As crude oil prices have been showing changing trends regularly, it is being noticed that Petrol Price in Patna has been changing a lot. As petrol & diesel prices fluctuate daily it is a sensible sense to check today’s petrol price in Patna to save some money on the next long trip that you take. With the economy drowning, the rupee slipping against the dollar has impacted the prices of petrol in India. It is rumored that the central government may reduce the excise duty & it can make the petro a bit cheaper for the common man.
Patna is Bihar’s capital city and one of the largest cities in the state. With a population of over 2.5 million, the number of vehicles in the city is on a rise. With increasing numbers of two-wheelers and four-wheeler automobiles in the city, the usage of fuel is on a rise always.
Maximum of the fuel stations in Patna are run by State-owned oil marketing companies for example Hindustan Petroleum, Bharat Petroleum, and Indian Oil, etc. The petrol prices in Patna are changed on daily basis. To help to understand what affects this regular change in the price of petrol, below we have listed some insights into the factors leading the change in the petrol price in Patna.
Modification in the price of International Crude Oil: Oil-producing counties from the middle east supply oil to India and the nature of the price of crude oil is dynamic which depends on multiple factors like production cuts, geopolitical reasons, and demand and supply factors, etc. The price we pay while purchasing one liter of petrol in Patna is determined by some of these factors.
Rupees & Dollar Exchange Rate: This is the most probable factor. OMCs acquire crude oil and pay the price in US dollars, when there is any variation in the exchange rate of Indian currency and US dollar, it affects both Patna’s petrol price and other cities across India.
Applicable tax on the commodity: Another important factor that can’t be missed is the taxation leading to the change in the petrol & diesel price in any city. The states will levy Value Added Tax (VAT) on oil that also includes petroleum products.
Dealer’s commission on the fuel: Dealers also add their profit to earn money as they run fuel stations and oil refineries to store and dispense petrol and diesel to customers and to cover up for any unfortunate and unforeseen accidents.
|Dates||Petrol Price||Diesel Price|
|2020-11-28||INR 84.69||INR 77.52|