Petrol and Diesel Price in Buxar

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DayChange

Petrol0.02

Diesel0.02

CNG

Today106.5193.29NA
25 Nov106.4993.27NA
24 Nov106.1992.99NA
23 Nov106.793.47NA
22 Nov106.4993.27NA
21 Nov106.7393.49NA
20 Nov106.293NA
19 Nov106.5193.29NA

Note : there may be slight variations in prices across outlets within a city

Both petrol and diesel play important roles in Buxar's economy. From transportation to business operations and manufacturing, petrol, diesel, and CNG are required by most individuals and industries in Buxar.

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Fuel prices change every day according to Dynamic Fuel Pricing and help to bring transparency to fuel retail prices. In Buxar, the petrol and diesel prices are determined by the government-controlled company called Indian Oil Corporation (IOCL). The company considers various factors including the cost of crude oil, local taxes, market dynamics, etc. before determining the final retail price of fuel.

Petrol Price in Buxar

The price of crude oil has been constantly changing and this has also led to the petrol price in Buxar being volatile. The petrol prices in Buxar get revised daily. The petrol price in Buxar today is ₹ 106.51 inclusive of all taxes.

The falling value of the rupee against the dollar and the addition of excise duty on base price shoots up the petrol price of Buxar. The base price of petrol itself is expensive and the cost further increases due to excise duty, VAT, the demand for petrol, dealer commission, etc.

Diesel Price in Buxar

Do you drive a diesel car in Buxar? Then you should be aware of the diesel rate here. Following the dynamic pricing method, the diesel price gets updated every day. The prices get revised at 6 o’clock in the morning. The diesel price in Buxar today is ₹ 93.29 per litre.

The public sector petroleum companies decide the day’s diesel prices. The retail price of diesel in Buxar increases similarly to the petrol price due to multiple reasons like VAT, excise duty, transportation cost, dealer’s commission, etc.

What affects the fuel prices in Buxar?

Dynamic fuel pricing is the most crucial cause of price fluctuations in Buxar. This pricing method depends a lot on the value of the Indian rupee against the US dollar. The international markets also influence the price, especially overseas crude oil prices.

The price of crude oil is one of the major factors affecting petrol and diesel price. It varies based on the politics of the oil manufacturing nations, and demand and supply in the worldwide market.

India has to import almost 75% amount of the total crude oil demand in our nation. Only the remaining 25% of demand can be managed by the oil companies of both the public and private sectors. As our country has to import crude oil, the fuel price depends on the international crude oil rate.

The trading of crude oil is done in dollars. As the value of the rupee is much lower than the dollar, India has to pay a lot more while buying crude oil. Therefore, the petrol and diesel prices everywhere including Buxar gets affected.

Further, 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.

The charges for transporting petroleum products from refineries to the nearest hub or transport centre are also added to the final petrol prices. Further, the dealer also charges a certain amount of money for transporting the finished petroleum product from the refineries to the place of consumption.

Additionally, the taxes of the central government, as well as the state government, also play a critical role in determining the petrol and diesel prices in Buxar. The central government charges excise duty on all petroleum products while the state governments charge their individual VAT taxes.

Conclusion

Whether your vehicle runs on petrol or fuel, it would be smart of you to check today’s fuel price before you get on the road. Knowing the fuel cost will help you calculate how much you would need to spend on diesel for the day. To never miss an update about the daily petrol and diesel price in Buxar, make sure to download the Park+ app. You can also check out the Park+ official website and follow the fuel price indicator for all major cities, including Buxar to stay informed of the changing fuel price. Not You can set a daily reminder for the latest change in diesel prices in Buxar.

FAQs

How is the petrol price in Buxar dependent on the price of crude oil?

The petrol price in Buxar changes whenever the crude oil price fluctuates. When there is a high demand for crude oil, its price rises. The same happens if a shortage arises due to natural causes.

The countries which supply the most crude oil are known as OPEC or the Organisation of petroleum exporting countries. Geopolitical factors influence the policies that Opec forms. When one such factor impacts oil manufacturing countries, a shortage of crude oil arises. This increases the price. Again, when there is a lot of demand for crude oil around the world, the price shoots up.

Crude oil is the main component of petrol and diesel. Therefore, an increase in crude oil prices automatically impacts petrol and diesel price.

When was petrol most expensive in Buxar over the last five years?

The petrol price in Buxar was at an all-time high on 6th April 2022. The price of petrol rose to ₹ 117.71/litre. Not only in the last five years, but this was also the highest price in all of the last ten years!

What are refinery charges that affect fuel prices?

Oil companies send crude oil to oil refineries. These refineries turn the crude oil in its raw form into petrol and diesel after processing it. The oil companies need to pay the processing fee for every litre being processed, which is known as the refinery charge.