Petrol & Diesel Price in Meghalaya

Today Petrol Price in Meghalaya is INR 95.95 per liter and Diesel Price in Meghalaya today stand at INR 86.93 per liter.

The state of Meghalaya lies in the North-East region of India. The tax imposed by the central and state government makes up to 60% of the price of fuel. The petrol price in Meghalaya is variable and is affected by many factors. Petroleum is often thought only to be a fuel, i.e., petrol or diesel, but there are other uses of petroleum, too, in one form or another, like manufacturing plastics, paints, pharmaceuticals, rubber, dyes, and others.

Petrol and diesel prices in Meghalaya fluctuate daily and affect the prices of essential commodities. It is essential to remain updated with the real-time rates of the fuel to have an organised budget.

Petrol Prices in Meghalaya

Today's Petrol Price in Meghalaya is INR 95.95 per liter.

As stated above, the petrol price in Meghalaya is not fixed but keeps fluctuating. The petrol price affects the daily cost of living of the residents of Meghalaya. The petrol price of Meghalaya also affects the tourism on which Meghalaya thrives. Hence, the effects of petrol prices in Meghalaya can be far-reaching, especially for tourists and locales.

The prices have been in the range of INR 94.43 to INR 96.68.

Diesel Price in Meghalaya

The Diesel Price in Meghalaya Stand at INR 86.93 per liter.

Like petrol prices, Meghalaya's diesel prices are also dynamic and fluctuate daily. The daily fluctuations in diesel prices in Meghalaya directly affect the drivers of heavy goods or passenger motor vehicles. There are several factors in how the diesel price and, for that matter, the petrol price in Meghalaya is determined.

Factors determining the petrol and diesel price in Meghalaya

Several factors play an essential role in determining diesel and petrol prices in Meghalaya.

• If petrol/diesel has to be transported to cities and towns far away from the distribution depot, then petrol/diesel prices tend to be higher as it adds to the transportation cost. The charges for transportation, as well as the operational charges, may differ for different regions of our country. It also depends on the distance to be covered.

• One of the determining factors of petrol and diesel prices in Meghalaya is the current strength of the Indian currency (Indian Rupee). The OMCs, or the Oil Marketing Companies, work as a bridge between the dealers and the exporters. These are the ones who purchase the petroleum, refine it and distribute it to different parts of the nation. These are independent of the government's intervention, even if they are tied to taxes. Before selling, they consider the factors like operational and transportation charges, the margin of the profit and much more.

• India is not an independent nation when it comes to the production of crude oil. Imports fulfil more than 80% of the crude oil requirements in India. Hence, the petrol price imposed in Meghalaya can vary because of the production and demand of crude oil.

• The central government levies the Excise Duty Tax on each litre of diesel or petrol sold. This tax is accompanied by the state government's add-ons per litre. It can differ for different states in the country.

Reasons for rapid change in Petrol/Diesel price in Meghalaya

The diesel and petrol price in Meghalaya is dynamic and keeps changing daily. There are several reasons for the same.

• The Central government adopted a dynamic pricing mechanism in 2017, meaning that daily fluctuations in the international crude oil rates will reflect at the petrol pumps in Meghalaya. The revision of petrol/diesel prices is visible at 6 am daily at every petrol pump across India.

• Dependency on international sources – In India, there is a greater dependency on international market sources since India can only fulfil 1/5th of the demand for fuel through domestic production. Around 80-84% of fuel requirements are met by importing fuel from OMCs. Hence, this means that fuel prices are also dependent on international market rates.

• The Indian National Rupee (INR) keeps fluctuating against the US Dollar (USD).

Conclusion

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