Petrol Price in Jharkhand, Ranchi (per litre)

After the daily revision, the petrol price in Ranchi, the capital city of Jharkhand, was Rs.70.84 per liter on 03 November 2017. The components of the price are crude oil prices, the state and central levies and the exchange rate. The fuel price in Jamshedpur, the second largest city in Jharkhand, was Rs.70.65 per liter after the daily revision on 3 November 2017. Let’s make a comparative analysis of petrol prices in three major cities in Jharkhand.

Petrol Price in Ranchi (per liter)

On the first day of October 2017, the fuel price in Ranchi was Rs.71.95. On the closing day of the month, the fuel price diminished to Rs.70.67. The highest fuel price was Rs.70.05 and the lowest fuel price was Rs.69.99 in the month. The price has fallen by 1.81% in October 2017. In September 2017, the highest petrol price was Rs.71.87 and the lowest price was Rs.70.77. The petrol price was up by 1.53% in the month. In August 2017, the highest rate was Rs.70.69 and the lowest price was Rs.69.99. The price was down by 1.81%.

Quarterly Petrol Price Trend In Jharkhand between January 2018 and March 2018

	January	February	March
Opening date price	Rs.71.33 per litre	Rs.73.75 per litre	Rs.72.59 per litre
Closing date price	Rs.73.65 per litre	Rs.72.54 per litre	Rs.74.14 per litre
Highest price	Rs.73.65 per litre on 31	Rs.74.01 per litre on 6 and 7	Rs.74.14 per litre on 31
Lowest price	Rs.71.33 per litre on 1	Rs.72.53 per litre on 25	Rs.72.59 per litre on 1
Trend	Increasing	Falling	Increasing
% Deviation	3.15% (Up)	1.67% (Down)	2.09% (Up)

Trend in Petrol Price in Jharkhand in January 2018

On 01 January 2018, the US Dollar rate fell by 0.254% and petrol was priced at Rs.Rs.71.33 per liter. It is noteworthy to mention that thi8s was also the lowest petrol rate tracked in the first month of 2018.
Petrol prices remained unchanged for the first four days of the month before slightly increasing to Rs.71.35 on 5 January.
From 5 January there was a steady growth in petrol rates throughout the month as crude oil which was priced at $66.13 per barrel was raised to $67.23 per barrel on 17 January and further increased to $68.11 per barrel on 26 January. The constant raise in crude oil prices did not allow petrol prices in Ranchi, the capital city of Jharkhand decline due to which fuel rates inclined by 3.15% for the month of January.
Petrol prices further surged and was valued at Rs.73.26, Rs.73.42, Rs.73.53 on 24, 26, and 28 of the month.
As petrol prices was reactive to the increase in crude oil prices, the highest petrol rate for the month of January was Rs.73.65 per liter recorded on the 31st of the month.

Trend in Petrol Price in Jharkhand in February 2018

On 01 February 2018, petrol was valued at Rs.73.75 per liter which is a 10 paise increase from the previous day.
There was a constant increase in petrol prices during the first few days of the month when the fuel was sold at Rs.73.84, Rs.73.96, and Rs.74.01 on 4, 5, and 6 respectively. The fall in prices can be directly related to the fall in the value of the US Dollar rate by 0.02% and 0.11% on 5 and 6 of the month.
The highest petrol price of Rs.74.01 per liter was recorded on 6 and 7 of the month.
However, the following day’s petrol prices fell and traded at Rs.73.72, Rs.73.11, Rs.72.69 on 12, 17, and 22 respectively.
Petrol prices continued to fall and hit the lowest rate of Rs.72.53 per liter on 25 February.
Overall, the trend of petrol prices fell by 1.67% and marked a downward curve for the month.

Trend in Petrol Rates in Jharkhand in March 2018

The opening price of petrol in Ranchi, Jharkhand was Rs.72.59 per liter. This was also the lowest petrol rate recorded for the month.
Soon, petrol prices slightly increased and were sold at Rs.72.93 and Rs.73.23 on 3 and 6.
However, petrol prices started to fall to Rs.73.14 on 17 March as the dollar rate fell by 0.13%. Since then the fuel price continued to decline.
During the last few days, petrol prices picked up again and were valued at Rs.74.14 per liter as the price of crude oil per barrel increased in the Indian basket. This was also the highest petrol price recorded for the month.