Petrol Price in Shimla

Historical Petrol Price in Shimla

Petrol Price in Shimla

Crude oil is considered as one of the vital raw materials for petrol. Currently, over 75% of India’s crude oil is meant through imports. International prices of crude oil and foreign exchange rates are among the base elements in recognizing the price of petrol. Moreover, they majorly form a small component of the retail price. A host of other factors recognizes the final price. Over more than 57% of the retail petrol price per litre meets taxes, duties, dealer margin, cesses. To analyze the mechanism for the pricing of petrol, it is essential to determine stakeholders involved in the production process to retailing of petrol.

Oil Production and companies

The leading oil companies are responsible for producing oil in crude. There is a combination of private sector companies like Cairn India Ltd, Reliance Industries, and public sector counterparts like Oil and Natural Gas Corporation, Oil India and others in the sector. Moreover, these companies cater to only 25% of India’s crude oil requirement. The rest of the crude oil is imported.

Oil Marketing Companies

The crude oil is then bought by Oil Marketing Companies (OMCs), which handle oil from its crude stage until it is handed to the dealers in its refined form. Thus, OMCs refining crude oil into petrol and selling the refined petrol to the dealers. This sector also comprises both public and private companies. However, the three PSUs- Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL) and Hindustan Private Corporate Limited (HPCL) control around 95% of this sector, while the two private players- Reliance Industries and Essar cater to the remaining market.

Dealers

Dealers are individuals or businesses that own petrol pumps. Thus they are the final sellers of petrol to end users at retail prices, after adding taxes and their own margins.

Why is The Petrol Price of Shimla 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 Shimla

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 Shimla via SMS, follow the below details: 

IOC: SMS RSP dealer code and send it to 9224992249

HPCL: SMS HPPRICE 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 Shimla. The customers can also visit Dialabank to check the best and accurate petrol price of all the cities including Shimla. 

How is Petrol Rate Calculated in Shimla?

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 Shimla. 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 Shimla, the central excise duty is anticipated to remain the same, primarily about the petrol pricing model. 

How is The Petrol Price in Shimla 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, Shimla’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 Shimla can very track the correct and transparent petrol price of the city of Shimla.

OMCs Mobile Apps to Monitor the Petrol Price of Shimla

The customers in Shimla are facing challenges in monitoring the relevant petrol price of Shimla. It is not just about Shimla, 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 Shimla 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 Shimla’s petrol price.

The Trend of Petrol Price in Shimla for February 2021

The lowest Petrol price in Shimla in 2021 was ₹ 84.89 per litre on 1st February 2021.

Monthly Petrol Price Trend in Shimla for January 2021:

• In Shimla, 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 Shimla 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 Shimla, with the percentage change witnessing an incline of +2.36%.

The Trend of Petrol Price in Shimla for December 2020 (rates per litre):

Monthly Petrol Price Trend in Shimla for December 2020:

• In Shimla, the price of petrol opened at the rate of Rs.81.92 per litre. When compared to the fuel’s closing rate for November, there was no change in the price of the liquid gold in Shimla.
• Petrol price in Shimla 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 Shimla, with the percentage change witnessing an incline of +1.55%.

The Trend of Petrol Price in Shimla for November 2020 (rates per litre):

Monthly Petrol Price Trend in Shimla for November 2020:

• In Shimla, 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.
• The petrol price in Shimla 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 Shimla, with the percentage change standing at 1.26%.

The Trend of Petrol Price in Shimla for October 2020 (rates per litre):

Monthly Petrol Price Trend in Shimla for October 2020:

• Petrol price in Shimla 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 Shimla for September 2020 (rates per litre):

<table style=”width%