Diesel Price In Chennai Today

  • Today's Diesel Price in Chennai( 31 May 2020 )

    ₹ 68.2
    Current Diesel Price Per Liter

    Compare Diesel Price in Chennai (Today & Yesterday)

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    Diesel ( / litre) ₹ 68.2 ₹ 68.2 ₹ 0 ↑

    Diesel Price in Chennai - Last 10 Days Data

    Date Diesel ( / litre)
    31 May 2020 ₹ 68.2
    30 May 2020 ₹ 68.2
    29 May 2020 ₹ 68.2
    28 May 2020 ₹ 68.2
    27 May 2020 ₹ 68.2
    26 May 2020 ₹ 68.2
    25 May 2020 ₹ 68.2
    24 May 2020 ₹ 68.23
    23 May 2020 ₹ 68.22
    22 May 2020 ₹ 68.22

    Diesel Rate Trend in Chennai

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    The Price of diesel in Chennai used to be revised every two weeks or 15 days; however, under the new ‘Dynamic Fuel Pricing’ mechanism, diesel prices in chennai are revised every day. With prices changing every day, it’s important to check the Chennai diesel price as any decline in cost could save you money.

    Diesel Price in Chennai

    Chennai is the capital city of Tamil Nadu, known for its educational institutes, economic and cultural centres. Chennai is a rapidly growing city and is one of the most populous urban cities in India. Fuel prices in Chennai are revised daily by State-owned Oil Marketing Companies (OMCs), which is aligned with the international crude oil price. This means the diesel price in Chennai will either increase or decrease when the global crude oil price either increases or decreases, also, the exchange rate of rupee-dollar.

    Oil companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum fix the diesel price in Chennai proportional with any changes in crude oil rates in the global market.

    Trend of Diesel Price in Chennai for May 2020 (Rates per litre:

    Parameters Rates/litre
    1st May Rs.65.69
    21st May Rs.68.33
    Highest Rate in May Rs.68.33
    Lowest Rate in May Rs.65.69
    Overall Performance Incline
    Percentage Change 4.01%

    May – Week 1 (1 - 7):

    • Diesel price in Chennai stood at Rs.65.69 per litre on the 1st of May, unchanged from its previous day’s closing price.
    • Diesel prices jumped to Rs.68.20 per litre after the Indian Government increased excise duty on petrol by a record Rs 10 per litre, and on diesel by Rs 13 per litre.
    • The overall performance of diesel in Chennai was 3.82%, trending upwards.

    May – Week 2 (8 - 14):

    • Diesel price in Chennai stood at Rs.68.20 per litre on the 8st of May, unchanged from its previous day’s closing price.
    • Diesel prices stayed stable and closed the week at Rs.68.20 per litre even after the Indian Government increased excise duty on petrol by a record Rs 10 per litre, and on diesel by Rs 13 per litre.
    • The overall performance of diesel in Chennai was 3.82%.

    May?– Week?3?(15?-?21):

    • Diesel?price in?Chennai?stood at Rs.68.20?per litre on the?15th?of May, unchanged from its previous day’s closing price.
    • Diesel?stayed stable for the next few days?but jumped a bit, closing the week at Rs.68.33?per litre. Earlier, the Indian Government had?increased excise duty on petrol?by a record Rs 10 per litre, and on diesel by Rs 13 per litre.
    • The overall performance of?diesel?in?Chennai?was?4.01%, with a predictably stable month ahead.

    Trend of Diesel Price in Chennai for April 2020 (Rates per litre):

    Parameters Rates/litre
    1st April Rs.65.69
    21st April Rs.65.69
    Highest Rate in April Rs.65.69
    Lowest Rate in April Rs.65.69
    Overall Performance Stable
    Percentage Change -

    April – Week 2 (8 - 14):

    • Diesel price in Chennai stood at Rs.65.69 per litre on the 8th of April, unchanged from its previous day’s closing price.
    • Diesel stayed stable for the next few days, closing the week at Rs.65.69 per litre as the state-run oil marketing companies decided against cutting rates. In the international oil market, oil prices fluctuated due to the coronavirus pandemic, diminishing demand for the oil.
    • The overall performance of diesel in Chennaiwas stable.

    April – Week 3 (15 -21):

    • Diesel price in Chennai stood at Rs. Rs.65.69 per litre on the 15th of April, unchanged from its previous day’s closing price.
    • Diesel stayed stable for the next few days, closing the week at Rs.65.69 per litre. In the international oil market, oil prices crashed two-decade low due to the COVID-19 pandemic, thereby sending ripples across countries.
    • The overall performance of diesel was stable.

    April– Week 4 (22 - 28):

    • Diesel price in Chennai stood at Rs.65.69 per litre on the 22nd of April, unchanged from its previous day’s closing price.
    • Diesel stayed stable for the next few days, closing the week at Rs.65.69 per litre as the state-run oil marketing companies decided to keep the prices stagnant. In the international oil market, oil prices crashed a two-decade low due to the COVID-19 pandemic, thereby sending ripples across countries.
    • Diesel prices didn’t undergo any change in Chennai for the month of April.

    Trend of Diesel Price in Chennai for March 2020 (Rates per litre):

    Parameters Rates/litre
    1st March Rs.67.84
    31st March Rs.65.69
    Highest Rate in March Rs.67.84
    Lowest Rate in March Rs.65.69
    Overall Performance Decline
    Percentage Change -2.87%

    March – Week 1 (1 – 7):

    • In Chennai, diesel opened at the rate of Rs.67.84 per litre for the first week of March 2020. There was a drop of 24 paise for every litre when compared to the closing price of the previous week. This was the highest recorded rate of the fuel in Chennai for March.
    • Over the week, diesel prices dropped further owing to the drop in the price of international oil prices. The drop was mostly affected by the growing concerns about the spread of coronavirus around the world. The Indian Rupee (INR) also took a hit and dropped against the US Dollar (USD).
    • For the first week of March 2020, diesel closed at the rate of Rs.67.19 per litre. This was the lowest recorded price for the month till date. In Chennai, the overall performance of diesel showed a decline of -0.96% in the prices.

    March – Week 2 (8 - 14):

    • Diesel prices in Chennai stood at Rs.67 per litre at the start of the second week of March. There was a decline of 19 paise in the rates when compared to the closing price of the previous week. The sharp decline in the prices was accounted to Brent crude recording its biggest daily percentage fall since December 2008 on Friday as the rates fell by nearly 9 percent.
    • Over the week, diesel prices were on a declining curve in the metropolitan city as international oil prices slipped due to the outbreak of coronavirus and the price war between Saudi Arabia and Russia.
    • In Chennai, diesel closed the week at Rs.65.69 per litre, the lowest recorded price for the month till date. The overall performance of diesel showed a decline of 3.16% in the prices.

