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IJSTR >> Volume 7 - Issue 6, June 2018 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



Neural Network-Based Fuel Price Prediction

[Full Text]

 

AUTHOR(S)

Rishikesh.G, Boopathi.M

 

KEYWORDS

GST; Petrol price; Crude oil price.

 

ABSTRACT

In India, from June 16th onwards fuel price is fixed by the oil companies by day today basis. The price fixation is based on the crude oil prices in the international market. This study probes the revised petrol price based on the estimated GST in India for the time span of October 2, 2017 to January 31, 2018. Neural network model is trained by this data and crude prices to predict the fuel price. From February 1, 2018 to 22, 2018 the fuel price is simulated and verified with the original price. The error percentage also reveals the exactness of the model simulated. In this paper, additionally fuel price is estimated along with GST. Even though GST is not yet implemented for fuel, with 4 different percentages it was simulated. Results revealed that there is a considerable amount of decrease in the petrol price if the GST is implemented in India. This study also breaks up the taxes involved in pricing of petrol in India and shows how GST helps the end consumer in the reduction of petrol prices by cutting down the taxes like excise duty and VAT.

 

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