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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 Thane
04 April 2020
₹ 75.35 /L
₹ 75.51 /L
₹ 75.63 /L
₹ 75.76 /L
₹ 75.90 /L
₹ 76.34 /L
Thane is located in the state of Maharashtra in India. It is a metropolitan
city. It spans an area of over 147 square kilometres. Thane is surrounded
by nine lakes and is thus also known as “the city of lakes.” It is situated
next to Mumbai in the North-Western side of Maharashtra.
Thane is said to be the 16th most populated city in India.
According to the 2011 census, it is said to hold a population of about 18.9
lakhs of people. It has a tropical monsoon climate that shuffles between
tropical wet and dry climate.
The city of Thane is very well linked through its Central and Trans-Harbour
Line Suburban railway network that connects the city to its neighbouring
suburbs. The Thane-Vashi Harbour Line and Central line junction is at
Thane. It is the busiest railway station in Mumbai and accommodates over
654,00 passengers daily.
The petrol prices in Thane have been on the rise just like all the other
cities in India. The cost of petrol is now Rs.77.14 per litre which is
comparatively lesser than the high of Rs.91.41 on the 3rd of
Petrol rates in Thane are very high as the state of Maharashtra charges one
of the highest VAT slabs in the country. There are two VAT slabs that are
levied. Petrol pumps in Thane, Mumbai and Navi Mumbai have to pay a VAT of
39.12% which is a percentage point less than the rest of the state.
In the global scenario, there have been many trade wars and geo-political
tensions that have contributed to the price rise in international crude
The petrol price in India is largely governed by the crude oil price
internationally. We import crude oil to process it into many petroleum
products. The supply of crude oil is controlled by the OPEC countries
(Organization of Petroleum Exporting Countries). When the production and
supply is restricted, the demand increases and therefore, the prices go up.
Retail Selling Price: The Retail selling price of petrol (RSP) is
determined by a few components. There is a long process to arrive at this
price. All the oil marketing companies in our country like the IOCl, BPCL
and HPCL use the Trade Parity Pricing method to calculate RSP. The cost is
calculated on 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 Price: The amount realized by the oil marketing companies on
exporting petroleum products is called as the export parity price. This
includes the FOB and ALB (Advance License Benefit) as well. It is currently
nil as the Government abolished the Customs Duty of Crude Oil in 2011.
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 critical views on this pricing method. It does seem
that this method has been followed to protect the interests of the OMCs.
This makes sense only when the fuel prices are controlled by the government
and not affected by the international market prices. Experts are of the
opinion that the pricing of fuel needs to be based on the cost borne by the
refineries and their margins. Since most of the petroleum products are
exported, the allocation of 20% towards EPP is not entirely correct.
There are many components that add up to the petrol prices in Thane.
FOB: This is the buying price of petrol. The crude oil is bought by the oil
marketing companies at this rate from the international market.
Customs Duty: This the tax levied on the import of crude oil by the
Government of India.
Import Parity Price: This price is paid by the OMCs at the port to bring in
the crude oil. It mainly constitutes of import charges, customs duty and
Refinery Transfer price: The oil marketing companies need to pay the
refineries the amount for transferring petrol there.
Inland Freight: This is the transportation amount 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 particular price to buy
the fuel from the OMCs.
Freight: The transportation price of getting the crude oil from the
international markets called as freight. This is added to the FOB charge.
The combined price is termed as cost and freight charges.
Import charges: Insurance, port and ocean losses constitute the Import
charges. The premium paid to the insurance provider is known as the
insurance charges. Port dues are charges applicable for using the
facilities at the port.
Excise Duty: The Central Government charges a duty for importing oil into
the country. It is a consistent rate charged at Rs.19.48 per litre.
VAT: The State Government Charges Value Added Tax on petrol. It varies from
state to state. Maharastra has the highest VAT charges in the country.
The price of petrol in Thane and Mumbai is the highest in the country of
India. This is due to the high VAT charges. Other cities are comparatively
How frequently are petrol prices in Thane calculated?
With the usage of the dynamic fuel pricing model since 2017, the costs are
now linked directly to the international price of crude oil. The price of
petrol is now calculated on an everyday basis as is the case with the
international price of oil and not on a fortnightly basis.
