Diesel Price In Assam Today

Diesel price in Assam today is based on the daily ‘Dynamic Fuel Pricing’ mechanism. In this page you can check the current diesel price in Assam, find todays diesel price and the quarterly price trend in Assam. New diesel prices in Assam are updated by state-owned oil firms daily at 6:00 am IST.

Additionally, find out how diesel prices in Assam are computed and how it compares to other states. Also, find the current Assam diesel price and factors affecting petrol prices in India. Also, check the highest and lowest petrol prices recorded in Assam during a month.

  • Today's Diesel Price ( 27 Oct 2021 )

    ₹ 96.09
    Current Diesel Price Per Liter

    Compare Diesel Price in Assam (Today & Yesterday)

    Rate Change
    Diesel ( / litre) ₹ 96.09 ₹ 96.09 ₹ 0 ↑

    Diesel Price in Assam - Last 10 Days Data

    Date Diesel ( / litre)
    26 Oct 2021 ₹ 96.09
    25 Oct 2021 ₹ 96.09
    24 Oct 2021 ₹ 96.09
    23 Oct 2021 ₹ 95.72
    22 Oct 2021 ₹ 95.35
    21 Oct 2021 ₹ 94.61
    20 Oct 2021 ₹ 94.61
    19 Oct 2021 ₹ 94.24
    18 Oct 2021 ₹ 93.5
    17 Oct 2021 ₹ 93.5

    Diesel Rate Trend

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    Diesel Price in Assam

    Assam is an Indian state. The capital city of Assam is Dispur, a locality of Guwahati. Like other Indian states, Assam uses diesel extensively. The state is said to have a good number of diesel users. Most fuel customers not only in Assam but also in other Indian states have expressed concerns over uninterruptedly increasing diesel rates. The increased cost of unrefined oil or crude oil and heavy taxes have caused a steady rise in diesel rates, which can be controlled. According to official reports released in June 2018, the government shall reduce both diesel and petrol rates by implementing a long-run solution before the 2019 elections.

    What is the Diesel Price Trend in Assam?

    As we all know, a price trend of any product or service shall rely upon several factors, but the case of diesel price is different. Diesel price trends throughout India are sensitive to both indigenous and overseas elements. Assam is no different. Let’s consider Dispur to understand the price trend of diesel in Assam from January 2018 to May 2018. Diesel rate on the first day of the year was Rs.62.26 a litre. It increased to Rs.66.81 a litre on the last day of the first month, January 2018. The second month of the year began with diesel being priced at Rs.66.90 a litre, but the closing price for the moth fell to Rs.64.82 a litre.

    Also Check: Diesel Price in Guwahati

    March 2018 started with a rate of Rs.64.93 a litre and concluded with a price of Rs.67.21 a litre. The fuel was sold at Rs.67.40 a litre on 1 April 2018 and at Rs.68.83 a litre as on 30 April 2018. Similarly, on 1 May 2018, diesel rate in the city of Dispur stood at Rs.68.83 a litre. The last day of May 2018 recoded a price of Rs.72.31 a litre. Diesel prices were increased by 6.81%, 3.39%, 2.08% and 4.81% respectively in January 2018, March 2018, April 2018 and May 2018.They were cut by 3.21% in February 2018. Between January 2018 and May 2018, at Indian Oil, the highest diesel rate was 72.37 a litre on 29 May 2019.

    Quarterly Diesel Price Trend in Assam Between October and December 2018

    October November December
    Opening date price Rs.78.61 a litre Rs.74.69 a litre Rs.67.91 a litre
    Closing date price Rs.74.69 a litre Rs.68.31 a litre Rs.63.08 a litre
    Highest price Rs.78.96 a litre booked on the 4 October 2018 Rs.74.69 a litre booked on the 1 November 2018 Rs.67.91 a litre booked on the 1 December 2018
    Lowest Price Rs.73.81 a litre booked on 5 October 2018 Rs.68.31 a litre booked on the 30 November 2018 Rs.63.08 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -4.99% -8.55% -7.12%

