Petrol and Diesel Price in Bokaro
The petrol price in Bokaro (Jharkhand) is a matter of concern to the citizens of the place. The prices are on a constant rise and keeping track of it has become a challenge. Other fuels like LPG, kerosene, and CNG have also seen a steady rise in their prices.
The petrol and diesel prices in Bokaro are determined by the company called Indian Oil Corporation (IOCL). The company carefully analyses factors like considers global oil rates, currency exchange rates, government taxes taxes, and other costs. After that , it announces the final price for the day. Further, petrol and diesel prices also depend on the dynamic market conditions. Steps have been taken to reduce these increasing prices. The government of Bokaro has implemented the fuel subsidy scheme where subsidies are provided to people purchasing fuel from government outlets.
Petrol Price in Bokaro
Petrol price in Bokaro today is around Rs.98.17 a litre. The petrol price in Bokaro has seen a lot of fluctuation in the recent few days and is in the range of
Diesel Prices in Bokaro
The diesel price in Bokaro today is around Rs. 92.92 a litre. There have been fluctuations in the diesel price in recent days, the price range being Rs 92.84 to Rs92.94. The diesel price in Bokaro also includes the state taxes of Jharkhand state taxes.
CNG Prices in Bokaro
CNG prices in Bokaro are rising slowly and steadily over the years. The reason behind this rise is the cost of natural gas going up. Also, the city heavily relies on natural gas for various energy requirements. The CNG price in Bokaro is quite high in contrast to the national average. Currently, the CNG price in Bokaro is Rs. 94/kg.
The CNG prices in Bokaro might increase in future as well. To minimise the burden of these increasing prices, the government has taken many initiatives like offering subsidies to CNG consumers, by way of discounts. Plans have been made by the state government to set up a network of CNG filling stations across the city. Even a few private firms have begun offering discounts to those purchasing CNG. This will not just reduce the cost of transportation but also the dependence on fuel like diesel and petrol.
The government is encouraging people to switch to CNG vehicles. A lot of initiatives have been taken to promote the use of CNG in the city, as the increasing CNG prices are affecting the local economy.
Factors impacting Fuel Prices in Bokaro
Irrespective of the efforts put in by the Government, fuel prices in Bokaro continue to see a spike due to various factors listed below:
High cost of crude oil in global markets: Most of the crude oil in India is imported from OPEC countries. When there is uncertainty in any of these countries, a shortage in the supply of crude oil happens. Once this happens, the price of crude oil increases in the international market. The price increase will affect the price of petrol as well.
Refining costs: Crude oil needs to be refined and turned into petrol and diesel. This refining process is conducted by various oil refineries situated across the country. Since these refineries employ a large number of equipment, technology, and people they spend significant money on the entire process too. Thus, the refinery charges are also added to the final sales prices.
Transportation charges: The charges for transporting petroleum products from refineries to the nearest hub or transport centre are also added to the final petrol prices.
Currency exchange rates: The Indian rupee isn’t a very strong currency which it gets affected by fluctuations in exchange rates.
Taxation policies: The government’s tax policies also impact the fuel prices in Bokaro. When the fuel tax is increased, the fuel prices increase, and vice versa.
In addition to the above factors, geopolitical tensions and events, like wars or even natural disasters, can create a volatile oil market.
The citizens of Bokaro must take steps to reduce their fuel consumption, as this will help minimise their expenses. People must also opt for CNG-fuelled automobiles more than their counterparts.
Conclusion
Keeping a check on all that your car needs, the fuel prices, and comparing prices between cities can be a tough task. However, Park+ is an application that gives you all the information you need on fuel prices across the state and country. You can check the prices on the go and stay updated by way of reminders or notifications. The information is also easily accessible on the Park+ website as well.