Today's Petrol Price in West Bengal

Revision of Petrol Prices in West Bengal

India has rolled out dynamic fuel pricing in June 2017 by dropping the 15-year old fortnightly-based revision mechanism. Dynamic fuel pricing is a fuel pricing mechanism that revises fuel prices daily in line with crude oil rates and the exchange rate, thereby makes fuel consumers to pay the market-determined price. The mechanism is also used by Russia, Japan, the United States of America (USA) and Australia. India joins the list.

How will I get the Latest Petrol Price in West Bengal?

Here goes the answer. Every day, you have a different price for petrol. You can get today's petrol rate in West Bengal by using mobile applications offered by Indian Oil, Hindustan Petroleum, Bharat Petroleum and Shell Oil. Or, you can make an SMS request or directly talk to customer service representatives to get today's petrol price in West Bengal. It can be checked online as well. Once the fuel price is revised at 06:00 a.m., the revised rate shall be made available to fuel consumers.

Factors impacting Petrol Price in West Bengal

An exchange rate gives you the value of a currency against some other currency. The INR/USD currency pair gives the value of the INR, the Indian currency, against the USD, the currency of the United States of America. Currency traders trade this currency on the Forex Exchange market. If the INR/USD exchange rate falls, the price of crude oil gains. If the USD/INR exchange rate gains, the petrol price in West Bengal decreases.

Another factor that influences petrol prices in West Bengal is the cost of crude oil, which is influenced by global factors such as major political moves, the demand for oil in oil-producing and other countries. Any fluctuations in the cost price of crude oil will directly influence the petrol rate in West Bengal. Similarly, the ups and downs in central and state taxes shall affect the fuel price.

Does the GST system affect Fuel Rates in West Bengal?

The system of the Goods and Services Tax (GST) has transformed the way tax is imposed. The GST subsumes the indirect taxes that were levied before July 2017. The system offers a single taxation platform to tax goods and services that are sold within the country. But, petrol and the byproducts of petrol are out of the GST regime presently. Therefore, fuel prices in West Bengal remained unchanged.