Petrol Price in Jammu

Here is the latest information about petrol prices in Jammu today. You can also take a look at the different factors that determine and impact the cost of petrol in Jammu.

Petrol price calculation in Jammu is based on a number of factors. The primary factor is the price of crude oil in the global market. Any fluctuations in these import prices affect the petrol rates in Jammu significantly. An increase or decrease in demand also affects the petrol price in Jammu Kashmir. Moreover, this increase/decrease in supply is further influenced by the population in the region. The higher the population, the higher the demand.

The currency exchange rate also plays a significant part in influencing the current petrol price in Jammu. The oil marketing companies (OMCs) also add expenses for operational charges, import costs, refinery processing costs, freight expenses, permit charges, etc., before passing the cost to dealers, who add their commission. This highly influences the petrol rates as well. A central excise duty is also added to all petroleum products. Lastly, each state in India adds its own value-added tax (VAT) on petrol prices.

While a number of factors contribute to the Jammu petrol price amid the ever-increasing demand, you can now save on fuel expenses with your credit card. Browse through a list of credit card options offering fuel and petrol surcharge waivers at Bajaj Markets and apply now!

As per government norms, the Goods and Services Tax (GST) is not yet levied on certain commodities, including fuels. Thus, Jammu Kashmir petrol price is not impacted by GST.

GST (Goods and Services Tax) came into effect in July 2017. While it was levied on most goods and services, petrol was exempt. Recently, there have been requests for bringing petrol under the GST regime. If accepted, the highest tax chargeable on petrol will be 28 per cent. However, there has been no conclusive decision in this regard and the petrol price in Kolkata continues to not be impacted by GST.