Petrol Price in Ladakh Today (Jun 04 2023)
Petrol Price in Ladakh is ...
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Last 10 days Petrol Rate in Ladakh
|Date||petrol per Litre|
Petrol Price in All Cities of Jammu & Kashmir Today
|District||petrol per Litre|
State-wise Petrol Prices
Petrol Prices in Major Cities
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Petrol Rate in Ladakh
Petrol prices in Ladakh are revised daily, and this is often called the dynamic fuel price method. Petrol and diesel rates are revised at 06:00 a.m. every day. Before this prices were revised every fortnight. Various factors impact the worth of fuel. These include rupee to US dollar rate of exchange, cost of crude oil, global cues, demand for fuel, and more. When international crude oil prices gain, prices in India move higher. The price of fuel includes excise duty, value-added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission, and VAT, the retail asking price of the petrol gets nearly doubled.
Trend of Petrol Price in Ladakh for February 2021 (rates per liter):
|1st February||Rs. 91.00|
|28th February||Rs. 86.36|
|Highest Rate in February||Rs. 86.36|
|Lowest Rate in February||Rs. 91.00|
- The petrol price in Ladakh has settled to Rs. 91.00 per litre on the 1st February
- In the previous week, the prices were closed to Rs. 86.36 per litre
- The overall percentage reads to 4.64%
Trend of Petrol Price in Ladakh for January 2021 (rates per liter):
|Highest Rate in January||Rs.83.88|
|Lowest Rate in January||Rs.86.36|
- The petrol price in Ladakh has settled to Rs. 86.36 per litre on the 1st January
- In the previous week, the prices were closed to Rs. 83.88 per litre
- The overall percentage reads to 2.48%
Trend of Petrol Price in Ladakh for December 2021 (rates per liter):
|1st December||Rs. 83.88|
|Highest Rate in December||Rs.82.58|
|Lowest Rate in December||Rs.83.88|
- The petrol price in Ladakh has settled to Rs. 83.88 per litre on the 1st December
- In the previous week, the prices were closed to Rs. 82.58 per litre
- The overall percentage reads to 1.30%
Trend of Petrol Price in Ladakh for November 2021 (rates per liter):
|Highest Rate in November||Rs.81.32|
|Lowest Rate in November||Rs.82.58|
- The petrol price in Ladakh has settled to Rs. 82.58 per litre on the 1st November
- In the previous week, the prices were closed to Rs. 81.32 per litre
- The overall percentage reads to 1.26%
Trend of Petrol Price in Ladakh for October 2021 (rates per liter):
|Highest Rate in October||Rs.81.32|
|Lowest Rate in October||Rs.81.32|
- The petrol price in Ladakh has settled to Rs. 81.82 per litre on the 1st October
- In the previous week, the prices were closed to Rs. 81.82 per litre
- The overall percentage reads to 0.00%
Trend of Petrol Price in Ladakh for September 2021 (rates per liter):
|Highest Rate in September||Rs.81.23|
|Lowest Rate in September||Rs.80.23|
- The petrol price in Ladakh has settled to Rs. 81.23 per litre on the 1st October
- In the previous week, the prices were closed to Rs. 80.23 per litre
- The overall percentage reads to -1.23%
Petrol Price in Ladakh
The cost of crude oil influences the retail asking price of petrol. If it increases, the retail price will increase; if it decreases, the retail price will decrease. The value of crude oil is influenced by many factors like differences due to the season, weather reports, overseas demands and supplies, the capabilities of refineries, and political stability or instability in oil-manufacturing countries.
The rate of exchange of the Indian currency to the bottom currency also features a direct impact on the value of crude oil. For instance, if the INR falls against the USD, the buying cost of crude oil in Indian rupees will rise. Similarly, if the USD falls against the INR, the value of crude oil in Indian rupees will decrease.
Petrol is taxed by the central and state governments. the value price of petrol will increase if the share of tax imposed by both the government’s increases. Similarly, the value price of petrol will fall when the share of tax levied by both the governments decrease. On 4 October 2017, the central excise duty was reduced by Rs.2 by the central government. After the revision, the petrol rate in Ladakh was reduced to Rs.72 from Rs.74.
How Frequently is Petrol Price in Ladakh Reviewed?
The current petroleum changes can be effortlessly observed through an SMS-ready or a client assistance administration worked by state-claimed oil firms, specifically Bharat Petroleum (BP), Hindustan Petroleum (HP), Indian Oil, and Shell Oil. Furthermore, aside from this, by getting to the entrances of those oil firms, you can likewise check the most recent fuel cost of Ladakh. Following the techniques beneath, the fuel clients of Raipur can check for the current petroleum pace of the city without bargaining their own solace.
Petrol Costs in Ladakh and the Other States
|Andhra Pradesh||87.24 ₹/L|
|Himachal Pradesh||89.11 ₹/L|
|Jammu And Kashmir||92.67 ₹/L|
Procedure to Compute Petrol Prices in Kerala
Step 1: Calculation of the petroleum Price
Overseas oil-manufacturing companies sell unrefined oil to Indian oil marketing companies (OMCs) at benchmark rates. This price of a barrel, which is like 159 liters, of crude is $49 in global markets. Therefore, the value of a liter of crude is computed by converting US dollars into Indian rupees then divided by 159. The value of crude also includes freight charges paid by oil marketing companies.
