Petrol Price in Nagpur (26th April 2024)
Today's petrol price in Nagpur is at ₹104.20 per litre, reflecting a slight decrease compared to yesterday's rate of ₹104.34. Over the past 10 days, fluctuations have been observed, with prices ranging between ₹103.96 and ₹104.20. You can also view today's petrol prices in other districts of Maharashtra and compare them with the rates from the previous day, which already include state taxes.
Last 10 Days Petrol Rate in Nagpur
| Date | Price | Price Change |
| Apr 24, 2024 | ₹ 104.34 | 0.35 |
| Apr 23, 2024 | ₹ 103.99 | -0.13 |
| Apr 22, 2024 | ₹ 104.12 | 0.16 |
| Apr 21, 2024 | ₹ 103.96 | -0.56 |
| Apr 20, 2024 | ₹ 104.52 | 0.36 |
| Apr 19, 2024 | ₹ 104.16 | 0.22 |
| Apr 18, 2024 | ₹ 103.94 | -0.02 |
| Apr 17, 2024 | ₹ 103.96 | 0.00 |
| Apr 16, 2024 | ₹ 103.96 | 0.00 |
| Apr 15, 2024 | ₹ 103.96 | 0.00 |
Daily & Monthly Petrol Price in Nagpur : Graphical Representation
Historical Petrol Price in Nagpur
- Petrol Rate in Nagpur, April 2024
- Petrol Rate in Nagpur, March 2024
- Petrol Rate in Nagpur, February 2024
- Petrol Rate in Nagpur, January 2024
- Petrol Rate in Nagpur, December 2023
- Petrol Rate in Nagpur, November 2023
- Petrol Rate in Nagpur, October 2023
Petrol price in Nagpur
This page provides you a thorough overview of Nagpur's petrol rates, which is Maharashtra's third largest city after Pune and Mumbai. The petrol price or the retail selling price (RSP) which is paid by a fuel consumer of Nagpur is includes the state tax imposed by the Maharashtra government as well as the central excise duty imposed by the central government of India. The fluctuations in price of crude oil and INR/USD exchange rate are the two factors which influences the RSP of petrol of Nagpur which is modified on a daily basis. Currently, there is regular adjustment of the petrol price. This regular revision is called as dynamic fuel pricing. The dynamic fuel pricing system has been followed by all oil marketing companies including Hindustan Petroleum, Bharat Petroleum, Indian Oil and Shell Oil to monitor both petrol and diesel prices. This latest system started running in India on 16 June 2017. This system makes all the petrol stations to update the daily price change at 06:00 a.m. across the city. The updated fuel price would also be posted to the official websites of the oil marketing companies and Goodreturns.in
Previously, fuel prices were updated on the first and sixteenth of each month. In the current system, variations in crude oil markets and the exchange rate for currencies are rapidly reflected in the price billed to end customers. And fuel consumers of Nagpur can check the petrol price of the city on a daily basis by visiting Goodreturns.
How the petrol rate is revised in Nagpur?
From the perspective of petrol buyers in Nagpur, this paragraph is incredibly meaningful. The petrol price adjustment is actually carried out on a regular basis. Dynamic fuel pricing is considered the daily adjustment. The dynamic fuel pricing mechanism has been followed by all oil marketing companies including Hindustan Petroleum, Bharat Petroleum, Indian Oil and Shell Oil to evaluate both petrol and diesel prices.
This new system started running in India on 16 June 2017. All Nagpur fuel stations will now update the fuel price at 06:00 a.m. every day. The updated price of the fuel will be uploaded to the oil marketing companies' websites for public access. Previously, fuel prices were updated on the first and sixteenth of each month. The shifts in crude oil rates and the currency exchange rate are rapidly mirrored under the current regime in the Retail Selling Price of petrol in the Nagpur city.
How the petrol price of Nagpur is influenced by Dynamic Fuel Pricing?
The concept of so-called "dynamic fuel pricing" has become common since it was introduced on June 17. Fuel rates tend to adjust on a daily basis, in accordance with the currency exchange rate between dollar and rupee and also the cost of foreign crude oil. This price change is performed every day at 6.00 AM (Indian Standard Time). Therefore, before loading your tank, checking the fuel prices is always important. The dynamic fuel pricing scheme was initiated for all petrol stations throughout the city as of June 17. Since Dynamic Fuel Pricing has been adopted in the nation, the key goal of this initiative is to enforce fuel price stability so that federal agencies do not manipulate or influence the OMCs (Oil Marketing Companies). Therefore, due to volatility in crude oil prices and the INR-USD exchange rate, the revised cost can be easily provided to consumers, even fuel station dealers can handle their commissions and capital conveniently by adopting the new mechanism.