    March – Week 3 (15 - 21):

    • Diesel in Chennai stood at Rs.66.17 per litre on the 15th of March. Prices kept slumping on the next few days.
    • Diesel closed the week at Rs.65.69 per litre. In the international oil market, oil prices fluctuated due to the coronavirus pandemic.
    • The overall performance of diesel in Chennai was -3.16%, trending downwards.

    March – Week 4 (22 - 31):

    • Diesel price in Chennai stood at Rs.65.69 per litre on the 22nd of March, unchanged from its previous day’s closing price.
    • Diesel closed the week at Rs.65.69 per litre after state-run oil marketing companies decided not to lower the price further. In the international oil market, oil prices fluctuated due to the coronavirus pandemic, diminishing the demand of the oil.
    • The overall performance of diesel in Bangalore was -2.87%, trending downwards.

    Trend of Diesel Price in Chennai for February 2020 (Rates per litre):

    Parameters Rates/litre
    1st February Rs.69.94
    29th February Rs.68.08
    Highest Rate in February Rs.69.94
    Lowest Rate in February Rs.68.08
    Overall Performance Decline
    Percentage Change -2.65%

    February – Week 1 (1 – 7):

    • Diesel price in Chennai stood at Rs.69.94 per litre on the 1st of February, unchanged from its previous day’s closing price. In the international oil market, there’s been a squeeze on oil demand owing to China’s fast spreading coronavirus.
    • The state-run oil marketing companies decided to cut diesel rates further. Diesel closed the week at Rs.69.33 per litre.
    • The overall performance of diesel in Chennai was -0.87%, trending downwards.

    February – Week 2 (8 - 14):

    • Diesel price in Chennai stood at Rs.69.04 per litre on the 8th of February, marking a drop compared to its previous day’s closing price.
    • In the next few days, the state-run oil marketing companies decided to cut diesel rates further. Diesel closed the week at Rs.68.36 per litre, its lowest recorded price for the month.
    • The overall performance of diesel in Chennai was -2.25%, trending downwards.

    February – Week 3 (15 - 21):

    • A litre of diesel was retailed for Rs.68.36 in Chennai at the start of the third week of February. Compared to the closing price of the previous week, there was no change in the prices.
    • After staying constant for a couple of days, the rates slipped by 5 paise for every litre in the metropolitan city. The drop in the prices saw the rates of diesel slip to its lowest for the month in Chennai.
    • Diesel closed the penultimate week of the month at Rs.68.23 per litre as the rates remained constant since February 18. The overall performance of the fuel witnessed a declining trend of 2.44% in the metropolitan city.

    February – Week 4 (22 - 29):

    • Diesel price in Chennai stood at Rs.68.23 per litre on the 22nd of February, unchanged from the previous day’s closing price.
    • Diesel prices increased a bit for the next couple of days before the oil dropping a bit to close the month at Rs.68.08 per litre, its lowest recorded price for the month of February.
    • The overall performance of diesel in Chennai was -2.65%, trending downwards.

    Trend of Diesel Price in Chennai for January 2020 (Rates per litre):

    Parameters Rates/litre
    1st January Rs.71.84
    31st January Rs.70.06
    Highest Rate in January Rs.73.16
    Lowest Rate in January Rs.70.06
    Overall Performance Decline
    Percentage Change -2.47%

    January – Week 1 (1 – 7):

    • In Chennai, the price of diesel opened at the rate of Rs.71.84 per litre for the first week of January 2020. The price of the fuel opened at the same rate at which it closed on the previous day, i.e. on the 31st of December 2019.
    • The price of Brent crude witnessed a steady hike of as much as 4% following the killing of one of the top military commanders of Iran by the US. Brent crude was being traded at the rate of Rs.4,514 per barrel in the international market. This might also result in the disrupted supply of oil in the market worldwide.
    • The price of the fuel came to a close standing at the rate of the Rs.72.73 per litre for the first week of January 2020 in Chennai. This was the highest recorded price of the fuel during the week. An overall increase of 1.24% was witnessed in the performance of the fuel.

    January – Week 2 (8-14):

    • Diesel price opened the second week of January at Rs.72.73 per litre in Chennai. Compared to the previous week’s closing price, the rates didn’t see any change.
    • The rates increased gradually over the next three days and recorded the highest for the month till date on 11 January with every litre costing Rs.73.16 in the southern metropolitan city. The increase in the prices was accounted to the turmoil in global markets due to the US-Iran standoff.
    • In Chennai, the fuel closed the week at Rs.73.04 per litre as the tensions between the United States and Iran eased. Diesel’s overall performance in the city showed an incline of 1.67%.

    January – Week 3 (15-21):

    • Diesel price in Chennai stood at Rs.73.04 per litre, unchanged from its previous day’s closing price. However, prices dropped on the following days after the state-run oil marketing companies decided to slash rates.
    • Diesel stood at Rs.72.39 per litre on the 19th of January, marking a gradual drop from its opening day’s price.
    • Diesel closed the week at Rs.71.96 per litre. The overall performance of diesel in Chennai for the month of January was 0.16%, trending downwards.
    \

    January – Week 4 (22-28):

    • Diesel price in Chennai opened the fourth week of January at Rs.71.96 per litre. The rates remained unchanged from the previous week’s closing price.
    • The rates of diesel dropped considerably over the week in the southern metropolitan city. The drop in the prices was accounted to growing concerns that demand for global oil will take a hit because of the impact of coronavirus on Chinese economy.
    • Diesel rates closed the week at Rs.70.38 per litre after declining by Rs.1.58 since the start of the week. The closing price was also the lowest recorded price for the month till date in the city. Diesel’s overall performance showed a decline of -2.03%.

    January – Week 5 (29-31):

    • Diesel price in Chennai stood at Rs.70.38 per litre on the 29th of January, unchanged from its previous day’s closing price. Prices fluctuated in the international market owing to coronavirus and its effect on the Chinese economy.
    • Diesel closed the month at Rs.70.06 per litre, its lowest recorded prices for the month of January.
    • The overall performance of diesel in Delhi was -2.47%, trending downwards.

    Trend of Diesel Price in Chennai for December 2019 (Rates per litre)

    Parameters Rates/litre
    1st December Rs.69.47
    29th December Rs.71.46
    Highest Rate in December Rs.71.46
    Lowest Rate in December Rs.69.47
    Overall Performance Incline
    Percentage Change 2.86%

    December – Week 1 (1 – 7):

    • Diesel price in Chennai stood at Rs.69.47 per litre on the 1st of December, unchanged from previous day’s closing price.
    • Diesel remained stable for the next few days at Rs.69.47 per litre.
    • Prices increased on the 7th of December, with diesel closing at Rs.69.56 per litre, a 9 paise hike from the previous day’s closing price. Overall performance of diesel in Chennai was 0.12%, trending upwards.

