In Jamnagar, there are many businesses and industries. All of them use diesel extensively for many purposes. Any variations in the price of diesel would affect businesses. Higher prices will affect their profitability, which is why all businesses are concerned about diesel prices. Even common people use diesel since many people use diesel vehicles for personal use. The diesel price in Jamnagar today is 89.72 per litre. There have been minor fluctuations in diesel price for the past couple of days. Interestingly, the difference between the price of petrol and diesel in Jamnagar is very less.

Changing fuel prices in Jamnagar

The price of fuel in Jamnagar has been stable. However, price fluctuations do happen and there can be major changes in both directions. These price fluctuations occur mainly due to the variations in crude oil price at an international level. The base price of petrol is the one fixed by oil companies. The price is decided on a daily basis based on crude prices.

There are 3 other components to the fuel price. These components include

• excise duty

• VAT

• dealer commission

The dealer commission is the amount paid to the dealers who run the petrol bunk. This amount is the revenue the petrol bunk owners earn for doing their work. There are two taxes applicable on fuel. One is VAT or Value Added Tax. This is the tax paid to the state government.

Excise duty is the tax payable to the central government. All these put together make up the retail price of petrol or diesel. This is the price that the consumer pays. These could be cess and any other charges that may be levied. A key factor that decides the price of crude oil is the exchange rate of dollar. India pays for petrol and diesel in dollars. If the rupee is weak against the dollar, then the govt. needs to pay more for crude oil.

Price fluctuations do happen and these are a concern. Apart from resulting in consumers having to pay more, it can cause inflation. Increase in fuel prices have a cascading effect. This is why govt. reduces prices as and when needed. Price variation is the reason why people keep a tab on fuel prices. Individuals, as well as business & industry owners monitor the price of fuel. They do it on a daily basis to know when the price is favourable for them.

Conclusion

If you want to track the price of petrol and diesel, then you need to download and install the Park+ app on your mobile phone. The app has vast features useful for vehicle owners. It shows the latest price of petrol and diesel on the home screen. Apart from the price in your location, you can also use the app to search for fuel prices in other cities and towns. Most importantly, you can use the notification feature that will let you know the fuel price as soon as it is changed. This is a very useful feature to track fuel price daily.