Petrol Price in Jodhpur
Petrol rates in different states are dynamic and sometimes it is difficult to keep a track of prices. For people of Jodhpur, a renowned tourist destination and the second the largest city in Rajasthan, petrol rate can be tracked here. As we know, petrol is used for petrol-run vehicles. Because of the arrival of the latest edition of petrol-run two-wheelers and four-wheelers, there has been a consistent rise in the utilisation of petrol in the town. As a result, the whole country is exhibiting the increased demand for petrol. Despite the quantum of consumption, in a few notable cities in India, petrol rates have touched a new high. Jodhpur is no different. Petrol was sold at a price above Rs.80 per litre during the first week of June 2018.
Petrol Price Trends in Jodhpur – January 2018-May 2018
It is a common practice to understand petrol price trends. To make a comprehensive analysis, the first five months of 2018 have been mulled. The New Year began with a price offer of Rs.72.71 per litre. When revised on 31 January 2018, the fuel price in Jodhpur stood at Rs.75.76 per litre. Since crude oil rates were decreased in February 2018, there was a price downfall of Rs.1.57 per litre. In March 2018, April 2018 and May 2018, petrol rates have increased consistently in tandem with global aspects, including crude oil rates and the exchange rate. Over the last five months, the highest fuel rate was Rs.81.17 per litre as on 29 May 2018. The key point to notice here is that the petrol rate in Jodhpur increased by almost Rs.10 per litre during this span.
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How is Petrol Price in Jodhpur Revised?
Like mentioned earlier, petrol is a commodity and should be priced by fuel companies, which include Indian Oil (IOCL), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL). A product or a service has to be priced based on certain aspects. Today, fuel enterprises will use dynamic fuel pricing to value the fuel on a daily basis. Dynamic fuel pricing is a newly launched fuel pricing methodology and is used in a few advanced countries. It mulls two aspects that include the price of crude oil in transnational markets and the currency translation ratio. Consequently, you are experiencing a new fuel rate every day in your city.
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Prime Benefits of Dynamic Fuel Pricing
State-run fuel companies in India can minimise the price risk caused by fluctuations in crude oil overheads. They are allowed to deploy the technology required to revise fuel rates. It is a challenging task, but it is possible. Previously, fuel companies had to make two revisions in a month. The first revision used to happen on 1st of every month whereas the second revision used to occur on 16th of every month. Therefore, there used to be big variations in petrol prices. Since the price of petrol gets revised regularly under dynamic fuel pricing, no big fluctuations can be observed. This way dynamic fuel pricing is extremely helpful for fuel brands to manage their inventory effectively.
How can I Trace Today’s Petrol Price in Jodhpur then?
Jodhpur has a big number of IOCL dealers, HPCL dealers and BPCL dealers. Each brand has its own identity and the customer base. These fuel brands offer customer-friendly mobile applications to help its regular customers to trace the latest petrol rate in Jodhpur. You need to have a smartphone to download mobile applications provided by dealers
If you are a fuel customer of IOCL, the name of the mobile application to be downloaded by you is Fuel@IOC. Likewise, BPCL’s customers are recommended to make use of its uniquely designed mobile application called SmartDrive. If you are looking to get the fuel rate fixed at HPCL fuel station in Jodhpur, consider downloading My HPCL.
How is the RSP of petrol fixed in Jodhpur?
RSP stands for Retail Selling Price. It is paid by end customers. RSP of petrol in this city stood at Rs.80.45 per litre as on 06 June 2018. How is this RSP computed? RSP is computed by adding all the cost aspects incurred at each phase, right from production to marketing. The primary cost element is the price of crude oil, which is very volatile in nature. As on 03 June 2018, a litre of crude oil was priced at Rs.32.98 in India. OMCs will incur several types of overheads for refining purposes. The overall amount of the expenses spent by OMCs was estimated to be Rs.5.41 per litre as on 03 June 2018.
Taxes are further added. They are of two categories: excise duty and Value-added Tax. Excise duty and VAT tend to change. According to an official report released in the month of June 2018, in Jodhpur, excise duty was imposed at Rs.19.48 per litre whereas VAT was levied at 30.87%. Because of the fluctuations in these two forms of taxes, petrol prices shall be different in each Indian state. On petrol per litre, commission for dealers was revised to Rs.3.63. In the end, petrol price in Jodhpur is the sum of excise duty, commission for fuel suppliers, VAT, crude oil costs, and OMC expenditures.
What are the Factors Impacting Petrol Price in Jodhpur?
Petrol price in Delhi, the national capital, is lower compared to Jodhpur. VAT makes fuel rates change from locality to locality. In Delhi, on petrol per litre, VAT was collected at just 27%. On the other hand, in Jodhpur, VAT on petrol per litre was charged at 30.87%. As petrol has become a costlier fuel in India, the Central Government may announce an excise duty cut. Another influencer is the exchange rate. If the USD/INR downfalls, fuel rates will increase proportionately. On the flipside, if the USD/INR appreciates, fuel prices in Jodhpur will decrease equitably.
Does GST Impact Petrol Price in Jodhpur?
Fuel rates in Jodhpur cannot be impacted by GST, which stands for Goods and Services Tax. Petrol is not a taxable commodity under GST. It has been kept outside the realm of GST for a reason. From the perspective of the Central Government, the rollout of GST on petrol will make petrol prices cheaper. Ultimately, the government is more likely to suffer huge losses.
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