Petrol Price In Ahmedabad Today

Monthly Petrol Price Trend in Ahmedabad for May 2023

1. Petrol prices opened the month of standing at the rate of Rs.96.41 per litre in Ahmedabad. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
2. The price of the fuel was stable and witnessed no fluctuations during the month of May in Ahmedabad. 
3. In Ahmedabad, the last week of May closed with the price of the fuel standing at the rate of Rs.96.41 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Ahmedabad.

Trend of Petrol Price in Ahmedabad for April 2023 (rates per litre)

Monthly Petrol Price Trend in Ahmedabad for April 2023

1. Petrol prices opened the month of standing at the rate of Rs.96.41 per litre in Ahmedabad. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
2. The price of the fuel was stable and witnessed no fluctuations during the month of April in Ahmedabad.
3. In Ahmedabad, the last week of April closed with the price of the fuel standing at the rate of Rs.96.41 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Ahmedabad.

Trend of Petrol Price in Ahmedabad for March 2023 (rates per litre)

Monthly Petrol Price Trend in Ahmedabad for March 2023 

1. Petrol prices opened the month of standing at the rate of Rs.96.41 per litre in Ahmedabad. When compared to the closing rates of the previous week, there were no changes in the price of the fuel. 
2. The price of the fuel was stable and witnessed no fluctuations during the month of March in Ahmedabad. 
3. In Ahmedabad, the last week of March closed with the price of the fuel standing at the rate of Rs.96.41 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Ahmedabad. 

Trend of Petrol Price in Ahmedabad for February 2023 (rates per litre):

Monthly Petrol Price Trend in Ahmedabad for February 2023

1. Petrol prices opened the month of standing at the rate of Rs.96.41 per litre in Ahmedabad. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
2. The price of the fuel was stable and witnessed no fluctuations during the month of February in Ahmedabad.
3. In Ahmedabad, the last week of February closed with the price of the fuel standing at the rate of Rs.96.41 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Ahmedabad.

Trend of Petrol Price in Ahmedabad for January 2023 (rates per litre):

Monthly Petrol Price Trend in Ahmedabad for January 2023

1. Petrol prices opened the month of standing at the rate of Rs.96.41 per litre in Ahmedabad. When compared to the closing rates of the previous week, there were no changes in the price of the fuel.
2. The price of the fuel was stable and witnessed no fluctuations during the month of January in Ahmedabad.
3. In Ahmedabad, the last week of January closed with the price of the fuel standing at the rate of Rs.96.41 per litre. Over the week, the fuel prices displayed a stability in its overall performance in Ahmedabad.

Fortnightly-based Revision vs. Daily Revision

The fundamental difference between the daily revision and the fortnightly-based revision is the frequency of revision. Despite the frequency, both the fuel pricing mechanisms determine the cost of petrol on the basis of overseas Brent Crude oil and the value of the USD. The earlier fortnightly-based revision was not believed to be transparent whereas the current daily revision ensures transparency in fuel pricing.

Dealers were facing issues related to stock management with the fortnightly-based revision. This is no more a complexity with the daily revision. The new system will augment the capabilities of oil marketing companies to transfer the rates into the economy competently. For instance, if the currency conversion rate fluctuates today, the same will be replicated in the next day's petrol rate. An exchange rate is the quantum of one currency you can exchange for another.

How are Petrol Prices in Ahmedabad Determined?

The government of India has recently introduced a fresh fuel pricing mechanism called 'dynamic fuel pricing or the daily revision' on 16 June 2017. It is a streamlined version of the earlier fortnightly-based revision. As per the new system, all state-run oil marketing companies will update petrol prices in Ahmedabad at 06:00 a.m. every day. It is not twice a month! With the introduction of the daily revision, India joins the United State of America (USA) and Australia that also revise fuel rates regularly.

Computation of Petrol Costs in Ahmedabad

The following steps are followed to compute petrol prices in Ahmedabad:

Step 1: Calculation of the Cost of Crude Oil

The cost of crude oil is the first component of the price structure of petrol and can be computed by taking into account the previous day's Brent Crude oil price and the value of the USD. Let's assume that the cost of a barrel of crude oil (159 litres) is $47 and the value of the USD against the INR is Rs.64. The cost of a litre of crude oil works out to be Rs.20.10.

Step 2: Calculation of operational and transportation costs incurred by oil marketing companies

Oil marketing companies incur both operational costs (including freight charges) and transportation costs. Operational expenses will remain unchanged for a period of six months whereas transportation costs are reviewed once a year. Let's now assume that the operational cost is Rs.5.65 and the transportation cost is Rs.2.68. After the second step, the petrol cost per litre Rs.28.43.

Step 3: The Central Government's Excise Duty

Let's assume that the central government's excise duty is Rs.19.48 per litre. The price of a litre of petrol will now increase to Rs.47.91.

Step 4: Commission charged by dealers

Let's now consider that petrol dealers in Ahmedabad charge 7% commission on a litre of petrol. 7% of Rs.47.91 works out be Rs.3.35. The cost of a litre of petrol now increases to Rs.51.26 after the fourth step.

Step 5: VAT

This the final step where the tax on petrol imposed by the government of Gujarat and pollution cess are added. Petrol is taxed at 28.96% by the Gujrat government. Therefore, 28.96% of Rs.51.26 works out to be Rs.14.85. The cess on pollution charged by the local government is assumed to be 25 paise. Now, the retail price of petrol in Ahmedabad will be Rs.66.36 per litre.

Factors Impacting Petrol Prices in Ahmedabad

As mentioned in the earlier section, the petrol rate is determined by considering global crude oil prices and the value of the USD. These are the two important factors affecting the retail price of petrol in any Indian city including Ahmedabad. The cost of crude oil is likely to increase when global crude oil rates and the value of the USD increase. Similarly, the cost of crude oil will decrease when the value of the USD and overseas crude oil prices decrease. VAT and the central excise duty also influence the petrol price.

Let's now look at the factors that influence the cost of Brent Crude. The primary influencers are the exchange rate, weather conditions, seasonal variations, political moves in oil-producing companies, the supply and demand pattern, and increase demand for crude oil from developing economies. For instance, the cost of crude oil will gain when all activities related to oil extraction get interrupted by undesirable weather conditions.

Impact of GST on Petrol Prices in Ahmedabad

Does GST impact the current petrol rate Certainly, it does not impact. Along with five petroleum products, petrol has been kept outside the regime of GST that was rolled out by the government of India in July 2017. As we all know, the highest tax rate set by the GST Council till date is 28%. Even though petrol is taxed at this rate, the petrol rate in Ahmedabad will drop by 30-35%. It may not be a feasible option from the perspective of the state and central governments, which stand to lose the major source of income. Consumers will benefit.

Petrol Price vs. Diesel Prices in Ahmedabad

The average prices of diesel and petrol in the city after the recent reduction in the excise duty were Rs.63 and Rs.69.92 respectively. With the daily revision in place, petrol and diesel rates are expected to increase slightly over the next 30-60 days.

*Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.