    December – Week 2 (8--14):

    • Diesel price in Chennai stood at Rs.69.66 per litre on the 8th of December, 10 paise higher than its previous day’s closing price.
    • Diesel prices further increased before stabilising at Rs.69.79 per litre, its highest recorded price for the month till now.
    • Diesel rate closed the week at Rs.69.79 per litre. Overall performance of diesel in Chennai was 0.46%, trending upwards.

    December – Week 3 (15 - 21):

    • Diesel started the third week of December at Rs.69.79 per litre in Chennai. The rates charged for a litre remained unchanged from the previous week’s closing price.
    • The prices started to climb in the southern metropolitan city towards the end of the week after staying constant until 18 December. The increase in the prices was accounted to increased demand for the fuel.
    • In Chennai, the rates closed the week at Rs.70.32 per litre. This was the highest recorded price for the fuel in the city. The overall performance of diesel was 0.75%, trending upwards.

    December – Week 4 (22 - 29):

    • Diesel price in chennai started the fourth week of December at Rs.70.54 per litre. The rates saw an increase of 22 paise when compared to the previous week’s closing price.
    • The rates stabilised at Rs.70.80 per litre until 26 December as Oil Marketing Companies (OMCs) pinned their hopes on the trade deal being signed soon between the United States and China.
    • Growing hopes of a breakthrough in the trade tensions amid the efforts of OPEC to cut supply meant that the prices climbed in the latter half of the week. The rates closed the week at Rs.71.46 per litre with the overall performance being 2.86%, trending upwards.

    Trend of Diesel Price in Chennai for November 2019 (Rates per litre)

    Parameters Rates/litre
    1st November Rs.69.49
    30th November Rs.69.47
    Highest Rate in November Rs.69.61
    Lowest Rate in November Rs.69.42
    Overall Performance Decline
    Percentage Change -0.028%

    November – Week 1 (1 – 7):

    • In Chennai, the price of diesel opened at Rs.69.49 per litre for the month of November. The rate recorded on the previous day, i.e. on the 31st of October, was Rs.69.60. This denotes a drop of 11 paise per litre in the price of the fuel.
    • The price of crude oil was overall relaxed in the international market due to the upcoming European and US economic data. The market also witnessed a downward curve in the demand for fuel and energy owing to the Washington-Beijing trade war. The price of Brent crude oil was being traded at $55.94 per barrel. There was a dip of 26 cents in the price of Brent crude oil.
    • The closing rate of petrol in Chennai was Rs.69.44 which is by far the lowest recorded rate for the month of November. There was an overall drop in the performance of the fuel of -0.07%.

    November – Week 2 (8 – 14):

    • Diesel price in Chennai stood at Rs.69.54 per litre on the 8th of November, 10 paise higher than the previous day’s closing price. Diesel further increased on the next day, reaching its peak at Rs.69.61 per litre.
    • However, after the steep rise, diesel prices fell, closing the week at Rs.69.48 per lite.
    • The overall performance of diesel in Chennai was -0.01%, trending downwards. Meanwhile, in the international oil market, fuel prices improved as data showed signs of improvement in US and China economies.

    November – Week 3 (15 – 21):

    • Diesel price in Chennai stood at Rs.69.48 per litre on the 15th of November, unchanged from previous day’s closing price. Diesel remained stable for the next few days till the 19th of November.
    • Diesel in Chennai closed at Rs.69.54 per litre on the 21st of November, marking a slight incline.
    • The overall performance of diesel in Bangalore was 0.07%. Meanwhile, in the international oil market, fuel prices improved as data showed signs of improvement in US and China economies.

    November – Week 4 (22 – 30):

    • Diesel price in Chennai stood at Rs.69.54 per litre on the 22nd of November. The rates remained unchanged from what was charged the previous day in the southern metropolitan city.
    • The rates dropped on 24th November even though international oil prices were on the upward curve and remained constant for major part of the week.
    • The prices increased by 5 paise on 29th November to cost Rs.69.47 per litre. The rates closed the month at the same price in Chennai. Diesel’s overall performance in Chennai was -0.028%, trending downwards.

    Trend of Diesel Price in Chennai for October 2019 (rates per litre)

    Parameters Rates/litre
    1st October Rs.71.36
    28th October Rs.69.71
    Highest Rate in October Rs.71.36
    Lowest Rate in October Rs.69.71
    Overall Performance Decline
    Percentage Change -2.31%

    October - Week 1 (1-7):

    • Diesel price in Chennai opened the first week of October in Chennai at Rs.71.36 per litre, an increase of 20 paise since the previous day’s closing price. It was the highest recorded price for the month so far.
    • After staying constant for the next day, the rates dropped considerably over the next three days as the prices of crude oil in the global market cooled down. Consumers were required to pay Rs.70.99 for a litre of diesel on October 5.
    • The rates closed the opening week of October in Chennai at Rs.70.74 per litre, the lowest recorded price for the month. The overall performance of diesel in Chennai was -0.86%.

    October - Week 2 (8 – 14):

    • Diesel prices in chennai opened second week of October at Rs.70.63 per litre. The rates charged were down by 11 paise per litre from what was charged the previous day.
    • With international oil prices declining due to concerns regarding global economic growth and demand for fuel, the rates dropped further over the week. Since the start of the week, the prices declined by 37 paise per litre by 12 October.
    • The rates of diesel closed the week at Rs.70.26 per litre. This was the lowest recorded price for the fuel in the southern metropolitan city. The overall performance of diesel in Chennai was -1.54%, trending downwards.

    October - Week 3 (15 – 21):

    • In the southern metropolitan city of Chennai, OMCs charged Rs.70.21 for a litre of diesel at the start of the third week of October. Compared to the prices charged on the previous day, the rates witnessed a fall of 5 paise per litre in the city.
    • The rates remained constant for the next few days before dropping considerably on 18 October as international oil prices fluctuated due to growing concerns regarding demand for oil across the country.
    • Desel price in Chennai continued to fall in the next few days and closed the week at Rs.69.95 per litre. The rates charged on the last day of the week was the lowest recorded price of diesel for the month of October till date in Chennai. The overall performance of diesel was -1.97%, trending downwards.

    October - Week 4(22 – 28):

    • The diesel price in Chennai opened at Rs.69.88 per litre on the 22nd of October, i.e. the fourth week of October. There was a dip of 7 paise per litre when compared to the rate of diesel on the previous day.
    • Although the Brent oil was being traded at a rate of more than $60 per barrel in the international market, the price of the crude oil witnessed a drop in the rates.
    • At the end of the fourth week, the price of diesel stood at Rs.69.71 per litre. This is the lowest recorded rate for diesel in Chennai for the month of October. The overall dip in the performance of diesel for the month of October is -2.31%.

