Petrol and Diesel Price in Hoshangabad

Hoshangabad's economy is highly dependent on its transportation system and industries. So petrol price in Hoshangabad affects all these aspects of the people’s lives and livelihood. For many reasons, petrol prices have become unstable here which brings uncertainties in the lives of the locals.

Let's have a look at the current petrol and diesel prices in Hoshangabad and the factors affecting them.

Petrol price in Hoshangabad

Crude oil prices are spiking internationally, and the rupee is getting weaker compared to the dollar. As a result, domestic petrol prices are getting higher and higher. Over the last 8 days, we saw some fluctuations in the price of petrol in Hoshangabad, like all other parts of Madhya Pradesh. The petrol price in Hoshangabad today is ₹106.24 per litre.

The frequency and extent of fuel price fluctuation are almost unpredictable. But they have long-lasting effects on people’s lives and the economy. The factors that affect fuel prices can have local origins. But distant events of national and international significance can also have profound effects on fuel prices. Crude oil prices change when their transportation, extraction, import or export is affected.

Diesel price in Hoshangabad

It takes a lot more money to refine petrol properly than it takes to refine diesel. So diesel is usually priced lower than petrol. But this is not the only reason this happens. The tax rates on the import of diesel are lower than that for petrol. So its overall cost remains lower than petrol, whether imported or refined from crude oil. The price of diesel in Hoshangabad today is ₹91.64 per litre.

The amount of crude oil refined in India can depend on the combined activity of all its refineries. If refining is not done at near full capacity then there is an immediate shortage of refined petroleum. Thereafter, petrol and diesel prices increase.

Factors affecting the petrol and diesel prices in Hoshangabad

Multiple internal and external factors affect the prices of petrol and diesel in the city. Here are the major ones:

• International crude oil demand and 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.

• Taxes charged by the central and state governments: Since India imports a large about of crude oil from foreign nations, the central government of India levies heavy excise duty on crude oil. Additionally, every state charges its own VAT tax on petrol and diesel products.

• Freight Charges and dealer's commission: 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.

• 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

Having accurate information about the petrol and diesel prices in Hoshangabad is essential for both the local people and travelers. You can stay up to date on fuel prices with the Park+ App. Download the Park+ App and type in Hoshangabad to follow the daily petrol prices. You can also look at the fluctuations in oil prices and compare different areas in India. The app also allows you to enable notifications for fuel price changes in your city. This ensures that you will never miss an update!