Petrol Price in Visakhapatnam (20th April 2024)
Today's petrol price in Visakhapatnam stands at ₹108.29 per litre. No change recorded in petrol's price compared to yesterday. In the last 1 month, the petrol price in Visakhapatnam has been fluctuating between ₹108.39 and ₹108.29 .You can also view today's petrol prices in other districts of Andhra Pradesh and compare them with the rates from the previous day, which already include state taxes.
Last 10 Days Petrol Rate in Visakhapatnam
| Date | Price | Price Change |
| Apr 19, 2024 | ₹ 108.29 | 0.00 |
| Apr 18, 2024 | ₹ 108.29 | 0.00 |
| Apr 17, 2024 | ₹ 108.29 | 0.00 |
| Apr 16, 2024 | ₹ 108.29 | 0.00 |
| Apr 15, 2024 | ₹ 108.29 | 0.00 |
| Apr 14, 2024 | ₹ 108.29 | 0.00 |
| Apr 13, 2024 | ₹ 108.29 | 0.00 |
| Apr 12, 2024 | ₹ 108.29 | 0.00 |
| Apr 11, 2024 | ₹ 108.29 | -0.10 |
| Apr 10, 2024 | ₹ 108.39 | 0.10 |
Daily & Monthly Petrol Price in Visakhapatnam : Graphical Representation
Historical Petrol Price in Visakhapatnam
- Petrol Rate in Visakhapatnam, April 2024
- Petrol Rate in Visakhapatnam, March 2024
- Petrol Rate in Visakhapatnam, February 2024
- Petrol Rate in Visakhapatnam, January 2024
- Petrol Rate in Visakhapatnam, December 2023
- Petrol Rate in Visakhapatnam, November 2023
- Petrol Rate in Visakhapatnam, October 2023
It is mandated to check the petrol price on a regular basis before you go for your work. In Visakhapatnam, petrol rates are rising more and more unlike in the past where petrol prices were rising every fortnight. Changing petrol prices in Visakhapatnam is totally dependent on the price of petrol in the global market. Thus the rate of petrol in Visakhapatnam is dependent on the varying factors of demand for oil and the expense of imports. The petrol price of Visakhapatnam is somewhat different from the other cities of Andhra Pradesh because of the multiple tariffs and fuel taxes.
Daily Changing of Petrol Prices in Visakhapatnam
The price will be changed by oil companies including Indian Oil, Bharat Petroleum and Hindustan Petroleum in the early hours of the morning which will be performed at 6 am every day. It is a smart routine to check up to date regular prices of petrol before going to work.
Tariff changes in petrol are based primarily on global market factors. And Visakhapatnam's petrol price is also rising as rates of foreign crude oil are increasing.
It is suggested to go regular via our site and never miss the daily petrol price of Visakhapatnam.
Need for Petrol
Petrol is the most essential source of energy which is one of the most sought out forms of the source of energy in modern times. The petroleum products are mostly used as a source of energy as it is rich in combustible carbon which results in the production of electricity which can be used for running heat engines. The increase in the total number of vehicles in India has increased the demand for fuel in the country which mainly depends on imports to meet the domestic requirements.
Raw petroleum is also popularly known as ‘Crude oil’.
This finds its usage in transportation, material production and generation of electricity.
As petrol is used in most of the daily activities and today 90% of the vehicular fuel needs are met by oil. The petroleum products make up to 40 per cent of the total energy consumption in the United States of America, but it produces only 1% of electricity generation. The use of petroleum as a dense energy source for most of the vehicles, its portable nature and its use as a base for many industrial chemicals has made it one of the world’s most important commodities, without which most of the daily operations will come to a halt.
How to validate the correct petrol price of Visakhapatnam regularly?
The current fuel updates can be easily tracked through 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. But apart from this, you can also check the latest price of Visakhapatnam by visiting the websites of any of those oil companies. Based on the procedures below, Visakhapatnam's fuel customers can search the existing Visakhapatnam price from the convenience of their home and workplace.
Through mobile apps of the oil firms: Oil corporations have revealed 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 released by BPCL and 'MY HPCL' app released by HPCL to check for the latest petrol of Visakhapatnam on a regular basis,
Through SMS: You can also check the latest petrol price of Visakhapatnam by sending an SMS according to the below given format.
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.
Through website: Moreover, fuel consumers can access the particular OMC sites to check Visakhapatnam's new petrol price. In addition , consumers can also visit Goodreturns.in on a daily basis to find the latest and right price of petrol for all cities, including Visakhapatnam.