    Trend of Diesel Price in Chennai for September 2019 (rates per litre)

    Parameters Rates/litre
    1st September Rs.68.90
    30th September Rs.71.60
    Highest Rate in September Rs.71.60
    Lowest Rate in September Rs.68.76
    Overall Performance Incline
    Percentage Change 3.91%

    September - Week 1 (1-7):

    • Diesel price in Chennai opened at Rs.68.90 per litre, unchanged from previous day’s closing price. State-run oil marketing companies decided not to cut prices due to soft demand of the oil.
    • After staying stable for the next few days, price of diesel dropped by 2 paise on the 5th of September, recording Rs.68.88 per litre. Diesel dropped further, closing the week at Rs.68.76 per litre. Meanwhile, in the international oil market, crude prices went up after US confirmed that talks with China to reach a trade pact would be held in the coming weeks.
    • Overall performance of diesel in Chennai for the first week of September was -0.20%, trending downwards.

    September 2019 - Week 2 (8 – 14) :

    • Diesel price in chennai opened second week of September at Rs.68.76 per litre. The rates charged were unchanged from the previous day’s price.
    • Globally, futures of crude oil dropped after participants reduced positions due to a weak trend in global markets. The rates remained stable for a day before increasing gradually since 10 September as there was a sharp drop in US inventories.
    • The rates of diesel in chennai closed the week at Rs.69.06 per litre. Since the start of the week, the rates increased by 30 paise per litre. The overall performance of diesel in the city was 0.23%.

    September 2019 - Week 3 (15-21) :

    • Diesel price in chennai opened the third week of September at Rs.69.13 per litre in Chennai. The rates charged saw an increase of 7 paise per litre when compared to what was charged on 15 September.
    • The prices remained stable for the next day before increasing by 16 paise per litre on 17 September. The rates continued to increase in the following days even though international oil prices declined after the energy minister of Saudi Arabia stated that the kingdom will restore lost oil production by the end of the month.
    • The diesel rates closed the week at Rs.70.31 per litre, the highest recorded price for the month till now. The substantial increase in the prices of the fuel was accounted to the drone attack on Saudi Arabia’s Aramco oil refinery last week. The overall performance of diesel in the metropolitan city was 2.04%.

    September - Week 4 (22-30) :

    • Diesel price in Chennai opened at Rs.70.53 per litre on the 22nd of September—22 paise higher than the previous day’s closing price. Diesel prices kept on soaring the coming days due to geopolitical tensions.
    • The state-run oil marketing companies decided to hike the prices, with diesel recording Rs.7107 per litre on the 28th of September.
    • Price of diesel in Chennai closed the week at Rs.71.60 per litre, its highest recorded price in the month of September. The substantial increase in petrol prices was primarily due to the drone attack on Saudi Arabia’s Aramco oil refinery. The overall performance of diesel for the month of September was 3.91%, trending upwards.

    Trend of Diesel Price in Chennai for August 2019 (rates per litre):

    Parameters Rates/litre
    1st August Rs.69.76
    31st August Rs.68.90
    Highest Rate in August Rs.69.76
    Lowest Rate in August Rs.68.76
    Overall Performance Decline
    Percentage Change -1.23%

    August 2019 – Week 1 (1-7):

    • Diesel price in Chennai opened at Rs.69.76 per litre on 1 August, its highest recorded price for the first week of August. State-run oil marketing companies decided not to change the rates of diesel in spite of weak demand of crude in the international market.
    • Diesel remained unchanged for the next couple of days, before dropping to Rs.69.69 per litre, recording a drop of 7 paise per litre. Meanwhile, in the international market, crude prices fell amid worries over weaker demand after the Trump administration said it would impose tariffs on more Chinese imports.
    • Diesel closed the week at Rs.69.69 per litre, unchanged from the previous day’s closing price. The overall decline of diesel price in Chennai was -0.10%. In the international oil market, crude price dropped owing to US-China trade tensions.

    August 2019 – Week 2 (8-14):

    • Price of Diesel in Chennai opened at Rs.69.58 per litre on the second week of August, recording an 11 paise drop from previous day’s closing price.
    • Diesel dipped further by 14 paise on the next day, standing at Rs.69.44 per litre. The drop was primarily due to the ongoing US-China trade tensions, fuelled further by the Trump administration’s decision to impose more tariffs on Chinese imports.
    • Diesel price in Chennai dropped slightly in the next few days before stabilising at Rs.69.10 per litre. The overall performance of diesel compared to the opening day was -0.94%, trending downwards. Meanwhile, in the international oil market, crude prices dropped due to possible supply cuts amidst looming global economic crisis.

    August 2019 – Week 3 (15-21):

    • Chennai Diesel price opened at Rs.69.10 per litre, unchanged from previous day’s closing price.
    • After staying stable for a couple of days, diesel slumped, closing the week at Rs.68.76 per litre—its lowest recorded price in the month of August. The drop was primarily due to the weak demand of the oil in the local market.
    • The overall performance of diesel in Chennai was -1.43%, trending downwards. Meanwhile, in the international oil industry, crude gained due to fall in US inventories.

    August 2019 – Week 4 (22-31):

    • Diesel price in Chennai opened at Rs.68.76 per litre on 22nd August, unchanged from previous day’s closing price. After staying stable for the next few days, diesel prices shot up, recording Rs.69.01 per litre on 26th August. In the international oil market, crude gained after slump in US inventories.
    • Price of diesel slumped soon after, closing the month at Rs.68.90 per litre. In the international market, crude suffered due to concerns about the strength of the US economy.
    • The overall performance of diesel rate in Chennai was -1.21%, trending downwards.

    Also Check Diesel Price in Metro Cities

    Chennai Diesel Price Trend in July 2019 (rates per litre)

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    Parameters Rates/litre
    1st July Rs.67.98
    28th July Rs.69.95
    Highest Rate in July Rs.70.53 on 7 July
    Lowest Rate in July Rs.67.98 on 1 July
    Overall Performance Incline
    Percentage Change 2.89%

    July 2019 – Week 1 (1-7):

    • Diesel was priced at Rs.67.98 per litre on 1 July, recording its lowest price during the week as crude prices remained stable due to supply cuts led by the OPEC after the US-China trade war led to concerns about a global economic slowdown.
    • The diesel price in Chennai was hiked on 2 July by 3 paise per litre and remained unchanged until 6 July before rising by Rs.2.52 per litre as the Central Government imposed an additional Re.1 per litre as excise duty and Re.1 as road and infrastructure cess.
    • By the end of the week, diesel prices in Chennai inclines by 3.75% primarily due to the hike in duties by the Centre and the marginal increase in crude oil prices in the market.

