Petrol Price in Himachal Pradesh Today

Petrol Price in Himachal Pradesh

Here is everything you need to know about the petrol price in Himachal Pradesh today. We shed light on the price trend over time and understand the different factors that determine and influence the petrol cost in Himachal Pradesh.

What Factors Determine Petrol Rates in Himachal Pradesh?

The petrol price in Himachal Pradesh is determined daily on the basis of various factors. Some of the most crucial aspects that alter the petrol rate in Himachal include the cost of crude oil along with demand and supply of fuel.

As crude oil is an imported commodity, the settlement has to be made in US dollars. Here, the INR/USD rate of exchange is a crucial factor in determining the final petrol price. Oil marketing companies (OMCs) might have to shell out more funds as procurement costs if the USD strengthens against the Indian Rupee (INR). This eventually leads to an increase in petrol cost in Himachal Pradesh.

Locally, OMCs also add refinery and freight charges, thus increasing the cost of petrol. The petrol dealer also adds their commission to this total. Finally, the central and state governments add excise duty and value-added tax (VAT), respectively, on petrol.

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How is Petrol Price in Himachal Pradesh Computed?

The final retail selling price of petrol in Himachal Pradesh is computed on the basis of a number of factors. Under the Dynamic Fuel Pricing policy, the petrol prices are determined by adding global crude oil prices, USD-INR exchange rate, refinery and freight charges levied by OMCs, and the central excise duty. To this, the dealer commission along with the VAT levied by the Himachal Pradesh government will be added to reach the final petrol price in Himachal Pradesh.

How Often is the Petrol Rate in Himachal Pradesh Revised?

In Himachal Pradesh, the petrol rate is revised every day as per the June 2017 policy of Dynamic Fuel Pricing. At 06 AM daily, traders at various fuel outlets in Himachal update the price of petrol for the day. Due to the factors that determine the petrol rates, the price may vary from the previous day. The petrol prices for the day are also displayed at fuel stations across Himachal and can also be viewed on the websites and apps of oil companies.

What is the Impact of GST on Petrol Rates in Himachal Pradesh?

Petrol prices in Himachal are not affected by the Goods and Services Tax (GST) as petroleum products do not fall under the ambit of the GST. On the contrary, excise duty and VAT are applicable on petrol.

How to Check Petrol Price in Himachal?

Since the petrol prices in the country are updated daily, you can check the updated petrol price in Himachal Pradesh today on the mobile apps of oil manufacturing companies. Alternatively, the updated petrol prices in Himachal Pradesh are also displayed daily across all the petrol pumps in the state.

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