Today Petrol Price in Maharashtra is INR 106.91 per liter and Diesel Price in Maharashtra today stand at INR 93.52 per liter.
Maharashtra imposes the highest value-added tax among the Indian states, which is largely why its fuel prices are the highest. The petrol and diesel prices in Maharashtra are continuously increasing these days. In Maharashtra, fuel costs have been soaring for the past few years due to the decline in the value of the Indian rupee compared to the US dollar and the rise in crude oil prices.
In response, the price of petrol and diesel has increased in many Maharashtra cities, including Nandurbar, Aurangabad, Jalna, Jalgaon, Hingoli, Gondia, Beed, and Ratnagiri. These cities must deal with more expensive transportation along with the additional VAT. Petrol is the most expensive fuel in Parbhani, one of the cities in Maharashtra. Read on to learn about the necessary information regarding the petrol and diesel prices in Maharashtra. You can also keep track of the petrol price in Maharashtra before planning any big vacations.
Today's Petrol Price in Maharashtra is INR 106.91 per liter.
Multiple factors are responsible for the daily rise in the price of petrol in Maharashtra. The biggest factor driving up petrol prices in Maharashtra is the rise in the dollar value. In addition, there is a high demand for petrol due to the expanding population and rising car usage. To meet its demand, India is overly reliant on the import of crude oil from other nations. Since India buys crude oil from many nations, global trends, diplomatic ties with these nations, etc., affect imports. The petrol price in Maharashtra has been fluctuating between INR 106.02 and INR 108.5.
The Diesel Price in Maharashtra Stand at INR 93.52 per liter.
The diesel price in Maharashtra has been rising at the same pace as petrol prices. Diesel prices have increased due to rising crude oil prices brought on by several causes.
The federal government and several states have decreased the excise duty and the value-added tax in response to the recent surge in diesel prices in Maharashtra. Thus, to be aware of any latest updates, you must carefully monitor Maharashtra’s diesel rates. From the last quarter of 2022, the diesel price in Maharashtra has been retailing above INR 90.
Retail petrol and diesel prices in Maharashtra are updated daily under “dynamic fuel pricing.” There is an increase in the cost of crude oil and refined products compared to previous years. These two elements are the main causes of the rise in petrol prices in India. In addition to these two elements, seasonal demand, a rise in oil consumption, and a few other factors also played a role in Maharashtra’s increase in petrol prices.
The petrol price in Maharashtra changes daily, and it is changed daily at 6 a.m. Hence, you should look at the petrol price in Maharashtra before leaving home. This helps you avoid an unwanted rise in their limited budget.
The factors determining the current petrol price in Maharashtra are as follows:
Crude oil prices: Crude oil prices are influenced by several factors, including oil supply and demand, oil resources and their availability, and worldwide political ties. Fluctuations in crude oil prices directly affect the petrol price in Maharashtra.
Costs paid to dealers: The owners of petrol pumps receive commissions from oil marketing corporations. This also affects the petrol rates in Maharashtra.
Excise and sales taxes: After taking dealer commission, excise duty, etc., into account, the state government assesses sales tax and VAT on petrol. Additionally, the central government charges a preset excise duty regardless of changes in fuel costs. These taxes add up to the petrol prices in Maharashtra.
Rupee valuation against the US dollar: US dollars are used to buy crude oil on the world market. Petrol prices are impacted by any changes in the dollar’s exchange rate with the Indian rupee. As a result, petrol prices in Itanagar experience more fluctuations.
The government of Maharashtra taxes petrol in Mumbai and other cities.
Additionally, the Central Government levies an excise fee on petrol prices. The cost of crude oil, dealer commissions, and other factors are also considered when determining the price of petrol.
The Goods and Services Tax (GST) was enacted as an all-encompassing tax in July 2017. However, petrol and fuel-related products are not covered by the GST but are instead subject to excise tax and VAT. Also, keep in mind that the changes in excise duty and VAT cause the price of petrol in Maharashtra to fluctuate. So, to avoid discomfort, keep an eye out for the most recent changes.
We have covered all the pertinent details on Maharashtra’s petrol prices and government taxes imposed on petrol and diesel. It is important to remember that the price of petrol varies periodically in India. Governments change their fuel taxation policies to maintain income and reduce consumer strain.
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The prices of petrol and diesel in Maharashtra are influenced by four major components, including the price of crude oil, excise duty and VAT, distribution and marketing costs, and the rupee’s value against the US dollar.
Maharashtra has the highest petrol and diesel costs in India due to the state’s high value-added tax.
No, as petrol is exempt from the GST scheme, it is not subject to the tax. GST is not included in the price of petrol in Maharashtra.