    July 2019 – Week 2 (8-14):

    • Diesel price in Chennai was recorded at Rs.70.39 per litre on 8 July, a decline in 14 paise compared to the previous day’s closing price, which was recorded at Rs.70.53 per litre. The slump was primarily due to the OPEC deciding to extend supply cuts till next year coupled with the ongoing US-China trade war that may have an adverse effect on the global economy.
    • Diesel further slumped to Rs.70.28 per litre on 9 July, a drop of 11 paise from the previous day’s closing price. After staying stable for a day, prices continued to decline, and recorded at Rs.70.01 per litre on 12 July. Oil supply cuts and investors looking for safe-haven products amidst speculated global economic crisis contributed to the price decline.
    • Chennai Diesel price remained unchanged till the end of the week, thereby closing at Rs.70.01 per litre on 14 July. However, petrol prices continued to increase in the wake of a tropical storm in the Gulf of Mexico.

    July 2019 – Week 3 (15-21):

    • Diesel price in Chennai stood at Rs.70.01 per litre on 15 July, unchanged from previous day’s closing price. Initially, the international oil market remained fairly balanced with OPEC and Russia deciding to extend supply cuts. However, on 15 July, crude prices dropped after China recorded its slowest economic growth in the last 27 years.
    • Diesel in Chennai remained stable on the next few days amidst US stockpiles increasing, indicating weak demand. Surprisingly, diesel prices didn’t dip or increase amidst US-China and US-Iran tensions.
    • Diesel closed the week at Rs.70.01 per litre on 21 July, unchanged throughout the third week of July amid growing US-China trade tensions. Also, tension between the United States and Iran kept the global oil industry on edge, thereby making rooms for a possible price hike if the situation deteriorates.

    July 2019 – Week 4 (22-28):

    • Diesel in Chennai opened the week priced at Rs.70.01 per litre, the highest price recorded during the week. However, crude oil prices in the oil market declined after the International Energy Agency said it may intervene, if required, to keep markets stable amid rising Middle East tensions.
    • Prices remained unchanged until 24 July before it was cut by 6 paise a litre to be sold at Rs.69.95 despite an increase in crude oil prices after US reported decline in crude inventories suggesting a weak demand. Also, the US said it may have shot down another drone from Iran impacting crude oil prices.
    • Prices were kept unchanged until the end of the week amid muted oil markets due to weak demand and the ongoing production cut led by the OPEC and its allies as well as IEA’s statement that its unlikely crude prices will increase sharply owing to weak demand and muted oil market.

    Trend of Diesel Price in Chennai for June 2019 (rates per litre)

    Parameters Rates /litre
    2nd June Rs.69.98 per litre
    30th June Rs.67.87 per litre
    Highest Rate in June Rs.69.98 per litre on 2 June
    Lowest Rate in June Rs.67.43 per litre from 20 – 23 June
    Overall Performance Decline
    Percentage Change -3.02%

    June 2019 – Week 1 (2-8):

    • Diesel was priced Rs.69.98 per litre on 2 June in Chennai, increasing marginally compared to the previous day’s price; however, this was the highest price recorded during June.
    • State-run Oil Marketing Companies (OMCs) cut the diesel price in Chennai by 43 paise on 3 June amid a slump in crude oil prices in the global market.
    • Prices continued to fall over the course of the week as it ended at Rs.68.63 per litre even as crude stabilised after plunging by about 10% in the last four days.

    June 2019 – Week 2 (9-15):

    • On 9 June, diesel was priced Rs.68.83 per litre, no change compared to the previous day’s rate before declining the next day when a litre of diesel was priced at Rs.68.09 and remained unchanged until 12 June.
    • Prices continued to fall and recorded its weekly low of Rs.67.59 per litre on 15 June, down by Rs.1.04 per litre compared to the opening price of the week.
    • In the international oil market, crude oil prices declined amid concerns of the trade war between the US and China and production cuts led by the OPEC and its allies.

    June 2019 – Week 3 (16-23):

    • Diesel was priced Rs.67.50 per litre in Chennai on 16 June and was kept unchanged until 19 June as oil companies decided to keep the prices static.
    • On 20 June, prices were cut by 7 paise per litre to be sold at Rs.67.43 a litre even as crude oil prices declined amid indications that the global economy was slowing down due to drop in demand for crude in the market.
    • Oil firms kept the price of Rs.67.43 per litre until 23 June without any changes to the fuel price despite crude oil plummeting due to the tensions in the Middle East after Iran shot down a US military drone.

    June 2019 – Week 4 (24-30):

    • During the last, diesel opened at Rs.67.56 per litre in Chennai and remained static until 26 June, up by 13 paise over the previous price.
    • Over the course of the week, diesel rates in Chennai continued to incline before closing at Rs.67.87 a litre.
    • By the end of June, diesel prices in Chennai declined by 3.02% mainly due to the ongoing US-China trade war and US sanctions on Iran.

    What is Dynamic Fuel Pricing?

    Fuel prices in India are computed daily under the ‘Dynamic Fuel Pricing’ mechanism, which considers the 15-day average price of crude oil and the rupee-dollar exchange rate. Oil companies arrive at the final selling price of fuel based on this calculation. The new diesel price in Chennai is effective from 6:00 am IST.

    By revising diesel prices proportional to the crude oil price in the global market, oil firms are able to offset any losses and pass on any benefit to the consumer. Prior to this pricing mechanism, diesel and petrol prices used to be revised every fortnight, which was effective until 15 June 2017.

    Under the old method, the fortnightly revision often led to a sudden rise or fall in fuel prices, sometimes burning a hole of the common man. To avoid any sudden leap in prices and burden on consumers, the daily dynamic fuel pricing method was introduced.

    Factors Affecting Diesel Prices in Chennai

    Diesel rates in Chennai include several components apart from primary factors such as crude oil price and the rupee exchange rate against the U.S. dollar. Oil companies include entry tax, freight charges, refinery charges, oil firm’s margin and logistics before fixing the final selling price of diesel in a city. Dealer commission, excise duty charged by the Union Government and the VAT or local sales tax charged by the respective State are later included to the basic cost of fuel.

    While the other charges remain constant most of the time, the primary factors of crude oil price and the exchange rate of rupee-dollar have the highest impact on diesel prices in the country. Let’s understand why crude oil prices fluctuate and how it affects the fuel price in India.

    • Supply and Demand: The biggest suppliers of crude oil in the global market has been the Organisation of Petroleum Exporting Countries (OPEC) and its strong allies, thereby influencing the price of crude oil in the market to a large extent. OPEC’s policies are driven by geopolitical developments in the region. Hence, any pressure on any of the OPEC member countries often leads to a shortage in supply of crude oil, which raises the crude oil price in the international market. Likewise, if there’s an increase in demand from other countries, oil prices tend to incline.
    • Geopolitical: Any crisis or natural disasters often influence the crude oil price in the market as it could lead to a shortage or an increase in demand for oil. Political upheaval or tensions in the oil-producing or oil-consuming nations, there’s a huge impact on the prices of crude oil.
    • Supply of Crude Oil in the Future: The biggest oil-producing and oil-consuming nations stock up huge reserves of crude oil to keep their economy healthy in the event of a price increase of crude oil. They stock up when oil prices are lower and supply it across the economy to keep prices stable.

