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Sunday, 30 May 2021

Petrols, Diesel Price In India Today

Petrols, Diesel Price In India Today

Diesel – Petrol Price: Diesel Rates In India Are Revised On A Daily Basis. Diesel Prices Are Revised At 06:00 A.M. Every Day. This Makes Sure That Even A Minute’s Variation In Global Oil Prices Can Be Transmitted To Fuel Users And Dealers. Price Of Fuel Includes Excise Duty, Value Added Tax (VAT), And Dealer Commission. VAT Varies From State To State. After Adding Excise Duty, Dealer Commission And VAT, The Retail Selling Price Of The Petrol Gets Nearly Doubled. Various Factors Impact The Price Of Fuel. These Include Rupee To US Dollar Exchange Rate, Cost Of Crude Oil, Global Cues, Demand For Fuel, And So On. When International Crude Oil Prices Gain, Prices In India Move Higher.

Petrols, Diesel Price In India Today

The price paid by consumers largely reflects national pricing policy. Some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabiaand Venezuela, subsidize the cost. Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011.

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Petrol Prices in Gujarat Gujarat, the North Western State is a densely populated state with more than 60 million inhabitants. The developed state has many buyers for vehicles which in turn has led to the surge in the consumption of petrol over the last few years. The consumption of petrol has escalated to touch a new high in the state of Gujarat over the last five years. Currently, the petrol rates are revised on a daily basis as per the dynamic fuel pricing technique in India and it is centrally managed by the major oil marketing companies in the country. The new system of fuel pricing encounters the previous fuel pricing system which was revised once in 15 days. Under the dynamic fuel pricing system, the fuel prices in the country depend on the global crude oil prices. If the prices fall in the global market, the fuel prices in the domestic market will also come down and vice-versa. Fuel prices will be revised across the country automatically by automated fuel stations and manually by non-automated fuel stations. Tax Rates on Petrol in Gujarat Each and every state in the country levy a separate tax rate on the fuel prices. It usually differs from one state to another state. In Gujarat, the state government has imposed a state-based value added tax which currently stands at 25.45

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