Petrol Price In Ambala
The petrol price in Ambala has been fluctuating in the recent months due to various reasons. The primary component of the varying fuel rates is the international crude oil prices. However, this isn’t the sole determining factor. There are many others too.
Before we understand about them and learn how fuel rates fixed in India, here is a quick introduction to Ambala as well as its economic growth.
Ambala is amongst the 22 districts in the state of Haryana with 2 sub-divisions:
- Ambala sub-division
- Naraingarh sub-division
These are divided further into tehsils. Situated at the Indo-Gangetic Plains, Ambala is conducive and fertile to agriculture. Nevertheless, the primary sectors contribute much less to the overall economy of this city than to Haryana.
The city is not only well known for its small-scale industries but also one of the biggest producers of surgical and scientific instruments in India. Popular for its numerable scientific instrument producers, Ambala manufactures instruments and microscopes that are widely used in laboratories.
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Apart from these, it also manufactures submersible mixers, grinders, and pumps. Also, it is a vital trading center for textile business.
Factors That Affect Petrol Price In Ambala
Though there are multiple factors that affect the petrol rates in any region in India, the most important ones are listed below:
1. The Price Of The Crude Oil
Popularly known as “Black Gold,” Crude Oil is one of the key elements in determining the price of petrol in a country. It is one of the precious commodities in the world, whose rate affects the fuel prices in the Indian domestic market. However, the price revision might not be affecting directly, as there are many other factors involved too.
2. Increase In Demand
The general rule is that whenever there is an increase in demand, the price of a commodity automatically increases. So, a commodity like fuel is no exception. As far as some developing nations like India and China are considered, the economy poses an increasing growth. No wonder Indian residents face unexpected spikes in petrol and diesel prices.
3. Climatic Conditions
Bad weather conditions or natural disasters can affect the oil-producing countries in a great way. Since their amenities are destroyed, the consequences are not only immediate but also affects many other countries vastly.
4. Geopolitical Tensions
Political interruptions even in one oil-producing country can affect other greatly. Say, for instance, any small conflict in the Middle East, which also happens to be the biggest oil-production in the world, can have a great impact on the whole world. So, this is another reason why gasoline prices incline.
5. Seasonal Changes
This is another factor for fuel prices to go up because fuel additives depend on the season. They are usually high during summer and winter seasons, as these are the peak times when it experiences a high demand from the consumers worldwide.
What Pricing System Does Ambala Follow?
As of now, Ambala uses the concept of “dynamic fuel pricing” to determine the latest petrol rates. This is the most advanced pricing methodology to be implemented in India. In fact, this is something that most developed countries to follow.
Before “dynamic fuel pricing” was implemented, the fuel rates were updated on a fortnight basis, which was on the first and sixteenth day of every month. Hence, it was popularly known as the “fortnight fuel pricing system.” However, this had a lot of disadvantages and that’s exactly when the concept of dynamic pricing mechanism was applied.
The existing fortnight system was updated at 8:00 a.m. on the first and sixteenth day based on their previous day’s prices. However, the dynamic system involved updating the prices every morning at 6:00 a.m. based on the CER (Currency Exchange Rate) and latest international crude oil prices.
The system was mainly implemented to bring more transparency to the system and to prevent the governments from affecting or influencing the OMCs (Oil Marketing Companies).
Does GST Have Any Influence On Ambala’s Petrol Prices?
Since GST (Goods and Service Tax) is not yet been covered for a commodity like fuel, it doesn’t have any influence or effect on the overall petrol prices in Ambala.
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