Petrol Price in Karnataka

The petrol prices in Karnataka is turning more buoyant, in line with the global market. Petrol prices are revised regularly on a daily basis and hence it is important to check the prices of petrol before heading for the fuel station. The value of rupee against dollar has dipped which has led to the rise in the petrol prices in the Karnataka State.

Petrol Prices in Karnataka

Karnataka is one of the most popular states in South India. Bangalore, the Garden city of India has a huge IT and Biotechnology based companies based out. The city which is located over 3,000 feet above the sea level, is one of the highest Indian city based on elevation. The population is more than ten million and it accords to the third most populous city and holds the tag of being the fifth most populous urban agglomeration in the country.

As on February 2016, the total number of nontransport vehicles registered in the state of Karnataka runs up to 1,46,23,135; Transport vehicles registered stood at 1,61,51,461. The increasing number of petrol run vehicles in the state has made the consumption of petrol to grow at an alarming rate.

Petrol Prices are Revised Daily in Karnataka

The prices of petrol are revised on a regular basis at 6 am in the morning and the same will be followed across all the fuel stations in Karnataka. The changes in the prices will be likely in few paises. The prices of fuel in Karnataka depends on the existing prices of fuel in the global market apart from other external factors. If there is a change in the prices of fuel in the global market, it is likely to impact the prices of petrol even in the Karnataka State as well. It is better to check the prices of petrol on a regular basis before heading to the fuel station. If there is a small change in its prices and if we are heading for a large amount of petrol filling then it may mean a lot.

Tax Rate on Petrol in Karnataka

The recent government in Karnataka has increased hike in the tax rate of petrol from 30% to 32% and hence the prices of petrol in the state of Karnataka is costlier by Rs 1.14 per litre starting from July 6, 2018.

The hike was introduced as a measure to gain revenue from additional resources after the government announced a farm loan waiver scheme to benefit the farmers of the state.