    Quarterly Diesel Price Trend in Assam between January and March 2019

    January February March
    Opening date price Rs.63.08/litre Rs.66.1/litre Rs.67.62/litre
    Closing date price?? Rs.66.29/litre Rs.67.47/litre Rs.66.76/litre
    Highest price Rs.66.49/litrerecorded between 25th, 26th, 27th and 28th Rs.67.47/litre recorded on 28th Rs.68.17/litre recorded on 5th, 6th and 7th
    Lowest price Rs.62.51/litre recorded on 7th, 8thand 9th Rs.65.89/litre recorded on 5th and 6th Rs.66.76/litre recorded on 29th, 30th and 31st
    Trend Upward Upward Downward
    % Change 5.08% 2.07% -1.27%

    Diesel Price Trend in Assam Between October and December 2018

    • Like petrol, diesel prices in the country are revised daily by State-owned oil firms under the ‘Dynamic Fuel Pricing’ mechanism, which considers the 14-day average price of crude oil and the rupee-dollar exchange rate.
    • Based on this pricing system, diesel was priced Rs.78.61 per litre on 1 October in Assam, a record high amid high crude oil prices.
    • Prices continued to rise when diesel touched a record high for the month at Rs.78.96 per litre in Assam.
    • The Centre announced a reduction of Rs.1.50 per litre as excise duty on diesel and petrol, while it asked oil firms to further subsidise Rs.1 per litre.
    • Prices immediately dropped to record the lowest rate of the month when a litre of diesel was sold at Rs.73.81 per litre on 5 October.
    • While diesel rates in Assam rose in the next couple of weeks, it declined by 4.99% during the month attributed the fall in crude oil prices as well as due to the cut in excise duty.
    • On 1 November, petrol was priced Rs.74.69 per litre – the highest recorded price during the month in Assam.
    • Crude oil prices continued to trade high amid geopolitical tensions between the US and China over trade between the two nations.
    • Also, the US pulled out of the Iran Nuclear Deal, which prompted Iran to limit the supply of oil in the market which led to high oil prices.
    • However, by the end of the month, oil prices softened, and diesel prices declined to touch the lowest rate of the month when it was available at Rs.68.31 per litre on 30 November.
    • Overall, diesel prices in Assam fell by 8.55% owing to the sharp drop in crude oil prices in the international market.
    • The diesel rate in Assam on 1 December stood at Rs.67.91 per litre, which was also the highest recorded price of the month.
    • Crude oil prices were trading around $80 per barrel early October; however, it declined significantly late December when it was trading around $56 per barrel.
    • Prices of diesel in Assam declined to touch the lowest on 31 December when it was sold at Rs.63.08 per litre.
    • The diesel price trend in Assam during this month declined by 7.12% attributed to the sharp decline in crude oil prices as well as due to the slight appreciation of the rupee over the US dollar.

    What is the System Followed to Revise the Diesel Price in Assam?

    A few products shall be sold at the similar price for a longer period. With respect to diesel, fuel companies cannot retain the same price. Prior to 16 June 2018, diesel prices in all cities of Assam used to be steady for a period of 15 days. In other words, there used to be two revisions in a month. Since 16 June 2017, Indian fuel companies have been updating diesel rates under dynamic fuel pricing. What does it mean? Dynamic fuel pricing is defined as a fuel pricing system used to revise fuel rates (diesel and petrol rates) taking into account crude oil rates and the INR/USD exchange rate. Under this system, in lieu of revising fuel prices in Assam once a fortnight, fuel companies (Hindustan Petroleum, Indian Oil and Hindustan Petroleum) shall update each day at 06:00 a.m.

    What are the Benefits of Dynamic Fuel Pricing?

    In five cities in India, dynamic fuel pricing was tested for 40 days. Later on, it was considered as a common fuel pricing system for the whole country. Dynamic fuel pricing provides significant benefits to fuel brands and customers who are considered to be the prime industry stakeholders. Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOCL) are allowed to minimise their working capital, which is the net difference between liquid assets and current liabilities. They can also manage cash receipts and cash disbursements effectively. Dynamic fuel pricing makes diesel customers in Assam pay transparently fixed diesel rates.The system instantly transmits even the smallest variation in crude oil rates and the exchange rate to diesel customers in the state.

