Bhandara goes by many monikers. It is called the “District of Lakes”, because it has many popular lakes. Since it has a large brass industry, Bhandara is also known as the “Brass City”. There are many natural and historic sites to visit in this city.
If you live in this area, or are planning to visit, it would help to know the fuel prices in Bhandara. The petrol price in Bhandara has been stable for the past few days. Read on for more information.
Petrol Price in Bhandara
The petrol price in Bhandara today is INR 104.99 per litre.
Over the next few days, the price of petrol in Bhandara stabilized. Today, the Bhandara petrol price finally dropped below the INR 104.99 mark.
The fuel rate fluctuations have not been very dramatic in Bhandara.
Diesel Price in Bhandara
The diesel price in Bhandara today is INR 91.52 per litre.
Over the next few days, the rate of diesel in Bhandara stopped fluctuating. Today, the Bhandara diesel price finally dropped to the original INR 91.52 per litre mark.
The diesel price fluctuations have not been very drastic in Bhandara.
Factors Which Affect the Price of Fuel in Bhandara
The prices of petrol and diesel are revised every day at 6 a.m. There are many factors that lead to frequent price instability. This is referred to as Dynamic Fuel Pricing.
Years ago, fuel rates did not change on an everyday basis. In fact, the prices would only change two times a month. This was usually on the 1st and 16th of every month. But now due to crude oil prices and currency exchange rate changes, the price of fuel changes daily.
Here are the primary factors which alter the price of fuel:
Global crude oil price: The entire world uses USD to trade in crude oil. Its price can fluctuate for many reasons. For example, bad weather can delay the shipment of crude oil. This impacts the supply change. More delay could translate to higher fuel rates as the demand for fuel will not go down. Another factor is the currency exchange rate. If the Indian Rupee drops in relation to the US Dollar, the price of fuel in India will rise.
Central Excise Duty: The government of India levies excise duty on petrol and diesel. This duty is applicable to every product sold or manufactured in the country. It remains the same across the states.
VAT: The state government charges VAT on petrol and diesel. VAT (Value Added Tax) comes under state subject. This is a primary reason why petrol and diesel prices vary from state to state.
Dealer’s commission: A petrol or diesel dealer carries the fuel from its supply unit to the retail pump. Dealers charge money for transportation. Longer the distance, the higher the dealer’s commission.
OMC profit margins: Oil Marketing Companies (OMC) purchase and distribute fuel. They can increase or decrease their profit margin on sale, which influences the selling price of fuel.
Park+ - An Easy Way to Check Fuel Prices
If you want daily updates on fuel rates, download the Park+ app. Receive the latest petrol and diesel prices in your area at your fingertips. In addition to this, the app also offers many other features. You can check your eChallan status, book a spot for parking, hire car cleaning services and more.