Petrol and Diesel Price in Ratnagiri

The heavy rise in Petrol price in Ratnagiri continues to be a cause of worry for a major portion of the Indian population. When there is a hike in the price of diesel and petrol almost every section of society feels the effect. High prices of fuel are disrupting the budget of the vehicle owner. It is more or less the same for every four-wheeler and two-wheeler owner.

The automotive industry is among the worst-hit sectors in India. The increasing Petrol price in Ratnagiri impacts people in many ways. The initial impact of this price rise is felt by transport operators. People that use their two-wheelers are cars for daily commutes are also facing the heat. As a consequence, they are forced to cut down on other expenses.

Petrol price in Ratnagiri

With the recent revisions and the price of petrol and diesel, the rates have become highly volatile. The extremely high price is having several impacts on the life of an average Indian. As crude oil prices increase the domestic market is becoming more sensitive. The Petrol price in Ratnagiri is ₹105.57 for every liter. The petrol price decreased by ₹0.22 in the price of petrol over the last week. The variation is mostly because of the fluctuating price of Brent crude in the global market.

Diesel price in Ratnagiri

The current Diesel price in Ratnagiri is ₹92.07 per liter. The price has decreased by ₹0.22 in the last 10 days. In Ratnagiri price of diesel usually fluctuate between ₹91.96 and ₹92.29. The end consumer should always keep in mind that the retail prices are inclusive of state taxes.

Even people using public transport have to pay more ticket prices. This is because vehicle operators are trying hard to compensate for the loss. As a result, the expense of going from one place to another is rising in Ratnagiri. For all kinds of goods and services, the expenses are eventually passed on to the buyers. In every Indian family, the monthly budget will grow. The poor and middle class are having a difficult time trying to rearrange their earnings. To keep inflation under check the government should lower excise taxes.

Search for cheap fuel across the country

People in India have now started to travel across borders just to get fuel at a cheaper price. The retail price of diesel and petrol also includes state taxes and other dividends. As a result, the prices vary from state to state. Reports suggest that people are also trying to smuggle fuel at cheap prices from neighbouring countries.

The significant difference in retail prices across states

There is a big difference in the price of diesel and petrol across the states of the country. States like Maharashtra and Kerala are known for charging the highest tax on the retail price of oil. Many people wonder what the reason behind such differences in the price of fuel is. To understand the reason one first needs to understand the price structure of fuel in the country.

It primarily comprises four components namely base price, dealer compensation, excise duty, and value-added tax. The dealer profit and best price usually remain the same throughout the country. It is the taxes charged by the states that create significant variations in the price. The fuel tax in India is further divided into Central and state taxes. Buyers must not geopolitical situations also contribute to the rising rise of fuel. State-wise tax on petrol and diesel comprises a significant part of the retail price.

Taxes charged by central and state government

The state and Central Governments imposed taxes on the retail sale of diesel and petrol. It is surprising to note that these taxes constitute over 55% of the retail price. However, the taxes vary from state to state. Value-added tax is another major contributor to the petrol price hike.

Every citizen must understand the tax structure imposed by the government on diesel and petrol. It is important to note that these taxes eat on changing from time to time. The government revised the tax rate and structure to maintain revenue. It also helps to remove unwanted pressure on the consumer.

Conclusion

Vehicle owner details to be able to plan long trips within a set budget. The Park+ app and Park+ website serve as the most convenient way of checking fuel prices. Users also get to compare historical price trends over the last 10 days.