    Quarterly Diesel Price Trend in Chennai between January and March 2019

    January February March
    Opening date price Rs.66.31/litre Rs.69.36/litre Rs.70.91/litre
    Closing date price Rs.69.56/litre Rs.70.75/litre Rs.70.03/litre
    Highest price Rs.69.76/litre recorded between 25th, 26th, 27th and 28th Rs.70.75/litre recorded on 28th Rs.71.46/litre recorded on 5th, 6th and 7th
    Lowest price Rs.65.74/litre recorded on 7th, 8th and 9th Rs.69.15/litre recorded on 5th and 6th Rs.70.03/litre recorded on 29th, 30th and 31st
    Trend Upward Upward Downward
    % Change 4.90% 2% -1.24%

    Quarterly Diesel Price Trend in Chennai Between October and December 2018

    October November December
    Opening date price Rs.79.48 a litre Rs.78.05 a litre Rs.71.19 a litre
    Closing date price Rs.78.05 a litre Rs.71.60 a litre Rs.66.31 a litre
    Highest price Rs.80.10 a litre booked on the 17 October 2018 Rs.78.05 a litre booked on the 1 November 2018 Rs.71.19 a litre booked on the 1 December 2018
    Lowest Price Rs.77.16 a litre booked on the 5 October 2018 Rs.71.60 a litre booked on the 30 November 2018 Rs.66.31 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -1.80% -8.27% -6.86%

    Diesel Price Trend in Chennai Between October and December 2018

    • Diesel was priced at Rs.79.48 per litre on 1 October based on the ‘Dynamic Fuel Pricing’ mechanism which considers the global crude oil price and the exchange rate of the rupee and the US dollar.
    • State-run oil companies revise fuel prices daily. Prices of diesel in Chennai in October continued to incline to touch record highs on the back of high crude oil prices.
    • With high fuel prices, the Centre announced a reduction of excise duty of Rs.1.50 per litre and oil companies further subsidised Rs.1 per litre offering some respite to consumers.
    • This reduction led to the lowest rate recorded for the month at Rs.77.16 per litre on 5 October before it rose to touch Rs.80.10 per litre on 17 October as crude oil prices touched a four-year high.
    • By the end of the month, the trend in diesel prices in Chennai dropped by 1.80% because of the decline in excise duty levied on fuel in the country.
    • On 1 November, the diesel price stood at Rs.78.05 per litre – the highest price recorded for the month in Chennai.
    • Diesel prices in Chennai dropped over the month as crude oil prices slightly declined on the back of decline in geopolitical tensions between the US and China.
    • On 30 November, diesel recorded lowest price for the month when a litre of the fuel was available in Chennai at Rs.71.60 per litre.
    • The diesel price trend in Chennai in November fell sharply by 8.27% influenced by the significant drop in crude oil prices in the international market.
    • The diesel rate in Chennai on 1 December stood at Rs.71.19 per litre, which was the highest rate recorded for the month.
    • The global crude oil was trading around $80 per barrel early October but fell to nearly $55 per barrel late December which prompted fuel prices in the India to drop sharply.
    • On 31 December, diesel was available at its lowest for the month when it was sold at Rs.66.31 per litre.
    • By the end of the month, diesel had declined by 6.86% mainly due to the sharp fall in crude oil price along with the appreciation of the rupee over the US dollar.

    Diesel Price Trend in Chennai between July and September 2018

    July August September
    Opening date price Rs.71.12 a litre Rs.71.78 a litre Rs.74.46 a litre
    Closing date price Rs.71.66 a litre Rs.74.23 a litre Rs.79.08 a litre
    Highest price Rs.72.32 a litre recorded on the 16th Rs.74.23 a litre recorded on the 31st Rs.79.08 a litre recorded on the 30th
    Lowest price Rs.71.12 a litre recorded on the 1st Rs.71.78 a litre recorded on the 1st Rs.74.46 a litre recorded on the 1st
    Trend Upward Upward Upward
    % Change +0.75% +3.41% +6.20%

    Diesel Price Trend in Chennai in July 2018

    • In Chennai, the revision of the rate of diesel per litre occurred on a daily basis throughout the month of July 2018.
    • The USD/INR exchange rate and the price of unrefined oil have a direct influence on the pricing of diesel as crude oil is an international commodity.
    • Diesel rate in the city of Chennai raised by 32 paise litre in the first week of July 2018 and by one rupee per litre in the next week because of the strengthened dollar.
    • Triggered by the declining oil rates in the 3rd week, the fuel price lessened marginally at all the diesel stations in the city.
    • In most cases, the highest fuel rate is observed towards the end of the month. For this month, the highest rate was noticed on the 16th since fuel prices in the city of Chennai diminished in the week 3.
    • In July 2018, Chennai diesel rate were accelerated by just 0.75% under the system of dynamic fuel pricing. A rise in the fuel rate caused exclusively by the depreciated INR.
    • Diesel was taxed at 28% by the State Government of Tamil Nadu and the excise duty of Rs.15.33 was imposed by the Centre this month.

    Diesel Rate Trend in Chennai in August 2018

    • As of 1 August 2018, the commodity was priced at Rs.71.78 per litre. The price raised to Rs.71.87 on the 3rd and Rs.72.32 a litre on the 6th.
    • The commodity was valued at Rs.72.39 on the 7th. The same price tag was extended until the 16th by the fuel marketing corporations, including HPCL, BPCL and IOCL.
    • In the first two weeks, the cost of unrefined oil declined by $2.5 per barrel. As a result, diesel prices in Chennai were stagnant on all the seven days of the second week and the first two days of the third week.
    • The price of diesel a litre was also steady at Rs.72.77 between 17 August and 19 August and Rs.73.04 a litre between 21 August and 23 August.
    • On 28 August, the price stood at Rs.73.59 a litre. The OMCs further hiked the price to Rs.73.74 a litre on the 29th, Rs.73.93 a litre on the 30th and Rs.74.23 a litre on the 31st.
    • The growth rate stood at 3.41% in this month only because of the appreciation of the dollar against the rupee. No domestic elements impacted the pricing of diesel in Chennai in August.

    Diesel Price Trend in Chennai in September 2018

    • The poor performance of the rupee triggered a hike in diesel prices in the first seven days of September 2018 in Chennai. The price as of 1 September was Rs.74.46 a litre. It ascended to Rs.76.17 per litre on the 7th.
    • The Congress Party demanded the Central Government to reduce the excise duty on diesel and petrol by calling a nationwide strike on the 10th of September.
    • Unlike Karnataka, West Bengal, Rajasthan, and Andhra Pradesh, the State Government of Tamil Nadu has not reduced the sale tax on diesel.
    • Therefore, all the three oil marketing enterprises continued mounting the price of diesel until the last day of the month.
    • As the crude oil price accelerated to $77.88 per barrel from $72.53 per barrel and the rupee slid drastically against the dollar, diesel prices at all the fuel stations in Chennai were up by 6.20%.
    • For this quarter, the lowest rate was Rs.71.12 per litre and the highest rate was Rs.79.08 a litre.
    • Within a span of just three months, diesel rate in Chennai, the capital city of Tamil Nadu, was increased by Rs.8 per litre by Hindustan Petroleum, Indian Oil and Bharat Petroleum.