Dynamic Fuel Pricing Mechanism vs Fortnightly-based Revision
The adjustment period is the basic subtle distinction between the dynamic modification and the modification based on a fortnightly basis. Considering the duration, the cost of petrol on the subject of international Brent Crude Oil and the currency exchange value between USD and INR are measured by all the fuel pricing strategies.
The price of petrol or diesel in the mechanism is not considered to be correct under the earlier mechanism. The ongoing regular revision guarantees stability in fuel prices. With the fortnight-based modification, dealers faced stock management difficulties, but nowadays there is no doubt an issue with the dynamic fuel process. In order to successfully transfer costs to the customer, the new mechanism will boost the operation of the oil marketing firms. For example, if today's currency exchange rate increases, the same will be reflected in the petrol market for the next day.
Components influencing petrol rates in Nagpur
The petrol rate is calculated, as stated in previous parts, by the factoring of crude oil prices and the currency exchange value between USD and INR. Because these are the two significant factors in any Indian region, including Nagpur, that influence the retail price of petrol. As global crude oil prices and the rate of the USD increase, the price of crude oil is expected to grow. Similarly, as the price of US and offshore crude oil declines, the price of crude oil will also decline. The price of fuel is also calculated by VAT and the federal excise tax. Now let's look at the factors driving Brent Oil's price.
The key influencers are currency variations, environmental conditions, seasonal changes, political changes in the oil-producing industries, trends of supply and demand, and increasing demand for emerging countries for crude oil. For example, when all activities related to oil production are disrupted by adverse weather conditions, the cost of crude oil will rise.
Methods to track the accurate petrol rate of Nagpur
The price of petrol is revised on a daily basis in Nagpur as well as in cities / states throughout India due to the launch of the Dynamic Fuel pricing model.
Consequently, it is challenging for Nagpur's petrol customers to verify the city's transparent petrol rate due to the frequent adjustments in the petrol price. Via SMS, Via Mobile Applications, Via Toll-Free Numbers through the Official Websites of the OMCs, the OMCs, have introduced these ways to monitor the straightforward petrol cost of any region and this are followed by a number of petrol consumers today across India. The four ways mentioned below will help to record the petrol price of Nagpur anytime anywhere.
SMS- The current and precise fuel price of Nagpur can be easily tracked via the SMS service. Just follow the format of the SMS given below.
- Fuel consumers of Indian Oil: SMS RSP dealer code and send it to 9224992249
- Fuel consumers of Bharat Petroleum: SMS RSP dealer code and send it to 9223112222
- Fuel consumers of Hindustan Petroleum: SMS HPPRICE dealer code and send it to 9222201122
Toll-free numbers of the OMCs- You can also get the accurate petrol price from Nagpur by calling the toll-free numbers of the particular OMCs given below.
- Indian Oil- 9224992249
- Bharat Petroleum-9223112222
- Hindustan Petroleum-9222201122
Mobile apps of the OMCs- OMCs also launched apps for smartphones that deliver a city 's latest fuel price. Indian Oil customers can download and use the 'Fuel@IOC' app, whereas Bharat Petroleum customers can use the 'SmartDrive' app and Hindustan Petroleum fuel purchasers can use the 'MY HPCL' app to record the transparent petrol price of Nagpur or any other city in India.
Web portals- To determine the exact fuel price of Nagpur, you can follow the specific websites of the OMCs. Although Goodreturns.in also enables you, in comparison to this, to check the correct fuel prices for all cities in India.
3 Major Components That Are Influencing The Regular Change of Petrol Rate in Nagpur
The numerous elements that impact Nagpur's retail price of petrol are described below.
Retail Selling Price- The retail selling price (RSP) is identified considering a variety of factors.
Each fortnight, the Indian Basket Crude Oil average price is estimated. This expense per barrel will be in dollars. The value of Indian rupees also refers to the average fortnight conversion rate.
Cost of crude oil- Indian oil traders import crude oil from international oil trading companies. The cost is paid or billed in the USD, which is the usual financial foreign currency because it is transacted on global markets. Crude oil is then extracted and distilled to acquire petrol. To generate petrol, crude oil is transported and refined. Crude oil prices, also known as the Refinery Transfer Price (RTP), are subject to price levels of freight and refining charges. This is the charge paid to the refineries by the OMCs (Oil Marketing Companies), such as IOCL, BPCL & HPCL. Some margin is kept by OMCs and then distributed to the dealer of the fuel station.
Tax- In effect, 2 different taxes are the Central Excise Duty (enforced by the central government) and VAT (Value Added Tax) imposed by the state government. These taxes are calculated for the costs charged to the retailer / owner of the filling station. And after the enforcement of the Central Excise and VAT, which varies from state to state, the dealers' commission is faced to the price.