    Quarterly Diesel Price Trend in Assam between July and September 2018

    July August September
    Opening date price Rs.70.41 per litre Rs.70.99 a litre (As of 2 August) Rs.73.42 a litre
    Closing date price Rs.70.87 a litre Rs.73.42 a litre Rs.77.91 a litre
    Highest price Rs.71.52 a litre Rs.73.42 a litre Rs.77.91 a litre
    Lowest price Rs.70.41 a litre Rs.70.99 a litre Rs.73.42 a litre
    Trend Increasing Increasing Increasing
    % Change +0.65% +3.42% +6.11%

    Diesel Price Trend in July in Assam

    • In all cities in Assam, the price of diesel, a widely used fuel, was fixed according to the mechanism of dynamic fuel pricing in July, the first month of the quarter.
    • Indian Oil, Hindustan Petroleum and Bharat Petroleum, which are the leading players in the Indian fuel segment, shall factor the USD’s conversion rate against the INR and a barrel’s crude oil price when revaluing diesel each day.
    • Diesel prices in Dispur, which is the capital city of Assam, had been consistent in the first four days of the month, travelled upwards between 7 July and 15 July, and moved downwards in the last few days of the month.
    • The commodity was retailed at a maximum price of Rs.71.52 on 16 July 2018 and a minimum price of Rs.70.41 a litre in the capital city of Assam.
    • As of 2 July, the price of the Indian Crude Basket was $75.89 a barrel. It slid to $73.91 per barrel on 31 July 2018. It means there was price drop of almost $2 per barrel of oil.
    • The domestic currency kept depreciating versus the base currency. Thus, diesel price in Dispur and other towns in the state produced a 0.65% rise in July.

    Diesel Rate Trend in Assam in August

    • From 1 August to 31 August, the fuel corporations kept updating the price of the commodity according to the same mechanism.
    • On the 1st, 2nd and 3rd of August, the retail selling price of diesel was raised at all the retail fuel stations across the state of Assam.
    • Like other states in India, diesel rates in Assam also had been consistent, especially during the second week.
    • On the closing day of the month, the fuel was purchased by paying Rs.73.42 per litre. This was the maximum price offered this month.
    • As the price of unrefined oil rebounded and the INR weakened versus the prime currency this month, diesel rates in Assam were up by over 3%. This was a big jump from the stance of fuel consumers.
    • Like July 2018, the central levy was not changed by the Central Government of India. Even the State Government of Assam did not change the state levy, which is also called the VAT.
    • Other aspects involved in the price structure of diesel such as the commission collected by dealers and OMC overheads remained unmodified.

    Diesel Price Trend in Assam in September

    • In September, fuel pricing was done the way it was done in the first two months of the quarter. It cannot be changed as well.
    • On 1 September, a liter’s diesel rate stood at Rs.73.42 in the capital city of Assam. The price was almost the same in Guwahati, Jorhat, Silchar, Nagaon, etc., as of 1 September 2018.
    • It has to be noticed that the price went up by Rs.2 a litre between 1 September and 7 September across the state.
    • It was because of a drastic drop in the exchange rate of the local currency, which is the INR, against the USD, which is the prime currency.
    • In the second, third and fourth weeks of September, fuel rates in Assam were stable and also increased noticeably.
    • The growth rate jumped almost by 200% this month caused only by the external factors. The excise duty and the VAT were not revised just like the previous months.
    • The countrywide bandh, which was summoned by the opposition political parties on the 10th September, did not impact the price revision.
    • Unlike Rajasthan, Karnataka, West Bengal and Andhra Pradesh, the state government of Assam did not decline its tax imposed on diesel. Fuel consumers continued to fight against the Centre.
    • The Centre did not decrease the excise duty on diesel and petrol instantly since it wanted more funds.

