Today Petrol Price in Bihar

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Today Petrol Rate in Bihar

Here is everything you need to know about the petrol price in Bihar today. We examine the petrol price trend over time and understand the different factors that determine and influence the petrol cost in Bihar.

Petrol Price Today (₹) in Bihar

₹ 105.87

Current Petrol Price per Litre

What are the Factors Determining the Petrol Rates in Bihar?

On a larger scale, the final retail petrol price in Bihar is directly related to the price of crude oil on the global markets. If the cost of crude oil increases, the retail selling price of petrol also rises. As crude oil is imported and the settlement is completed in US Dollars, the USD exchange rate to the Indian Rupee (INR) also plays a big factor in determining the final petrol price in Bihar.

Furthermore, charges levied by the oil marketing companies (OMCs) for refining oil as well as the commissions for distributors also impact the petrol rate in Bihar. Moreover, the state government adds the value-added tax (VAT) while the central government imposes excise duty as part of the petrol tax in Bihar.

Luckily, you can continue to save on petroleum purchases irrespective of the fluctuations in global fuel prices. All you need is a credit card! Yes. It is true! With the right credit card, you can enjoy a fuel surcharge waiver every time you buy petrol at partner fuel stations in the country. So, go ahead and browse the best card options on Finserv MARKETS and apply for a credit card, today!

How Often is the Petrol Rate in Bihar Revised?

Since June 2017, petrol prices in Bihar have been revised daily based on the dynamic fuel pricing mechanism. The price of petrol across stations in Bihar is reset every day at 06 AM. This process ensures transparent fuel pricing and increased competitiveness.

The petrol prices for any given day are displayed on the retail outlets across the state. Consumers can also check the petrol price rate in Bihar on the website and apps of oil companies.

What is the Impact of GST on Petrol Rates in Bihar?

Petrol attracts value-added tax (VAT) and excise duty. However, petroleum products do not fall under the ambit of the Goods and Services Tax (GST); hence, there is no impact of GST on petrol rates in Bihar. 

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Frequently Asked Questions

  • ✔️Who decides petrol price in Bihar?

    The daily Bihar petrol price rates are decided based on multiple factors. These factors include global cost of crude oil, USD/INR exchange rate, import and export charges, refinery charges added by oil marketing companies (OMCs), dealer commission, and the taxes (excise duty imposed by the central government and VAT levied by the state government) applicable on the product.

  • ✔️How far can you go on 1 litre of petrol?

    The distance that your vehicle can cover on 1 litre of petrol depends on its mileage or fuel efficiency.

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