Belgaum is a city and the district headquarters of Belagaavi district in Karnataka. It is considered the second capital of the state with legislature sessions held here regularly. The city is part of the border dispute between Karnataka and its neighbouring state Maharashtra. The city has many businesses and industries, including mining industries. The people of Belgaum and the businesses here use petrol for all their operations. Hence, they regularly monitor the petrol price in Belgaum. Regular monitoring allows them to find out when prices are lower, so they can take advantage of the lower prices.

Petrol price in Belgaum

The petrol price in Belgaum is decided mainly based on the base price fixed by the oil companies. They fix this base price keeping in mind many factors, with the price of crude oil being the major factor. Taxes contribute to nearly half of the retail price of petrol. The central government’s excise duty and sales tax/VAT levied by the state government are included in the taxes. When the dealer commission is included, it gives the final price of petrol. The petrol price in Belgaum today is 102.68 per litre. This is one of the places where petrol price has crossed the 100 mark.

Diesel price in Belgaum

One of the industries in Belgaum is the mining sector. They would extensively use diesel for their operations. Since Belgaum is a major hub, there are vehicles that transport goods from here to other places. A majority of transport vehicles use diesel as fuel. With so much diesel being used, it is no wonder that the people of the state are concerned about diesel prices. The diesel price in Belgaum today is 88.81 per litre.

The fuel price fluctuations in Belgaum

It is a known fact that taxes are the major component of fuel prices. For both petrol and diesel, tax forms nearly half of the retail price. The actual price is only half of what people pay. This is a major concern and many people are upset over this fact. It is important to understand why tax rates are so high. There are two taxes here. One is the tax charged by the Govt. of India. This is the central excise levy. The other is sales tax or VAT charged by the state governments. Each state charges a different tax, which is petrol prices vary from one place to another.

The reason why taxes are high is that it offers huge revenue to the government. More than 6 lakh crores of rupees are collected by the government as taxes. This is a major source of revenue. Many development projects and welfare works are executed by the government using this money. Fuel tax is very important and if this tax were reduced then the government would lose this revenue. This explains why the government is not willing to reduce tax prices or introduce GST which could reduce taxes.

Whenever tax prices are too high, it can be a serious burden for people. It can lead to inflation which has a negative impact on the economy. In such a situation, the government would reduce taxes to offer relief to people. Apart from tax price, the cost of crude oil in the international market also affects fuel prices leading to fluctuations. These fluctuations are why people like to monitor the prices of fuel regularly.

Conclusion

When you want to regularly track the price of petrol and diesel, the best way to do this is by using a mobile app. One of the most popular mobile apps to track fuel prices is the Park+ app. The app is not only about fuel prices but has many options ranging from purchasing FASTag to getting your vehicle insured. The home screen of this app displays the latest price of petrol and diesel in your location. You can use the search bar to type the name of any city to get its fuel price. If you enable notifications, then you can get a notification whenever the price of petrol and diesel is changed.