Petrol Price in West Bengal: Petrol Rate in West Bengal

Petrol Price in West Bengal

Petroleum is not a ubiquitous resource and the global market trends - be it the currency exchange rate, demand-supply ratio or the geopolitical scenario, are ever-changing. Also, as the petrol basic price and tax is West Bengal keep updating, it is important that you check the current price in West Bengal before setting out for your day. Here is everything you need to know about the petrol cost in West Bengal and the different factors that determine and influence it.

What Factors Determine Petrol Price Today in West Bengal?

The current petrol price in West Bengal is determined by a few distinct variables. These are:

1. Crude Oil Cost

One of the significant components impacting the West Bengal petrol price is the cost of crude oil. It is dependent on the demand, supply as well as the prevailing geopolitical conditions. If the crude oil cost increases today, the petrol rate in West Bengal will also rise.

2. INR to USD Exchange Rate

Crude oil is purchased in US dollars (USD), hence the USD conversion rate against the Indian Rupee (INR) plays a crucial role in determining what will be the West Bengal petrol rate today.

3. Oil Marketing Company’s Charges

Once the Oil marketing companies (OMCs) acquire the oil they then refine it and transport it to the dealers. During this process, they add the applicable charges which further modified the rate of petrol in West Bengal.

4. West Bengal Petrol Tax and Commission

On top of the Central Excise Duty levied by the central government, there is a tax on petrol in West Bengal levied by the state government. This is known as the Value Added Tax or VAT. Do note that VAT forms a significant part of the petrol price tax breakup in West Bengal. The dealers selling the oil too add a small commission to the final petrol price in Bengal.

How Often is the Petrol Rate in West Bengal Revised?

In West Bengal, the petrol rate is changed daily, according to the dynamic fuel price policy of June 2017. So, every day at 06 AM, dealers at various outlets update the 1 litre petrol price in West Bengal. As a result, the petrol price today in West Bengal can be different from that of yesterday. Do note that for ease of access the petrol price details in West Bengal are displayed on the different fuel stations across West Bengal as well as made available on the website and apps of oil companies.

How Does Dynamic Fuel Pricing Affect Petrol Price in West Bengal?

Earlier petrol prices were updated on a fortnightly basis. As a result, any changes post the first of each month up till the fifteenth of the month, did not affect the end consumer and were borne by OMCs. With the introduction of Dynamic fuel pricing, the fuel prices began to be revised daily. As a result, any changes in the global fuel rates were transferred to the customers at the beginning of each day. This helped OMCs better manage their cash inflows and outflows as well as their current liabilities and assets better.

What is the Impact of GST on Petrol Rates in West Bengal?

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 West Bengal are not affected by GST as petroleum products are out of the GST purview.

How to Check Petrol Price in West Bengal Today?

Today, in West Bengal, the petrol price can be checked using any of the channels mentioned below.

1) Check Cost of Petrol in West Bengal via OMC Website

Today the Petrol Rate in West Bengal can be checked by visiting the below-mentioned web pages and clicking on the Pump Locator option.

www.hindustanpetroleum.com

www.bharatpetroleum.in

www.iocl.com

2) Check Current Petrol rate in West Bengal via SMS

Today, the price of petrol in West Bengal can be checked by sending an SMS to the below-mentioned numbers-

For Hindustan Petroleum- “HPPRICE DEALER CODE” to 92222 01122

For Bharat Petroleum- “RSP DEALER CODE” to 92231 12222

For Indian Oil- “RSP DEALER CODE” to 92249 92249

3) Check Price of Petrol in West Bengal Today via Mobile App

The petrol price of West Bengal state can be checked using the apps of noted OMCs.

Hindustan Petroleum - MyHPCL Mini

Bharat Petroleum- SmartDrive

Indian Oil- Fuel@IOC

Alternatively, you can also view the petrol rate in West Bengal today on the Bajaj Markets website and app.

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!

What are the Top Fuel Credit Cards?

Bank	Credit Card	Credit Card Benefits
State Bank of India	SBI BPCL Credit Card	4.25% Value Back on fuel purchases at BPCL Petrol Pumps
State Bank of India	SBI BPCL Octane Credit Card	7.25% Value Back on fuel purchases at BPCL Petrol Pumps
Axis Bank	Axis INDIAN OIL Credit Card	4% Value Back on fuel purchases at Indian Oil Petrol Pumps

About Credit Cards Services

Credit Cards Partners at Bajaj Markets

Non Partners Credit Cards

Who decides petrol prices in West Bengal?

The petrol price in West Bengal is primarily decided based on the cost of crude oil, INR/ USD exchange rate fluctuation, interest rates, import and export charges, and charges imposed by oil marketing companies. The final petrol rate in West Bengal is decided by adding payments to the refineries, central excise duty, dealer commission, and VAT.