Petrol And Diesel Price : Diesel Rates In India Are Revised On A Daily Basis. Diesel Prices Are Revised At 06:00 A.M. Every Day. This Makes Sure That Even A Minute’s Variation In Global Oil Prices Can Be Transmitted To Fuel Users And Dealers. Price Of Fuel Includes Excise Duty, Value Added Tax (VAT), And Dealer Commission. VAT Varies From State To State.
After Adding Excise Duty, Dealer Commission And VAT, The Retail Selling Price Of The Petrol Gets Nearly Doubled. Various Factors Impact The Price Of Fuel. These Include Rupee To US Dollar Exchange Rate, Cost Of Crude Oil, Global Cues, Demand For Fuel, And So On. When International Crude Oil Prices Gain, Prices In India Move Higher.
Petrol And Diesel Price In India Today
The price paid by consumers largely reflects national pricing policy. Some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabiaand Venezuela, subsidize the cost. Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011.
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