Petrol Price in Nagpur Today

Today Petrol Price in Nagpur

Here is everything you need to know about the petrol price in Nagpur today. Take a look at the different factors that determine and impact the cost of petrol in Nagpur.

What Factors Determine the Petrol Rates in Nagpur?

Crude oil is purchased from the international markets in US dollars, which makes it one of the most important factors while determining the petrol price in Nagpur. The USD/INR exchange rate for the day during the initial purchase impacts the final price of the product.

The oil marketing companies (OMCs) then add the import and refinery charges for processing the crude oil into petrol before passing it on to dealers. On this, dealers add their own commission in addition to the state government’s value-added tax (VAT) and the central excise duty, which are part of the petrol tax in Nagpur.

The petrol prices in Nagpur also depend on the demand and supply of the product. Due to the increasing number of people using vehicles, the cost of petrol has risen. Fortunately, you can still save on petroleum purchases irrespective of the fluctuations in global fuel prices. All you need is a credit card! Yes, it is true!

You can enjoy a fuel surcharge waiver every time you buy petrol at partner fuel stations in the country with the right credit card. Go ahead and browse the best credit card options on Bajaj Markets. Isn’t this impressive? Apply for a credit card right now!

How Often is the Petrol Rate in Nagpur Revised?

The petrol rate in Nagpur is revised daily as per the June 2017 policy of Dynamic Fuel Pricing. Fuel outlets across the city reset the price of petrol at 06 AM every day. The daily revision improves competitiveness and ensures transparent fuel pricing. The petrol prices are displayed at all retail outlets across the city. Consumers can alternatively check the petrol price rate in Nagpur on the websites and apps of oil marketing companies.

Advantage of Dynamic Fuel Pricing Mechanism

Under the Dynamic Fuel Pricing mechanism, fuel prices are updated daily as opposed to the previous practice of updating petrol prices in India on a fortnightly basis. A major advantage of the new system is the reduced time taken to revise petrol prices as per global crude oil price revisions and currency exchange rate fluctuations. Daily revision of petrol prices also ensures there is transparency in fuel prices for both OMCs as well as the customers. Fuel dealers too benefit from this mechanism as they can better handle their stock management than wait for a fortnight to implement their logistics plan.

How do I Check the Current Petrol Price in Nagpur?

The updated Nagpur petrol price today would be displayed across all petrol pumps in the city from 06 AM onwards. Alternatively, you can also visit the official website or mobile apps of various OMCs to check petrol prices in Nagpur today. 

What is the Impact of GST on Petrol Rates in Nagpur?

There is no impact of Goods and Services Tax (GST) as petrol is out of its purview. The state government’s VAT and the central government’s excise duty are the applicable taxes on petrol in Nagpur.

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