Ganjam, Odisha has been witnessing frequent fluctuations in petrol and diesel prices since 2021. Some of the major reasons behind this include the dynamic international market conditions, taxes, subsidies, and more.
As a resident of the city or a traveler planning to make a visit, you must know about the current petrol and diesel price in Ganjam. And that's what we will discuss today. From the current petrol and diesel prices in Ganjam to the factors affecting them, we have all the information you will need!
Petrol Price in Ganjam
The petrol price in Ganjam today is around Rs. 102.58 a litre. Talking about the petrol price of the previous day. In the last week, the price of petrol fluctuated between the range of Rs 102.58 to Rs
Ganjam’s Petrol Price Trend - December 2022:
In December, the Petrol price in Ganjam was around Rs. 104.57 a litre. It saw a rise of 0.44 per cent from the close of November (Rs 104.11 a litre).
In December, the highest rate for Petrol was around Rs.104.66, which was a rise of 0.85 per cent between the 1st to the 11th of December.
In December, the lowest rate for Petrol was around Rs.103.77, which was a fall of 0.86 per cent between the 1st to the 11th of December.
Diesel Prices in Ganjam
The diesel price in Ganjam (Odisha) today is around Rs. 94.1 a litre. The price of diesel in Ganja was fluctuating between Rs. 94.1 to Rs 94.1 in the last week. The diesel price of Ganjam includes the state taxes of Odisha.
Ganjam’s Diesel Price Trend - December 2022:
In December, the Diesel price in Ganjam was around Rs 96.08 a litre. It saw a rise of 0.46 per cent from November’s close (Rs 95.64 a litre).
In December, the highest rate for Diesel was around Rs.96.17, which is a rise of 0.89 per cent between the 1st to the 11th of December.
In December, the lowest rate for Diesel was around Rs.95.31, which is a fall of 0.9 per cent between the 1st to the 11th of December.
The impact of fluctuating fuel prices on the economy of Ganjam
Ganjam is amongst the densely populated districts in Odisha. The economy of this district relies on agriculture to a large extent. The fluctuating prices of various fuel products have impacted the economy of Ganjam. Transportation is becoming expensive for people who reside in remote areas. They find it tough to transport their goods to markets, where they can get a reasonable price for their products. This burdens the farmers who already struggle with high costs of input and poor returns.
Other sectors like tourism, trade and commerce, hospitality, etc., that rely on transportation like buses and trucks, also seem to be affected by the fuel price hikes. These businesses are seeing a fall in their profits because of high overhead expenses. A few industries have also been forced to either shift production overseas or close down due to a lack of affordability and competition. This also exacerbates the issue of unemployment in Ganjam.
That said, here are the factors affecting fuel and diesel prices in Ganjam:
The price of crude oil in international markets: Crude oil is the main component of gasoline. Thus, the price of crude oil directly in foreign markets impacts the price of petrol and diesel in India.
Government Taxes: It includes excise duty charged by the Central Government as well as State Government's VAT taxes.
Distribution and marketing costs: The final petroleum products must be transported to gas stations for sale. The cost of this transportation can add to the price of gas. Gas station owners must also cover the cost of marketing and advertising their products.
Conclusion
So that was all about the petrol and diesel prices in Ganjam. Fluctuations in petrol and diesel prices can increase transportation costs, reducing the demand for items produced locally, and making companies shift their base. Thus, being aware of the recent fluctuations in fuel prices is essential to manage your budget. The Park+ app and Park+ website make it simple to keep track of fuel prices in any area. You can also set up reminders, so you don't miss out on important price updates. Download the app today!