Petrol Price in Pune (24th April 2024)
Today's petrol price in Pune is at ₹104.23 per litre, reflecting a slight increase compared to yesterday's rate of ₹103.69. Over the past 10 days, fluctuations have been observed, with prices ranging between ₹103.76 and ₹104.23. 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 Pune
| Date | Price | Price Change |
| Apr 23, 2024 | ₹ 103.69 | -0.24 |
| Apr 22, 2024 | ₹ 103.93 | 0.17 |
| Apr 21, 2024 | ₹ 103.76 | -0.11 |
| Apr 20, 2024 | ₹ 103.87 | -0.32 |
| Apr 19, 2024 | ₹ 104.19 | -0.32 |
| Apr 18, 2024 | ₹ 104.51 | 0.82 |
| Apr 17, 2024 | ₹ 103.69 | -0.24 |
| Apr 16, 2024 | ₹ 103.93 | 0.17 |
| Apr 15, 2024 | ₹ 103.76 | -0.47 |
| Apr 14, 2024 | ₹ 104.23 | -0.41 |
Daily & Monthly Petrol Price in Pune : Graphical Representation
Historical Petrol Price in Pune
- Petrol Rate in Pune, April 2024
- Petrol Rate in Pune, March 2024
- Petrol Rate in Pune, February 2024
- Petrol Rate in Pune, January 2024
- Petrol Rate in Pune, December 2023
- Petrol Rate in Pune, November 2023
- Petrol Rate in Pune, October 2023
Petrol Price Pune in Line with Global Trends
In line with global trends, petrol prices in Pune tend to move in line with global crude prices. Recently, we have seen a solid upswing in prices and this has also led to the city seeing some movement.
Petrol prices in Pune depend upon a host of factors. Among these include, the movement of the rupee against the dollar and also government levied duties.
It is important to note that the prices of the fuel were de regulated and are now linked to market prices. The government does have the liberty to reduce or hike the prices, though excise duty levies of cuts, as the need maybe.
Daily Alter of Petrol Price In Pune
Update of the petrol price is done early morning at 6 am. It would be best if you keep an eye on daily updated petrol rates, before moving for your work. However daily updated petrol prices make minor changes on paise. So if you are fully filling the tank of your two or four-wheeler, a minor change in price might mean a lot for you. So it is recommended to check the daily petrol prices in Pune, before you load petrol in your vehicle at the fuel station.
So you might be thinking what make daily changes in Petrol Prices?
The modification of the rates is primarily based on what the global market condition is. And when foreign crude oil prices rise, the price of Pune also surges.
So if you want to keep yourself updated with daily petrol prices of Pune, it is recommended to go through our website on a daily basis and never miss any new rates.
Why Petrol Price Changes in Pune Every Morning?
Changing petrol prices on a daily basis is completely depended on Global Market petrol prices.
As you know across India, there is no production of petrol. So India must, therefore, import it and we must pay for it to import oil. Thus the price of petrol in Chennai is set based on the varying factors of oil demand and import costs. The rates of each city can differ slightly in the state because of the multiple charges and fuel taxes.
Are Petrol Prices in India falls under GST?
No, currently the prices of petrol in India are not bought under GST. The prices of petrol, diesel, LPG, Autogas, CNG are outside the anvil of GST in India. So far no other country in the world have bought the fuel prices under the GST and India too will have a combination of goods and services tax (GST) and value-added tax (VAT), notes an official who is closely involved with the GST implementation. The timing to bring the petrol and diesel inside the GST will be a political call which both the central government and all the state governments in the country have to take after collective discussions.
How the petrol price in Pune is assessed?
Oil marketing firms halted using the modification framework every fortnight, and developed a new fuel pricing method called dynamic fuel pricing. On 16 June 2017 the new fuel pricing system entered into force. Consequently, in place of twice a month, all non-automated and automated petrol stations throughout the city will assess the petrol rate every day. Other advanced countries, such as Australia, Russia and the United States of America, also has adopted this mechanism. By downloading the smartphone applications developed by all oil marketing firms like Hindustan Petroleum, Indian Oil and Bharat Petroleum, petrol buyers in Pune can access the new petrol prices.
The new price would be modified on all of those oil marketing firms' websites.
After price adjustment at 06:00 a.m., all the fuel stations across the country will revise the price for fuel consumers. Apart from this, the fuel consumers of Pune can also check the latest petrol price of the city through the customer support services which we will discuss below. In India, dynamic fuel pricing or regular adjustment has been introduced to sync oil consumers with market conditions, ensure that fuel pricing is free of government interference, make fuel pricing clear, rapidly pass daily fluctuations in global crude oil prices and exchange rates to end users, implement best stock management strategies and reduce the effect on the work flow of the dealers and oil marketing firms.
How the petrol rate of Pune is driven by the Dynamic Fuel Pricing Mechanism?
After it was launched on June 17, the principle of so-called' dynamic fuel pricing' has become popular. Fuel prices appear to be changed on a regular basis, in accordance with the dollar-rupee currency exchange rate and also the international crude oil level. This price shift happens at 6.00 AM (Indian Standard Time) each day. Therefore, it is often important to check the fuel prices before filling your tank. As of June 17, the competitive fuel pricing system was introduced for all the city's fuel stations.
The key objective of this effort is to implement fuel price stabilisation so that federal agencies can not control or impact the OMCs (Oil Marketing Companies) since Dynamic Fuel Pricing has been introduced in the country. Consequently, due to fluctuations in crude oil rates and the INR-USD exchange rate, it is easy to provide the updated cost to customers, even fuel station dealers may manage their commissions and resources efficiently by supporting the latest framework.
