Petrol & Diesel Prices in Tripura

Today Petrol Price in Tripura is INR 97.23 per liter and Diesel Price in Tripura today stand at INR 86.27 per liter.

Tripura is a unique jewel of the seven sister states in Northeast India. It's one of the lowest fuel-consuming states in India. This plays a crucial role in maintaining fuel prices less than the national average. Petrol prices in Tripura fluctuate and get revised daily at 6.00 a.m.

Petrol prices in Tripura lie around INR 100, while state diesel rates mostly stay less than INR 90 per litre.

Petrol price in Tripura

Today's Petrol Price in Tripura is INR 97.23 per liter.

Retail petrol consumption in Tripura accounts for 0.2% of the national sale of petrol through retail outlets(FY 2021-22). Tripura has been divided into eight districts. The petrol prices here are between INR 96.03 to INR 98.66. However, the rates may fluctuate for reasons like availability and the price of crude oil in the global market.

Petrol prices in Tripura are average compared to her six sister states. It is because Tripura has the least number of vehicles available per capita. However, excise duty rates decide the retail price index and help you understand how much you pay above the original dealer price.

• State excise duty includes 4% + 19.5% cess on turnover (taxable value + VAT) per litre of petrol

• INR 19.90 per litre of petrol (central excise duty)

• Dealer commission (around 5%)

Diesel prices in Tripura

The Diesel Price in Tripura Stand at INR 86.27 per liter.

Diesel prices in Tripura are the cheapest in the NE states. You can buy a litre of diesel at a retail price ranging between INR 96.03 to INR 98.66. Tripura consumes more diesel than petrol, provisionally amounting to 95 TMT. However, it comprises only 0.1% of the national retail sale of diesel (FY 2021-22).

While Tripura has a lower diesel price than average, the rates fluctuate daily from potential factors like excise duty, crude availability, and forex valuation. Check out how much tax you are paying for a litre of diesel in Tripura:

• State excise duty is 10% + 3% road development cess on turnover taxable value + VAT)

• Central excise duty is INR 15.80

• Dealer's commission (around 5%)

What factors cause motor fuel prices in Tripura to fluctuate?

Now, you can see the potential factors that trigger diesel and petrol prices in Tripura. India imports nearly 85% of its crude oil from foreign countries. Other than that the role of forex, global market rates and abundance of availability become a critical margin for prices in retail fuel pumps. Here's more about the potential factors influencing fuel prices in Tripura:

• Expensive import surcharge

Currently, maximum Indian crude oils get imported from Russia, the Kingdom of Saudi Arabia and Iraq. These countries often find comfort in trading using local currencies. But the same does not apply to the United States of America, which supplies crude oil to India in exchange for the USD. As $ dominates the forex market, any slight fluctuation adds exponentially to the import order.

• Global market availability

OPEC+ nations control overall crude extraction. Currently, the crude markets are tight as productions are yet to restore like the pre-COVID-19 exchanges.

• Absence of uniform excise duty

Petroleum products don't come under GST, leading to separate excise duty scales across India. While the union government charges a uniform VAT, the state governments charge conveniently, as fuel is a vital commodity for excise collection.

How do excessive petrol prices in Tripura affect well-being?

Tripura shares an international boundary with Bangladesh. A sudden increase in diesel

and petrol prices in Tripura affect the volume of cross-border trade, besides the daily lives of local folks. It can lead to the following instances:

• Reduction in retail fuel sales

• A slight dip in commercial logistics and transport frequency

• Inflation in consumer price index (%CPI)

• Potential fluctuation in INR/BDT rates, affecting the steady flow of commerce and tourism

Conclusion

Petrol prices in Tripura play a crucial role in supporting international border trade. If you own a vehicle, it prevents you from spending extra on motor fuel. Would you prefer a smartphone app to take care of your car issues? If yes, Park+ offers comprehensive services, like helping you locate the nearest parking space, booking a parking spot online, and keeping you updated with synchronised vehicle alerts.