Here is the latest information about petrol prices in Sikkim today. You can also take a look at the different factors that determine and impact the cost of petrol in Sikkim.
Petrol price in Sikkim is calculated on the basis of a number of determinants. The primary factors are the global crude oil cost and fluctuations in the US dollar (USD) and Indian rupee (INR) exchange rate. Next, the oil marketing companies (OMCs) levy their charges, including refinery margin and processing cost, OMC margin, freight costs, and logistics. Dealer charges and commissions are also taken into consideration while calculating petrol prices. Additional factors that impact the final petrol rates in Sikkim are central excise duty and state-levied value-added tax (VAT).
Finally, the demand and supply for fuel also plays a role in determining the prices. Regardless of the increase in petrol rates in Sikkim, you can now save on your petrol expenses by paying with your credit card. Finserv MARKETS brings to you a host of credit card options that offer petrol surcharge waiver at more than 1,000+ partner stations among other amazing travel benefits such as air miles. Save your hard-earned money, apply for a credit card now!
The prices of petroleum products are revised daily as per the dynamic fuel pricing policy. In accordance with the policy, the petrol price in Sikkim is updated daily at 06 AM IST. The same is reflected on the websites and applications of OMCs as well as at fuel outlets across the state.
Currently, as per the Central government norms, petrol and diesel products do not fall under the Goods and Services Tax (GST) purview. Therefore, there is no impact of GST on petrol rates in Sikkim..
The petrol price in Sikkim today (September 30, 2021) is ₹102.40 per litre.
Petrol prices in Sikkim are revised daily in accordance with the ‘dynamic fuel pricing system’. The petrol rate is revised daily at 06 am IST. It is determined based on the global crude oil prices, USD-INR exchange rate for the day, OMC costs (refinery, margin, freight, and commission), dealer commission, as well as the central excise duty and state-levied VAT.
The petrol prices are updated daily at 06 am IST. Once they are updated, you can know the updated Sikkim petrol price via the apps of oil companies or by visiting your nearest petrol pump.