Petrol & Diesel Price in Sikkim
Check Latest Petrol and Diesel Price in Sikkim below!
Today Petrol Price in Sikkim is INR 101.9 per liter and Diesel Price in Sikkim today stand at INR 89.05 per liter.
Sikkim is a beautiful location at the Indo-Tibetan border. It is known for its beautiful scenery. Petrol price in Sikkim is higher than in other states of India. It is because of its hostile terrain and difficult logistics conditions. Sikkim is one of the most popular tourist spots in eastern India. The price of petrol and diesel in Sikkim gets daily adjustments at 6:00 a.m. It is based on various factors.
You may have to pay extra when refuelling in Sikkim. Besides, a low population density increases the cost of logistics supply from the mainland. Check out this blog to learn more about the latest fuel prices in Sikkim.
Petrol price in Sikkim
Today's Petrol Price in Sikkim is INR 101.9 per liter.
Petrol price in Sikkim is the most expensive after West Bengal in eastern India. The current petrol in price in Sikkim lies between Rs.101.9 to Rs.101.9 per litre. Fuel prices depend on various factors like the cost of crude oil, forex valuation, domestic demand and excise duty.
Petrol rates stay high in Sikkim, despite the fact that the state shares locations recording minimum gasoline consumption of around 0.1%. Given below are the excise duty charged and added taxes that add up to the retail rate you pay.
State excise duty- 25% for others and 20% for retailers per litre of petrol.
Union government excise duty- Rs.19.90.
The dealer commission- around 5%.
Diesel prices in Sikkim
The Diesel Price in Sikkim Stand at INR 89.05 per liter.
Diesel price in Sikkim lies between Rs. 101.9 to Rs. 101.9. Factors like higher logistics costs, the Indo-Tibetan borders, lower consumer demand and variable excise duty increase the diesel price in Sikkim.
Sikkim is among the least fuel-consuming states. The diesel consumption for the financial year of 2021-2022 in Sikkim lies around 0.1% of the national share. The break-up of how the price is calculated is listed below.
State excise duty is 15% for others and 10% for retail consumers.
The union government charges Rs.15.80/l.
Dealer commission- 5%.
What makes fuel prices in Sikkim expensive?
Sikkim is remotely located. So it faces topographical limitations that rank among the major factors for higher fuel rates in the state. Sikkim has a low population density, leading to less demand for fuel consumption. You can check below to know other factors which have a higher impact on petrol prices in Sikkim.
- Inflation in forex
India uses USD when importing crude oil. The USD is the most reliable forex, causing it to fluctuate in the money market. Currently, USD is soaring against the INR, making the GoI pay higher than previous crude imports. It makes you pay more for a litre of fuel in Sikkim.
- Crisis in crude production
The OPEC+ nations decide the daily mining of crude resources. The current economic uncertainty looming in the west has led to lowered crude production. It was doubled by the aftermath of Covid-19 and the onslaught of the Ukrainian crisis. While these nations control crude barrels produced daily, low availability triggers higher consumer demands. As a result, increases fuel prices in the state.
- Lack of uniform excise duty
The GoI is yet to declare petroleum and crude products under the GST scheme. While doing so it vastly reduces the tax margin, bringing excise duty down to 18% (9% each for state and union governments). The lack of uniform excise duty has led to dearer rates that shot the cost by 35% to 45% over the original dealer's rate from OPCs.
How does fuel price inflation affect Sikkim?
Sikkim is a leading state in medicine manufacturing and tourism. The inflation of petrol price in Sikkim affects manufacturing costs. Daily commodities get costly too, which will in turn affect both locals and tourists. Here is more about the side effects of fuel price inflation:
Inflation in consumer goods.
People spend less to curb expenses.
Price surge for daily goods.
The supply and sale of petroleum products get affected.
Conclusion
As you can see, the underlying factors that trigger petrol price in Sikkim are mentioned above. Besides, Sikkim is a mountainous location, which means driving infrastructure such as car garages and parking facilities is yet to be the latest development in Sikkim. Park+ keeps you covered 247 through professional services like a doorstep car wash, cashless parking slot booking, instant FASTag recharge and many more! Download and install Park+ app on your mobile. It is the easiest way to get daily updates on diesel and *petrol price in Sikkim
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