    Quarterly Diesel Price Trend in Assam between April and June 2018

    April May June
    April May June
    Opening date price Rs.67.40 a litre Rs.68.83 a litre Rs.72.29 a litre
    Closing date price Rs.68.83 a litre Rs.72.34 a litre Rs.70.33 a litre
    Highest price Rs.68.86 a litre recorded on the 24th Rs.72.41 a litre recorded on the 29th Rs.72.29 a litre recorded on the 1st
    Lowest price Rs.67.40 a litre recorded on the 1st Rs.68.83 a litre recorded on the 1st Rs.70.33 a litre recorded on the 27th
    Trend Upward Upward Downward
    %Change +2.12% +5.09% -2.71%

    Diesel Price Trend in Assam in April 2018

    • The selling price of diesel includes various cost elements such as sales tax, excise duty, the commission paid to dealers, OMC overheads, crude oil prices, etc.
    • Since June 2017, the fuel marketing companies have been revising the prices of both diesel and petrol under a system called dynamic fuel pricing.
    • Like other Indian states, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Indian Oil Corporation Limited reset the petrol rate per litre in the state of Assam under this system.
    • The trend is based on the movements of the crude oil price and the USD/INR exchange rate. In April 2018, diesel rates in Assam kept increasing throughout the month in synch with these two aspects.
    • During the last week of April 2018, the fuel per litre was sold at a price of Rs.68.83 in Dispur, which is the capital city of Assam.
    • If the government revises excise duty, the fuel price is reset accordingly. But, in this month, excise duty was not revised. Even sales tax in the state remained the same.
    • It clearly indicates that the domestic forces had no impact on the revision of diesel prices in Assam. Caused by the slightly increased crude oil cost per barrel, the closing date price increased to Rs.68.83 a litre from Rs.67.40 a litre.

    Diesel Price Trend in Assam in May 2018

    • For this month, the opening date price stood at Rs.68.83 per litre. The same price was extended until the 11th of May 2018 caused by Karnataka state assembly election.
    • Compared to the earlier month, the growth rate in crude oil rates was higher this month. Diesel rates, therefore, started moving upwards.
    • Under dynamic fuel pricing, the fuel rate per litre stood at Rs.69.05 on the 14th. The fuel rate slowly increased to Rs.70.83 a litre on the 21st.
    • For the last week of May 2018, according to Indian Oil Corporation Limited, the average diesel rate per litre was Rs.71.73.
    • The highest fuel rate was registered on 29 May 2018. When revised on 30 May 2018, the fuel price in Assam decreased by 63 paise per litre. The closing date price increased by 56 paise per litre compared to the previous day.
    • In May 2018, the fuel companies reported an increasing trend. It was caused by the cost of unrefined oil per litre, which increased by $6 per barrel this month.
    • Fuel rates in Assam remained unaffected by domestic influencers in this month also.

    Diesel Price Trend in Assam in June 2018

    • On the 1st, the selling price of diesel per litre in the city of Dispur stood at Rs.72.29. In the following day, the price slid to Rs.72.16. On 03 June 2018, the fuel price remained unchanged at Rs.72.16 per litre.
    • By the end of the second, third and fourth weeks of June 2018, diesel rates were Rs.70.82, Rs.70.68 and Rs.70.33 respectively.
    • The fuel was sold at a price of Rs.70.82 a litre on the 13th. The same price was extended by the Indian oil marketing companies on the 14th and the 16th.
    • Similarly, for the last four days of the month, the fuel was retailed at a price of Rs.70.33 per litre in the state.
    • Throughout the quarter, excise duty was charged at Rs.15.33 on diesel per litre and sales tax was levied at 22.71% on diesel per litre.
    • Though the Indian currency slightly depreciated against the currency of the USA, the pricing of diesel across the state remained unaffected by the exchange rate.
    • According to petroleum Planning and Analysis Cell, in overseas markets, the rate of crude oil per barrel fell.
    • Because of this fact, diesel prices in Assam were down by 2.71 in June 2018. The downward trend was also observed in the month of February 2018.

    What are the Ways to Obtain the Current Diesel Price in Assam?

    The latest diesel price in parts of the state can be gotten using any of the following options:

    • Mobile applications such as SmartDrive, Fuel@IOC and My HPCL can be used. SmartDrive is offered by BPCL whereas Fuel@IOC by IOCL. HPCL offers My HPCL.
    • Visit the website of your favorite fuel brand and spot a tab called Pump Locator.
    • Send an SMS request following the prescribed format.

    What is the Procedure Followed to Assess the Diesel Rate in Assam?

