Petrol Price In Koraput Today

Petrol prices in India are dependent on many factors that cause fluctuations in the rates. Therefore, studying the last 10 days’ petrol rate in Koraput may provide insights into broader economic trends. While today’s petrol rate in Koraput is ₹102.63/litre, you can check the last 10 days’ petrol rate in Koraput below:

The price of petrol is dynamic. As is the case with other places, the price of petrol in Koraput is also impacted by several global and local factors. These factors include:

• Global crude oil prices: Petrol is processed from crude oil. India consumes the world’s third-highest crude oil consumer, importing mainly from Russia, Iraq, Saudi Arabia, etc. The fluctuations in global crude oil trends can lead to a great impact on petrol prices in India, and thus, in Koraput. 
• Transport & Storage: Petrol surpasses multiple transportation and storage points before reaching consumers. Any increase in these logistical expenses directly adds to the final petrol price.

• Additional State and Central Taxes: The price of petrol is first subjected to a central excise duty of ₹19.90 per litre. Next, Odisha’s state government imposes a VAT, which is 28%.

• Currency Exchange Rate: Indian companies import crude oil from international markets, typically valued in US Dollars. If the Indian Rupee weakens against the currency used to buy crude oil (usually USD), India must spend more to import it. If the Rupee strengthens, import costs fall.
• Supply and Demand Patterns: During holidays, festivals, or peak travel seasons, short-term demand surges can affect local petrol prices. Higher consumption often leads to slight increases in retail rates.

Authorised oil marketing companies—such as Hindustan Petroleum, Indian Oil, and Bharat Petroleum—are responsible for updating petrol prices daily at 6 A.M. This is based on the ‘dynamic fuel pricing’ mechanism, initiated in June 2017. The changes reflect the fluctuations in international oil prices. Under this mechanism, the government has no control over the petrol price.

As petrol prices in Koraput increase, the daily budget of households in Koraput gets affected. Here are the ways how:

• Daily expenditure: Rising petrol prices directly increase daily expenditure for households and businesses.
  
  
• Higher travel costs: Travel costs go up as private vehicle fuel expenses rise and public transport fares often increase.
  
  
• Cost of essential goods: As petrol prices increase, so does the transportation cost to procure essential goods. This leads to higher prices across essential items too.
  
  
• Lower disposable income: Overall, rising fuel rates add financial pressure on households and complicate business budgeting and long-term planning.

Some additional tips to save cost on fuel in Koraput include:

• Regular vehicle maintenance: Minor improvements such as changing engine oil, regular servicing, etc can make the vehicle fuel-efficient.
• Maintain a steady speed: Driving at a consistent speed helps optimise fuel consumption. Frequent acceleration or sudden braking strains the engine, causing your fuel tank to drain faster.
• Keep emission levels low: Low emission levels contribute to better mileage. Clean your air filter regularly, avoid adulterated fuel, and get the carburettor tuned at an authorised service centre. It’s advisable to get an emission check every three months.
• Avoid unnecessary idling: Keeping the engine running while stationary wastes fuel. Switch off the ignition if your vehicle will be idle for more than ten seconds to minimise fuel loss.
• Limit excessive clutch usage: Overusing the clutch increases fuel consumption and wears out the clutch plate. In traffic, select appropriate gears instead of riding the clutch to improve mileage and maintain vehicle health