Diesel Price In Bhubaneswar Today

  • Today's Diesel Price ( 17 Oct 2021 )

    ₹ 102.34
    Current Diesel Price Per Liter

    Compare Diesel Price in Bhubaneswar (Today & Yesterday)

    Rate Change
    Diesel ( / liter) ₹ 102.34 ₹ 102.34 ₹ 0 ↑

    Diesel Price in Bhubaneswar - Last 10 Days Data

    Date Diesel ( / liter)
    16 Oct 2021 ₹ 102.34
    15 Oct 2021 ₹ 102.34
    14 Oct 2021 ₹ 101.96
    13 Oct 2021 ₹ 101.58
    12 Oct 2021 ₹ 101.58
    11 Oct 2021 ₹ 101.58
    10 Oct 2021 ₹ 101.19
    09 Oct 2021 ₹ 100.81
    08 Oct 2021 ₹ 100.43
    07 Oct 2021 ₹ 100.04

    Diesel Rate Trend

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    Diesel Prices in Bhubaneswar

    Bhubaneswar is the capital city of Odisha. It is the largest city in the state. With a growing number of diesel-run vehicles and industrial units, the consumption of diesel is increasing year by year in Odisha. Crude oil is the basic raw material to produce diesel. The indigenous production of crude oil in India is not sufficient to meet the oil requirements of the country. This is the reason why the cost of diesel is growing in all parts of the nation including Bhubaneswar.

    Also Know: Diesel Price in Odisha

    Trends in Diesel Price in Bhubaneswar

    On the opening day of September 2017, the cost of diesel was Rs.61.25. On the closing day of the month, it was Rs.63.12. The lowest price in the month was Rs.61.25 and the highest price was Rs.63.17. On the first day of August 2017, the petrol price in the city was Rs.59.80 that was later increased to Rs.61.39 on the last day of August 2017. The highest and lowest rates in the month were Rs.61.75 and Rs.59.80 respectively.

    Similarly, In July 2017, the lowest and highest prices in the city were Rs.57.51 and Rs.59.86 respectively. On the first day of the month, the cost of diesel was Rs.57.51. On the last day of the month, it was Rs.59.86. In June 2017, the highest rate was Rs.58.69 and the lowest rate was Rs.58.14. On the closing day of the month, the diesel price in the city was Rs.58.14. On the first day of the month, it was Rs.58.69.

    Diesel prices in Bhubaneswar have increased by 2.96% in September 2017 and by 2.59% in August 2017. Likewise, they were up by 3.93% in July 2017. In June 2017, diesel prices in the city have decreased by 0.95% due to the effect of dynamic fuel pricing that was implemented on 16 June 2017. Between 1 January 2017 and 17 October 2017, the highest diesel rate offered in the city was Rs.63.17.

    Diesel Price in Bhubaneswar and Other Major Cities of India

    Let’s consider the four major cities of India in order to make a comparative study of diesel rates. Between 7 October 2017 and 16 October 2017, the average price of diesel offered in Bhubaneswar was Rs.61.08. Between the same period, the average prices offered in New Delhi, Mumbai, Kolkata, and Chennai were Rs.56.97, Rs.59.92, Rs.59.64, and Rs.59.98 respectively. Among all cities, the highest rate was offered in Mumbai and the lowest price was offered in New Delhi.

    What is the Frequency of Revising Diesel Prices in Bhubaneswar?

    All state-owned diesel bunks in Bhubaneswar have been revising diesel prices on a daily basis since 16 June 2017. The diesel price will differ from day to day under the new fuel pricing model called dynamic fuel pricing. Other developed countries such as the United States of America and Australia have also been following the same model to determine the price of diesel. Dynamic fuel pricing model ensures transparency in fuel pricing and enables diesel distributors to follow the best stock management principles.

    The consumption of diesel is more compared to petrol in any part of the world. So, it is extremely important to track the latest price of diesel especially for institutional customers. Even the smallest variation can make a big difference to the billing amount. The current price of diesel in Bhubaneswar can be checked online by visiting the websites of Indian Oil, Shell Oil, Hindustan Petroleum, and Bharat Petroleum. The best way is to download the mobile applications of these oil marketing companies to get the revised price of diesel in the city.

    How are Diesel Prices in Bhubaneswar Assessed?

    The following formula is used to compute the retail selling price of diesel in Bhubaneswar:

    Retail selling price = cost of crude oil + fuel cost after refining + price charged to dealer before VAT+ fuel cost before VAT

    • The cost of crude is the cost incurred by oil marketing companies to buy crude oil from foreign oil companies. It also includes ocean freights.
    • Fuel cost after refining includes the profit margin of oil marketing companies, freight, transportation costs, refinery processing, entry taxes, and landing costs.
    • Price charged to dealers before VAT is the sum of fuel cost after refining and the excise duty imposed by the central government.
    • Fuel cost before VAT is the sum of the price charged to dealers and the commission charged by pump dealers.
    • Retail selling price is the sum of fuel cost before VAT, pollution cess, and the tax imposed by the state government.

