Petrol Price in Gujarat Today: Oct 21 2021
Today’s Petrol Price
Current Petrol Price Per Litre
Petrol Price in Gujarat – Last 10 Days Data
|Date||Petrol ( / litre)|
|13 Mar 2021||₹ 88.29|
|12 Mar 2021||₹ 88.29|
|11 Mar 2021||₹ 88.29|
|10 Mar 2021||₹ 88.29|
|09 Mar 2021||₹ 88.29|
|08 Mar 2021||₹ 88.29|
|07 Mar 2021||₹ 88.29|
|06 Mar 2021||₹ 88.29|
|05 Mar 2021||₹ 88.29|
|04 Mar 2021||₹ 88.29|
State-wise Petrol Prices
|Andhra Pradesh||87.24 ₹/L|
|Himachal Pradesh||88.55 ₹/L|
|Jammu And Kashmir||92.11 ₹/L|
|Madhya Pradesh||98.64 ₹/L|
|Tamil Nadu||93.07 ₹/L|
|Uttar Pradesh||88.78 ₹/L|
|West Bengal||91.78 ₹/L|
Petrol Prices in Major Cities
|CITY||PETROL PRICE TODAY|
|New Delhi||₹ 90.19|
Petrol Price in Gujarat
Gujarat is a developed state having large number of petrol-run vehicles. The number of petrol consumers has become huge. The consumption of petrol in Gujarat has risen over the last five years.
Trend of Petrol Price in Gujarat for February 2021 (rates per litre):
|Highest Rate in February||Rs.88.29 on 27th and 28th February|
|Lowest Rate in February||Rs.83.60 on 1st, 2nd, and 3rd February|
- In Gujarat, the price of petrol opened at Rs.83.60 per litre. There was no change in the price when it was compared to the closing price of the previous month.
- The increase in the rates saw petrol record its highest price for the month on 27th February when a litre was retailed for Rs.88.29. Petrol price in Gujarat closed the month at the same price with the overall performance witnessing an inclining trend. The percentage change recorded in the rates stood at 5.61%.
Trend of Petrol Price in Gujarat for January 2021 (rates per litre):
|Highest Rate in January||Rs.81.60 from 27th to 31st January|
|Lowest Rate in January||Rs.81.05 from 1st to 3rd January|
- In Gujarat, petrol was retailed for Rs.81.05 on 1st January. The price of the fuel remained unchanged when the rate was compared to the closing price of December.
- Petrol price in Gujarat closed at Rs.83.60 per litre, the highest recorded price for the month. The overall performance of petrol was one of incline with the percentage change being 3.14%.
Trend of Petrol Price in Gujarat for December 2020 (rates per litre):
|Highest Rate in December||Rs.81.37 on 12th December|
|Lowest Rate in December||Rs.79.91 on 1st December|
- The price of petrol at the start of the month was Rs.79.91 per litre in Gujarat. When compared to the closing price of the previous month, the rate was down by 18 paise for every litre.
- While petrol price in Gujarat slipped immediately following that, it continued to fluctuate till the end of the month. The fuel closed at Rs.81.05 per litre with the overall performance witnessing an inclining trend. The percentage change stood at 1.42%.
Trend of Petrol Price in Gujarat for November 2020 (rates per litre):
|Highest Rate in November||Rs.80.09 on 30th November|
|Lowest Rate in November||Rs.78.30 on 1st, 2nd, 11th, and 16th November|
- In Gujarat, the price of petrol opened at the rate of Rs.78.30 per litre. There was an inclining trend in the price of the fuel over the month with gradual fluctuations.
- The overall performance of the fuel witnessed an inclining trend in Gujarat with the percentage change standing at 2.29%.
Trend of Petrol Price in Gujarat for October 2020 (rates per litre):
|Highest Rate in October||Rs.78.53|
|Lowest Rate in October||Rs.78.30|
- In Gujarat, the price of petrol opened the month of October at Rs.78.48 per litre. The prices started fluctuating on the following days.
- The overall performance of the liquid gold witnessed a declining trend in Gujarat with the percentage change being -0.22%.
Trend of Petrol Price in Gujarat for September 2020 (rates per litre):
|Highest Rate in September||Rs.79.72|
|Lowest Rate in September||Rs.78.30|
- In the month of September, Petrol price in Gujarat opened at the rate of Rs.79.52 per litre. The price of the fuel was up by 5 paise when compared to the closing price of the previous month.
- The overall performance of the liquid gold witnessed a declining trend in Gujarat with the percentage change being –1.31%.
How Frequently are Petrol Prices in Gujarat Reviewed?
You might have seen that petrol prices are revised on a daily basis. The daily revision is also called ‘dynamic fuel pricing’. In early days, there was no transparency with respect to fuel pricing. Under the daily revision, the current petrol rate is marked to market dynamics. If prices of crude oil fall today, the petrol rate will fall tomorrow.
Also any modifications in overseas crude oil prices and the currency conversion rate of the USD to the INR will directly impact the final price of petrol in Gujarat, and also with other states. Fuel rates will be automatically revised by automated petrol pumps and manually by non-automated bunks.
Petrol Costs in Gujarat and Other States
The latest price that was offered at Indian Oil was Rs.67.66. At Bharat Petroleum, it was Rs.67.72. It was Rs.68.8 at Shell Oil. At Hindustan Petroleum, it was Rs.67.62 as on the latest date, which is 12 October 2017. This is applicable to the entire state of Gujarat. In Karnataka, the price of petrol is costlier at Shell Oil followed by Bharat Petroleum, Hindustan Petroleum, and Indian Oil. In Maharashtra, the average price for the last ten was Rs.77.28 until 12 October 2017.