Step 2: Calculation of Refinery Expenses
Upon importing crude from overseas oil companies, Indian oil marketing companies will shift crude to refineries for further processing. Crude is then clustered into several products like diesel, coal tar, and petrol in distillation towers of those refineries. The cost incurred to convert crude into petrol is named refinery cost, which is added to the value of crude. Moreover, crude custom levies and charges from ports to refineries are added.
Step 3: Other Cost Elements
Clustered petrol is now able to be stockpiled in the stowage reservoirs of oil marketing companies. The particular rate of petrol, which is paid by end consumers, consists of all the above costs plus the commission charged by dealers, excise duty, value-added tax (VAT), and total duties. In other words, the petrol price is that the cost price that consists of refining, procuring, marketing, excise duty, and state taxes.
Elements Impacting Petrol Prices in Kerala
Petrol prices in Kerala are influenced by the value of crude oil, which is traded transnationally, the fluctuations in the currency conversion rate, customs, excise duty, and VAT. Similarly, the purchasing cost of crude oil is impacted by changes in weather and seasons, the equation of supply and demand, the share of reserves and supplies, demand. The retail selling price of petrol will increase if the value of crude oil, customs, excise duty, and the VAT increase. It can subside if the value of crude oil, customs, excise duty, and VAT decrease. The tax component is often domestically administered, but factors just like the rate of exchange and crude oil rates can’t be domestically managed.
Elements Impacting Petrol Prices in Ladakh
Whenever there’s an incline in the petrol prices, a crucial factor that’s involved here is “crude oil.“ The value of crude oil in the current international market plays a key role in the domestic market also.
Increased demand for crude oil, political interventions, and low production levels in any of the oil-producing countries have a serious impact on the nations they provide.
When there is a rise in demand for a commodity, its price is for certain to extend too. This is often a general rule and thus, fuel is not any exception. As far as some developing countries like China and India are considered, the demand is popping higher and better, which becomes another important factor for the petrol prices to travel up.
The rates of not only petrol but also other petroleum products vary supported the tax norms set by the local governments. Whenever the Indian Government increases the taxes on fuels, the OMCs (Oil Marketing Companies) haven’t any choice than to extend their rates. They are doing this to get over their losses while keeping their profit margins.
This is another factor that affects the general fuel prices in any region in India. Whenever the Oil Companies have the matter of meeting the requirements of petrol, certainly be a shortage within the overall production and provide from the refineries too. This raises the crude oil’s cost, which again, backfires on the fuel rates.
How are Petrol Prices in Ladakh Responding to GST?
In India, there’s no other form except Goods and Services Tax (GST). GST is in practice since 1 July 2017. it’s applicable to all or any sorts of goods and services, which are transacted throughout the state, except crude oil derivatives including petrol. Currently, petrol isn’t taxed under the regime of GST. Therefore, petrol rates aren’t impacted by present tax slabs. during a broader picture, the whole oil and gas industry has been kept outside the GST purview.
Diesel Rate vs. Petrol Rates in Ladakh
As mentioned in the earlier section, the average price of petrol per litre in all cities of the state was Rs.68.54. The average price of diesel was Rs.57.73 as of the latest data, which 11 October 2017. The difference between the two fuels does not fluctuate much compared to other states such as Jammu and Kashmir, Kerala, Maharashtra, Tamil Nadu, and West Bengal. The current petrol price is moving in an upward direction.
Increase in Fuel Prices Prompts WPI Inflation to Incline
In the wake of crude prices rising in the global market, fuel prices in India have skyrocketed, with both petrol and diesel trading at their highest ever rates without stopping to be seen in view. Sensing the outrage against the government, the petroleum ministry led by Dharmendra Pradhan cut petrol and diesel prices by Rs.1.50 per litre while selling state-run Oil Marketing Companies (OMCs) like Indian Oil Corporation, Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL) to reduces fuel prices by Rs.1 per litre.
With fuel prices still continuing to rise, the government is being expected to witness more subsidies to offset the rising prices. However, a politician from the petroleum ministry has said that the subsidy introduced last week was just an isolated, one-time incident that won’t entertain any longer requests for price cuts.
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✅ Is the price of petrol revised a day in Ladakh?
Yes, the worth of petrol is revised a day in the state.
✅ Do state-run oil companies revise the rates as per the dynamic pricing scheme?
Yes, state-run oil companies revise the worth of petrol in Ladakh as per the dynamic pricing scheme.
✅ How was the general performance of petrol in the state for the month of September?
The overall performance of petrol in the state for the month of September was one among incline.
✅ From what time are the new rates effective?
The new rates are effective from 6 a.m. onwards.
✅ On what factors is that the price of petrol revised in Ladakh?
The price of petrol is revised in the state after taking under consideration international oil rates and rupee – US dollar rate of exchange.
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