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Petrol price in India is revised every day after adapting to dynamic pricing mechanism. Get today’s latest updated petrol price in Petrol Price In Jaipur
08 April 2020
₹ 75.57 /L
₹ 73.33 /L
Jaipur is the capital city of Rajasthan. The largest city in the state is
also very culturally rich, artistic and historic. Jaipur is a city of
palaces, forts and other monuments, making it one of the most socially rich
urban cities in the country. It has a population of about 32 lakhs and an
area of 484 square kilometres.
Jaipur has seen its economy grow over the last few decades. Tourism is the
main stay of the economy but many large and small scale industries have
been set up. It is one of the largest exporters of diamond, gold and
precious stone jewellery. It is also emerging as a global outsourcing
destination as well with large BPO set ups by Genpact, Infosys amongst many
others. The city contributes a whopping $24 billion GDP to the country.
Transportation facility in the city of Jaipur is still developing. Public
transportation is quite understated. With growing traffic conditions, the
city has been undergoing further development in the area of transportation.
The Jaipur Metro is the latest addition to the transportation
infrastructure. It is the 6thcity in the country have the metro
facility. The low floor buses is another mode of public transport that is
widely used by the citizens. The comfortable access and wide network of
such buses contributes to the excellent infrastructure in the city. Since
the city has both urban and historic areas, accessing the narrow routes of
the Old city is quite a challenge. Hence, people prefer using the
e-rickshaws which are compact an easy to manoeuvre on these old roads. The
most preferred and 24x7 available public transport system is the good old
autorickshaw. Pocket friendly and quickly available, it is still considered
as the most dependable transportation option.
Despite a robust public transportation system, many people prefer using
their personal mode of transport like bikes, scooters, cars etc. This adds
to the number of wheels on the road and leads to congestion. However, it is
easier and faster to reach one’s destination if you don’t have to depend on
public transportation. As per the transport department of the Government of
Rajasthan, total of 1.59lac vehicles were registered in Jaipur city alone
in the year 2017.
The petrol price has been on a rise for quite some time in the city. The
city is recording a high price of about Rs. 82/litre in the past of few
days. The analysis of petrol pricing in the city of Jaipur can be noted
The petrol price in Jaipur has been hovering above Rs. 80 per litre for
months now. It is only expected to go upwards due to many factors like
geopolitical and economic influences. Petrol prices are affected by many
factors in India.
In the recent past, there have been many trade wars and stiff geo-political
issues amongst nations. This has had a strong influence on the global trade
and created a strong reason for pushing fuel prices upwards.
Petrol prices are dependent on the crude oil prices globally. As a country,
we import crude oil to process it further into many other forms for
consumption. The supply of crude oil is controlled by the OPEC countries
(Organization of Petroleum Exporting Countries). In the recent past, the
supply and production of crude oil has been curbed. This has led to a high
demand and high prices globally which affects the common man directly in
There are high taxes levied by the Central & State Governments in our
country. They earn revenue easily through these taxes. This varies across
the states and is one of the main reasons for petrol prices to remain high.
The petrol price in Jaipur has increased by more than Rs. 25 per litre
since July 2010. At Rs. 47.93 per litre in July 2010 to today, at Rs. 85
per litre, it has only been a journey of highs in this segment.
There is an elaborate process of determining of the pricing of petrol
prices in India. A number of components constitute the pricing mechanism of
petrol, that is, Retail Selling Price of petrol (RSP). The Indian Oil
Marketing companies like IOCL, BPCL, and HPCL etc. use a particular method
called as Trade Parity Pricing methodology to calculate the RSP. Since
2010, the petrol prices have been linked directly to the international
crude oil prices. This method calculated the price of petrol on the basis
of the assumption that 80% of the fuel is imported in India and 20%
exported. That means, the import parity price is 80% and 20% constitutes
the Export parity price.
Export Parity Pricing: This price is the amount realized by the Oil
Marketing Companies on the export of petroleum products. FOB and ALB
(advance License Benefit) for duty free import of the crude oil is included
in this pricing. ALB is currently charged at zero due to the abolishment of
the Customs Duty of Crude Oil from 2011 onwards.
Import Parity Price: It includes the FOB charges (Free on Board), Ocean
Freight, Custom Duties, Insurance and Port dues. This total price is paid
by the importers at the port.
There have been many debates on this pricing method done by the government.
Critics of this method say that this is done purely to protect the
interests of the OMCs and the PSUs involved in the Petroleum refining
business. This method also made sense only when the petrol prices were
controlled by the Government. However, in the current scenario, where
petrol prices are linked to international prices, it should be made market
linked. The pricing needs to be based on the cost borne by the refineries
and the margins applicable. It needs to be linked on the crude oil
sourcing, capacities of refining, operational efficiencies, marketing
expenditure and such. There is also another point of debate that since
India exports most of its petroleum products such as petrol and diesel,
allocating 20% weight to EPP does not seem right.
There are many components that add up to the petrol prices in India.
FOB: The free-on-board price is the purchase price of petrol. The oil
marketing companies buy crude oil at this price from the international
Customs Duty: There is tax levied by the Government of India on the import
of crude oil.
Import Parity Price: This price is to be paid by the OMCs at the port to
bring in the crude oil for processing. It includes the import charges,
customs duty and the freight cost.
Refinery Transfer price: The oil marketing companies need to pay the
refineries the cost of transferring petrol there.
