Petrol Price in Punjab

Today, on May 23rd, 2024, the average price of petrol in Punjab is ₹96.76 per liter. The price of petrol in Punjab affects the daily lives of its inhabitants. The price of petrol in Punjab, like other states in India, is revised on a daily basis and it is influenced by several factors, including international crude oil prices, exchange rates, and taxes levied by the central and state governments.

The central government in India levies an excise duty on petrol, while the state government levies a value-added tax (VAT). These taxes are a significant factor in determining the price of petrol in Punjab and other states in India.

International crude oil price is another significant factor that influences the price of petrol in Punjab. India imports a significant amount of its crude oil from other countries, and the price of crude oil is influenced by global demand and supply factors, including geopolitical tensions, production cuts by oil-producing countries, and changes in the global economic landscape. The exchange rate also plays a crucial role in determining the price of petrol in Punjab. Since crude oil is traded in US dollars, any fluctuation in the exchange rate of the Indian Rupee against the US dollar can have a significant impact on the price of petrol.

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Petrol Prices in Top City of Punjab
(May 23, 2024)

City-wise List For Petrol Price

Amritsar 96.59₹/L -0.22
Barnala 96.18₹/L -0.09
Bathinda 96.46₹/L +0.34
Faridkot 96.58₹/L -0.05
Fatehgarh Sahib 96.86₹/L +0.23
Fazilka 96.55₹/L -0.35
Firozpur 96.88₹/L +0.29
Gurdaspur 96.61₹/L -0.13
Hoshiarpur 96.42₹/L -0.16
Jalandhar 96.19₹/L +0.01
Kapurthala 96.15₹/L -0.08
Ludhiana 96.45₹/L -0.07
Malerkotla 96.21₹/L +0.03
Mansa 96.28₹/L -0.23
Moga 96.87₹/L +0.06
Muktsar 96.50₹/L +0.13
Pathankot 96.89₹/L -0.02
Patiala 96.72₹/L -0.10
Rupnagar 96.84₹/L -0.10
Sangrur 96.21₹/L +0.18
Sas Nagar 96.95₹/L +0.10
Shd Bhagat Singh Ngr 96.20₹/L -0.38
Tarn Taran 96.76₹/L 0.00
View All Punjab Cities Petrol Prices

State-wise List For Petrol Price

Andaman and Nicobar Islands 82.42₹/L 0.00
Andhra Pradesh 109.36₹/L +0.83
Arunachal Pradesh 93.91₹/L -0.70
Assam 97.30₹/L +0.92
Bihar 105.75₹/L -1.19
Chandigarh 94.24₹/L 0.00
Chhattisgarh 101.53₹/L +0.01
Dadra and Nagar Haveli 92.51₹/L 0.00
Daman and Diu 93.34₹/L +0.95
Delhi 94.72₹/L 0.00
Goa 95.53₹/L 0.00
Gujarat 95.40₹/L +0.96
Haryana 95.62₹/L +0.26
Himachal Pradesh 95.21₹/L +1.85
Jammu and Kashmir 99.09₹/L -0.82
Jharkhand 99.43₹/L +0.33
Karnataka 99.84₹/L -0.49
Kerala 106.30₹/L +0.87
Madhya Pradesh 106.95₹/L -0.57
Maharashtra 104.08₹/L -0.87
Manipur 99.15₹/L +0.10
Meghalaya 96.64₹/L +1.72
Mizoram 93.79₹/L -0.76
Nagaland 99.21₹/L +3.04
Odisha 101.13₹/L -1.64
Pondicherry 94.03₹/L +2.16
Punjab 96.18₹/L -0.58
Rajasthan 104.52₹/L -1.10
Sikkim 100.85₹/L 0.00
Tamil Nadu 100.98₹/L -0.57
Telangana 108.39₹/L +0.91
Tripura 97.46₹/L +0.82
Uttar Pradesh 94.76₹/L +0.37
Uttarakhand 94.96₹/L +1.14
West Bengal 104.21₹/L -0.96
View All States Petrol Prices

Frequently Asked Questions (FAQs)

Fuel prices can vary from state to state and even within the same country for several reasons:

  • Taxation: One of the primary reasons for price variations is the difference in state and local taxes. Each state in a country may impose its own taxes on gasoline, which can lead to significant price discrepancies. States with higher taxes tend to have higher fuel prices.
  • Transportation Costs: The cost of transporting fuel from refineries to distribution points and then to retail outlets can vary from one state to another. States farther from refineries or major transportation hubs may have higher transportation costs, which can affect the final price.
  • Supply and Demand: Regional variations in supply and demand can also influence prices. Areas with higher demand and limited supply may experience higher prices. Seasonal factors, such as increased travel during holidays or extreme weather conditions, can further affect demand and prices.
  • Local Regulations: Some states or municipalities may have specific environmental regulations that require different formulations of gasoline, which can be more expensive to produce. These regulations can impact prices, as can requirements for additional additives or ethanol blends.
  • Competition: The level of competition among fuel retailers can affect prices. In areas with more competition, prices may be lower as retailers strive to attract customers. Conversely, in areas with fewer options, prices may be higher.
  • Refining Capacity: The availability of refineries within a state can influence fuel prices. States with more refineries may have a more stable and lower-priced supply, while states that rely on imports from other regions may experience price fluctuations.
  • Exchange Rates: In countries where fuel is imported, exchange rates can play a role. Fluctuations in currency exchange rates can affect the cost of importing crude oil and, consequently, fuel prices.
  • Government Subsidies: Some countries offer subsidies or price controls on fuel to stabilize prices or make it more affordable for consumers. These subsidies can vary by region, affecting the final price consumers pay.
  • Distance from Ports: Proximity to seaports and major distribution hubs can impact prices. Areas located near ports may benefit from lower transportation costs, while landlocked regions may face higher costs.
  • Economic Factors: The overall economic conditions in a state can also influence fuel prices. Areas with a higher cost of living may see higher fuel prices, as businesses pass on their increased expenses to consumers.

Due to these factors and more, fuel prices can vary significantly from state to state. It's important to note that while these are common reasons for variations, the specific factors affecting prices can differ from one country to another. Additionally, fuel price fluctuations can be influenced by global events such as changes in oil prices, geopolitical tensions, and supply disruptions.

In some countries, including India, there is no Goods and Services Tax (GST) applied to petrol and diesel due to several reasons:

  • State-Level Taxes: In many countries, petrol and diesel are primarily subject to state-level taxes rather than a national GST. These taxes are a significant source of revenue for state governments. States in these countries have the authority to impose their own taxes on petroleum products, which allows them to have more control over pricing and revenue generation.
  • Revenue Generation: State governments often rely heavily on taxes from petrol and diesel to fund various infrastructure and welfare projects. These taxes can provide a stable source of income, and changes to the taxation structure could impact state budgets.
  • Revenue Variability: Petrol and diesel prices are known to fluctuate, often due to international oil prices. Implementing GST on these products could result in revenue volatility for state governments, as GST is typically a fixed percentage of the product's price. This could make budget planning more challenging.
  • Political Considerations: The issue of petrol and diesel taxation can be politically sensitive. High fuel prices can lead to public dissatisfaction, and politicians may be hesitant to impose GST, which could result in a higher tax burden on consumers.
  • Complexity: The petroleum industry is complex, with various components such as refining, distribution, and marketing. Introducing GST on petrol and diesel could add complexity to the tax system and require significant administrative adjustments.

While these reasons explain why some countries do not apply GST to petrol and diesel, it's essential to note that tax policies and practices can vary significantly between countries, and decisions about how to tax petroleum products are influenced by a combination of economic, political, and administrative factors.