Petrol Price in Visakhapatnam
Visakhapatnam is located along India's east coastal area and also the city is also headquarters of Indian Navy's Eastern Naval Base. Visakhapatnam, or Vizag is among the most populous city among the state and also India. With a population of more than 70 lakh the city has the current GDP of Rs.11.0 lakh crore (US$150 billion) (2020–21). Visakhapatnam has developed into a metropolitan city. With a growing number of migrants, Vizag has seen a rise in motor vehicles including two-wheelers and four-wheelers. The Visakhapatnam public transportation consists of state-run vehicles, private cabs, taxi services and more. Consumption of fuel has increased in conjunction with the population of vehicles in the area, particularly petrol with the rise in density of personal vehicles. The city has much petrol pump outlets run primarily by state-owned oil companies including Indian Oil, Hindustan Petroleum and Bharat Petroleum, and others. With the price of petrol changing every day in Visakhapatnam, let's examine the key factors that influence the price of fuel in Visakhapatnam. India continues the regular revision of the fuel price, launched on 16 June 2017, where any petrol pump or filling station managed and owned by the country's oil firms such as IOCL, BPCL and HPCL update the petrol price of the city at 6 a.m. IST every day.
Introduction of Dynamic Fuel Pricing
Dynamic fuel pricing was introduced in India to remove political effect on fuel pricing, guaranteed 100 percent fuel price accuracy, integrate petrol customers with market dynamics, quickly transfer ups and downs in foreign crude oil price to end-users, reduce the pressure on the cash flow of dealers and oil marketing firms, and promote private holders in the fuel retailing sector.
Until dynamic pricing the petrol price of Visakhapatnam was updated on a fortnight basis i.e. on the 1st and 16th of every month. But now, dynamic fuel pricing is adopted on a regular basis in the city. As per the new framework, the revised fuel price will be changed by 6 a.m, and all oil firms will also show the modified price through their respective filling stations, mobile applications, and authorrized sites in India. In terms of this automated centrally-connected filling station, the price will be modified automatically and non-automated fuel bunks will have to update the new price through manually by extracting the price from the authorized portal of the respective oil company. The mobile apps of specific oil companies, such as state-owned Indian Oil, Hindustan Petroleum, Bharat Petroleum, and private-owned Shell and Essar, can be downloaded and installed by the fuel consumers of the city without any hidden charges. In addition, customers can also use the SMS service and toll-free numbers of the respected oil firms to track the updated petrol price of Visakhapatnam. You can visit our site i.e. Goodreturns.in as a petrol user from Visakhapatnam or any other area, to check the correct and revised petrol and diesel price of your city.
How the Dynamic Fuel Pricing influences the petrol prices in Visakhapatnam?
The framework referred to as 'dynamic fuel pricing' was generally accepted since its implementation on June 17. In accordance with the currency exchange ratio between the USD and the INR as well as the price of crude oil, fuel rates begin to change on a daily basis. Additionally, before loading your tank, checking fuel prices is always important. Whereas Visakhapatnam was affected, from 17 June onward, all fuel stations followed the dynamic fuel pricing model throughout the city. While Dynamic Fuel Pricing has been adopted in the nation, the key goal of the initiative is to increase fuel price flexibility so that federal agencies can not regulate or manipulate the OMCs' (Oil Marketing Companies).
As a result, due to the variations in crude oil rates and the INR-USD exchange rate, the revised rates can quickly be distributed to consumers, and even fuel station dealers can handle their profits and cash effectively by adopting the new framework.
What is the impact of GST on petrol price in Visakhapatnam
Indian consumers pay GST on all types of goods and services. GST entered into operation on 1 July 2017. All Indian taxpayers are put under a single framework called GST. In the GST system, petrol and diesel are not classified. However, the current GST threshold does not have any effect on the state's petrol prices. It is estimated that the price of fuel will decline by at least 30 percent if GST is imposed on petrol.
Factors influencing the petrol rate in Visakhapatnam
Seeing as we know how the price of fuel is measured, let's look at the essential aspects that impact the price of petrol.
Global factor- The global price of crude oil, as stated, provides the premise price for a litre of petrol cities in India. The price of petrol in Visakhapatnam is strongly influenced by any shift in the price of a barrel of crude oil. Oil-marketing companies (OMCs) buy and process crude or unrefined oil on the international market from oil-producing countries. Even so, the price of crude oil is not stable and tends to increase or decrease on the basis of demand, any fall in supply, or for geopolitical purposes. India still buys crude oil in US dollars, so any improvement in the exchange value influences the price of petrol.
Domestic Factor: Though there are many domestic variables affecting the price of petrol in Visakhapatnam, the taxes it faces are the main factor. Although the federal government imposed the excise tax, the Value Added Tax (VAT) is levied by the state government.
Both this tax is imposed on 1 litre of petrol in the city. The petrol rate in the city is also affected, apart from taxation, by the profit margin of the OMCs and the dealer commission, which distributes and stores petrol and operates fuel stations.
