Petrol & Diesel Price in Akola
Akola is a district situated in the middle eastern part of Maharashtra. Akola City, the district's administrative centre, is one of India's largest cities and a well-known hub for education. Petrol price in Akola has been quite volatile recently. The INR has depreciated consistently against the US Dollar and the Oil Marketing Agencies have hiked fuel prices quite a bit. As a result, petrol, diesel and CNG prices are on the rise. This has affected the industries as well as the day-to-day lives of residents of Akola. So, if you are planning to travel to Akola, be sure to be aware of the local fuel prices.
Petrol Price in Akola
There are numerous industries in Akola involved in the manufacturing of food products, beverages, and agricultural products in Akola. Fuel cost is a principal cost for these industries because both raw materials and finished goods require transportation. Changes in the price of petrol impact their production costs greatly.
Petrol prices also affect the life of an average citizen. Increased petrol costs lead to a rise in ticket prices for public transport. For those who use private vehicles, the monthly expenses get higher.
The petrol price in Akola today is Rs. 104.28 per litre. Over the past eight days, the price of petrol has ranged from Rs. 104.05 to Rs. 104.37
Diesel Price in Akola
Today, the diesel price in Akola is Rs. 90.84 per litre. The price has been constant since yesterday.
During the last eight days, the price has fluctuated between Rs. 90.62 and Rs.
Like petrol, diesel is also extracted from crude oil. Hence, diesel prices are also affected by the rising crude oil prices. However, the price of petrol and diesel is not the same. Since diesel has a different production process, there is a gap in the production costs of petrol and diesel.
Reasons for Fluctuations in Fuel Prices in Akola
In India, fuel prices are determined by Oil Marketing Companies (OMCs) such as Bharat Petroleum, and they are revised on a daily basis. The prices are determined after considering crude oil prices, transport costs, taxes on fuel prices etc. Fuel prices will be impacted by even the slightest change in any of these variables.
Since most of the crude oil used in India is imported, fluctuations in the exchange rate of the rupee to the US dollar also have an impact on fuel costs. In recent times, the value of the rupee has rapidly depreciated against the dollar. Consequently, the cost of fuel has been rising rapidly nationwide.
In addition to these, there are other factors that affect fuel prices, such as dealer fees, transportation expenses, market demand, politics, etc.
Petrol prices are subject to the Central Excise Duty as well as the relevant state taxes. Since Akola is situated in Maharashtra, the fuel prices include Value Added Tax (VAT) levied by the state government. These taxes are one of the main reasons for high petrol prices in India. It is a major revenue source for the Government. Dealers have been asking for a uniform tax structure on all fuels for a very long time.
Conclusion
It can seem difficult to keep up with these constantly changing prices. However, the Park+ app makes it simple to monitor petrol, diesel and CNG prices across India. All you need to do is- download the Park+ app on your phone, log in and type the name of any city into the search field. You will instantly get the most recent prices for all fuels in that area on your screen.
Additionally, you can sign up to receive daily notifications on the current prices for CNG, diesel, and petrol in any location of your choice. You can easily keep track of changes in fuel prices and compare the prices in different regions.