Valley News Desk

The Petrol prices in Jammu And Kashmir are based on

dynamic fuel pricing system and hence revised on a

regular basis. The petrol rates are revised at 6 am every

day. This dynamic pricing ensures that even a minute’s

variation in global oil prices can be transmitted to fuel

users and dealers. The final petrol rate is decided by

adding payment to the refineries, excise duty, dealer

commission and Value-Added Tax or VAT.

After adding these, the retail selling price of petrol gets

nearly doubled. Several factors determine the price of

petrol like rupee to US dollar exchange rate, cost of

crude oil, global cues, demand for fuel, among others.

When international crude oil prices gain, fuel price in

India moves higher.

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Valley News Desk