Petrol Price in Ranchi

Daily & Monthly Petrol Prices in Ranchi

Petrol prices in Ranchi witnessed a growth by 60 paise per litre this week for the second day in a row. Moreover, leading oil companies has officially raised prices by 60 paise per litre on both petrol and diesel.

The Hikes:

Petrol and diesel prices were officially raised by 60 paise per litre this week. Oil PSUs had showcased daily price revisions on hold after the government raised excise duty on petrol and diesel by Rs. 3 per litre each in 2021. The excise duty was raised on consumers and oil companies. It has set them off against a critical decline in retail prices. India is importing 85 percent of its oil and retail fuel prices that are benchmarked to international rate.

The Strategy:

Reputed oil companies are accumulating the gains. It has been significantly growing from the drop in international oil prices to a two-decade low in April. 

The Gains:

The government has mopped up close to Rs 2 lakh crore in revenues from the March 14 and May 6 excise duty hikes. The overall situation of the petrol was worth Rs. 32.98 per litre and that on diesel to Rs. 31.83.

Why is The Petrol Price of Ranchi Updated Regularly?

Petrol prices are updated at regular intervals because of the constant fluctuations in the pricing system. Petrol prices were updated regularly depending upon the US dollar exchange rate and the average global crude oil price. The process is organized that does not allow dealers to raise or decrease the price without any fluctuations in the crude oil. The newly formed strategy was executed to supply fuel at the crude oil price of the previous day and the US dollar’s global exchange rate. 

Ways to Check The Petrol Rate in Ranchi

With the advanced pricing system in place, petrol’s price is comparatively more or less different from those previous statistics. If we address today’s petrol price in a city, it comes up with a very complexion. OMC has come up with several potential ways for verifying the price of petrol daily. 

Mobile apps

Oils companies disclose their corresponding mobile apps for regular checking of the petrol prices. IOC has recently launched the Fuel@IOC app. BPCL consumers also use the SmartDrive app. 

Via SMS

To check the petrol rate of Ranchi via SMS, follow the below details: 

IOC: SMS RSP dealer code and send it to 9224992249

HPCL: SMS HP PRICE dealer code and send it to 9222201122

BPCL: SMS RSP dealer code and send it to 9223112222

Via website:

Fuel consumers can easily visit the specific OMC website to ensure the current price of petrol of Ranchi. The customers can also visit Dialabank to check the best and accurate petrol price of all the cities including Ranchi. 

How is Petrol Rate Calculated in Ranchi?

The retailer’s commission, the profit margin of the OMCs, the state VAT imposed on petrol and the excise duty are major elements that predict the retails selling price of petrol in Ranchi. Crude oil is considerably traded on a global basis in US dollars. The global oil market also deals in supply and demand in developed countries, natural factors, and the USD’s exchange rate against global currencies. In all the country regions, including Ranchi, the central excise duty is anticipated to remain the same, primarily concerning the petrol pricing model. 

How is The Petrol Price in Ranchi Revised?

To adjust the fuel prices, India has some following dynamic fuel pricing mechanisms currently in operation. This type of dynamic fuel pricing is a system for fuel pricing that always considers fuel prices regularly, relying on the crude oil markets and currency exchange rates. In June 2017, after a pilot operating in some cities across India, the complete method was established in India. The United States of America, Australia, and Russia are other countries that are also following this new mechanism for petrol pricing to maintain smooth cash flow, the economy as well as transparent petrol price. Let’s examine the benefits of dynamic fuel pricing. The petrol price adjustment is undertaken all day morning at 06:00 a.m. The price of petrol will be modified automatically by all these automated filling stations. All non-the automated refuelling stations will manually adjust this correct price of petrol. Distributors can very only manage working capital efficiently. This type of mechanism always allows dealers to have craftier stock or stock control Adjustments in crude oil prices, and INR / USD rates will be immediately transferred to end-users. By downloading the oil marketing companies’ smartphone apps like Indian Oil, Bharat Petroleum, Hindustan Petroleum, and Shell Oil, Ranchi’s petroleum, every customer can monitor the current petrol price. Or they can either go via SMS or customer support facilities. Through all the mechanisms, petrol consumers of Ranchi can very track the correct and transparent petrol price of the city of Ranchi.

