Petrol Price in Surat Today

Petrol Price in Surat

Surat is one of the largest cities and among the most important commercial centres of Gujarat. If you are looking to purchase fuel in the city, here is everything you need to know about the petrol rate in Surat today (updated at 6 AM daily). Once you understand the different factors that determine and influence the petrol cost in Surat, you will be able to compare it with the petrol price of other cities in Gujarat as well as in India.

Which Factors Determine the Petrol Price Today in Surat?

Today, the petrol price in Surat can be different from that of yesterday. How so? Well, there are several controlling factors which contribute to the final petrol price in Surat.

1) INR-USD Exchange Rate

The exchange rate of the US dollar (USD) against the Indian rupee (INR) is one of the most vital components that influence the petrol rate in Surat. This is because crude oil (which is refined to make petrol) is purchased in the international markets using US dollars.

2) Price of Crude Oil

The cost of crude oil depends on multiple factors such as the global political scenario, the demand and supply ratio, etc. Any changes in the above affect the Surat petrol rate. If the cost of crude oil increases across international markets, the final price of petrol also rises. On the other hand, if the cost of crude oil drops, the current petrol price in Surat will also fall.

3) Charges by OMCs

Oil Marketing Companies (OMCs) that import, refine, and transport the oil, also add a certain charge. This charge is inclusive of the profit margin.

4) Taxes and Commission

The central and state governments impose excise duty + Cess and value-added tax (VAT), respectively, which increases the rate of petrol in Surat. Do note that while central excise duty + Cess remain the same all over India, the charges of VAT on petrol varies from one state to another and is dependent on the ruling government. In addition to this, the dealer also charges a commission on the live petrol price in Surat.

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 Bajaj Markets and apply for a credit card, today!

How Often is the Petrol Rate in Surat Revised?

The petrol price in Surat is revised daily as per the June 2017 policy of Dynamic Fuel Pricing. This happens at 06 AM every day, when dealers across Surat update the price of petrol for the day. So, if you are wondering what is the petrol price in Surat today live, you can check the display screens at fuel stations across the city. These are updated by dealers daily. In addition, you can also check the Surat petrol rate today on the websites and apps of oil companies.

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

The Goods and Services Tax (GST) is a uniform tax structure that was introduced in 2017 to serve as an all-inclusive tax. However, petrol prices in Surat are not affected by GST as petroleum products are exempt from the Goods and Services Tax.

How to Check Petrol Price in Surat Today?

In Surat, the petrol price today can be checked using any of the channels mentioned below. Alternatively, you can also view the petrol rate in Surat today on the Bajaj Markets website and app.