    Factors impacting Diesel Prices in Bhubaneswar

    • Cost of Crude il: Crude oil is an international commodity. If the cost of crude oil increases internationally, the retail price of diesel will increase. Similarly, if the cost of crude oil decreases globally, the retail selling price of diesel will decrease. The cost of crude oil is reliant on seasonal variations, fluctuations in the currency exchange rate, overseas supplies and reserves, and political events in oil-producing companies.
    • Exchange Rate: An exchange rate is the rate at which one currency will be exchanged for another. The Reserve Bank of India monitors the USD/INR pair. The bank determines the value of the USD against the INR. If the value of the USD falls against the INR, the cost of crude oil will decrease. If the USD gains against the INR, the cost of crude oil increase.
    • Central Excise and VAT: Petrol is taxed by the state and central governments. The tax imposed on petrol by the central government will remain the same across the state, but the tax imposed on petrol by the state government will fluctuate from state to state. If the central excise duty increases, the cost of diesel will increase. Similarly, if the central excise duty decreases, the cost of diesel will decrease.

    This is how all the aforementioned factors will impact diesel prices in Bhubaneswar.

    Impact of GST on Diesel prices in Bhubaneswar

    All petroleum products do not fall under the GST regime. GST is a unified tax platform for all categories of taxpayers in India. It is applicable to all types of goods and services that are transacted across the country. Since diesel does not fall under the regime of GST currently, diesel prices in Bhubaneswar will remain unaffected. Under the GST framework, all types of goods and services are taxed under four slabs, which include 5%, 12%, 18%, and 28%. Even though diesel is taxed at 28%, diesel prices in Bhubaneswar will be cheaper.

    Petrol and Diesel Prices in Bhubaneswar

    The average price of diesel was Rs.61.01 and the average price of petrol was Rs.67.30 as on the latest date.

    Also Check: Diesel Price in Odisha

    Also Check Diesel Price in NearBy Cities of Bhubaneswar

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    *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 Bhubaneswar

    • Fuel Prices are Likely to Incline by end of May

      The US administration has ended the waiver to nations like India and China to stop importing oil from Iran from 2 May 2019. India depends on import of crude for its requirement and much of it came from Iran. During the financial period of 2018-19, India consumed more than 82% of imported crude oil, while it was nearly 80% during 2015-16 fiscal. This suggests that the increase in dependence over the period of three years. India imported more than 200 million tonnes (mt) during 2015-16 period, this has jumped to more than 220 mt in 2018-19. Apart from an increase in quantity of oil imported, the higher rates also contributed to the rise in the overall oil import bill. In the year 2018, Iran’s oil export in the global market was about 4%, with Iran unable to export any more oil, a 4% decline in supply of crude in the market is bound to increase the price of oil. Currently, crude oil is trading around $70 per barrel compared to about $50 per barrel early this year. At these prices, petrol and diesel prices were about Rs.78 and Rs.70 per litre, respectively, in August 2018; however, petrol and diesel prices are currently around Rs.73 and Rs.66 per litre, respectively. This is because oil companies have not increased fuel prices due to the ongoing elections.

      9 May 2019

    • Global Crude Oil Prices Near 2019 Highs

      Global crude oil prices were near 2019 highs early today, supported by OPEC-led supply cuts. US curbs on Venezuela and Iran are also prompting oil prices to incline, although traders feel the market looks capped by rising American crude oil production. US West Texas Intermediate (WTI) futures were trading at $59.05 per barrel, down by 4 cents and close to 2019 high of $59.23 per barrel. Benchmark Brent crude oil futures were trading at $67.48 per barrel, down by 6 cents and close to this year’s high of $68.14 per barrel. The OPEC today scrapped its planned meeting in April, effectively extending supply cuts until at least June. The OPEC and its allies including Russia began withholding supply to stop a sharp price decline in the second half of 2018. US crude output has inclined significantly by more than 2 million barrels a day (bpd) since early 2018, to about 12 million bpd. This makes America world’s biggest producer of crude oil ahead of Russia and Saudi Arabia. As for the demand, there’s a concern that a global economic slowdown coupled with improving energy efficiency and the emergence of alternative fuels will reduce fuel consumption.

      19 March 2019

    • Fuel Station Dispensers Getting Upgraded for Three-Digit Rates Display

      Amid the relentless rise of fuel prices in the country, fuel dispensers across the nation are being upgraded so that they could display the correct price when it touches Rs.100 per litre. This is an unprecedented situation in the country although the oil companies don’t expect the rates to reach the three-digit figure mark in the near future.

      On Monday, petrol price rose to Rs.90.22 a litre and diesel to Rs.78.69 a litre in Mumbai. In Delhi, it’s Rs.82.86 and Rs 74.12 a litre for petrol and diesel respectively. Adding to the worries, on Tuesday, crude oil price nearly touched $82 a barrel and is expected to rise further high. Consequently, the domestic fuel prices are also very likely to soar.