OMCs Mobile Apps to Monitor the Petrol Price of Ranchi

The customers in Ranchi are facing challenges in monitoring the relevant petrol price of Ranchi. It is not just about Ranchi, but petrol customers have faced this issue in all the major countries. India’s leading oil companies such as Hindustan Petroleum, Bharat Petroleum, Indian Oil are keeping the trends with the current petrol cost in Ranchi in various fuel customers’ methods. India’s leading oil companies have officially released the Dynamic Fuel Pricing system, leading to a regular revision of petrol prices across the country. The smartphone apps developed by the oil companies also allow the users to track Ranchi’s petrol price.

The trend of Petrol Price in Ranchi for February 2022

Monthly Petrol Price Trend in Ranchi for February 2022:

– The price of petrol in Bangalore at Rs.98.52 on the 1st of February as prices continued to rise high.
– The price of petrol closed the week at Rs.98.52.
– The price of petrol overall percentage change was 3.43%.

The trend of Petrol Price in Ranchi for January 2022 (rates per litre):

Monthly Petrol Price Trend in Ranchi for January 2022:

• In Ranchi, the price of petrol opened at the rate of Rs.84.80 per litre. When compared to the fuel’s closing rate for December, there was no change in the price.
• Petrol prices in Ranchi fluctuated in the state over the month. The fuel recorded its highest price for the month from 27th to 31st January wherein it stood at the rate of Rs.85.12 per litre. The lowest price was recorded on 1st, 2nd, and 3rd January wherein a litre of petrol was retailing at the rate of Rs.85.12 per litre.
• The fuel’s overall performance witnessed an inclining trend in Ranchi, with the percentage change witnessing an incline of +2.36%.

The trend of Petrol Price in Ranchi for December 2021 (rates per litre):

Monthly Petrol Price Trend in Ranchi for December 2021:

• In Ranchi, the price of petrol opened at the rate of Rs.81.92 per litre. Compared to the fuel’s closing rate for November, there was no change in the price of the liquid gold in Ranchi.
• Petrol price in Ranchi rose during the first few days of the month followed by which it was quite steady. The fuel recorded its highest price for the month on 7th and 8th December, after which it stood at the same rate between 12th December and 29th December. During this period, the price stood at the rate of Rs.83.40 per litre. The lowest price was recorded on 2nd December wherein a litre of petrol was retailing at the rate of Rs.81.86 per litre.
• The fuel’s overall performance witnessed an inclining trend in Ranchi, with the percentage change witnessing an incline of +1.55%.

The trend of Petrol Price in Ranchi for November 2021 (rates per litre):

Monthly Petrol Price Trend in Ranchi for November 2021:

• In Ranchi, the price of petrol opened at the rate of Rs.81 per litre. There was a rising trend in the price of the fuel over the month with gradual fluctuations.
• Petrol price in Ranchi was steady from the beginning of the month till the 12th of November. The fuel recorded its highest price for the month on 29th and 30th November, wherein it stood at the rate of Rs.82.03 per litre. The lowest price was recorded from 1st to 12th November, wherein the fuel retailed price was at the rate of Rs.80.73 per litre.
• The fuel’s overall performance witnessed an inclining trend in Ranchi, with the percentage change standing at 1.26%.

The trend of Petrol Price in Ranchi for October 2021 (rates per litre):

Monthly Petrol Price Trend in Ranchi for October 2021:

• Petrol price in Ranchi opened the month of October at Rs.80.91 per litre. There was no change in the rates when compared to the closing price of the previous week.
• Over the month, the price of petrol didn’t see much change in the city. The fuel recorded its highest price for the month on 10th October with a litre costing Rs.81.12.
• Petrol closed the month at Rs.81.12 per litre. The fuel’s overall performance in the metropolitan city remained stable as there was no change in the opening and closing price.

