Petrol and Diesel Price in Daman
Daman is a small city in the Union Territory of Daman and Diu. It is known for its pristine beaches, historical monuments, temples, churches, and many other tourist sites. Though it is a small city, it has a sizeable population that is dependent on petrol and diesel for their everyday traveling needs. While some locals and tourists use private mini-buses, a lot of them have their own vehicles. Thus, the fluctuations in the petrol and diesel prices in Daman can affect the lives and finances of these people.
Are you looking for accurate fuel prices in Daman? In this article, we will give you the necessary-fuel related information. Read on!
Petrol Price In Daman
The petrol price in Daman today is Rs 92.39 per litre. Thus, we can see that the prices don’t remain static. If you look at the fluctuating figures, you can see that there is no big difference in the price change. The price change is only in few paise.
Another significant city in the Daman and Diu union territory is Diu. When the price of petrol in Daman is compared with Diu, Diu’s prices vary slightly.
Diesel Price In Daman
Diesel-powered vehicles are the second most popular vehicles in Daman, after petrol-powered vehicles. The diesel price in Daman today is around Rs 87.88 per litre. Just like the price of petrol, the diesel price change has taken place in a few paise only.
Factors affecting the price of petrol and diesel in Daman
Now, the question is what components are included that determine the price of petrol and diesel in Daman? There are many components involved that determine the retail price of fuel. In this section, we will have a closer look at each of them. Read on!
The global crude oil prices: The global crude oil price has a direct influence on petrol and diesel prices. Most of the crude oil is supplied by 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.
The exchange rate between the US dollar and the Indian rupee: The crude oil is traded in dollars. If the dollar strengthens or weakens, it impacts the price of crude oil in our country as well.
Excise duty levied by the central government: The central government of India levies a significant amount of excise duty on petrol and diesel in the country. The excise duty same across all the states.
VAT tax: Each state levies a different VAT tax on petrol and diesel. Some levy high VAT tax and some states levy low tax. This is why you see a change in the price of petrol in different cities of the country.
All these and other components determine the diesel price.
How The Increase In Fuel Prices Impact Businesses And Common Citizens
An increase in fuel prices will not only affect the citizens but businesses also. People who own private vehicles should know about the recent fluctuations in fuel prices so that they can plan their budgets accordingly. People who are using public transport like buses have to spend more on tickets. Companies that are involved in the transport and logistics sector will increase their service rates due to the fuel price rise which may put a hole in the pockets of their customers.
When it comes to businesses, the automotive sector companies can see a dip in their sales due to the increase in fuel prices.
To Sum Up
The fuel prices in Daman constantly change. If you want to keep track of the prices of CNG, petrol, and diesel in Daman, you can download the Park+ app. The app provides the latest updates on fuel prices in different cities and also gives a comparison of the fluctuations in fuel prices.