    Quarterly Diesel Price Trend in Chennai between April and June 2018

    April May June
    Opening date price Rs.68.12 a litre Rs.69.56 a litre Rs.73.10 a litre
    Closing date price Rs.69.56 a litre Rs.73.16 a litre Rs.71.12 a litre
    Highest price Rs.69.56 a litre recorded on 30th Rs.73.22 a litre recorded on 29th Rs.73.10 a litre recorded on 1st
    Lowest price Rs.68.12 a litre recorded on 1st Rs.69.56 a litre recorded on 1st Rs.71.12 a litre recorded on 27th
    Trend Upward Upward Downward
    %Deviation +2.11% +4.92 -2.70%
    Diesel Price Trend in Chennai

    Diesel Price Trend in Chennai in April 2018

    • The Central Government decided not to revise the excise duty on diesel per litre and even the State Government of Tamil Nadu has not revised the Value-added Tax on diesel per litre in April 2018.
    • Dynamic fuel pricing, a newly adopted system for revising fuel rates, announced the price of a litre diesel to be Rs.68.12 a litre on 1st in Chennai, the capital city of Tamil Nadu.
    • Crude oil rates and the exchange rate will influence the pricing of diesel across Indian cities. Since the cost of crude oil per barrel climbed to $69.30, diesel price in Chennai was up 2.11% to Rs.69.56 a litre in April 2018.
    • On 3rd and 4th, the fuel rate was steady at Rs.68.41 a litre. Similarly, the fuel price remained unchanged at Rs.69.56 a litre on 25th, 26th, 27th, 28th, 29th and 30th.
    • For the month, the highest and lowest diesel rates stood at Rs.69.56 a litre and Rs.68.12 a litre respectively.

    Diesel Price Trend in Chennai in May 2018

    • The opening date price for this month stood at Rs.69.56 a litre and for the first 11 days of the month, diesel was sold at a price of Rs.69.56 a litre.
    • After the second week, fuel companies such as Indian Oil, Hindustan Petroleum and Bharat Petroleum have started increasing diesel rate in Chennai in sync with the changes in the price of crude oil per barrel.
    • Diesel rate in the city of Chennai was Rs.71.63 a litre on 21st and it further increased to Rs.73.07 a litre on 28th. The highest fuel price for the month stood at Rs.73.22 a litre.
    • As the cost of unrefined oil per barrel increased by $6, diesel rates were increased by 4.92% in Chennai. The growth rate was more than 5% in other metro cities such as Mumbai, Kolkata and Delhi.
    • Domestic factors such as excise duty and Value-added Tax were not revised in this month as well. Therefore, they had no influence on the revision of diesel rates across the city.

    Diesel Price Trend in Chennai in June 2018

    • Like the first two months, the Central Government charged excise duty at Rs.15.33 on diesel per litre in this month also.
    • Value-added Tax is something that changes diesel rate from one city to another. Like excise duty, even Value-added Tax was not changed by the State Government of Tamil Nadu.
    • As the demand for unrefined oil in overseas markets has reduced, the cost of a barrel of crude oil per barrel fell to $73.85 in June 2018. Therefore, diesel price in Chennai was decreased by 2.70%.
    • Because of the same reason, diesel prices in Delhi, the national capital; Kolkata, the capital city of West Bengal; and Mumbai, the capital city of Maharashtra were decreased by Indian Oil, Hindustan Petroleum and Bharat Petroleum.
    • Over the last three months, the impact of the USD/INR exchange rate was reported to be minimal. It is only the crude oil price that made diesel price to increase in April and May.
    • For the whole quarter, the highest diesel rate was declared at Rs.73.10 per litre on 1st June whereas the lowest diesel rate was announced at Rs.68.12 on 1st April.

    Trend in Diesel Price in Chennai between January and March 2018

    January February March
    Opening date price Rs.62.96 a litre Rs.67.06 a litre Rs.65.68 a litre
    Closing date price Rs.67.05 a litre Rs.65.50 a litre Rs.67.93 a litre
    Highest price Rs.67.05 a litre booked on 31 Rs.67.71 a litre booked on 5 and 6 Rs.67.93 a litre booked on 31
    Lowest price Rs.62.96 a litre booked on 1 Rs.65.49 a litre booked on 25 Rs.65.68 a litre booked on 1
    Trend Upward Downward Upward
    % Change +6.49% -2.32% +3.42%
    Diesel Price Trend in Chennai

    Trend in Diesel Price in Chennai in January 2018

    • Under the dynamic fuel pricing framework, Indian Oil revealed an opening day price of Rs.62.96 a litre, which was also the lowest price for the whole month.
    • Between 1 and 31, the OMCs unstoppably hiked the diesel rate considering the performance of the exchange rate and the trends in overseas crude oil prices.
    • The fuel cost was up 3.36% in Chennai on 15 since the cost of crude oil (Indian Basket) glided to $68.02 per barrel and the USD was down 0.25% to Rs.63.53 during the first half.
    • No changes were made in the excise duty, the overheads of the OMCs, transportation costs, the Value-added Tax in Tamil Nadu, and the commission charged by fuel retailers.
    • Internationally, the extraction and distribution of crude oil were not affected by production cuts, bad weather conditions, and the political events in oil-producing countries such as OPEC.
    • The greenback was devalued 0.04% to Rs.63.53 against the local currency and the average crude oil price (Indian Basket) soared to $67.06 a barrel. As a result, the diesel rate in Chennai was up 6.49% to Rs.67.05 a litre on 31, the last day of the month.

    Trend in Diesel Price in Chennai in February 2018

    • On 1, the fuel rate in Chennai stayed unaffected by the Union Budget presented by the Finance Minister, who proposed to reduce the excise duty by Rs.2 a litre and other taxes by Rs.6 per litre and impose an additional levy of Rs.8 per litre.
    • Since OMCs sustained to trek the fuel rates until the end of the month, interestingly, they have affirmed the highest price at Rs.67.71 a litre on 6. The next day followed the same offer.
    • Neither the central tax nor the state tax nor the dealer commission nor the expense of the OMCs was altered throughout the month.
    • The crude oil cost of Indian Basket this month decreased to $63.54 a barrel from $67.06 a barrel a month ago. The USD/INR accelerated to Rs.65.22.
    • In the end, Indian BPCL, Indian Oil and BPCL confirmed a 2.32% price fall in the diesel price and the lowest rate of Rs.65.49 a litre on 25.
    • Not only the city of Chennai, other Indian metro cities such as Delhi, Mumbai and Kolkata have experienced a huge drop since there was a reasonable fall in the demand for unrefined oil globally.

