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Petrol Price Today, 18th June: How is the rate determined in India?

It's also important to note that petrol isn't presently covered under the Goods and Services Tax.

By Newsd
Published on :
Petrol And Diesel Prices Today On June 10

Petrol Price Today: India’s petrol prices are told by a combination of transnational crude oil prices, domestic duty structures, and currency exchange rates. As of the rearmost data, the price of petrol in India has been observed to be significantly advanced than in some of its neighboring countries. This distinction can be attributed primarily to the advanced levies assessed on petrol in India

Petrol Price Today In India

  • Ahmedabad ₹94.44
  • Bangalore ₹102.86
  • Chennai ₹100.75
  • Gurgaon ₹94.9
  • Hyderabad ₹107.41
  • Jaipur ₹104.88
  • Kolkata ₹103.94
  • Lucknow ₹94.56
  • Mumbai ₹104.21
  • New Delhi ₹94.72
  • Noida ₹94.72
  • Pune ₹104.53

Petrol And Diesel Prices Today On June 10, 2024: Check Rates In Your City Today

Factors That Affect Petrol Price In India

The Petroleum Planning and Analysis Cell( PPAC) has also listed a many important factors that affect the variations of petrol costs in India

Crude Oil Cost: Crude oil is the unrefined oil from which petrol and diesel are uprooted. The prices of crude oil internationally directly affect the prices in India. The crude oil prices are decided grounded on transnational force and demand, unborn reserves, foreign relations,etc.

Demand: The demand for petrol had gone down vastly during the extended COVID- 19 lockdowns. So, product around the world had been dropped proportionally in numerous countries.

Taxes: One of the most influential factors when it comes to the price in India is the levies that are levied by the Central and State governments. These duty rates keep changing, which directly leads to the price of petrol adding or dwindling.

Rupee To Dollar Price: The price of the rupee to the dollar also directly affects the price of petrol. Since around 80 of all oil painting used in India is imported, the price of the rupee also greatly affects the price of petrol.

All the different factors listed over and other lower factors that are unrecorded end up affecting the final price in India. It’s also important to note that petrol isn’t presently covered under the Goods and Services Tax( GST). Hence, the Excise Duty is charged by the Central government on petrol for duty profit, whereas the State Governments charge Handbasket( Value- Added duty).
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