Today Petrol Price in Assam is INR 96.61 per liter and Diesel Price in Assam today stand at INR 88.83 per liter.

Assam is among the leading oil-producing states in India. Petrol prices in Assam are among the least across India. The prices stay low thanks to sufficient crude production within the state, as Assam produces nearly 15% of total crude in India and accounts for 50% of land rigs in the country.

Fuel prices in Assam are subject to daily revision, with price adjustments happening at 6 am. However, factors like the forex rate, crude oil production, and domestic demands can make you pay extra at the fuel pump station. This blog will help you learn more about the latest fuel prices in Assam and what underlying factors fluctuate them.

Petrol Price in Assam

Today's Petrol Price in Assam is INR 96.61 per liter.

Petrol prices in Assam are the lowest across India. The latest petrol rates per litre lie between INR 96.1 to INR 97.44. These rates can change based on crude output, consumer demand, or fluctuation in excise duty and forex rates.

Petrol rates are cheapest in Assam thanks to its surplus production and lower than the national average consumer demand (1.7%). Here's more about the excise duty charged and other taxes that sums up the final amount you pay while refuelling at your nearest fuel pump in Assam:

• State excise duty is 32.66% or INR 22.63/l, whichever is higher.

• INR 19.90/l of petrol (central excise duty)

• Dealer commission (around 5%)

Diesel prices in Assam

The Diesel Price in Assam Stand at INR 88.83 per liter.

Diesel prices in Assam are also among the least throughout the country. It ranges between INR to INR 89.43 across 32 districts in the state. Although lower than the national average diesel price, rates can fluctuate depending on excise duty, forex rates, and crude oil output every day.

Assam accounts for nearly 1.5% of the total diesel consumed in the financial year of 2021-2022. Here's more information about the potential breakdown of the diesel price that you get to pay per litre at the fuel pump station.

• State excise duty is 23.66% or INR 17.45/l, whichever is higher.

• Central excise duty is INR 15.80/l

• Dealer's commission (around 5%)

Why Do Fuel Prices Fluctuate in Assam?

Although Assam is rich in crude assets, petrol prices in Assam fluctuate as it's a non-GST product. Both union and state government levy separate surcharges, and the nation's dependence on imports to compensate for domestic demands often lead to exorbitant fuel prices in the country. Here are the following reasons that trigger the fuel rates in Assam:

Higher Import Rates

India buys crude oil using USD. As a primary global currency, the USD is prone to fluctuations in the forex market. With a resilient $ against INR, the GoI has to pay more for the unit amount of crude imported, which makes you pay more per litre of fuel.

Lower availability

Oil is a fossil fuel and won't last beyond 2200, given its acute usage. OPEC+ nations control oil prices by lowering production rates. It leads to surging in crude rates as the import prices soar. Domestic consumers have to incur the inflation in such cases, while you end up paying more for a litre of motor fuel.

Excise Duty Rates

Petroleum products under GST would incur maximum excise duty of 18%. Currently, it's a non-GST commodity, meaning the union and state governments levy surcharges on fuel. The same applies to petrol prices in Assam, as you pay nearly 50% over the dealer's rate.

How Does Inflation on Fuel Prices in Assam Affect You?

Petrol prices in Assam play a crucial role in influencing retail inflation, as NE states depend on road transport for logistics delivery. Besides, locals rely on private vehicles and inflation in fuel prices affects overall spending and consumer behaviour. Here's more about the side effects of inflation:

• Enhances Consumer Price Index (% CPI)

• Reduces net retail spending

• Increase in retail inflation

• Less sale of motor fuel

Conclusion

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