Shikta Akarsh
Patna : Petrol prices across Bihar remain steady, with the average retail price hovering around Rs. 106 per litre. This stability is maintained despite fluctuations in global crude oil prices, primarily due to consistent central and state tax structures.
The pricing of petrol in Bihar is significantly influenced by taxation. The state imposes 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. These levies contribute to the elevated fuel prices in the region.
The composition of petrol pricing includes several components: the base price of the fuel, central excise duty, dealer commission, and state VAT. While the central excise duty remains uniform across states, the VAT varies, leading to differences in retail prices among states.
