Fuel Price in india

 

India’s fuel prices are among the highest in the world, with petrol prices higher than even oil-rich countries like the United Arab Emirates and Norway. In fact, some experts predict that petrol prices could touch Rs 100 per litre by 2022, if not sooner. Let’s take a look at what factors are contributing to this trend and why we might be looking at massive hikes in fuel prices in India over the next five years.

 

Global fuel prices

Fuel prices have been on the rise globally for the past few years. In India, the cost of petrol and diesel has increased significantly. The government has been trying to mitigate the burden on consumers by providing subsidies and changing tax structures. 

However, this has not been very effective. As a result, many people are struggling to afford fuel. The situation is likely to improve in the coming years as new sources of oil are developed and production increases. For now, though, fuel prices remain high and continue to cause problems for Indian consumers.

 

Which city has the lowest fuel price in India?

The average price of petrol in India today is Rs. 100 per litre. The city with the lowest fuel price is Hyderabad, where the average price is Rs. 82.94 per litre. In Mumbai, the average price is Rs. 90 per litre. Delhi has the highest fuel prices in India, with an average price of Rs. 96.72 as per 22 Aug 2022 per litre.

 

Future Prices

By 2022, the price of petrol is expected to reach Rs. 100 per litre in India. This is due to the continued rise in crude oil prices and the declining value of the Indian rupee. Diesel is also expected to become more expensive, reaching Rs. 90 per litre. 

These prices will put a strain on Indian consumers, who are already struggling with high inflation and low wages. It will be difficult for households that depend on public transportation or have large families. Rising fuel prices are also bad for businesses and industry, as it makes doing business much more expensive in India than elsewhere in the world.

 

How To Calculate Petrol Price

To calculate the petrol price, you need to know the current cost of crude oil and the US dollar to Indian rupee exchange rate. Crude oil is priced in US dollars per barrel. The cost of crude oil varies from day to day and week to week. 

The US dollar to Indian rupee exchange rate also changes daily. You can find both the current cost of crude oil and the US dollar to Indian rupee exchange rate on websites like Bloomberg or Reuters.

 

How To Calculate Diesel Price

In order to calculate the current diesel price in India, you need to take into account the cost of crude oil, refining costs, excise duty, and other taxes. The cost of crude oil is the biggest factor in determining the price of diesel. 

Refining costs are also a significant factor, as they can vary depending on the type of refinery used. Excise duty is a tax levied by the government on fuel products, and it is typically around 12-13% for diesel. Other taxes, such as value-added tax (VAT), are also applied to the final price of diesel.

 

How To Calculate CNG Price

To calculate the CNG price, you need to know the current natural gas price and the desired margin. The natural gas price is published by Henry Hub and is available on their website.

 The desired margin is determined by the company and will vary depending on their business model and objectives. To calculate the CNG price, simply add the two numbers together.

 For example, if the natural gas price is $3.00/mmBtu and the desired margin is $0.50/mmBtu, then the CNG price would be $3.50/mmBtu. A three-part process helps determine a company's desired margin:

1) Determine the difference between a higher natural gas price and a lower natural gas price for an organization's use of CNG;

2) Determine how much money is needed to cover any startup costs;

3) Calculate the total number of hours per year that can use lower cost fuel.

 

Where is world's cheapest petrol?

Prices for petrol vary widely around the world. In some countries, like the United States, petrol is relatively cheap. In others, like Norway, it's much more expensive. And in still others, like India, it can be both cheap and expensive depending on where you are and what time of day it is. 

To get a sense of the current situation in India, let's take a look at two gas stations not too far from each other that have different prices. The first gas station we'll visit sells petrol at Rs 64 per liter ($1 per gallon). That would cost about $2 USD to fill up your tank here. The second gas station only charges Rs 46 per liter (a little over $1 USD).

 However, because they're not as busy, they charge you an additional Rs 10 just to enter their parking lot. For example, if you wanted to fill up your tank with 10 liters at this location - that would cost approximately $14 USD!

 

Which country has highest petrol rate?

India has the highest petrol rate in the world. As of today, the price of petrol in India is $0.22 per liter. This is more than twice the price of petrol in the United States, which is currently $0.10 per liter. The high cost of petrol in India is due to a number of factors, including taxes and subsidies.

 One tax on petrol in India is levied at the time when crude oil enters the country from abroad. When this tax was raised from 20% to 30% last year, it caused a significant spike in the price of petrol and other fuels. In addition, over 90% of Indians use public transportation for their daily commute 

- cars are primarily used by business people - so there are no supply-and-demand pressures that affect the market as there are elsewhere. The government also subsidizes diesel fuel but not gasoline or kerosene, making it cheaper for private cars to use diesel than gasoline or kerosene while relying on public transportation options like buses or trains.