Petrol Price in Haridwar

Haridwar, in Uttarakhand, India, is a significant Hindu pilgrimage destination renowned for the sacred Ganges River and the Kumbh Mela festival. The city draws millions of pilgrims from across the country. 

Monitoring petrol prices is essential for both visitors and residents. Petrol prices in Haridwar remain highly volatile due to fluctuating crude oil rates and the depreciation of the Indian Rupee. Check rates daily, especially before undertaking long journeys, as petrol prices are revised every day.

Retail prices of fuel can vary from one region to another. For instance, retailers may use pricing algorithms that consider crude oil costs, nearby market prices, and their own operational expenses to determine the petrol price in Haridwar. Other influencing factors include:

• Crude Oil Cost

Crude oil, traded globally, has a direct impact on the petrol rate in Haridwar. Its price may fluctuate due to global supply and demand dynamics, projected future reserves, and geopolitical developments.

• Supply and Demand

Petrol prices fluctuate based on supply and demand. Higher demand or lower supply drives prices up, while lower demand or higher supply causes prices to fall. The balance between these factors determines the final price.

• Taxes

Both Central and State governments impose taxes on petrol in the country. Any change in these tax rates directly impacts the retail price of fuel.

• Logistics and Dealer Commission

Transporting fuel to distant or remote areas increases logistics costs. Petrol and diesel are generally priced lower in cities located near oil depots. Oil Marketing Companies (OMCs) also pay dealers a commission, which covers their earnings and operational overheads. This commission contributes to the final price of fuel.

• Rupee-Dollar Exchange Rate

Indian oil companies purchase crude oil in US dollars but make payments in Indian rupees. A depreciation in the rupee against the dollar leads to higher import costs, thereby increasing the price of fuel.

Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise petrol prices in Haridwar daily under the Dynamic Fuel Pricing method. They update the rates every day at 6 AM IST, based on crude oil prices, fuel demand, and the rupee’s value against the dollar. 

The constant fluctuation of the petrol price in Haridwar can affect its local economy. It impacts the following:

• Transportation Costs

Higher fuel prices force residents to spend more on commuting. Public transport operators have to raise fares to cover the cost. This creates a burden for passengers, especially those who travel daily.

• Daily Spending

People may have to allocate more income to fuel. This leaves less for other daily essential purchases, non-essential items, and savings.

• Inflation

Fuel price hikes drive overall inflation and make the cost of living in Haridwar more expensive.

• Tourism

As a major pilgrimage and tourist hub, Haridwar faces higher costs for both visitors and surrounding businesses. This reduces tourism income and affects local employment.

A price hike in the petrol price in Haridwar has a significant impact on vehicle owners who commute daily. Here is what they can do to reduce spending on petrol:

• Use Co-branded Fuel Cards

Major oil companies offer co-branded credit or debit cards in partnership with banks. These cards provide benefits, including reward points on fuel purchases and fuel surcharge waivers. These offers help save money on every refilling.

• Opt for Prepaid Fuel Cards

These cards help earn reward points on fuel purchases. They also assist in managing fuel expenses more effectively. It is important to check for any processing fees or hidden charges before subscribing.

• Pay with Digital Wallets

Although they do not offer fuel-specific perks, digital wallets can still provide discounts. They make transactions cashless and efficient. These wallets are a convenient and secure way to pay for fuel.

• Maintain Your Vehicle

Routine maintenance, such as timely oil changes, cleaning air filters, and maintaining tyre pressure, increases fuel efficiency. This reduces the frequency of refilling.

• Change Your Driving Habits

Avoid clutch riding, rash driving, and delayed gear changes. Simple actions like switching off the engine at signals save fuel. These practices can reduce consumption by up to 30 litres per 1000 km.