Petrol and Diesel Price in Jabalpur

Transport plays a key role in the city of Jabalpur as it is a highly industrial city filled with markets and tourists. So, the petrol price in Jabalpur has a big influence on the city's overall economy.

Just like other Indian cities and districts, the petrol and diesel prices in Jabalpur are decided by the the public sector company called - Indian Oil Corporation (IOCL). It is a government-controlled company that considers factors like global oil rates, currency exchange rates, local taxes, and other costs before announcing the final price.

Here are the current petrol and diesel prices in Jabalpur and the factors affecting them.

Petrol price in Jabalpur

Today, the price of petrol in the judicial capital of Madhya Pradesh stands at INR 106.5 per litre. The price of petrol here has been seeing some ups and downs in the last ten days.

The people here are highly concerned about the rising cost of petrol. The state government here collects heavy taxes on the sale of petrol, which is contributing to the rising petrol price in Jabalpur.

Diesel price in Jabalpur

Today, the price of diesel in the city of Jabalpur stands at INR 91.9 per litre.

Diesel is always in high demand here because of its heavy consumption by industries and motor-vehicle owners. As diesel is extracted from crude oil and as our country purchases crude oil from other countries. So, the diesel price in Jabalpur is mainly influenced by overseas factors as opposed to internal factors.

Factors affecting fuel prices in Jabalpur

Many domestic and international factors affect the price of petrol & diesel. Some of the domestic factors are - central and state government taxes, cost of logistics, margins given by oil firms, the commission of the dealer, etc. On the other hand, the international factors include - the cost of Indian crude oil, the rupee to the dollar exchange rate, etc. In the case of petrol, domestic factors do not affect its price on a day-to-day basis.

• Over 70% of India's crude oil requirements are imported from other countries. Additionally, the dynamic fuel pricing system ensures that the domestic fuel prices align themselves with the international market price daily.

• The exchange rate of INR and Dollar - The common oil trading currency is not INR but USD. The USD has a stronghold over other currencies. The US is the largest economy and whenever the dollar strengthens, petrol & diesel price increases and vice versa. In this way, the currency exchange rate plays a major role in fuel price computation.

• Government taxes - The central government levies taxes on every state equally in the form of excise duty. On the other hand, each state levies a different VAT (Value Added Tax) figure on petrol & diesel. The VAT figures are decided by the state government. In Madhya Pradesh, the VAT percentage is currently at 36.22% per litre of petrol sold in the state.

• Profit margin and dealer's commission - The profit margins of Indian oil giants account for the cost of refining the fuel, transporting it, and marketing it effectively. Although, this does not change the price of petrol or diesel overnight. These companies buy crude oil from overseas and extract petrol from it. Lastly, the fuel dealer adds a markup cost as he purchases the fuel from corporations and brings it to the filling stations. They account for transportation costs, station maintenance costs, etc.

Conclusion

You can easily keep track of the ever-changing petrol, diesel, and CNG prices across different cities by using the Park+ app. If you want to know the petrol price in Jabalpur - log into the app, go to the search bar, and type - Jabalpur.

The app can notify you daily regarding diesel rates, CNG rates, changes in fuel prices, fluctuations across multiple cities, etc. So, download the Park+ app today to never miss an update about fuel price changes in your city!