Petrol Price in Chhatisgarh

The petrol rates in Chhattisgarh is revised regularly on a daily basis in sync with the changing trends in the global crude oil industry. The current system of pricing of fuel has bought in more transparency in the domestic oil pricing pattern. The global fuel prices movement is the main criteria behind the frequently changing domestic fuel prices. Any increase or decrease in the crude oil prices will have a repealing effect on the domestic petrol prices in the country.

Petrol Prices in Chhattisgarh

Chhattisgarh is one the tenth largest state in the country. The state has rich resources and is a source of major part of electricity and steel generation in the country. It alone accounts for close to 15% of total steel production in the nation apart from this the state is one of the fastest developing states in the nation.

With an estimated growth rate of 6.7% during fiscal 2017-2018, the state has witnessed a surge in the development rate which in turn has led to the high consumption of petrol over the last few years.

Currently, the petrol rates are revised on a daily basis as per the dynamic fuel pricing technique in India and it is centrally managed by the major oil marketing companies in the country. The new system of fuel pricing encounters the previous fuel pricing system which was revised once in 15 days.

Under the dynamic fuel pricing system, the fuel prices in the country depend on the global crude oil prices. If the prices fall in the global market, the fuel prices in the domestic market will also come down and vice-versa.

Fuel prices will be revised across the country automatically by automated fuel stations and manually by non-automated fuel stations.

Tax Rates on Petrol in Chhattisgarh

Each and every state in the country levy a separate tax rate on the fuel prices. It usually differs from one state to another state. In Chhattisgarh, the state government has imposed a state-based value added tax which currently stands at 26.94%.