Petrol and Diesel Price in Nandurbar
Nandurbar city is located in the Dhule district of Maharashtra, India. The city is witnessing rapid growth in its population as well as industries. This has resulted in high demand for petrol and diesel by both people and businesses. So, whether you are a resident of the city, or own a business there, having the right information about petrol and diesel is essential.
Since the prices of petrol and diesel change frequently, knowing the exact details about fuel prices is essential. This article will walk you through the current fuel prices in Nandurbar. Read on!
Petrol prices in Nandurbar
Petrol prices in Nandurbar have been fluctuating significantly over the last ten days. Petrol price in Nandurbar today at Rs. 105.38(average).
Diesel Price in Nandurbar
After the petrol prices in Nandurbar, let's have a look at the cost of diesel in the city. The current diesel price in Nandurbar is Rs. 91.87 per litre.
Factors Affecting Petrol Prices in Nandurbar
The cost of crude oil in the international market: Crude oil is the main component of gasoline and accounts for about two-thirds of the price. In India, most of the crude oil is supplied by OPEC countries. When there is a shortage in the supply of crude oil, prices of crude oil increase in the international market. The price increase will affect the price of petrol and diesel as well.
The cost of refining: Refining crude oil into gasoline is costly and accounts for about one-sixth of the price at the pump. This refining process is conducted by various oil refineries situated across the country. Since these refineries employ a large number of equipment, technology, and people they spend significant money on the entire process too.
Taxes including the Central government's excise duty and the State government's VAT: Federal, state, and local taxes account for almost one-tenth of the price of gasoline.
Distribution and marketing costs: These costs, which include transportation and storage, account for about another tenth of the price.
Freight Charges: The charges for transporting petroleum products from refineries to the nearest hub or transport center are also added to the final petrol prices.
Effects of rising fuel prices on economy
The effects of rising fuel prices on the economy are far-reaching. High fuel prices can significantly impact the production, distribution, and transportation costs of goods and services, leading to a ripple effect of price hikes across the entire economy. Increased fuel prices also create higher costs in production activities, resulting in inflation and reduced consumption.
This combination can severely impact global market fluctuations and has been historically linked to numerous recessions. To combat rising fuel prices, governments have implemented short-term policies, such as temporary tax reductions or subsidies, and long-term strategies to stabilize pricing.
Why is petrol getting costlier in India every day?
With the global price of crude oil rising, it's no surprise that petrol prices in India follow suit. The economics here is simple - higher crude oil prices result in increased costs for refineries which then find their way to petrol pumps. Additionally, taxes levied on petrol by state governments also contribute to its increasing cost.
In recent times, though, some of these factors have been moderated due to government interventions such as rolling down hikes in taxes and levies being slashed for dealers. However, demand for fuel has continued to rise across the country, and with the effects of inflation taking their toll, people have been experiencing harsher financial hits at the fuel pumps.
Fluctuations in fuel prices
Fuel prices are affected by a variety of external factors, with regional and global fluctuations playing an important role in the cost of fuel. These fluctuations can be caused by a wide range of sources, including the selling price of crude oil, and taxes on energy products. The changes in demand for fuel are due to weather conditions or economic activity.
When it comes to fluctuating fuel prices, being informed about the market is key. That way consumers can better understand why prices may change from day to day and are empowered to make informed decisions as they go about their everyday lives.
There are a few key things to consider when trying to stay on top of fuel prices. First, it’s important to stay informed about any changes in the price of crude oil, as this can have a large impact on fuel prices. Furthermore, keeping track of applicable taxes and fees in your area can help you understand why fuel may cost more or less in different areas.
Conclusion
So that was all about the fuel prices in Nandurbar. Are you looking for a user-friendly application that can help you stay updated with the recent changes in petrol and diesel prices? If yes, then make sure to download the Park+ app today!
The application allows the users to quickly compare prices with the daily notifications, allowing them to identify current trends. Download the app today to enjoy all the benefits.