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Petrol Price in Patna (26th November 2020)

Petrol prices in Patna 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 Patna ₹ 84.31 (26th November 2020), 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 Patna 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.

Nov 26, 2020
₹ 84.31 /Ltr ( ₹ -0.17 )

Last 10 Days Petrol Rate in Patna

Date Price Price Change
Nov 25, 2020 ₹ 84.48 ₹ 0.01
Nov 24, 2020 ₹ 84.47 ₹ -0.01
Nov 23, 2020 ₹ 84.48 ₹ 0.40
Nov 22, 2020 ₹ 84.08 ₹ 0.07
Nov 21, 2020 ₹ 84.01 ₹ 0.14
Nov 20, 2020 ₹ 83.87 ₹ 0.14
Nov 19, 2020 ₹ 83.73 ₹ -0.16
Nov 18, 2020 ₹ 83.89 ₹ 0.16
Nov 17, 2020 ₹ 83.73 ₹ -0.07
Nov 16, 2020 ₹ 83.80 ₹ 0.07

Daily & Monthly Petrol Price in Patna : Graphical Representation

Historical Petrol Price in Patna

  • Trend of Petrol Rate in Patna, November 2020
  • Petrol Price
    1st November Rs.83.73
    26th November Rs.84.31
    Highest rate in November Rs.84.48 on November 23rd
    Lowest Rate in November Rs.83.73 on November 1st
    Over all performance Rising
    % Change +0.69%
  • Trend of Petrol Rate in Patna, October 2020
  • Trend of Petrol Rate in Patna, September 2020
  • Trend of Petrol Rate in Patna, August 2020
  • Trend of Petrol Rate in Patna, July 2020
  • Trend of Petrol Rate in Patna, June 2020
  • Trend of Petrol Rate in Patna, May 2020

Factors influencing Petrol Price in Patna

Though global influences such as international crude oil rates and rupee to US dollar exchange rate have a regular impact on the price of petrol.

Domestic influences such as central and state government taxes, profitability for oil corporations and commission for distributors do not impact the price of petrol in Patna on a regular basis. Any domestic factor adjustment, however, has an effect on Petrol rate thereby. Here's how and why such influences are liable for fluctuations in Patna's petrol prices. 

International crude oil prices: As India imports, more than 70 per cent of its oil necessities from the OPEC nations, crude oil prices on the global market are playing a significant role in petrol price of India. Petrol rates in India are synchronized regularly with international crude oil prices with the introduction of the dynamic fuel pricing mechanism. The unpredictable aspect of the dynamically changing price of crude oil therefore influences the price of petrol in Patna. 

Tax levied by the central government on petrol: This is one of the most domestic factors that influence the petrol price in Patna. Currently, the central government charges an excise duty and this rate remains the same throughout all the states of India. 

Currency exchange rate: Indian oil firms purchase crude oil in US dollars. Indian oil companies buy US dollars of crude oil. On determining the price of petrol in Patna, per US dollar will be exchanged into Indian rupee, based on the current exchange rate the previous day. And the varying value of the currency has constant effects on the cost of petrol. Any moment rupee slips against the US dollar, Indian petrol prices will climb and vice versa. 

Profit margins of oil firms: Oil companies' profit margins influence the price of fuel in Patna and it is among the certain elements that influence the petrol cost of Patna.

Dealer’s commission- The extracted fuel will be acquired by the oil companies' fuel distributors. The sellers keep their own commission which includes transportation cost, fuel pump maintenance cost etc in the cost price of petrol. Indian oil producers normally determine the commission, and it will be updated once per year. Hence, any updates on the commission price, the petrol price of Patna as well as all the cities of India will get influenced. 

Mechanisms for monitoring the petrol price of Patna

The latest fuel updates can easily be tracked via an SMS service or a customer care service run by state-owned oil companies such as Bharat Petroleum (BP), Hindustan Petroleum (HP), Indian Oil and Shell Oil. You can even check the current petrol price of Patna by directly visiting the websites of those oil companies. So if you are fuel consumer of Patna, you can check the current petrol price of Patna by covering any of the methods listed below. With the new pricing mechanism in operation, the present petrol price of Patna is slightly different to the previous day if we compare it on the table that is mentioned on the top of this page. It is quite difficult to confirm today's fuel price in a city; however, OMCs have developed several measures for validating regular petrol prices of Patna. 

Via Mobile Applications: Oil companies have launched their respective smartphone apps for daily tracking or analysis of the price of petrol. The 'Fuel@IOC' app has been released by IOC, the 'SmartDrive' app can be used by BPCL users, while HPCL has released the 'MY HPCL' app to check for the latest petrol rates in a specific region.

Via SMS: Follow the instructions below to verify Patna's petrol rate via SMS.

IOC: SMS RSP dealer code and send it to 9224992249.

HPCL: SMS HPPRICE dealer code and send it to 9222201122.

BPCL: SMS RSP dealer code and send it to 9223112222.

