Petrol Rate in Bihar

Petrol Price in Bihar

Petrol Price in Bihar : Bihar is the thirteenth largest state of India. It is situated on the eastern side of India and covers an area of 94,163 sq. km. This state occupies the 3^rd position according to the population of India. It is assumed that nearly 58 percent of people of Bihar haven’t attained the age of twenty-five years. This gives Bihar the highest percentage of young inhabitants in comparison to other states of India. In the year 2016, the number of motorcycles that plied in this state was 5.482 million. As there are many industries in the area of Hajipur, Bihar needs more fuel for fulfilling its requirements towards development.

The measurement of the petrol price

Bihar today petrol price can be gotten easily as the prices of fuel are revised regularly beginning from 6 o’clock in the morning according to the prices of global crude oil. It is presently owing volatility to some geopolitical tension besides the uncertainly that prevails in the industry of oil.

The cost of petrol in Bihar today is 83.73 per litre. The petrol price in Bihar is revised under the technique of Dynamic Fuel Pricing. This method makes many oil marketing companies that include Hindustan Petroleum, Indian Oil Corporation, Shell Oil, and Bharat Petroleum. They alter the rates of fuel formed on the buying cost of crude oil from the international market and it includes the currency conversion rate and tax rate.

Bihar Petrol Rate Today

What are the advantages of the Dynamic Fuel Pricing process?

The method of dynamic fuel pricing that the oil marketing companies adopt is useful for revising the prices of fuel. This proposes many advantages to the oil refinery companies besides the consumers. And so, with it the petrol price of Bihar today can be known easily. Again, by following the above-mentioned process for pricing petrol all across the fuel stations, an oil marketing company can manage the company’s working capital. It also aids the companies in keeping their cash outflows and cash inflows unaffected all through the year.

With this fuel pricing method, people can know the petrol rate in Bihar effectively well. There are two ways in which this method can be accomplished; automatically and manually. The process of knowing petrol aajkabhav in Bihar can be accomplished automatically by automating petrol bunks and when it is done manually, then it is accomplished in an automated petrol pump.