Petrol and Diesel Price in Hazaribagh
The cost of petrol and diesel continues to rise in Hazaribagh. This has become a cause for concern for both the local people as well as travelers. The fuel prices in the city are determined by the government-controlled company called - Indian Oil Corporation (IOCL). The company considers factors like global oil rates, currency exchange rates, local taxes, and other costs before announcing the final price.
Thus, it is crucial to know about the current petrol and diesel prices in Hazaribagh. By knowing how much it costs to fill up your vehicle, you can better manage your budget and plan your trips accordingly.
Petrol price in Hazaribagh
The petrol price in Hazaribagh today is Rs. 98.46 per litre. In recent times, Jharkhand has seen a decline and fluctuations in petrol prices. The rates are inclusive of Jharkhand state taxes, which make them relatively high compared to other parts of the country.
Diesel Price in Hazaribagh
The diesel prices in Hazaribagh today is Rs. 93.21 per litre. The current diesel prices in Hazaribagh are estimated to remain steady as there have been no major fluctuations. It is important to note that diesel prices can be impacted by external factors and may change overnight. This makes it useful for residents to be aware of the rate at any given moment and adjust their consumption patterns accordingly.
Factors affecting the petrol and diesel prices in Hazaribagh
The dynamic international crude oil prices: With the global oil market remaining volatile, it is no surprise that diesel rates in Hazaribagh have been affected by fluctuations in crude prices. Since the current rate of petrol and diesel has been aligned with the dynamic market values, we have seen an increase in its price with an uptick in global crude pricing.
Tax bifurcations: Tax bifurcations of fuel prices are a growing concern for governments around the world due to their effect on the cost and stability of these important resources. Governments rely on a strategic balance between taxes, subsidies, and other adjustments to ensure access to fuel sources while not placing an excessive burden on their citizens.
Freight Charges: The charges for transporting petroleum products from refineries to the nearest hub or transport centre are also added to the final petrol prices.
Distribution and marketing costs: Once refined, gasoline must be transported to gas stations for sale. The cost of this transportation can add to the price of gas. Gas station owners must also cover the cost of marketing and advertising their products.
Government taxes: The rate of taxation on petrol differs from country to country. In India, for example, excise duty and value-added tax (VAT) account for around 20% of the retail price of petrol. In contrast, fuel taxes make up less than 10% of the retail price in India.
Refinery Charges: 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
Conclusion
Staying on top of the changing price of petrol, diesel and CNG in Hazaribagh is now easier than ever with the help of Park+ app. All you need to do is download the Park+ app and log into it to get up-to-date notifications on daily CNG rates and fuel price changes across India.
Easily keep track of daily fluctuations in fuel pricing and compare prices across different regions. To ensure that you never miss out on important updates download the Park+app today!