    Diesel is priced by fuel enterprises. Diesel price is the sum of the overall amount of expenditures incurred by fuel companies, taxes, dealer commission, crude oil costs and pollution cess. If crude oil costs, taxes and OMC expenses are Rs.21 a litre, 30 a litre and Rs.10 a litre respectively, the cost of a litre of diesel is Rs.61. Taxes include excise, which is collected by the Central Government; and VAT, which is charged by the State Government of Assam. Until June 2018, excise duty was Rs.15.33 a litre and VAT was 22.71% on a litre in Assam. The NAD Government, which was formed in the year 2014, has revised the central tax (excise duty) many times.

    What are the Factors Impacting Diesel Price in Assam?

    Diesel price in Assam is impacted by crude oil expenses, excise duty, the exchange rate, Value-added Tax, production cuts in crude oil-exporting nations, seasonal variations, international politics, demand for crude oil, etc. let’s understand how these elements can impact the pricing of diesel, a widely used fuel across the globe. Current fuel rates in Assam will increase when the USD falls against the local currency. They will also increase if the Central Government increase excise duty. Similarly, fuel prices in Assam will fall if the USD gains against the domestic currency. The same result is expected when oil marketing countries unveil a production cut.

    Does GST Impact The Diesel Price in Assam?

    GST, which stands for Goods and Services Tax, has no impact on diesel rate in the state. It is because of the exclusion of diesel from the GST rule. As we all know, GST was enforced in the year 2017 to subsume various types of indirect levies. The revenues collected by imposing taxes on diesel and petrol make a big difference to the financial health of India. If the government decides to collect GST on petrol and diesel at 28%, diesel price in Assam and other states will dampen by a huge margin. Eventually, it falls short of revenues.

    *Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.

    News about Diesel Price In Assam

    • Diesel price remain unchanged on Sunday

      For the second consecutive day, oil companies kept diesel rates unchanged in the four metropolitan cities of the country. In Delhi, consumers were charged Rs.77.13 for a litre while in Mumbai, Kolkata, and Chennai a litre of diesel cost Rs.83.99, Rs.80.71, and Rs.82.33 respectively. The price of diesel was the highest in the commercial capital among all the metropolitan cities. It needs to be mentioned here that the price of fuel has recorded an upswing since 6 January amid a rally in global crude oil prices.

      In the international market, the futures of Brent crude rose on Friday by 1.24 percent to cost $59.57 per barrel. The rupee gained marginally against the US dollar by 3 paise against the US dollar to settle at 72.93.

      In India, the rates of fuel are dependent on international oil rates on a 15-day average and the value of rupee against the US dollar.

      7 February 2021

    • Petrol Prices Rises by 83 paise and Diesel by 73 paise in the Last 9 Days

      State-owned Oil Marketing Companies (OMCs) began increasing petrol and diesel prices from the time the 2019 Lok Sabha elections came to an end on 19 May 2019. Petrol prices have increased by 83 paise per litre, while diesel prices have gone up by 73 paise per litre in the last nine days. Selling prices of petrol and diesel in the country track the international prices of these fuels and not crude oil prices, although they’re primarily linked to crude oil rate trends. This comes after India is shoring up supply alternatives amid US sanctions on Iran. The US administration pulled out the Iran Nuclear Deal and has imposed sanctions on Iran since then. Also, crude oil prices in the international oil market have inclined significantly since early this year due to a mix of factors such as the supply cuts led by the OPEC and its allies, declining oil production in Venezuela and geopolitical tensions.

      The cost of the Indian basket of crude, an average of Dubai, Oman and Brent crude, which averaged around $56 per barrel and $69 in FY18 and FY19, respectively, increased to an average of $70 in April 2019.

