Patna : Fuel prices in Bihar continue to exhibit fluctuations, with petrol, diesel, and CNG rates impacting consumers across the state.
Petrol: The average petrol price in Bihar stands at Rs. 106.94 per litre. In Patna, the capital city, petrol is retailing at Rs. 106.11 per litre, reflecting a recent increase from Rs. 105.47 two days prior. This rise is attributed to global crude oil price fluctuations and the state’s taxation policies, which include a Value Added Tax (VAT) of 23.58% or Rs. 16.65 per litre, whichever is higher, along with a 30% surcharge on VAT as an irrecoverable tax.
Diesel: Diesel prices have seen a slight decrease, with Patna recording Rs. 92.09 per litre today, down from Rs. 92.92 earlier this week. This reduction offers some relief to consumers, especially those in the transportation and agricultural sectors.
CNG: Compressed Natural Gas (CNG) prices remain stable in Patna at Rs. 84.54 per kg, a rate that has persisted for the past 10 months. This stability provides an alternative for consumers seeking cost-effective fuel options.
The dynamic pricing system adopted by India ensures that even minute variations in global oil prices are transmitted to fuel users and dealers. While this mechanism promotes transparency, it also means that domestic fuel prices are susceptible to international market volatility.
The fluctuating fuel costs have broader implications for the state’s economy, affecting transportation expenses and, consequently, the prices of goods and services. Consumers, especially those in rural areas who rely heavily on fuel for agricultural and daily activities, are feeling the financial strain.
