Diesel and Petrol Price in Karnataka

Do you notice that the price of diesel and petrol in Karnataka today is different from the price it was yesterday? Many people would argue that the central government ought to reduce fuel prices and provide relief to people. But the government doesn't decide the rates directly. If you wish to know the diesel and petrol price today in Karnataka, the easiest way to find out is to download and install the Park+ app on your mobile. You can enter the city you live in, and the diesel petrol price in that city will be displayed. Furthermore, you will get information about the difference from the previous day.

The diesel and petrol price in Karnataka today is determined by various factors

• Crude oil rates

  • This is the most important factor determining petrol petrol price in Karnataka today. India depends on exports to fulfil 80% of its energy requirements. Oil-producing nations can raise the production of crude, which in turn reduces the rate, and vice-versa. Besides this, regional political stability, war, and disruption in the supply chain play a major role in their decision to increase or decrease production.

• Strength of Indian rupee

  • This is the second most important factor in determining petrol and diesel price in Karnataka today. Oil Marketing Companies(OMC) in India have to purchase crude oil in dollars, but they sell it in rupees. High crude oil rates, combined with a weak rupee against the dollar, will impact diesel petrol price in Karnataka today.

• Tax

  • The central government levies a flat rate called excise duty on each liter of diesel and petrol. Each state government, in turn, adds tax as a per cent of each liter.

• Inventory

  • Usually, OMCs maintain an inventory of up to 6 weeks. This helps them control prices whenever there is a large fluctuation in international rates.

• Distance

  • When fuel is transported to cities and towns further from the depot, the rates tend to be higher. In June 2017, the central government decided to adopt the dynamic pricing mechanism for fuel. This meant daily fluctuations in international crude oil rates would reflect at the petrol pump. This revision will be visible from 6 am every day in petrol stations across the country. Nowadays, it is very important to plan your travel and daily commute and allocate a budget accordingly. It is helpful to be aware of changes in fuel rates, and you could fill up your vehicle's tank on a day when the rates have fallen. The Park+ app will inform you in real-time and help you plan your travel.