      13 June 2019

    • Petrol and Diesel Rates Reduced on Tuesday

      State-owned Oil Marketing Companies (OMCs) reduced petrol and diesel prices today across all major metro cities of the country. While petrol rates came down by 14-16 paise per litre, diesel prices became cheaper by 10-11 paise per litre. Petrol is being sold at Rs.70.44 per litre and diesel is available at Rs.65.51 per litre in the national capital Delhi, down by 15 and 10 paise, respectively. In Mumbai, petrol is available at Rs.76.08 per litre and diesel at Rs.68.59 per litre, cut by 14 and 11 paise, respectively. In Chennai, petrol is being retailed at Rs.73.11 per litre as against yesterday’s price of 73.27 per litre and diesel is available at Rs.69.20 per litre as against Rs.69.31 per litre. In Kolkata, petrol costs Rs.72.55 per litre and diesel at Rs.67.29 per litre.

      Petrol and diesel prices witnessed a sharp rise for a couple of months until 4 October 2018. While petrol prices rose to touch Rs.84 per litre in Delhi, it passed the Rs.91 per litre mark in Mumbai. Petrol and diesel prices are revised in proportional to the global crude oil prices and the exchange rate of the rupee over the U.S. dollar. Today, U.S. oil prices were up influenced by expectations of a shortage in supply of crude oil in the market amid U.S. curbs on Venezuela and production cuts by the OPEC. Meanwhile, the international benchmark Brent Crude Oil Futures had yet to trade, after it was down by 0.4% in the last session.

      5 February 2019

    • Profit growth of Indian companies take a hit in Q3 due to rising crude oil prices

      As per early fiscal-third-quarter earnings, the profit growth of Indian companies has slowed down due to rising crude oil prices. In the third quarter of 2018-19, the prices of Brent crude fell by 35 per cent while rupee strengthened by 3.9 per cent. As per Pankaj Pandey, head of research at ICICI Securities Limited, the lag impact of lower crude prices would be felt in the next quarter as the buying patterns of companies are different from one another. 

      The earnings of 90 BSE-listed companies showed that the aggregate net profit grew by 7.38 per cent in the December quarter. In the preceding three months i.e., the quarter that ended in September the growth rate was 10.1 per cent. It needs to be mentioned here that the net sales growth, however, rose to an 11-month high of 18.76 per cent from the 18.57 per cent recorded in the September quarter. The operating profit and net profit margins of the 90 BSE-listed companies in the third quarter of the current fiscal year widened to 26.3 and 17.41 per cent respectively. It is noteworthy to mention here that even though the commodity prices softened, and the rupee strengthened in Q3, the impact of it would only be evident in the quarter ending 31 March 2019 as per the analysts. 

      While the profit growth for companies are low, Pandey stated that the earnings reported so far was on expected lines as the firm expected top-line growth of 12 per cent and bottom-line growth of 3 per cent. 

      30 January 2019

    • Fuel Prices Continue to Tumble and Petrol Hits its Lowest since February

      Petrol prices were brought down by state-owned oil companies and continued on the trend of fuel price cuts seen during the last few weeks. In Delhi, petrol prices went down by Rs.71.72 per litre - a Rs.0.21 per litre drop - and went down to its lowest levels since the February of this year. Rates fell in other cities in the country as well with the fuel trading at Rs.74.41 per litre in Mumbai, Rs.74.41 per litre in Chennai, and Rs.73.75 per litre in Kolkata.

      Fuel prices have been on a roller-coaster ride this year, with them trading in the Rs.73 and Rs.74 limit as the year began before stabilising around May and June. This situation changed in August when crude oil prices began to rise. The situation changed through the middle of October as US President Donald Trump waived off some nations allowing them to trade with Iran. Around October, petrol prices had surged up to Rs.84 per litre in Delhi with the same in Mumbai were close to Rs.90 per litre while Thane saw petrol rates go beyond the Rs.90 per litre mark.

      6 December 2018

    • Diesel Prices Go Further Down, Reach Rs.72.31 per litre in Delhi

      Diesel prices have been on the decline for the last month or so and Monday, the 12th of November turned out to be no different. In the national capital, diesel prices were holding at Rs.72.31 per litre - a Rs.0.15 per litre drop, while in Mumbai it fell by Rs.0.16 per litre to trade at Rs.75.76 per litre.

      Fuel prices had hit their highest ever point in the country around the first week of October as crude oil prices had been rising consistently as the US sanctions were supposed to take effect. However, as oil reserves increased and as the Indian rupee mounted on a recovery, crude oil prices dropped.

