Petrol Price in Trivandrum
As prices of crude oil have been indicating a firm trend, Petrol price in Trivandrum have been fluctuating a lot these days. Petrol and diesel prices are revised on a daily basis and it is a good idea to check today’s petrol price in Trivandrum especially if you are planning or heading for a long drive. The value of dollar has increased when comparing it to Indian rupee, which has impacted petrol prices in Trivandrum and made petrol even more expensive than before. There is some news making the rounds that the government will take some initiatives to reduce excise duty that will reduce the petrol in coming few days.
The capital city of Kerala, Trivandrum metropolitan city is nation’s main hub for IT sector. There are a several temples and educational institutes in the city and in the last few years the city has grown immensely. With the rising population Trivandrum’s number of automobiles both two-wheeler and four-wheelers has also gone up which very well indicates the huge usage of fuel in the city.
Most of the fuel stations in Trivandrum are operated by State-owned oil marketing companies such as Bharat Petroleum, Indian Oil, and Hindustan Petroleum. The petrol price in Trivandrum is changed on a regular basis and it’s important to understand how the price of petrol is calculated. Below we have mentioned some insights into the various factors that lead to change in petrol price in Trivandrum.
Modification in the price of International Crude Oil: As you are aware of the fact that India buys crude oil from countries where oil is produced and the nature of crude oil costs are dynamic which varies depending on many factors such as increased demand, supply shortages, production cuts or geopolitical factors. The price we pay to purchase one liter of petrol in Trivandrum is determined by some of these factors. Any adjustment in the exchange rate of Indian currency and US dollar, affects both the Trivandrum’s petrol price and other cities across India.
Rupees and Dollar Exchange Rate: OMCs acquire crude oil by paying the price in US dollars, any fluctuations in the value of the dollar leads to the change of the price of the petrol. If the value of dollar increases than it will also lead to the increase the petrol price in Trivandrum as well as in other cities in India.
Applicable tax: Another important factor that influences the price of petrol in any region is the taxation. The states levy Value Added Tax (VAT) on fuel that also includes petroleum products. Any change in taxes leads to the change in the price of fuel in the state.
Dealer’s commission: Fuel stations or oil refineries are run to store and dispense petrol and diesel to customers for which the suppliers make a profit.