2020
  • Trend of Petrol Rate in Bhubaneswar, August 2020
  • Trend of Petrol Rate in Bhubaneswar, July 2020

The capital city of Odisha(Bhubaneswar) has a population of over 1.73 million and is among the largest city of India. The number of vehicles in Bhubaneswar is rising at a rapid pace, as other big cities of India. This is the cause why the city's fuel intake is high. Petrol is not processed domestically. It originates from crude oil, a global resource. Bhubaneswar has numerous fuel stations which are operated by Indian Oil, Hindustan Petroleum and Bharat Petroleum. The petrol rates provided by the three firms are almost identical. Because of the price of product and shipping there can be a small difference. It is the VAT of the state that makes the price of petrol vary across all the cities. India follows the United States of America and Australia who daily update fuel prices. Dynamic fuel pricing or the regular modification is called revising fuel rates on a regular basis. And according to this pattern, in Bhubaneswar, all petrol bunks, whether automated or non-automated, can evaluate petrol prices on a regular basis. The upgrade takes place at 06:00 a.m every day. By means of manually non-automated bunks. In the case of mechanical bunks, the revision is automated.  

Following the establishment of the daily fuel revision on 16 June 2017, petrol prices have decreased significantly in the region. Because it affects customers, and dynamic fuel pricing has a direct effect on the financial health of every state. Petrol rates have declined since 16 June 2016 and it is the petrol buyers who are gaining more from this change. In addition, this would continue to generate a positive effect on some form of transportation and foreign trade. 

What are the advantages of Dynamic Fuel Pricing?

Dynamic fuel pricing is based on the currency exchange rate and crude oil rates, much as the previous adjustment method.

Some differences in these predictors can be conveyed to the end users of petrol quickly and effectively. Consumers are, in other words, correlated to market trends. In the regular revision system, petrol pricing is 100 percent transparent, and also helps dealers to follow the latest inventory handling strategies. The adjustment of rate for each day is enforced from 06:00 a.m. after the dynamic fuel pricing implemented on June 2017. The adjustment of rate for each day is enforced from 06:00 a.m. June 16, 2017. Oil marketing firms will keep dealers updated at 08:00 p.m. about the next day's rate. The updated price of petrol can be accessed by petrol consumers in Bhubaneswar either through smartphone apps developed by all oil marketing firms or through online website of the respective oil company. The advantages of customer support services provided by oil marketing companies can also be accessed by the petrol consumers of Bhubaneswar.    

How OMCs are influenced by Dynamic Fuel Pricing mechanism?

 Oil marketing companies will deliver new fuel rates to their consumers at all fuel counters in Bhubaneswar, namely Indian Oil Company Limited (OICL), Bharat Petroleum Company Limited (BPCL) and Hindustan Petroleum Company Limited (HPCL). Under this method, the adjustment of fuel costs in Bhubaneswar will be performed on the basis of variations in the prices of crude oil and the currency value. In other words, fuel consumers in Bhubaneswar are offered market-determined petrol rates. It will eventually transmit the peaks and downs to them. This is a huge gain provided to consumers by dynamic fuel pricing. It was released in all cities in India, as well as in Bhubaneswar in June 2017. Before that, on the 1st and 16th of the month, oil marketing companies (OMCs) always had to regulate fuel prices. The recently adopted fuel revision system brings numerous benefits to OMCs. Here we discuss the major ones. Handling capital was a major challenge for OMCs before the regular revision approach (dynamic fuel pricing). Since June 2017, neither OMCs nor consumers have voiced concerns about resources. OMCs can decrease the workforce required to run the company under this system. They will then reduce running costs as a result. In addition, the regular adjustment process allows OMCs to accurately control the resources needed to conduct day-to-day activities (working capital) and the allocation of capital. They can establish a fuel evaluation and pricing that is easily accessible to them under the current fuel pricing mechanism. 

Solutions for tracking Bhubaneswar's present price of petrol

This is an important aspect that explores the options required for exploiting Bhubaneswar's existing fuel costs. Smartphone applications designed by all OMCs are actually being used by a majority of petrol consumers. Downloading and using mobile apps is convenient. They have tremendous advantages for customers. Details about two-wheeler and four-wheeler insurance can also be found using these apps. The mobile apps of the OMCs can be downloaded and managed by on your smartphone. You can easily download the app of a specific Oil Company without any cost by accessing it from the default app store of your mobile brand. 'My HPCL' is the mobile application of Hindustan Petroleum, 'SmartDrive' is the mobile application of Bharat Petroleum, and Fuel@IOC is the mobile application of Indian Oil. In case you are not a user of smartphone you can track the transparent petrol price of Bhubaneswar through SMS facility and toll-free numbers of the OMCs. But apart from all such mechanisms, you can visit BPCL or IOL or HPCL websites for more details of petrol and diesel in Bhubaneswar. 

Perspectives on the petrol price in Bhubaneswar

Crude oil plays an important role in the perspectives of the petrol price. In India, fuel prices are directly affected by patterns in production and political changes in oil-exporting countries. Crude oil prices are projected to increase if crude-exporting countries implement production declines. Similarly, certain changes in the conversion ratio of USD / INR have an effect. The exchange rate depends on a variety of factors, including the import and export mechanism of India and the United States, bank interest rates charged in both countries and inflation rates in India and the United States. In an everyday basis, the RBI controls the exchange rate.  

 

 

 

 

 

 

 

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