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.

Kolkata, the capital of the Indian state of West Bengal, is a major metropolis in the country. It serves as the economic and commercial centre of East and North India. The petrol price in Kolkata is among the highest in India, along with the prices in other major Indian cities including Delhi, Bengaluru and Chennai. Similar to other major cities, Kolkata's petrol rates are based on the price of crude oil around the world. The varied Value Added Tax or local sales tax imposed on the sale of fuel in the city is the cause of the variance in petrol costs between Kolkata and other large metro cities. 

Impact of GST on Petrol Rate in Kolkata

In India, the majority of products and services are subject to GST, which went into force in July 2017. Following GST, a uniform rate is now seen across India on a variety of goods. Petroleum items like petrol, diesel, jet fuel, and natural gas are currently exempt from the GST. As a result, GST has no impact on petrol price in Kolkata or any other Indian city. Given the recent controversy surrounding the inclusion of petroleum products in the GST, the price of gasoline in Kolkata is likely to decrease if it does so because the highest tax rate under the GST is 28%, which is lower than the sum of the VAT and central excise charge of ₹19.48 for one litre of petrol. 

How to Check the Latest Petrol Price in Kolkata?

You pay a distinct price for petrol every day. By using the smartphone applications provided by Indian Oil, Hindustan Petroleum, Bharat Petroleum, and Shell Oil, you may find out the current petrol price in Kolkata. The current petrol price in Kolkata can also be obtained by sending an SMS inquiry or by speaking with customer service agents of different oil companies directly. You can also check the latest daily petrol price in Kolkata online at 6:00 a.m when the fuel prices are updated for the day.

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?

Daily price variations for Petrol and Diesel are applied at 6 am every day. Please SMS "RSP <space> Dealer Code of Petrol Pump” to 92249 9224 to receive the approximate petrol and diesel prices for your city or town for the day.

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 Bajaj Markets and apply for a credit card for yourself, today!

What are the Top Fuel Credit Cards?