The petrol prices are revised by the dealers and released to the consumers
at 6am every day. This is calculated on an everyday basis of the previous
day’s cost. The revision in the price can be tracked through the following
Mobile Apps: The Oil Marketing companies have developed easy to use
mobile apps to monitor petrol prices on a daily basis. Fuel@IOC is
one such app developed by IOCL. You can download it through the
Playstore or the Apple Store and get everyday prices of petrol of
any city. MYHPCL is another app brought out by HPCL and SmartDrive
is managed by BPCL.
SMS: There is another option of sending a text message to dealer
for instant updates.
Retail Sale Price) RSP< SPACE >DEALER CODE to 9224992249 (For
For Bharat Petroleum, the number is 9223112222.
For Hindustan Petroleum, you can send an SMS HPPRICEDEALERCODE to
Online Portals: Every oil company displays the cost of petrol on
their website every day at 6 AM. Most websites also show historical
rates, graphs, trends and much more. Simply visit the respective
website and explore to know the price of petrol and more.
Note: Petrol prices may vary slightly from company to company and dealer to
dealer because of varying commissions and profit margins.
One of the most important benefits of the dynamic fuel pricing system is
the speed at which the change in international prices is reflected on the
petrol price to the end consumer. This happens within a day now instead of
a fortnight earlier. The benefit of a reduced crude oil price can now be
immediately passed onto the end consumer within a day instead of waiting
for over 14 days.
This model of pricing is at par with the methods followed in many of the
advanced countries. The transparency at which the rates are determined with
very little influence from the Government makes it very attractive.
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 now introduced GST has not been applied to petrol and other fuel. VAT
is therefore still applied to them along with Excise duty levied by the
central government. As VAT varies from state to state, there exists a good
deal of difference in petrol prices from state to state. Critics opine that
applying GST to petrol and diesel will bring uniformity in pricing and
lower it. Maharashtra has the highest VAT charges in the country.
While the petrol prices in Thane stands at Rs 77.14 per litre, the diesel
price in Thane stands at Rs.68.11 per litre. So, both petrol and diesel
prices have been increasing.
There are many ways in which you can save petrol costs:
Cashbacks on fuel cards:
Some credit cards and debit cards can give cashbacks of up to 5% at leading
fuel stations as well as fuel surcharge waivers. These fuel cards are aimed
to help you save money each time you refill your vehicle at the fuel
station. There are several banks that offer co-branded fuel credit cards in
collaboration with oil companies. The advantages that you receive on your
fuel purchase can be in the form of reward points, cashbacks, discount or a
combination of all three. Some examples of fuel cards in India are ICICI
Bank HPCL Credit Card, BPCL SBI Credit card, Standard Chartered Super Value
Titanium Credit Card and HDFC All Miles Credit Card.
Use of Public Transport:
Most Indian cities have a great public transport system. There is also a
network of busses and trains that connect from one city to another and one
state to another. Using these facilities is much more affordable than using
your own vehicle. It is also less exhausting.
Electric cars are now a reality in India. It is easy to own and with
plans to build recharge stations across locations, it will be convenient to
use the vehicle for long drives as well. Expert studies suggest that the
maintenance cost of an electric vehicle is Re.1 per km as against Rs. 5 per
km on a diesel or petrol car.
Cycle to work:
Many cities have many organisations promoting the cycle to work concept.
There are specialised cycles which are not only swift but very sporty as
well. Cycling to work will reduce your dependence on fuel emitted cars,
reduce pollution and it is also a very good way to maintain your health as
well. It can keep you very fit.
1.What makes up the retail price of fuel?
Import cost, central government excise duty & taxes, state government
charged VAT, operating costs and margins make up the retail price of
2.How does the weakening rupee affect the cost of petrol?
The world’s crude oil market is traded in US dollar. So, any change in the
exchange rate with the US dollar will directly affect the purchase price of
3.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.
4.Is petrol included under the GST scheme?
No, currently petrol is not included under GST. However, there is a common
thought that it must be brought under the purview of GST to reduce the
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