Petrol Price in Kolkata Today

Petrol Price in Kolkata

The bustling and fast-paced, metro city of Kolkata is extremely dependent on petrol for its dense transportation network. Here is everything you need to know about the price of petrol in Kolkata today. You can also take a look at the different factors that determine and impact the cost of petrol in Kolkata.

Factors Determining Petrol Rate in Kolkata

While the crude oil price is a critical contributing factor, the petrol price in Kolkata is determined by several other factors and has many components. The include:

• Currency Exchange Ratio

Firstly, as crude oil is bought in US dollars, the Indian Rupee to US Dollar exchange rate plays a significant role. The lower the value of INR to the US dollar, the higher is the price of petrol.

• Charges by OMCs

Once the crude oil is supplied to the oil marketing companies (OMCs) for refining into petrol, the cost of refining, freight, and profit is added to the cost price of crude.

• Commission and Taxes

When the refineries sell the petrol to the dealers in Kolkata, the dealers add a commission along with the respective state and central taxes and other applicable charges. This is the final price that customers are charged.

While most charges remain the same across states, the Value Added Tax (VAT) tends to vary. So, when you look at the petrol price in Kolkata, among the many charges, do take a look at the VAT levied by the West Bengal government. Compared to the other east Indian states (Jharkhand, Odisha, and Bihar), this is the second-highest VAT charged on petrol.

How Often is the Petrol Rate in Kolkata Revised?

The petrol price per litre in Kolkata is revised every day as per the policy of dynamic fuel pricing which was introduced in June 2017. At 6 AM, dealers across the city update the price of 1 litre petrol in Kolkata as per the amount decided by the oil marketing companies. The same is displayed on the fuel board at petrol pumps as well as updated on the oil company website and app.

Why are the Petrol Prices High in Kolkata?

Earlier, the Indian oil marketing companies followed the pattern of revising petrol prices on a fortnightly basis. However, with the extreme fluctuations of the currency exchange rate and the volatility of the international crude oil prices, Oil Marketing Companies (OMCs), found it difficult to keep up. This was especially because OMCs were not allowed to raise prices suddenly at the end of the fortnight. To combat this issue, the scheme of Dynamic Fuel Pricing was adopted on June 16, 2017, at 6 AM. This allowed OMCs to pass down even the smallest change in the global oil price to the dealers and consumers at 6 AM every morning. As a result, there was no need to make big leaps in the price of petrol at the end of the fortnight.

Impact of GST on Petrol Rate in Kolkata

GST (Goods and Services Tax) came into effect in July 2017. While it was levied on most goods and services, petrol was exempt. Recently, there have been requests for bringing petrol under the GST regime. If accepted, the highest tax chargeable on petrol will be 28 per cent. However, there has been no conclusive decision in this regard and the petrol price in Kolkata continues to not be impacted by GST.

How to Check the Latest Petrol Price in Kolkata?

It is a good practice to check the cost of petrol in Kolkata every day, as it is updated regularly. There are three ways to do so:

1. Check Current Petrol Price in Kolkata via OMC Website

2. Check Price of Petrol in Kolkata via SMS

3. Check 1-litre Petrol Price in Kolkata via Mobile App

How to Check Petrol Price Today in Kolkata via OMC Website?

You can check the petrol rate in Kolkata per litre by visiting the websites of the popular oil companies in India. The details of the same are listed below:

How to Check Kolkata Petrol Rate via SMS?

You can check the petrol cost in Kolkata by sending an SMS to the registered numbers mentioned below:

How to Check Petrol Price Today in Kolkata via the Mobile App?

You can check the petrol rate in Kolkata today and the petrol price in Kolkata yesterday, by downloading the below-mentioned mobile apps of popular oil companies and completing the login process.

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 browse the best card options on Finserv MARKETS and apply for a credit card for yourself, today!

What are the Top Fuel Credit Cards?