Haryana is a North Indian state bordered by Rajasthan to the west and the south and by Himachal Pradesh and Punjab to the north. By population, the state is the eighteenth biggest. It is an affluent state too with a constant growth in industrial and agricultural sectors. Chandigarh is the capital city of Haryana. Faridabad, the National Capital Region, is the state’s most populated city while Gurgaon is the NCR’s financial hub.
Petrol Prices in Haryana
A litre of petrol in Ambala, a city in Haryana, costs Rs.67.94 per litre at Bharat Petroleum. The same revision can be seen in other state-run petrol retailers such as Shell India, Essar Oil, Hindustan Petroleum. The latest change in the cost of petrol in Ambala was on 4th October 2017. It was reduced by Rs.2.49.
The average price for the last ten days is Rs.70.34. After the first fortnight of dynamic fuel pricing, the price was Rs.63.51 per litre that later raised to Rs.68.52. The price has increased by Rs.5.01 since the implementation of daily revision.
How are Petrol Prices in Haryana calculated?
Well, the retail selling price of petrol in Haryana is assessed based on a few considerations such as the cost of unrefined oil in overseas markets, refinery expenses, the central excise duty, the state VAT on petrol, the dealer’s commission. Currently, a barrel of oil costs approximately $50. This is subject to change. The cost of OMC is estimated to be Rs.9.34 per litre that is added to the cost oil per litre.
Factors Affecting the Cost of Petrol in Haryana
The cost of crude is the biggest factor influencing the RSP of petrol in any part of the country. Oil is always traded in the base currency, which is the USD. India is an oil importing country. If the base currency strengthens against the local currency, the purchasing cost of oil will go up; if it falls against the local currency, then buying cost of oil will be diminished. As a result, the RSP of petrol in Haryana is proportionately impacted by the cost.
GST Impact on Fuel in Haryana
Goods and Services Tax (GST) is a new, unified, comprehensive taxation platform for Indian taxpayers. The government implemented it in the month of July 2017. What happened in Haryana soon after the execution of this platform? If sources are to be believed, in Haryana, high-speed diesel sales are down nearly about 30% because of slashed demand from fuel retailers and trucks.
