What is the Petrol Price in Goa?

The price of crude oil has been on a roller coaster ride this year. Last summer, when the Covid pandemic halted global trade and logistics, demand for petroleum fell, driving the worldwide price of the commodity to decade-low levels.

Crude oil prices have continued their upward trend, and the cost of a single barrel is now sitting at the highest in the last 5 years. At the same time, as one of the world’s top crude oil importers, India has had to contend with the turbulence of the oil market. Since April of last year, petrol prices have risen steadily, surpassing Rs 100 per litre in June of this year. 

The petrol price in India, hit a new high of Rs 115.50/Litre earlier this month, prompting the Central government to declare a Rs 5 and Rs 10 reduction in excise tax on petrol and diesel, respectively. Most BJP-ruled states lowered the VAT on gasoline and diesel on the eve of Diwali, only hours after the Centre announced this decision. While this action has reduced fuel costs to below Rs 100 in most regions of the nation, the controversy over fuel prices has only intensified, with a significant segment of the population challenging the general pricing system. You can also compare the petrol price in Maharashtra with the petrol price in Goa.

Petrol Price In Goa Now

Petrol price in Goa has increasingly become erratic. The current fuel price in North Goa is Rs. 96.23 and it is Rs. 96.10 in South Goa  (10 November 2021). Every day at 6 a.m., the cost of petrol is changed. This dynamic pricing guarantees that even the most minor changes in global oil prices are communicated to petrol consumers and dealers.

Petrol Price In Goa For Last 10 Days

Petrol prices have fluctuated in the last 10 days in Goa. Some marginal differences can be found in the price in the Northern and Southern parts of Goa. Below is the table where you can find out the exact prices and changes in both the places.

Factors Affecting Petrol Price In Goa

Multiple variables influence the price of petrol in Goa on any given day:

•  The cost of crude oil; 
• The exchange rate between the Indian Rupee and the US Dollar, demand and supply ratios; 
• Charges are paid by the Oil Marketing Companies (OMCs) that refine and transport the oil;
• Commission charged by the dealer; 
• In Goa, there are two types of taxes paid on petrol. The first is the excise duty levied by the federal government, while the second is the Value-Added Tax (VAT) imposed by the Goa state government.