Petrol Price In Kurukshetra

Prices of petroleum are revised on a daily basis as they are variable in nature. You can check the last 10 days’ trend in Kurukshetra’s petrol prices below:

Petrol is an important component of households' and businesses' daily life. Consequently, understanding the factors that can cause movements in the petrol price in Kurukshetra holds importance:

• Crude oil prices: The impact of global crude oil price movements can significantly impact petrol prices in India. This is because India imports the majority of its crude oil from other global players. Since crude oil is a major component of petrol processing, the price impact is passed on to petrol.  

• Refining costs: The petrol supply chain is also impacted by changes in refining costs of crude oil. This directly affects the petrol prices.  

• Tax structure: The petrol prices in India attract both a central excise duty and a state tax. The state of Haryana imposes 18.20% or ₹14.50/litre whichever is higher as VAT, and an additional 5% tax on VAT. Updates in the central or state tax structure can cause price changes in petrol. 

• US Dollar-to-Rupee exchange rates: Transactions for global crude oil are processed mostly in US Dollars. For instance, if the Indian Rupee depreciates against the Dollar, the importing bill goes up. The impact is transferred onto petrol prices. 

• Demand-Supply Dynamics: During holidays, seasons, or festivals, the price of petrol may go up due to increased demand. Alternatively, during any supply chain disruptions the petrol price may go down.

Petrol prices in Kurukshetra are determined in a similar manner as other cities in India. The ‘dynamic fuel pricing’ mechanism is deployed throughout India. Through this mechanism, petrol rates in Kurukshetra are streamlined daily at 6 AM. The underlying objective is to stay aligned with global crude oil variations, volatility in the oil markets, and any other real-time updates. The price is updated and reviewed by licensed oil marketing companies like Indian Oil, Bharat Petroleum, and Hindustan Petroleum. 

Check out the ways fuel price fluctuations impacts the daily budget in households of Kurukshetra include:

• Cost of essentials: As transportation becomes expensive due to higher fuel costs, the cost of transporting goods also goes up. The effect is passed on to essential goods like groceries, food items, vegetables, etc as well. 

• Daily commuting: Cost of commuting and travelling also increases as the fares of public transport- buses, autos, cabs, etc- also rises. This is also true for private vehicles where direct fuel expense increases.

• Lower disposable income: As expenses on fuel, commuting, essential purchases, etc goes up, the overall household spending reduces. This leads to a lower disposable income per household. 

• Impact on Small Businesses and Self-Employment: The operational costs of small businesses, shop-owners, self-employed individuals, etc also goes up due to higher logistics and transport costs. 

• Delivery and convenience services: Food delivery, courier services, and doorstep convenience platforms often raise their fees during fuel price hikes, adding to household spending.

While fuel prices are beyond individual control, smart habits can help reduce overall consumption:

• Driving Speed: Smooth and consistent driving helps improve mileage and reduces fuel wastage.

• Regular Maintenance: Proper maintenance reduces friction and keeps the engine efficient, lowering fuel use.

• Proper Tire Inflation: Correct tyre pressure improves fuel efficiency by reducing drag.

• Avoid Idling: Turning off your vehicle during extended stops, such as traffic jams, prevents wasting fuel.

• Shared Rides: Carpooling and public transport help cut down personal fuel spending.