Petrol and Diesel Price in Buxar

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.

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.