Hyderabad is the capital city of Andhra Pradesh. The average price of petrol in October 2017 was above Rs.72.00 per litre. The highest rate for the last three months was Rs.74.83 per litre while the lowest rate was Rs.66.99 per litre. Petrol rates have shown an increasing trend in September, August and July 2017. Due to the effect of dynamic fuel pricing, they were low in June 2017.
Visakhapatnam is the financial capital of Andhra Pradesh. In the city, the average petrol price in October 2017 was Rs.73.60 per litre. On 1 September 2017, petrol was priced at Rs.74.79. On 1 August 2017, the price was Rs.70.78. On 1 July 2017, the fuel was sold at Rs.68.20. In October 2017, the average petrol price in Vijayawada was more than the average price in Visakhapatnam and Hyderabad.
How are Petrol Prices in Andhra Pradesh Revised?
Since 16 June 2017, all petrol bunks across the state have been updating petrol rates on a daily basis. The system of revising fuel rates on a daily basis is called dynamic fuel pricing. The daily price revision will occur on the basis of the variations in global crude oil prices and the exchange rate. Adopting the dynamic fuel pricing system will align the Indian fuel retail market with global oil markets. Oil marketing companies (OMCs) are likely to benefit from the daily revision of fuel rates.
Quarterly Petrol Price Trend In Andhra Pradesh between January 2018 and March 2018
| January | February | March | |
| Opening date price | Rs.74.09 per litre | Rs.77.36 a litre | Rs.75.79 a litre |
| Closing date price | Rs.77.22 per litre | Rs.75.72 a litre | Rs.77.89 a litre |
| Highest price | Rs.77.22 per litre on 30 | Rs.77.71 a litre on 6 | Rs.77.89 a litre on 31 |
| Lowest price | Rs.74.09 per litre on 1 | Rs.75.71 a litre on 25 | Rs.75.79 a litre on 1 |
| Trend | Increasing | Falling | Increasing |
| % Deviation | 4.05% (Up) | 2.17% (Down) | 2.70% (Up) |
Trend in Petrol Price in Andhra Pradesh in January 2018
- The OIl Manufacturing Companies in India has declared an average petrol price of Rs.74.09 per litre on 01 January 2018 in Andhra Pradesh. This was also the lowest petrol rate recorded for the month.
- For the first four days of the month petrol prices remained unchanged despite a slight decrease in the value of the USD.
- Petrol prices slightly picked up on 5 January as an after-effect of the fall in the exchange value of the USD and traded at Rs.74.11.
- Petrol prices continued to surge in the following days and traded at Rs.74.68, Rs.75.24, Rs.76.65, Rs.77.01 on 9, 14, 23, and 27 respectively.
- The highest petrol price of Rs.77.22 per litre was recorded on 30th of the month.
- Overall, petrol prices marked a 4.05% incline for the month of January mainly due to the fluctuations in the INR/USD exchange value and the frequent rise in crude oil prices.
Trend in Petrol Price in Andhra Pradesh in February 2018
- Petrol was valued at Rs.77.36 a litre on 01 March 2018.
- Owing dynamic fuel pricing, the fuel rates have gone up marginally in line with global factors, including the price of crude oil and the exchange rate in the second week of the month.
- Petrol prices started to increase significantly on 14 January when the fuel was valued at Rs.75.24 per litre. Soon, petrol rate increased further and settled at Rs.76.13 per litre on 20th of the month.
- However, the highest petrol rate of Rs.77.71 a litre was recorded on 6 February.
- The steady increase in petrol price can be attributed to the declining USD value. The US dollar value reduced by 0.14% and o.06% on 15 and 19 of January.
- The crude oil prices in Indian basket stood at $66.13 during the beginning of the month and increased to $67.86 per barrel by the end of the month which led to the increase in petrol prices.
- However, petrol prices scummed to high dollar rate and fell to the lowest on 25 February and was valued at Rs.75.71 a litre.
- Overall, the trend of petrol prices in Andhra Pradesh declined by 2.17%.
Trend in Petrol Rates in Andhra Pradesh in March 2018
- A slight increase was noted on the first day of the month as petrol was valued at Rs.75.79 a litre. This was also the lowest petrol price recorded for the month as the fuel prices had a steady growth throughout March recording an overall incline of 2.70% .
- On 3 March, petrol rate quickly jumped to Rs.76.24 per litre and continued to incline. The increase in petrol rates is mainly due to the fall in the value of USD by 0.04%, 0.29%, 0.19%, and 0.18% on 2, 5, 6, and 9 of March.
- Petrol prices increased further and traded at Rs.76.74, Rs.76.83, Rs.77.2 on 14, 25, and 28 of the month.
- The petrol prices were comparatively stable in Andhra Pradesh in the month of March since there were no major changes in global politics, the demand and supply pattern of the commodity, or the USD/INR exchange ratio.
- The highest petrol price of Rs.77.89 a litre was recorded on 31 March 2018.