      Albeit the new dispensers don’t require any upgrade, a few of the old ones are not capable of displaying three-digit figures. However, despite the steep rise in prices and the apparent inability of a few dispensers to display three-digit rates, fuel station dealers are confident that the fuel supplies to consumers would remain unhindered.

      1 October 2018

    • PIL Filed Against Petrol Price Hikes at the Delhi High Court

      It has been common news that fuel prices have been on the rise for the last two weeks with the highest ever rates recorded in all of India.

      The extent of lives affected by this have also been well documented, with farmers and the common folks facing the brunt of the steadily rising prices.

      In a latest report, a Public Interest Litigation (PIL) has apparently been filed at the High Court in Delhi citing the removal of price increase rights from oil manufacturing companies (OMCs).

      Pooja Mahajan, a Delhi-based designer is a person behind the petition, which she did through her lawyer A Maitri. This PIL is expected to be have a hearing on Wednesday and it is still awaited as to what the outcome could be.

      Mahajan put up a compelling argument stating the Essential Commodities Act and suggested that the central government should do more when prices go up so high and keeps on soaring for days on end.

      She further said that the government has given the power to the OMCs rather than working on a fair methodology to fix fuel prices. The OMCs, she said, is using this power to negatively impact the lives of a billion people while maintaining their profit margins.

      17 September 2018

    • Reduction in Diesel Prices Less Than Half the Rate of Rise Recorded Previously

      Diesel prices in India have been slipping in the last 13 days after it had reached its peak levels for thirteen straight days in May 2018. The reduction in diesel prices has been slow for the customer as the fall in price is at 2% compared to the rise percentage of 5% in the earlier fortnight. Prices of diesel have been declining from 30 May reflecting a slip of 2% in Delhi. However, when compared to the rise, which stood at 5%. Diesel prices stood at Rs.67.95 a litre in Delhi. Price for a litre of diesel has fallen by Rs.1.36 in Delhi and in Kolkata. In the financial capital of Mumbai, diesel prices recorded its highest in May; however, the reduction in this month has been slow.

      12 June 2018

    • Diesel Rates Fell Slightly

      Diesel prices fell steadily for the last two days after 16 continuous rises. Indian Oil, a premier fuel marketing company, has stated that diesel prices has been low by 5 paise per litre in Chennai, Mumbai, Kolkata and Delhi. On Wednesday, diesel rate was lowered by 1 paise per litre across metro cities. After the daily revision at 06:00 a.m., diesel prices were Rs.69.25 per litre, Rs.71.80 per litre, Rs.73.73 per litre, and Rs.73.12 per litre in Delhi, Kolkata, Mumbai and Chennai respectively.

      So far this month, diesel prices have increased by Rs.3.72 per litre, Rs.3.66 per litre, Rs.3.68 per litre and Rs.3.92 per litre in Delhi, Kolkata, Mumbai and Chennai respectively. Over the last fortnight, because of a weakened dollar and increased crude oil costs, diesel prices were up by Rs.3.99 per litre in the metro cities. Fuel prices will change from state to state because of variations in Value-added Tax.

      31 May 2018

    • Indian Oil Ministry Gives In-Principle Approval For Diesel Futures

      Fuel prices are on the rise for the 16th consecutive day amidst increasing cost of crude oil in the international market and the appreciation of the US dollar. To tackle the situation, the Indian Commodity Exchange (ICEX) has received ‘no objection’ from the Indian Oil Ministry to launch the diesel futures in the country. Union Oil Minister has given in-principle approval to ICEX to launch diesel futures. Mr Sanjit Prasad, MD, ICEX said that they have received the go-ahead from the oil ministry. However, they are yet to receive the nod from Stock Exchange Board of India (Sebi) to give the clearance to launch the market. Once Sebi gives the nod, ICEX is ready to launch the diesel futures in a day, said Mr Prasad.

      29 May 2018

    • Diesel Rates to keenly observe – says Oil Minister

      Growing diesel rates are keenly observed by the government, says Oil Minister. But, he has not commented on dampening the central tax levied on fuels. The price of diesel reached the highest price in Delhi, the national capital. The fuel was sold at Rs.62.25 a litre. In Mumbai, the fuel was sold at Rs.66.30 a litre. The city is not affordable for fuel buyers owing to higher VAT rates.

      The Oil Minister said the government cut the excise duty by Rs.2 per litre in October 2017, reacting questions related to climbing fuel rates. State governments were urged to cut the VAT on diesel rates. Some states followed the instruction and other states are yet to reduce the state VAT, he added. The Oil Minister further said growing diesel prices are keenly observed by the government. The central tax was cut once by the present BJP-led government. Last year, the central tax was reduced by Rs.2 per litre when the price of diesel was Rs.59.14 a litre.

      22 January 2018

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