      The recent fuel price declines have been a major relief for commuters around the country as it has brought down concerns regarding inflation down.

      14 November 2018

    • Diesel is Costlier Than Petrol in this State

      State-run oil companies revised fuel prices across the country based on the dynamic fuel pricing mechanism. With the revision, diesel prices breached petrol prices in Odisha. Diesel prices increased by 12 paise per litre more than that of petrol in Bhubaneshwar with diesel available at Rs.80.69 per litre, while petrol costs Rs.80.57 a litre. This is the first time diesel prices have crossed the price of petrol in Odisha. Since Odisha charges a uniform 26% VAT on both petrol and diesel as against other states where tax rates are different for both. The Centre levies excise duty while states charge local sales tax or VAT on both petrol and diesel. Prices of both the fuel have been on the rise since the last two, even touching a four-year high in September. The rise in fuel rates is being attributed to the increase in the price of crude oil in the international market and the significant decline in the exchange rate of rupee over the U.S. dollar. Oil companies include the global crude oil price and the exchange rate of rupee before fixing the retail price of petrol or diesel.

      24 October 2018

    • Diesel Prices Will Soon Hit the Century Mark, Complain Congress

      Congress, the opposing party in the Indian Parliament recently directed a taunt at the Indian government wherein it said that diesel prices will hit the century mark very soon. Fuel prices have been rising consistently for the last few weeks on the account on increasing crude prices and a falling rupee.

      Spokesperson to Congress, Abhishek Singhvi, spoke to the media and said that crude prices were at $130 per barrel during the UPA rule, fuel prices were still low. However, when crude oil prices are half of what it was, fuel prices been hitting all time-highs in the country, Singhvi said. He also spoke about Rajya Sabha member Ramdas Athawale and his remarks saying it was cruel and insensitive to the people of the country.

      He said that diesel prices are very close to hitting the century mark and further cited the highest petrol rate in two districts of Maharashtra, Rs.91 and Rs.92, he said that this is happening when crude prices are at $68 per barrel.

      3 October 2018

    • India Shouldn’t Take Knee-jerk Reaction to Fuel Price Hike

      Fuel prices have been rising consistently over the last two weeks with petrol and diesel rates hitting their highest ever rates and are soaring on a daily basis.

      The government is also been pressured by opposition parties led by Congress to lower the taxes on fuel and also bring it under the ambit of the GST.

      However, Dharmendra Pradhan, Petroleum Minister, has something else to say. He says that the country shouldn’t take knee-jerk reaction, especially against something that is as volatile as crude oil prices. He further stated that the rising US dollar, and the lack of promise fulfillment from the OPEC nations and the ongoing crisis in Turkey, Iran, and Venezuela as the reason behind the hikes.

      Speaking at MOVE, a global mobility summit, Pradhan said that India is a stable and the fastest growing major economy and hence it should refrain from taking knee-jerk reaction against fuel price hike. This comes on the back of report that a Rs.2 decrease in taxes would cost the government Rs.28,000 to Rs.30,000 crore loss in revenue.

      12 September 2018

    • Petrol and Diesel Prices Hiked Across Metro Cities Today

      State-owned oil companies hiked petrol and diesel prices across metro cities on 2 August 2018 which is effective from 6:00 am IST. While petrol prices were increased by 12 paise, 13 paise, 11 paise and 13 paise in New Delhi, Kolkata, Mumbai and Chennai respectively, diesel prices were hiked by 11 paise per litre in New Delhi, Kolkata and Mumbai, and in Chennai, the diesel price was increased by 12 paise a litre. Petrol is being retailed at Rs.76.43 per litre in New Delhi, while in Kolkata, Mumbai and Chennai, petrol is available at Rs.79.33, Rs.83.87 and Rs.79.39 respectively. Diesel prices, on the other hand, is being sold at Rs.67.93 per litre in New Delhi, Rs.70.69 in Kolkata, Rs.72.12 in Mumbai and Rs.71.74 in Chennai. After oil prices witnessed losses over the last two days it stabilized. With trade friction between the US and China reducing, the global crude oil prices have declined marginally. India revises fuel prices on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism by taking into account the international crude oil price and the currency exchange value.

      3 August 2018

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