Petrol Price in Indore

• Today’s Petrol price in Indore is ... per litre.

Indore is the most populous state in India. The state is divided into 75 districts and 18 divisions. As on 31 March 2015, the total number of registered vehicles in the state was 21,635,531. This is a massive number. The petrol price in India is increasing on daily basis. The consumption of petrol is growing with the increasing number of petrol-run vehicles. In the following sections, we discuss a few important aspects related to petrol. Let’s start with the trend of petrol price in MP.

Trend of Petrol Price in Indore for February 2022 (rates per litre):

Monthly Petrol Price Trend in Indore for February 2022:

• In Indore, the price of petrol opened at the rate of Rs.85.58 per litre. When compared to the closing rate of the fuel for the month of January, there was no change in the price.
• Petrol price in Indore fluctuated in the state over the month. The fuel recorded its highest price for the month on 27th and 28th February wherein it stood at the rate of Rs.89.30 per litre. The lowest price was recorded on 1st, 2nd, and 3rd February wherein a litre of petrol was retailing at the rate of Rs.85.58 per litre.
• The overall performance of the fuel witnessed an inclining trend in Indore with the percentage change witnessing an incline of 4.35%.

Trend of Petrol Price in Indore for January 2022 (rates per litre):

Monthly Petrol Price Trend in Indore for January 2022:

• In Indore, the price of petrol opened at the rate of Rs.83.56 per litre. When compared to the closing rate of the fuel for the month of December, there was no change in the price.
• Petrol price in Indore fluctuated in the state over the month. The fuel recorded its highest price for the month from 27th to 31st January wherein it stood at the rate of Rs.85.58 per litre. The lowest price was recorded on 1st, 2nd, and 3rd January wherein a litre of petrol was retailing at the rate of Rs.83.56 per litre.
• The overall performance of the fuel witnessed an inclining trend in Indore with the percentage change witnessing an incline of 2.42%.

Trend of Petrol Price in Indore for December 2021 (rates per litre):

Monthly Petrol Price Trend in Indore for December 2021:

• In Indore, the price of petrol opened at the rate of Rs.82.44 per litre. When compared to the closing rate of the fuel for the month of November, there was a drop of 11 paise in the price.
• Petrol price in Indore fluctuated in the state over the month. The fuel recorded its highest price for the month on 15th and 25th December wherein it stood at the rate of Rs.83.76 per litre. The lowest price was recorded on 1st December wherein a litre of petrol was retailing at the rate of Rs.81.48 per litre.
• The overall performance of the fuel witnessed an inclining trend in Indore with the percentage change witnessing an incline of 2.55%.

Trend of Petrol Price in Indore for November 2021 (rates per litre):

Monthly Petrol Price Trend in Indore for November 2021:

• In Indore, the price of petrol opened at the rate of Rs.81.48 per litre. There was an inclining trend in the price of the fuel over the month with gradual fluctuations.
• Petrol price in Indore fluctuated in the state over the month. The fuel recorded its highest price for the month on 29th November wherein it stood at the rate of Rs.82.62 per litre. The lowest price was recorded on 3rd November wherein a litre of petrol was retailing at the rate of Rs.81.34 per litre.
• The overall performance of the fuel witnessed an inclining trend in Indore with the percentage change witnessing an incline of 1.31%.

Trend of Petrol Price in Indore for October 2021 (rates per litre):

Monthly Petrol Price Trend in Indore for October 2021:

• In Indore, the price of petrol opened the month of October at Rs.81.37 per litre. When compared to the closing price of the previous month, the price of the fuel was down by 18 paise per litre.
• Petrol price in Indore fluctuated in the state over the month. The fuel recorded its highest and lowest price for the month on 31st October while the lowest price was recorded on 3rd October. A litre of petrol was retailed for Rs.81.64 and Rs.81.34 respectively.
• Petrol’s overall performance witnessed an inclining trend in Indore with the percentage change being 0.33%.

Trend of Petrol Price in Indore for September 2021:

Monthly Petrol Price Trend in Indore for February 2022:

• Petrol price in Indore opened the month of September at Rs.95.30 per litre. The price of the fuel was up by 3 paise when compared to the closing price of the previous month.
• Over the month, the price of petrol fluctuated in the state. The fuel recorded its highest and lowest price for the month on 1st and 28th of September when a litre cost Rs.82.30 and Rs.81.34 respectively.
• Petrol’s overall performance witnessed a declining trend in Indore with the percentage change being -0.03%.

Petrol Price in Indore

• Current Petrol Price in Indore is ... per Litre.
• Today’s Petrol price in Indore is ... per litre.

Indore is the most populous state in India. The state is divided into 75 districts and 18 divisions. As on 31 March 2015, the total number of registered vehicles in the state was 21,635,531. This is a massive number. The consumption of petrol is growing with the increasing number of petrol-run vehicles. In the following sections, we discuss a few important aspects related to petrol. Let’s start with the trend in petrol price in Indore.