Via website: Furthermore, fuel customers can browse the relevant website of the OMC to check the existing price of fuel in Patna. In addition, consumers can also visit Goodreturns.in on a daily basis to find the latest and right price of petrol across all cities, including Patna. 

Why does the petrol rate in Patna is high?

Previously, fuel prices in the country were controlled and changed every fortnight. Kudos to the Dynamic Fuel Pricing system that was launched on June 17 to regularly change the price of petrol throughout India. Due to a massive variety of shifts in the country's political climate, and because of it, markets are changing regularly. India's oil prices are something that both the central government and the state government impose their taxes on. n fact, this is the reason for the growing differential in the price of petrol in different parts of India. In the case of Patna, there has been a spike in state tax, and this has significantly influenced the cost of petrol in the city. After all, the impact of the global market is one of the reasons behind the sharp rise in petrol prices in Patna. The emergence in the international price of crude oil was intended to have an impact on the price of petrol of the Patna city and other metro cities of India. We can only presume that Patna may withstand the effects of all of this, despite economists who expect certain prices to escalate in the coming months. Another cause is that the market value of the end product can vary based on the complexity involved in refining crude into petrol. Consider Diesel, which is heavier, less volatile, and easier to refine relative to petrol. As a consequence, diesel tends to be slightly cheaper than petrol in most countries around the globe. We have seen the same trend in India also. Consumers use diesel in manufacturing, fields, generators, trucks, etc, compared to petrol, which is primarily found in private vehicles. The nation, then, doesn't levy tax on diesel at all. And as a result, diesel has become typically more affordable.

How the petrol rates are modified in Patna?

With effect from 16 June 2017, with the implementation of dynamic fuel pricing or daily price adjustment, petrol prices in Patna will be updated on a daily basis. Before dynamic pricing, the city's petrol rates were updated every fortnight, i.e. on the 1st and 16th of every month. But nowadays, through regular price adjustments, Patna's fuel codified on a daily basis. As per the new standards, the updated fuel price will be changed by 6 a.m., and the price will be mirrored through all the fuel stations, OMC websites, and smartphone applications provided across India by particular OMCs. Automated central fuel stations will have an automated adjustment in petrol prices, while non-automatic fuel stations will have to do so physically by accessing the revised price from the oil company's official website. Potential customers can download particular oil companies' mobile applications, or they can also follow the SMS service and toll-free numbers to monitor the city's consistent petrol price. 

Impact of GST on petrol in Patna

The Goods and Services Tax (GST) is the new tax regime on all goods and services throughout India. Petroleum products from the GST, however, have been prohibited. Petrol and diesel have the propensity to attract excise duty from the Centre and VAT as duty from the State. Since the top tax bracket under the GST is considerably lower than the overall excise duty and VAT, the taxpayer will be impacted by any decrease in revenue to the Center or the State. Similarly, GST is not applicable to petrol. 

Why the cost of petrol is high in Patna as compared to diesel?

Earlier, fuel prices in the country were monitored and changed every fortnight. According to the Dynamic Fuel Pricing System that was launched on June 17 the petrol price is changed regularly on a daily basis across the country. Because of a plethora of adjustments in the country's political climate, and because of it, prices are changing regularly. India's fuel prices are something that both the central government and the state government impose their taxes against. In fact, this is the reason for the growing differential in the price of petrol in different parts of the nation. In the case of Patna, there has been an increase in state tax, and this has directly influenced the price of petrol in the city. After all course, the impact of the global stage is one of the reasons behind the sharp rise in petrol prices in the city. The spike in the global price of crude oil was anticipated to have an effect on the prices of petrol in Patna as well as all other cities of India.

We can only presume that Patna may withstand the effects of all of this, despite analysts who expect those prices to escalate in the months ahead. Another explanation is that the price of the end product will vary based on the complexity involved in converting oil into the necessary components. Considering Diesel, which is heavier, less volatile, and easier to refine relative to petrol. As a consequence, diesel tends to be slightly cheaper than petrol in most countries around the globe. We see this same trend in India. However, diesel prices sell at a much steeper price around the country because of the imbalanced tax system. Consumers use diesel in plants, fields, generators, trucks, etc, opposed to petrol, which is primarily found in private vehicles. The nation, then, doesn't tax diesel at all as compared to petrol.    

 

 

 

 

> Petrol prices rise in Patna

Petrol prices in Patna which was at 69.85 today crossed Rs 70 and is now at Rs 70.37.

In the last month the petrol price in Patna was below Rs 69, but this month there was a price rise and compared to yesterday the price of the petrol is up by nearly 0.22 paise.

Though, daily price change in petrol price is an issue, individuals have now people adapted to this and there are a lot of people who are now following daily petrol rates. The volatile movement in the petrol prices may not seem like a problem to the vehicle users for the one who uses petrol for cars and bikes. However, increase on account of commercial consumption may get impacted due to the up and down in petrol prices.

4 August 2017

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