Today Petrol Price in Karnataka is INR 102.43 per liter and Diesel Price in Karnataka today stand at INR 88.31 per liter.
One of the most favoured states in South India is Karnataka. Large IT and biotechnology-based enterprises have headquarters in Bangalore, India's Garden City. This city is located at 3000 ft above sea level. More than 10 million people call it home, making it the third most populous city in the nation and the sixth most populous metropolitan agglomeration overall. As of February 2016, there were 1,46,23,135 non-transport vehicles registered in Karnataka, whereas there were 1,61,51,461 transport vehicles.
The state's fuel use is rising at an alarming rate due to the rise in the number of automobiles powered by fuel. This is another reason why the petrol price in Karnataka is higher than in other states.
Today's Petrol Price in Karnataka is INR 102.43 per liter.
Petrol price in Karnataka costs an average of Rs 101.13 and Rs 104.29 per litre. There has been no change in the pricing in Karnataka in January 2023. Petrol prices in Karnataka have stayed stable in the last quarter of 2022. Several variables influence pricing, including the rupee-to-US-dollar exchange rate, crude oil cost, global signals, and gasoline demand. Since June 2017, when a new method was established, fuel prices have been updated daily at 6 am.
The Diesel Price in Karnataka Stand at INR 88.31 per liter.
Diesel is traded at an average price of Rs 87.13 and Rs 89.83 in Karnataka. Diesel prices in Karnataka have been stable since November 2022. Fuel prices are based on a dynamic fuel pricing system and are updated regularly.
The 'Dynamic Fuel Pricing' method changes the Karnataka fuel price daily. In June 2017, India implemented this approach to promote competition and transparency in fuel selling. Every day at 6 am, the fuel price in Karnataka is reset across the state.
At times, the price remains unchanged from the prior day. However, for each day, the fuel prices in Karnataka are posted across the state's gas stations and may also be accessible by consumers via oil firms' websites and apps.
Fuel prices are continuously updated based on the dynamic fuel pricing system. The exchange rate between the rupee and the US dollar, the price of crude oil, regional trends, and the demand for fuel are only a few of the variables that affect costs. Since a new mechanism was implemented in June 2017, fuel prices have been updated daily at 6 am.
Numerous variables affect how much petrol prices are in Karnataka. The OMC expenses include operational, refinery, transportation, freight and permit costs. All petroleum products sold in the country must also pay central excise taxes and state value-added taxes in addition to the retailer's fee (VAT). State-by-state across the nation, this VAT varies. Under the dynamic fuel pricing system, crude oil costs are used to establish national fuel prices. If oil prices fall globally, domestic fuel prices will also reduce, and vice versa.
Skill petrol prices in Karnataka are figured out and how they could be contrasted with different states. Likewise, track down the current Karnataka petroleum cost and parts influencing petroleum costs in India. The underneath petroleum value pattern in Karnataka offers subtleties like the most noteworthy and least petroleum costs recorded during a month.
In Karnataka, the petrol price in Karnataka varies from 101.13 - 89.83 rupees per litre. The price of fuel in Karnataka is typically updated every day. The current price of fuel in Karnataka is obtained from Hindustan Petroleum Corporation Limited and is subject to change both inside the city and at other business outlets. All State and Central Taxes are included in the per-litre retail price of petrol in Karnataka.
In keeping with the worldwide market, petrol prices in Karnataka are rising. It is crucial to verify the price of fuel before stopping at the gas station because it is regularly revised daily. In Karnataka State, petrol prices have increased due to the rupee's declining exchange rate against the dollar. The current price of petrol in a location can be found using various user-friendly methods that oil companies have created.
Petrol prices in Karnataka are influenced mainly by global crude oil prices and the daily INR-USD exchange rate. Following are OMC charges (import, refining, processing, and freight) and dealer commissions. The federal excise charge is applied to this, followed by the state government's VAT. As a result, the ultimate petrol price in Karnataka is the sum of all these levies.
The most expensive fuel price in Karnataka was 101.7 per litre on January 4, 2023, for petrol.
The state government of Karnataka has established a state-based value-added tax, which is presently set at 30%.
The price of petrol in Karnataka is mainly affected by the price of crude oil on the world market and the current INR-USD exchange rate.