Procedure to Compute Petrol Prices in Gujarat
The following formula is used to compute the final price petrol, which is charged to consumers from all cities of Gujarat:
The final price of petrol = cost of unrefined oil (including freights) + refinery transfer price + profit margin of oil marketing companies + VAT + customs duty + excise duty + commission charged by petrol dealers + pollution cess
A barrel of crude oil, which is equivalent to 159 litres, costs $50 currently. Freight charges includes the expenses incurred by oil marketing companies for shifting crude oil from overseas ports to Indian ports. The refinery transfer price is remitted again by oil marketing entities.
Elements Impacting Petrol Prices in Gujarat
Changes in domestic factors and international factors impact the petrol prices. Prices of crude oil in global markets, the exchange rate, and the tax element have a direct affect the retail selling price of petrol in Gujarat. The key influencers include changes in the currency conversion rate, climate conditions, political events in oil-producing countries, and the quantum of demand for oil from evolving nations. For example, during the rainy season, all activities related to crude oil extraction are likely to be adversely affected.
How are Petrol Prices in Gujarat Responding to GST?
Goods and Services Tax (GST) is a consolidated indirect tax platform. Petrol and petroleum products will not fall under the regime of GST. However, all industry participants continue to pay the existing tax slab. If petrol is brought under the regime of GST, petrol prices will be cheaper for consumers, but the state and central governments stand to lose their revenues drastically.
Diesel Rate vs. Petrol Rates in Gujarat
As on the latest date, the average petrol price in Gujarat was Rs.69.68. The average price of diesel was Rs.61.02 in Gujarat. The state government of Gujarat has cut VAT on petrol by 4% recently. With this reduction, the price of petrol was reduced by Rs.2.72 in the state. The government of Gujarat stands to lose 2,000 crore with this move.
Petrol rates kept unchanged on Tuesday
State-run Oil Marketing Companies (OMCs) on Tuesday kept the price of petrol unchanged in the major cities of the country. The price was kept unchanged for the first time after a period of seven days when the rates were hiked. Following the revision in the rates, a litre of petrol was retailed for Rs.83.71 in the national capital. In Mumbai, Kolkata, and Chennai consumers were required to shell out Rs.90.34, Rs.85.19, and Rs.86.51 respectively for a litre. The price charged for a litre of petrol was the highest in Mumbai among all the metropolitan cities.
In the international oil market, oil rates fell around 1 percent on Monday due to heightened tensions between the United States and China and increasing coronavirus cases across the world. The futures of Brent crude fell by 46 cents or 0.9 percent to be trading at $48.79 per barrel while US West Texas Intermediate (WTI) crude futures were down by 50 cents and settled at $45.76 per barrel.
Petrol rates hiked for 13th consecutive day
The rates of petrol were hiked in the country for the thirteenth consecutive day on Friday. State-run Oil Marketing Companies (OMCs) increased the rates by 56 paise in the national capital. Following the hike, a litre of petrol cost Rs.78.37. In the other three metropolitan cities like Mumbai, Kolkata, and Chennai, consumers were required to shell out Rs.85.21, Rs.80.13, and Rs.81.82 for a litre. The rates of petrol were the cheapest in the national capital among all metropolitan cities due to lower taxes. In the last 12 days, petrol prices have increased by 7.11 per litre in Delhi.
In the international oil market, the rates extended gains from the previous session after members of OPEC and allies promised to meet their supply cut commitments and two major oil traders stated that demand is recovering. The futures of Brent crude increased by 0.43 percent and was trading $41.69 per barrel.
In India, the rates of fuel are revised daily as per the dynamic pricing scheme which was adopted in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the U.S. dollar.
Also, check the petrol price in Goa.
✅ What is the average Petrol price in Gujarat?
The average Petrol price in Gujarat is ₹ 87.61.
✅ What is the costliest Petrol price in Gujarat?
The costliest Petrol price in Gujarat is ₹ 89.73 recorded on 11 March 2021.
✅ Which city has the cheapest Petrol price in Gujarat?
Kheda has the cheapest Petrol price in Gujarat with ₹ 67.2
✅What is the cheapest Petrol price in Gujarat?
The cheapest Petrol price in Gujarat is ₹ 67.2 recorded on 11 March 2021.
Table of Contents
- 1 Petrol Price in Gujarat Today: Oct 21 2021
- 2 Today’s Petrol Price
- 3 Petrol Price in Gujarat – Last 10 Days Data
- 4 State-wise Petrol Prices
- 5 Petrol Prices in Major Cities
- 6 Petrol Price in Gujarat
- 7 Trend of Petrol Price in Gujarat for February 2021 (rates per litre):
- 8 Trend of Petrol Price in Gujarat for January 2021 (rates per litre):
- 9 Trend of Petrol Price in Gujarat for December 2020 (rates per litre):
- 10 Trend of Petrol Price in Gujarat for November 2020 (rates per litre):
- 11 Trend of Petrol Price in Gujarat for October 2020 (rates per litre):
- 12 Trend of Petrol Price in Gujarat for September 2020 (rates per litre):
- 13 How Frequently are Petrol Prices in Gujarat Reviewed?
- 14 Petrol Costs in Gujarat and Other States
- 15 Procedure to Compute Petrol Prices in Gujarat
- 16 Elements Impacting Petrol Prices in Gujarat
- 17 How are Petrol Prices in Gujarat Responding to GST?
- 18 Diesel Rate vs. Petrol Rates in Gujarat
- 19 News Snippets
- 20 FAQs