Inland Freight: This is the transportation price paid by the OMCs for
moving the fuel from the refinery to the retail outlets.
Depot Price: The owners of the retail outlets pay a certain price to buy
the fuel from the OMCs.
Freight: The transportation cost of getting the crude oil from the
international markets called as freight. This is added to the FOB charge.
The combined price is called as cost and freight charges.
Import charges: Insurance, Port and ocean losses make up the Import
charges. The premium paid to the insurance provider is called as the
insurance charges. Port dues are charges applicable for making use of the
facilities at the port.
Excise Duty: The Central Government charges a duty for importing oil into
the country. It is a uniform rate charged at Rs.19.48 per litre.
VAT: The State Government charges Value Added Tax on petrol. It differs
from state to state.
The above components make up the petrol price in Jaipur. Almost 40-45% of
the petrol cost is made up of all taxes and dealer commissions.
Petrol price in Jaipur has been above Rs. 80 per litre for quite sometime.
It has been in the region of Rs. 82 to Rs. 85 per litre in the last few
weeks. This is comparable to other major cities in the country. Delhi has
been constantly recording a price above Rs. 80 per litre and Mumbai has
almost the touched the sky with Rs. 87 per litre in the last few days.
Chennai has been recording a high price for its history around Rs. 84 per
litre which is also similar for Kolkata.
The dynamic fuel pricing model was brought in by the Government of India in
2017. The prices are now linked directly to the international price of
crude oil. The price of petrol is now calculated on a daily basis as is the
case with the international price of oil and not on a fortnightly basis.
This type of pricing brings about transparency in the computation of the
petrol price and less meddling by the political parties. The dynamic fuel
pricing method has been followed by all the state-owned oil marketing
companies like IOCl, HPCL and BPCL.
The petrol prices are revised at 6am on a daily basis. This is calculated
on the basis of previous day’s cost. The revision in the price can be
tracked through the following manner:
App: The OMCs have brought out apps that help you track the prices
through your phone. Fuel@IOC is the app developed by IOCL. This can
be downloaded through the Google Play Store and Apple Store.
SmartDrive is managed by BPCL and MYHPCL by HPCL.
SMS: There is an option of sending a text message to dealer for
(Retail Sale Price) RSP DEALER CODE to 9224992249 (For Indian
For Bharat Petroleum, the number is 9223112222.
For Hindustan Petroleum, you can send an SMS HPPRICEDEALERCODE to
Note: Petrol re-filling stations also display the dealer code of each
OMC website: The websites are also updated on a daily basis and you
can view the prices of petrol in each city with the help of the RO
With the introduction of the dynamic fuel pricing system, the end consumers
can enjoy the benefits of international crude oil pricing immediately.
Earlier the revision of petrol price used to happen only on a fortnightly
basis. But now, with the daily change in the price, the benefit of a lower
price can be passed onto the end consumer immediately instead of waiting
for 2 weeks.
The dynamic fuel pricing method is at par with the methods followed in
advanced countries. It allows for a transparent system to be in place with
least or no influence at all from external parties.
The daily revision in the petrol price brings about parity in the domestic
pricing of the fuel. Consumers enjoy the benefit of lower prices
immediately and OMCs are immediately able to pass on the hike as well.
The petrol price does not come under the gamut of GST as of today. The
current tax structure is making the fuel price quite costly for the end
consumer. There has been a push for making petrol included in the GST
structure. However, with a 28% slab and state added VAT, the end price of
the petrol could potentially be more expensive for the end consumer.
Experts believe that the Government will need to take a call alongwith the
State Governments to make petrol more affordable. Due to the high revenues
generated out of these fuel taxes, the governments lack the political will
to change the existing structure.
Cashback on Fuel Cards: This is one easy and quick way to save your expenses on fuel. Most banks
offer co-branded credit or debit cards with the Oil Marketing Companies and
help you save on the surcharge waivers and offer cashback at all fuel
stations. Some of these cards are ICICI Bank HPCL credit card, BPCL SBI
Credit card and HDFC All Miles credit card.
Electric cars:Currently India is warming up to the idea of introducing electric cars on
the road. It is quite easy to drive and maintain than the fuel driven cars.
As per experts, the maintenance cost is under one rupee per kilometre on an
electric car compared with four to five rupees on a diesel or petrol
Car Pooling:For your daily commutes especially to work, car pooling is an effective
option. This helps in reducing your petrol expenses as well pollution and
congestion on the roads.
Cycle to work:Many companies have been promoting the idea of cycling to work by its
employees. It helps in reaching your destination faster and is definitely
easier to maintain than a vehicle.
Ridesharing:Ride sharing is another upcoming popular option for daily commuters. Most
of the leading cabs in India like the Ola and Uber offers this as an option
to the riders who need to go to the same location. This is an on-demand
service and can be booked instantly through your mobile phone.
What are the ways in which one can reduce fuel expenses?
Changes in lifestyle will be one of the most important ways to reduce fuel
expenses. Daily commutes can be shared with other commuters, using cashback
offers to save on fuel price and surcharge waivers offered by the banks
need to be utilized regularly.
Why is the petrol price so high in Jaipur?
While the central government levies high taxes on the import of crude oil,
the state government charges VAT which adds to the increase in the cost of
What is the Dynamic Pricing Model?
Under this pricing method, the fuel price is revised on a daily basis and
the new prices are put up at 6am.
Is petrol included under the GST scheme?
No, currently petrol is not included under GST.
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