Petrol Price in Lucknow Today

The bustling city of Lucknow is the capital as well as the largest city of Uttar Pradesh. Here is everything you need to know about the petrol price in Lucknow today and the different factors that determine and impact the cost of petrol in Lucknow.

In Lucknow, the petrol price is calculated by considering several factors.

1. The first is crude oil, the primary raw material for petrol, which is bought from overseas oil companies. Any changes in the global supply or demand alter the price of oil.

2. Second is the Indian Rupee to US Dollar exchange ratio. As oil is bought using the US Dollar, the latest currency exchange rate plays a crucial role in deciding the final purchase price.

3. Once the oil has been bought, domestic oil marketing companies (OMC) add the costs of refining and transporting the oil to the dealers.

4. At the last stage, the dealer adds the commission and the applicable taxes on petrol in Lucknow. These taxes include the Central excise duty and Cess, and the VAT (Value-Added Tax) levied by the Uttar Pradesh (UP) state government.

 

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!

To improve transparency and align customers with the constantly fluctuating oil prices, the concept of dynamic fuel pricing was introduced in the country in 2017. Since then, the petrol price in Lucknow is revised every day at 06 AM. As a result, the petrol price in Lucknow today may be different from that of yesterday. To know the latest petrol price in Lucknow, you can check the display boards of fuel stations or visit the websites and apps of popular oil companies.

The concept of dynamic fuel pricing is designed to free petrol from the influences of politics, as well as reduce the financial burden on oil marketing companies and dealers. Under this scheme, the market trends, i.e., the fall and rise in petrol price is immediately transferred to the end-users, unlike earlier when it was done on a fortnightly basis. As a result, it helps ensure consistency in price by syncing consumers with the global fuel market more regularly.

Before the introduction of dynamic fuel pricing, the price of petrol would remain more or less steady throughout the month. This is because the price revision was done only twice- the first and sixteenth day of the month. For example, if the petrol price in Lucknow on the first day of February was ₹70.35, it would remain the same for the next fourteen days, irrespective of the actual price fluctuations in the global market. On the sixteenth day, the 1-litre petrol price in Lucknow would be revised again. If at this time, the petrol price increased to ₹71.22, it would then remain the same for the rest of the month, irrespective if the global fuel prices rose/ fell the next day.

While GST (Goods and Services Tax) is levied on most items, it does not form a part of the petrol price structure. As a result, any changes in the GST system does not impact petrol prices in Lucknow.

As the price of petrol in Lucknow varies every day, it is a good practice to check it regularly. There are three ways to do so:

1)  Check Lucknow Petrol Rate via OMC Website-

To check the petrol rate in Lucknow today, you can visit the websites mentioned below:

2)  Check Petrol Price Today in Lucknow via SMS

You can check the petrol cost in Lucknow via SMS. The details are mentioned below:

3)  Check 1-litre Petrol Price in Lucknow via Mobile App

To check petrol price in Lucknow yesterday or today, you can use any of the popular apps mentioned below:

You can also check the updated price on the Bajaj Markets website/ app.