After the daily revision on 1 November 2017, the petrol price was Rs.69.97 per litre in Shimla, which is the capital city of Himachal Pradesh. The price was Rs.69.13 in Solan, the largest Municipal Council of Himachal Pradesh and was Rs.69.13 in Dharamsala, the second winter capital of Himachal Pradesh. The petrol price consists of crude oil prices and taxes. With the daily revision in place, petrol prices in Himachal Pradesh are expected to be steady over the next month.
Historic Petrol Price in Shimla (per litre)
In October 2017, the highest petrol price was Rs.71.56 and the lowest price was Rs.68.94 in Shimla. Since the central excise duty was reduced to Rs.19.48 on 3 October 2017, the fuel price was down by Rs.2 in all parts of Himachal Pradesh. Petrol prices in September 2017 and August 2017 were comparatively low. The highest rate for July 2017 was Rs.66.16 and the lowest rate was Rs.63.97 in the capital city.
Trend in Petrol Price in Himachal Pradesh between January 2018 and March 2018
| January | February | March | |
| Opening date price | Rs.70.16 per litre | Rs.73.19 a litre | Rs.71.79 a litre |
| Closing date price | Rs.73.08 per litre | Rs.71.66 a litre | Rs.73.07 a litre |
| Highest price | Rs.73.08 per litre on 31 | Rs.73.51 a litre on 6 and 7 | Rs.73.07 a litre on 31 |
| Lowest price | Rs.70.16 per litre on 1 | Rs.71.66 a litre on 27 and 28 | Rs.71.79 a litre on 1 |
| Trend | Increasing | Falling | Increasing |
| % Deviation | 4.16% (Up) | 2.09% (Down) | 1.78% (Up) |
Trend in Petrol Price in Himachal Pradesh in January 2018
- Interestingly, the fuel was priced the lowest at Rs.70.16 a litre on 1 since it was on an upward tendency this month. Neither the central tax nor the state tax was slated to decline in January.
- Therefore, an unstoppable growth in the fuel prices in Shimla, Solan and Dharamsala throughout the month was triggered by a big variation in the INR/USD conversion rate and the crude oil price.
- An offer of Rs.70.16 per litre was retained by the OMCs across Himachal Pradesh on 1, 2 and 3 owing to unchanged overseas price influencers.
- During the first half, the state produced a 1.69% hike in the fuel price triggered by a drop in the value of the greenback and the price of the Indian Crude Basket.
- The crude oil’s demand was reasonably hiked this month; due to which; the fuel entities never decreased the offer. Ultimately, on 31, the last day, they unveiled the highest rate of Rs.73.08 a litre.
- Compared to the earlier month, the growth rate was marginally up (4.16%) as the crude oil’s rate increased by 7.65%.
Trend in Petrol Price in Himachal Pradesh in February 2018
- The first day price offer remained unaffected by the Union Budget, which was announced by the Central Government on 1 for the current fiscal year. It was revised at Rs.73.19 a litre at Indian Oil, Hindustan Petroleum and Bharat Petroleum.
- It is uncommon to watch the highest fuel price falling within the first week at Rs.73.51 a litre, which means the fuel rates have fallen later on.
- The Central Government preserved the same level of the excise duty and even the VAT in Himachal Pradesh was not changed this month.
- So, a 5.53% fall in the Indian Crude Oil basket influenced the petrol prices in Himachal Pradesh to reduce by 2.09%. A gained USD also had a reasonable impact.
- In Shimla, Solan and Dharamsala, the fuel was priced the lowest at Rs.71.66 a litre on 27 and 28 considering the overall performance of global factors.
- A 2.09% drop in the fuel rate was announced at Indian Oil, a premier OMC in India, and other OMCs as well. This was completely because of a big fall in global crude oil prices (WTI and Brent), but no other global elements should be accounted for.
Trend in Petrol Rates in Himachal Pradesh in March 2018
- Unrefined oil commenced recouping its price in sync with its demand. Unlike February, the highest price range was not declared within the first week.
- The fuel was valued at Rs.72.6 a litre on 6, 7 and 8, Rs.72.64 a litre on 9 and 11, and Rs.72.68 a litre on 13 and 14.
- The petrol prices in Himachal Pradesh were stable since there were no major changes in global politics, the demand and supply pattern of the commodity, and the USD/INR exchange ratio.
- At the end of the second week, under the daily revision mechanism, the OMCs have offered a petrol price of Rs.72.66 per litre across the state, which was up 67 paise compared to the opening day price.
- The value of the base currency decreased to Rs.65.13 on 31 and the cost price of overseas crude oil increased to $63.80 per barrel, which is equivalent to 159 litres.
- As a result, in this month, Shimla and other major cities have registered a 1.78% increase in the petrol price. The growth rate was not that great.
- For this quarter, the lowest fuel price stood at Rs.70.16 a litre whereas the highest fuel rates was offered at Rs.73.51 a litre.
