Petrol Price in Lakshadweep

Petrol Price in Lakshadweep Today (Apr 16 2024)

The Petrol Price in Lakshadweep is ...

State	Today	Yesterday	Rate Change
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State-wise Petrol Prices

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Petrol Prices in Major Cities

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Petrol Rate in Lakshadweep

• Today’s Petrol price in Lakshadweep is ... per litre.

Trend of Petrol Price in Lakshadweep for February 2022 (rates per liter):

Parameters	Rates/litre
1st February	Rs. 91.00
28th February	Rs. 86.36
Highest Rate in February	Rs. 86.36
Lowest Rate in February	Rs. 91.00
Overall Performance	Rise
Percentage Change	4.64%

 

• The petrol price in Lakshadweep 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 Lakshadweep for January 2022 (rates per liter):

Parameters	Rates/litre
1st January	Rs.86.36
31st January	Rs.83.88
Highest Rate in January	Rs.83.88
Lowest Rate in January	Rs.86.36
Overall Performance	Incline
Percentage Change	2.48%

 

• The petrol price in Lakshadweep 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 Lakshadweep for December 20212021 (rates per liter):

Parameters	Rates/litre
1st December	Rs. 83.88
31st December	Rs.82.58
Highest Rate in December	Rs.82.58
Lowest Rate in December	Rs.83.88
Overall Performance	Incline
Percentage Change	1.30%

 

• The petrol price in Lakshadweep 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 Lakshadweep for November 2021 (rates per liter):

Parameters	Rates/litre
1st November	Rs.82.58
30th November	Rs.81.32
Highest Rate in November	Rs.81.32
Lowest Rate in November	Rs.82.58
Overall Performance	Incline
Percentage Change	1.26%

• The petrol price in Lakshadweep 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 Lakshadweep for October 2021rates per liter):

Parameters	Rates/litre
1st October	Rs.81.32
31st October	Rs.81.32
Highest Rate in October	Rs.81.32
Lowest Rate in October	Rs.81.32
Overall Performance	Stable
Percentage Change	0.00%

• The petrol price in Lakshadweep 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 Lakshadweep for September 2021(rates per liter):

Parameters	Rates/litre
1st September	Rs.81.23
30th September	Rs.80.13
Highest Rate in September	Rs.81.23
Lowest Rate in September	Rs.80.23
Overall Performance	Decline
Percentage Change	-1.23%

 

• The petrol price in Lakshadweep 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%

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 Lakshadweep and the Other States

Andhra Pradesh	87.24 ₹/L
Assam	87.69 ₹/L
Bihar	93.48 ₹/L
Chhattisgarh	89.62 ₹/L
Gujarat	88.20 ₹/L
Haryana	89.25 ₹/L
Himachal Pradesh	89.11 ₹/L
Jammu And Kashmir	92.67 ₹/L
Jharkhand	88.52 ₹/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 Lakshwadeep

Petrol prices in Lakshwadeep 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.

How are Petrol Prices in Lakshadweep 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 Lakshadweep

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.

News

Petrol Costs Rs.89.44 in Mumbai

Fuel prices continued to rise for the second consecutive day in Delhi and Mumbai after a quick gap of each day. Petrol prices have risen to Rs.79.99 per litre, up by 48 paise, in Delhi, while in Mumbai it costs Rs.87.39 a litre, up by 48 paise. Diesel prices have increased to Rs.72.07 per litre, up by 53 paise, in Delhi and in Mumbai it’s available at Rs.76.51 a litre, up by 55 paise. On 5 September, petrol and diesel rates were kept unchanged which was available at Rs.79.31 per litre in Delhi and at Rs.86.72 in Mumbai. Diesel was sold at Rs.71.34 per litre in Delhi, while in Mumbai it had been available at Rs.75.74 a litre. Before the hike on 5 September, fuel prices were hiked for ten consecutive days. However, on Thursday, both the petrol and diesel price were increased. Fuel prices are revised to support the global crude price and the currency rate of exchange of the rupee. Oil companies change fuel prices on a day to day under the dynamic fuel pricing mechanism which is effective from 6:00 am IST.

FAQs

✅ Is the price of petrol revised a day in Lakshadweep?

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 Lakshadweep 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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