The trend of Petrol Price in Ranchi for September 2021 (rates per litre):

Monthly Petrol Price Trend in Ranchi for September 2021:

• A litre of petrol was priced at Rs.81.52 at the start of the month in Ranchi. The opening price of the fuel was the highest for the month. Compared to the closing price of the previous month, the price of petrol was up by 5 paise in the city.
• The price of petrol witnessed a lot of fluctuations in the city of Ranchi over the month. Petrol recorded its lowest price for the month on the 29th and 30th of September. Oil companies retailed a litre of petrol for Rs.80.73 on the mentioned dates.
• Petrol’s overall performance in Ranchi witnessed a declining trend. The percentage change recorded in the rates stood at -0.98%.

The trend of Petrol Price in Ranchi for August 2021 (rates per litre):

Monthly Petrol Price Trend in Ranchi for August 2021:

• The month of August opened with the price of petrol being traded at the rate of Rs.80.30 per litre in Ranchi. There was no change in the price till the 9th of August.
• Over the month, the price of petrol witnessed fluctuations in the city of Ranchi. The fuel recorded its lowest prices from 1st August to 9th August and 12th August to 14th August, wherein it stood at the rate of Rs.80.30 per litre.
• The price of petrol in Ranchi closed the month of August being traded at the rate of Rs.80.83 per litre. There was a rising trend in the fuel’s overall performance, with the percentage change being +1.65%.

FAQs

What is today’s Petrol price in Ranchi?

Today’s Petrol price in Ranchi is 87.55 ₹/L per litre.

What was the highest Petrol price in Ranchi?

The highest Petrol price in Ranchi was ₹98.52 per litre on 18th February 2022.

When was the highest Petrol price in Ranchi?

At ₹ 98.52 per litre, the highest Petrol price in Ranchi was recorded on 18th February 2022.

What is the current Petrol price in Ranchi?

The current Petrol price in Ranchi is ₹ 87.55 per litre.

What was the highest Petrol price in Ranchi in the last 5 years?

The highest Petrol price in Ranchi in the last 5 years was ₹ ₹98.52 per litre on 20 February 2022.

What was the highest Petrol price in Ranchi in the last 10 years?

The highest Petrol price in Ranchi in the last 10 years was ₹ 81.79 per litre on 29th August.

What was the highest Petrol price in Ranchi in 2021?

The highest Petrol price in Ranchi in 2021 was ₹ 83.40 per litre on 31 December 2019.

What was the lowest Petrol price in Ranchi in 2021?

The lowest Petrol price in Ranchi in 2021 was ₹ 81.86 per litre on 04 January 2021.

What was the highest Petrol price in Ranchi in 2022?

The highest Petrol price in Ranchi in 2022 was ₹ 98.52 per litre on 18th February 2022.

What was the lowest Petrol price in Ranchi in 2022?

The lowest Petrol price in Ranchi in 2022 was ₹ 81.86 per litre on 1st January 2022.

News

Petrol Prices in Ranchi have Increased by 70-80 paise in the Last Nine Days.

Petrol and diesel prices have risen by 70-80 paise per litre in the last nine days. While petrol prices have increased by 83 paise per litre, diesel prices rose by 73 paise. On Tuesday, petrol prices increased by 11 paise per litre, while diesel prices increased by 5 paise. In Delhi, petrol is being sold at Rs.71.86 per litre compared to yesterday’s price of Rs.71.03 per litre. Likewise, diesel is being sold at Rs.66.69 per litre, up from Rs.65.96 per litre recorded yesterday. In the financial capital of Mumbai, petrol is available at Rs.77.47 per litre, and diesel costs Rs.69.88 per litre. 

Petrol prices  in various Indian cities

Oil companies reduced petrol and diesel prices on Wednesday, 16 January, after reducing continuously for six days. Petrol price in Delhi was revised to Rs.70.33 a litre and diesel price to Rs.64.59 a litre. As the official website of Indian Oil, the petrol rate was down by 8 paise per litre to Rs.75.97, whereas diesel price was up by 13 paise per litre to Rs.67.62 Mumbai.

High Petrol Rates: 4 Aspects may Assist

Oil Minister recently stated that we are holding discussions with fuel companies to implement necessary actions. Fuel retailers such as HPCL, BPCL and IOCL benefited greatly with the price of unrefined oil reaching a new high. Oil and Natural Gas Company suffices 20% of the country’s oil requirements. It may be asked to sell crude oil rates at a lower price. Oil Minister has given the nod to the Indian Commodity Exchange to introduce futures to petrol and diesel.