Petrol and Diesel Pric ein Godda
Located in the northeastern region of Jharkhand, the district of Godda is famous for its small forests and hills. It also houses the Rajmahal coalfield, a producer of power-grade coal. Along with this, tourism is also increasing in the region. The increasing industrial and business activities have raised the demand for petrol and diesel in Godda.
The price of petrol, diesel, and other types of fuel in Godda is determined by the Indian Oil Corporation (IOCL). It is a public sector company that considers global oil rates, currency exchange rates, local taxes, etc before deciding and announcing the final retail price for the day.
The petrol price in Godda are experiencing slight fluctuations recently. Read on for more information.
Petrol Price in Godda
The petrol price in Godda today is INR undefined per litre. In the past few days, the rate of petrol has been fluctuating by a small margin.
Currently, the central excise duty on petrol is around Rs. 19.48 per litre, while the VAT ranged from Rs. 12-25 per litre, depending on the State.
Diesel Price in Godda
The diesel price in Godda today is INR undefined per litre. In the past few days, the price of diesel has been changing by a small margin.
Apart from petrol, diesel is the second-most demanded fuel in the region. From industries to individuals, many people are dependent on diesel for their day-to-day commuting activities. The central government's excise duty makes up 17.6% of the retail price of diesel. On the other hand, the percentage of VAT levied on diesel varies from State to State.
Factors Which Affect the Price of Fuel in Godda
The main factors which affect the price of fossil fuels in India are as follows:
Global crude oil prices: Crude oil is an unrefined oil, sold in the international market. Any change in the price of this commodity has a direct impact on the fuel price in India. Global political relations and future supply/reserves affect the price of crude oil. Even bad weather or natural calamities can fluctuate international crude oil rates.
VAT (Value Added Tax): State governments in India levy VAT on all products sold within their jurisdiction. VAT is charged on all phases of production which add value to the final product. Different states levy different VAT rates.
Excise Duty: This is a tax levied by the Central government. Excise duty is in all products made and sold in the country. Unlike VAT, excise duty is uniform across all states.
Fuel Demand: If the demand for fuel exceeds the supply, the price of fuel will rise and vice-versa.
Exchange rate: Crude oil is traded in USD. If the value of the Indian Rupee falls in comparison to the dollar, the fuel rates will increase in India.
Dealer commission: Every dealer charges a commission to bring the fuel to the station from the supply unit. The commission varies between dealers and the distance they have to commute.
Park+ - An Easy Way to Check Fuel Prices
Download the Park+ app to know the latest fuel prices in your area. Whether you live in Godda or any other city, Park+ will bring you updated fuel rates from trustable sources. In addition to this, the app comes with many interesting features. Need to check the status of your eChallan online? Want to find a designated parking spot for your car? Park+ will help you.