Petrol Price in Noida Today

Price of Petrol in Noida

The satellite city of Noida is a part of the densely populated state of Uttar Pradesh. With a sizable urban population and significant industrial development, Noida is heavily dependent on petroleum resources. Read on, if you want to know about the petrol price in Noida today and the different factors that determine and influence it.

What are the Factors Determining the Petrol Rate in Noida?

The price of petrol in Noida (and elsewhere) is determined by a range of factors. In this section, we look at these different determinants of petrol price in Noida.

1. Price of crude oil: The global price of crude oil or unrefined oil in the international market has an impact on the price of petrol locally. Crude oil is a commodity traded in these international markets, whose price increase or fall has an effect on the price of petrol in each country. The reserves and supplies of crude oil also impact petrol prices.

2. Exchange rate:  The value of Indian Rupee against the US Dollar has a bearing on the price of petrol. Crude oil is bought from the international market in US dollars, so the stronger the USD, the higher will be the cost of crude oil to India. The price of the end product (petrol) is hence likely to rise.

3. Excise duty: The excise duty is a duty levied by the central government on the purchase of petrol. This is a predetermined amount and is subject to change by the union government. The excise duty is independent of rises or falls in the price of crude oil. The government has increased the excise duty on petrol many times over the years. Currently, the excise duty charged on petrol is ₹32.98.

4. VAT or sales tax: The state government of Uttar Pradesh also charges a VAT or sales tax on petrol. This tax is calculated after taking into account price charged from dealers, dealer commision and the excise duty. The VAT on petrol in Uttar Pradesh is ₹14.73 per litre.

5. Dealer prices and commissions: Crude oil distributed by oil marketing companies is priced based on the refining costs, freight charges, etc. These companies also pay commissions to their dealers. The earnings, costs, and profits of petrol pump owners is covered by this cost. 

How Often is the Petrol Price in Noida Revised?

As India adopted the dynamic fuel pricing mechanism in June 2017, the rate of petrol in Noida is revised daily. The price of petrol in Noida is reset across bunks in the city, every day at 6:00 AM IST. This method encourages competitiveness and provides transparent fuel pricing as well.

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

What is Dynamic Fuel Pricing?

Dynamic fuel pricing is a special scheme introduced by the Government of India in June 2017. It helps ensure that global oil price fluctuations are transferred to the end-users, directly and regularly. This allows petrol to be free from political influences and reduces the financial burden on oil marketing companies and dealers.

How does Dynamic Fuel Pricing Affect the Noida Petrol Rate?

Earlier fuel prices were updated on a fortnightly basis, i.e., on the first and sixteenth of every month. With the adoption of dynamic fuel pricing, today, the petrol rate in Noida is adjusted daily. This is done in accordance with the change in the price of petrol in the global market so as to ensure absolute transparency. As a result, every day the price of petrol in Noida is updated at 6 AM, and the customer pays the exact revised cost. For example, if the price of crude oil or the INR-USD exchange rate increases today, the current petrol price in Noida will also increase. And because dynamic fuel pricing is in play, you will need to pay the higher price if you purchase fuel today.

What is the Impact of GST on Petrol Rate in Noida?

The VAT and excise duties are the applicable taxes on petrol in Noida. However, petroleum products are out of the purview of the Goods and Services Tax (GST). Therefore, there is no impact of GST on the rate of petrol in Noida.

How to Check Noida Petrol Rate Today?

Petrol prices in Noida are subject to change every day. Keeping track of these changes on a daily basis can be difficult for customers. In such a situation, you can use several modes of tracking petrol prices in Noida every day. Most oil marketing companies have in place systems that allow you to check petrol prices.

You can easily check the petrol price in Noida today, live using any of the channels mentioned below:

1)  Check Cost of Petrol in Noida Today via OMC Website

You can visit the websites mentioned below, to view the price of petrol in Noida today.

2)  Check Petrol Cost in Noida via SMS

In Noida today, the petrol price can be checked by sending an SMS to the registered numbers mentioned below:

3)  Check Cost of Petrol in Noida Today via the Mobile App

You can check the current petrol rate in Noida by downloading the apps of the popular Oil Marketing Companies mentioned below:

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?