Petrol Price in Uttarakhand

Petrol Price in Uttarakhand Oct 07 2024

The Petrol Price in Uttarakhand is ... today.

• The petrol price in Uttarakhand started at Rs. 82.91 per litre on 1st December
• In the last week of December, the prices closed at Rs. 84.20 per litre, which is also the highest rate of petrol.
• The trend of change is rising.
• The overall price change reads at +1.53%

The trend of Petrol Price in Uttarakhand for November 2020 (rates per litre):

• The petrol price in Uttarakhand started at Rs. 81.87 per litre on 1st November
• In the last week of November, the prices closed at Rs. 83.15 per litre, which is also the highest rate of petrol.
• The trend of change is rising.
• The overall price change reads at +1.41%

The trend of Petrol Price in Uttarakhand for October 2020 (rates per litre):

Monthly Petrol Price Trend in Uttarakhand for October 2020:

• The petrol price in Uttarakhand started at Rs. 82.05 per litre on 1st October
• In the last week of October, the prices closed at Rs. 81.87 per litre, which is the lowest price.
• The trend of change is falling.
• The overall price change reads at -0.22%.

The trend of Petrol Price in Uttarakhand for September 2020 (rates per litre):

Monthly Petrol Price Trend in Uttarakhand for September 2020:

• The petrol price in Uttarakhand started at Rs. 82.76 per litre on 1st September and continued till 3rd September, which was the highest price.
• In the last week of September, the prices closed at Rs. 82.09 per litre, which was the lowest price that month, recorded on 25th September.
• The trend of price change is declining.
• The percentage change reads at -0.82%.

Petrol Rate in Uttarakhand

Uttarakhand has 13 districts. We are here to offer you some useful insights into the petrol price in Uttarakhand in addition to the latest changes in the fuel pricing sector. Petrol traded at an average rate of Rs. 75.0/litre for the first 2 months of 2019 in Uttarakhand. The central levy of Rs.17.48 per litre and the VAT of Rs. 15.54 per litre are included in the price.

How Frequently is Petrol Price in Uttarakhand Reviewed?

The review is occurring daily by proposing a new fuel-pricing practice called dynamic fuel pricing or daily revision. The central government implemented the new pricing method to make fuel-pricing more honest from the consumers’ viewpoint. The contrast between the former and prevailing pricing systems is the rate of revision.

Petrol Costs in Uttarakhand and the Other States

How are Petrol Prices in Uttarakhand Computed?

Different components of the price breakup of petrol in Uttarakhand include the followings:

• RSP= Price of crude oil (includes freights) + the primary excise + Refinery Transfer Price + OMCs’ profit margin + commission charged by merchants + VAT + pollution cess.
• Over 80% of India’s crude oil is imported from overseas oil-producing countries. Domestic production only serves the remaining 20%. The expense acquired by Indian oil retailing companies to buy crude oil is called COB (including freight charges). Oil marketing corporations also acquire the refinery transfer price (RTP), refineries charging crude oil into petrol.
• Pump owners also charge a particular percentage of profit margin for providing petrol. This may differ within the cities of Uttarakhand. The share imposed by petrol bunks, which are more proximate to supply stations, is smaller than that of petrol pumps far from supply stations. Among all Indian states, the central excise duty imposed on petrol is identical, but VAT changes from one state to another. 

Factors Affecting Petrol Prices in Uttarakhand

• Freight: The price paid to a transporter for the imported crude oil is called ocean freight. When ocean freight is added to the FOB price, we get cost and freight price.
• Free On Board Price (FOB): The price paid by Indian oil marketing companies to import crude oil from overseas corporations.
• Import Charges: Import charges comprise of 3 charges: (i) insurance charges, (ii) port dues, and (iii) ocean losses. The insurance service provider (ISP) premium for the insurance cover is called insurance charges. Port dues are the charges paid for using the facilities of a port.
• Depot Price: The price paid by retail petrol owners to buy/import petrol from oil marketing companies.
• Refinery Transfer Price: It price is the price repaid by oil marketing companies to refineries for buying petrol.
• Customs Duty: It is a tax imposed by the government on imported crude oil. As of February 2021, it is charged 2.5% of the cost and freight price.
• Excise Duty: The tax that the central government imposes on petrol. It remains identical throughout the country.
• Inland Freight: It is the price paid by oil marketing companies for transporting petrol from refineries to retail markets.

Impact of GST on Petrol Rates in Uttarakhand

The GST regime taxes all kinds of goods and services under 4 tax slabs, which are

• 5%,
• 12%,
• 18%, and
• 28%.

The lowest rate fixed by the GST Council to date is 5%, and the highest rate is 28%. 5 petroleum products, including petrol, have been kept outside the regime of GST. Even though petrol is taxed at the highest rate, the state and central governments’ revenue will be significantly affected. Hence, the GST structure does not impact petrol prices in Uttarakhand.

Diesel Costs vs Petrol Costs in Uttarakhand

As of 1 March 2021, the mean petrol price was Rs. 91.76, whereas diesel’s mean rate was Rs. 82.24. Petrol rates in the state are expected to rise over the next few months marginally.

If you have any queries regarding the fuel prices in any of India’s states or union territories, please visit Dialabank.

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