How Frequently are Petrol Price in Indore Reviewed?

The petrol stations in India can be clubbed into two categories, which include automated petrol bunks and non-automated petrol stations. Automated petrol bunks are less in number in the county and revise the petrol rate automatically. On the other hand, the revision will be done manually by non-automated petrol bunks. The price revision is done at 06:00 a.m. every day. About the next day’s price, dealers will be intimated by oil marketing companies at 08:00 p.m.

Since the implementation of the daily revision, petrol prices in Indore have fallen substantially. The daily revision directly impacts the financial and economic health of any state. Dynamic fuel pricing is beneficial for end petrol consumers and dealers. It ensures 100% fuel pricing transparency. This is the biggest advantage of this method. Dealers can have the best stock management practices in place.

Petrol Price in Indore and Other States

Petrol prices cannot be the same across the country. In some states like Maharashtra, the tax that is imposed on petrol by the local government is comparatively high amid all states. The average prices of petrol per litre were Rs.68.54, Rs.70.89, Rs.68.40, and Rs.71.71 in the Punjab, Tamil Nadu, New Delhi, and West Bengal. The lowest price is being offered by New Delhi. The highest price is being offered by Maharashtra followed by Tamil Nadu.

Elements Impacting Petrol Price in Indore

The exchange rate, the cost of crude oil, the state VAT imposed on petrol, and the central excise duty impact petrol prices in Indore. The value of the Indian currency, which is the INR, keeps changing against the USD. The INR/USD is the most commonly traded currency pair in the foreign exchange market. The exchange rate is fixed by the Reserve Bank of India, which is also called the central bank of India. Crude oil is a global commodity and is traded in the USD. Therefore, the retail selling price of petrol is affected by the exchange rate.

The cost of crude oil rate is another major influencer. As of 25 October 2017, the cost of crude oil per barrel was $49. When the cost of crude oil goes up, the final price of petrol increases. When the cost of crude oil reduces, the retail selling price decreases. Weather conditions, seasonal variations, and global reserves are a few important elements affecting the price of unrefined oil. The state VAT and the central excise also affect petrol rates in Indore.

How is Petrol Price in Indore Responding to GST?

The Goods and Services Tax (GST) has no impact on petrol rates in Indore since petrol has not been brought under the purview of GST. It covers all types of goods and services that are sold within the country. GST came into effect on 1 July 2017. It is the biggest economic reform since independence. GST replaces all types of indirect taxes by offering a combined platform for Indian taxpayers. Five petroleum products including petrol have not been covered under the GST regime.

News Snippets

Petrol rates increased by up to 35 paise across all the metros on 26 January

OMCs that are run by the state increased the prices of petrol by up to 35 paise across all the four metros in India on 26 January 2022. Petrol prices are different in every city due to local taxes. Since India imports more than 80% of its crude requirements, the value of the rupee against the dollar and the crude oil prices in the global markets determine the prices of petrol in the country. Following the revision, the updated prices of petrol in Delhi, Mumbai, Chennai, and Kolkata are at Rs.86.05, Rs.92.62, Rs.88.60, and Rs.87.45 for a litre, respectively.

Petrol rates increased by 31-35 paise in the metropolitan cities

The increase in the rates of petrol continued in the country on Sunday. State-owned Oil Marketing Companies (OMCs) hiked the rates by 35 – 37 paise. Following the daily revision, a litre of petrol cost Rs.79.23 in Delhi, Rs.86.05 in Mumbai, Rs.80.95 in Kolkata, and Rs.82.58 in Chennai. The cost of a litre was the cheapest in the national capital among all the metropolitan cities due to lower taxes. In non-metropolitan cities like Noida, Gurugram, and Bengaluru, a litre was retailed for Rs.80.16, Rs.77.48, and Rs.82.81 respectively. Over the last two weeks, the price charged for a litre of petrol has increased by Rs.7.97 per litre. OMCs have resumed adjusting the rates as per the dynamic pricing scheme since 7 June after an 82-day hiatus as international oil prices have rebounded.

With the country importing more than 80 percent of its total crude requirement, the rates are dependent on international oil rates on a 15-day average and the rupee – U.S. dollar exchange rate.

FAQs

✅ Are petrol prices going to drop?

Union petroleum minister Dharmendra Pradhan said on Tuesday prices of petrol and diesel have gone up after fluctuation in the international markets and will eventually come down. “Due to an increase in prices of crude oil in international markets, consumer price (for petrol and diesel) has risen.

✅ Which country has the cheapest petrol price?

Venezuela has the cheapest price, just $0.02 per liter, followed by Iran ($0.06). Among the top ten cheapest, five countries are located in Asia, four in Africa, and one in South America. Hong Kong has the most expensive price of $2.40, followed by Central African Rep. and the Netherlands.