Benefits of OMCs for following Dynamic Fuel Pricing Mechansim
At all fuel stations in Pune, oil marketing companies, including Indian Oil Company Limited, Bharat Petroleum Company Limited (BPCL) and Hindustan Petroleum Company Limited (HPCL), will give their customers the latest fuel prices.
Under this scheme, the adjustment of fuel rates in Pune will be performed on the basis of variations in the prices of crude oil and the currency value. In other words, fuel consumers in Pune are provided market-determined petrol rates. It will eventually express 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, including in Pune in June 2017.
But before that, oil marketing companies (OMCs) used to update fuel prices on the 1st and 16th of the month. The recently adopted fuel revision system offers many advantages to OMCs. Here we list the major ones. Handling capital was a major challenge for OMCs before the regular revision strategy (dynamic fuel pricing). Since June 2017, neither OMCs nor consumers have voiced concerns about supplies. OMCs can decrease the manpower required to run the company under this system. They can therefore reduce operational costs as a result. In addition, the regular revision method 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 completely available to all the fuel consumers on a transparent manner.
Ways to check the revised and correct petrol price of Pune
The price of petrol is regularly changed across all the states and cities of India, thanks to the implementation of Dynamic Fuel Pricing. And it is also very hard to find the right petrol price in Pune. Many methods for monitoring the price of a litre of petrol have been developed by OMCs which are through smartphone apps, SMS services and visiting the official website of the respective oil companies. The following procedure will allow you to check the correct and reliable petrol price of Pune.
Via mobile apps of the Indian Oil Companies- Mobile applications introduced by OMCs are promising the latest fuel cost of any state or city.
Indian Oil consumers can access and use the 'Fuel@IOC' app, while Bharat Petroleum consumers can have the 'SmartDrive' app and Hindustan Petroleum's fuel customers can download and install the 'MY HPCL' app to monitor the transparent petrol price of Pune.
Via SMS service- The following method will allow you to get the existing petrol rate of Pune via the SMS service.
Indian Oil: SMS RSP dealer code and send it to 9224992249
Bharat Petroleum: SMS RSP dealer code and send it to 9223112222
Hindustan Petroleum: SMS HPPRICE dealer code and send it to 9222201122
Via toll-free numbers- Petrol consumers of Pune can check the correct petrol price of the city on the go by dialling the below given toll-free numbers of the specific oil companies.
Indian Oil- 9224992249
Bharat Petroleum-9223112222
Hindustan Petroleum-9222201122
Via website- You can check the official website for Indian Oil, Bharat Petroleum and Hindustan Petroleum to find the exact petrol price of Pune. But in addition to this, Goodreturns.in also helps you to get the correct fuel prices for all cities in India.
Factors influencing petrol prices in Pune
The exchange rate influences the ultimate cost of petrol. Crude oil costs will rise when the USD rises against the INR; crude oil costs will decline when the USD drops in value against the INR. Alterations in the prices of crude oil have a clear influence on the price of retail purchases. Interest rates, inflation rates and a nation's gross public debt affect the exchange rate. India's central bank sets the currency value or exchange rate between USD and INR.
Crude oil is a major product which is imported from international oil marketing companies. In addition, in foreign markets, it is traded. The cost of crude oil has several factors that affect it. The most popular reasons include demand from developed nations for unrefined crude, seasonal variations, weather forecasts, political movements, and refining resources.
Other variables impacting petrol rates are federal excise duty and state VAT.
Why the cost of petrol in Pune is high?
The country's petrol prices were managed and updated every fortnight in the previous period. Because of a plethora of shifts in the political climate in the country, dynamic pricing has been introduced in the recent world, and because of that, prices are adjusting daily. India's fuel prices are just something that both the central government and the state government levy their taxes on, as we are all well aware. This is practically the reason considering which the petrol price vary from state to state across the country. But in the city of Pune, there has been an increase in local taxes and this has consequently impacted the price of petrol in the city. One of the other reasons behind the dramatic rise in the price of petrol in Pune is the impact of variations on the global economy.
Latest Updates on Petrol Price in Pune
The petrol prices were unmoved in Pune on Monday despite witnessing a drop in the global fuel prices amidst the release of reserves and continued lockdown curbs in China. The petrol prices in Pune were seen at Rs 119.91 per litre.
In the international forum, Brent traded at $98.16 per barrel, down by 4.50%, and WTI at $93.54 per barrel, down by 4.80%.
The fuel demand in India, which accounts for the globe's third-biggest crude importer and the consumer has witnessed a sharp rise to a record three-year high in March 2022. The country has seen petrol sales touch a record peak during the previous month.
The ongoing special military operation as referred by Russia in the Ukrainian region has led to the shortfall of crude in the global markets. To balance the situation, the International Energy Agency (IEA) and its member nations have agreed to release 60 million barrels of crude to the markets over the next six months.
The growing number of Omicron cases in China has resulted in mass extended lock-downs, negatively impacting industrial output and domestic consumption. The dragon country is the world's largest oil consumer. UBS analysts note that the demand for crude will likely be affected in China over the next few months.
Meanwhile, the U.S. President - Joe Biden will be holding a virtual meeting with Indian Prime Minister – Narendra Modi on Monday. The White House has made it clear that it does not want to see a rise in Russia's export of fuel to India amidst the ongoing military invasion by Moscow.
11 April 2022