    Trend in Diesel Rate in Chennai in March 2018

    • The first-day price offer of diesel enhanced 0.27% to Rs.65.68 per litre, which was also retained as the lowest price for the month. It is something interesting to observe.
    • Unlike the previous two months, the fuel rate was steady for a few days. For instance, an offer of Rs.66.44 a litre was made on 6 and 7 and Rs.66.32 a litre on 13 and 14 correspondingly. It is because of the stable USD/INR exchange rate.
    • With the increasing demand for crude oil, the OMCs in India stretched augmenting the diesel price in Chennai throughout the month. However, at Rs.67.93 a litre, the highest rate was observed on 31.
    • Though the crude oil prices have fallen in February, the fuel cost was up 3.42% to Rs.67.93 a litre this month, but the growth rate was less compared to the previous month.
    • Over the last three months, the average crude oil price fell 4.86% to $63.80 a barrel, which is equivalent to 159 litres. Moreover, the INR strengthened against the base currency.
    • The growth rate in the petrol price is less compared to that of in the diesel price across all the prime cities in Tamil Nadu, including its capital.

    Diesel Price Calculation in Chennai

    Now that we understand the factors influencing the fuel price in the country, here’s how diesel price is calculated before it’s sold in the city. Below is the breakup of the diesel price in Chennai recorded on 3 January 2019.

    Components Diesel Price Calculation (per litre)
    International Crude Oil Price with Ocean Freight $56.5 or Rs.3,967 per barrel
    One Barrel of Crude Oil 159 litres
    Crude Oil – Cost Rs.24.95
    OMCs Cost for Refinery and Logistics Rs.11.74
    Basic Cost of Fuel after Refining Cost Rs.36.69
    Excise Duty + Road Cess Rs.13.83
    Price Charged to Petrol Pump Owners before VAT Rs.50.89
    Commission to Dealers Rs.2.53
    Cost before VAT Rs.53.42
    VAT (25%) Rs.11.22
    Final Retail Price of Diesel as on 3 January 2019 Rs.66.78

    Diesel Price in Chennai Compared to other Metros

    Diesel rates differ from city to city as well as from fuel station to fuel station. This is due to the tax rates, which vary from state to state. In Tamil Nadu, the state government levies 25% as VAT on diesel, while it charges 34% on the sale of petrol in the state. In Mumbai, diesel attracts VAT of 24%, in Kolkata, it’s 17% or Rs.7.70 per litre (whichever is higher), and in Delhi, it’s 16.75% + 25p Pollution Cess with Surcharge.

    Diesel Price Vs. Petrol Price in Chennai

    While the basic cost of fuel is the same for petrol and diesel, other charges lower the diesel rate. The taxes levied by the Centre as excise duty and the local sales tax or VAT charged by the respective State, are much lower than charged on the sale of petrol, making diesel prices in Chennai cheaper than petrol prices.

    Is GST Applicable in Diesel?

    India moved to a new taxation system known as the Goods and Service Tax (GST), which was introduced from 1 July 2017. Under this system, all goods and services were under one taxation in the country; however, five petroleum products such as diesel, petrol, crude oil, natural gas and aviation turbine fuel (ATF) were kept out of the ambit of GST.

    Diesel and petrol continue to attract the Centre’s excise duty and the respective state’s local sales tax or VAT. The total tax incidence of excise duty and VAT is around 45-50% for petrol and 35-40% for diesel. Under the GST, the highest tax slab is 28%, which is comparatively lower, thereby impact the revenue earned by both the Centre and the State. The Centre could lose up to Rs.20,000 crore as revenue from the sale of fuel in the country, while the states want to keep their revenue to meet any contingency.

    Also, GST is an ad valorem charge, which is levied as a percentage on the ex-factory price. This could lead to a sudden leap in retail prices whenever refinery gate rates are hiked due to the rise in the global crude oil prices and the reverse is also a possibility.

    Also Check Diesel Price in NearBy Cities of Chennai

    *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 Chennai

    • Diesel prices remain the same across major cities in India on 14 May 2020

      Oil marketing companies that are managed by the state did not make any changes to the prices of diesel across the major cities in India on 14 May 2020. Diesel prices have remained even though crude oil prices have decreased drastically.

      The price of diesel remained the same when compared to 13 May 2020 and is at Rs.69.39 for a litre. On 5 May 2020, the price of diesel in Delhi was increased by Rs.7.10. The base price of fuels has not been altered since 16 March 2020. Earlier, the prices of diesel in West Bengal, Mumbai, Assam, and Karnataka were changed because of a hike in VAT. The prices of diesel in Mumbai, Chennai, and Hyderabad remained the same as well when compared to 13 May 2020. The updated prices of diesel in Mumbai, Chennai, and Hyderabad are at Rs.66.21, Rs.68.22, and Rs.67.82 for a litre, respectively. Diesel demand has dropped drastically in India since April because of the coronavirus outbreak and the subsequent lockdown where travel restrictions have been enforced. Since around 83% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the international markets, determine the prices of diesel in the country.

      14 May 2020

    • Diesel prices remain stagnant for 40 days across most cities in India

      Oil marketing companies that are run by the state made no changes to the prices of diesel across the major cities in India on 27 April 2020. Diesel prices have remained the same in most cities for 40 days in a row.

      Since 17 March 2020, diesel prices have remained the same across most cities even though the prices of crude oil have reduced drastically over the last 60 days. Earlier, the prices of diesel in Assam were increased by Rs.5 for a litre. In Delhi, the price of diesel remained the same as on 25 April 2020 and was at Rs.62.29 for a litre. The prices of diesel in Gurugram, Noida, Chennai, Kolkata, and Mumbai have remained the same as well when compared to 24 April 2020. The updated prices of diesel in Gurugram, Noida, Chennai, Kolkata, and Mumbai were at Rs.62.08, Rs.62.96, Rs.65.71, Rs.65.52, and Rs.66.21 for a litre, respectively. Since more than 80% of India’s crude requirements are imported, crude oil prices in the international markets and the value of the rupee against the dollar determine the prices of diesel in the country.

      27 April 2020

    • Diesel prices remain stagnant across the major cities on 10 April 2020

      Oil marketing companies that are run by the state did not make any changes to the diesel prices across the major cities in India on 10 April 2020. Diesel prices have remained the same across many cities for 25 days in a row.

      In Delhi, the prices of diesel remained unchanged when compared to 9 April 2020 and are at Rs.62.29 for a litre. The price of diesel in the national capital is the cheapest when compared to most cities and all the metros due to lower taxes. The prices of diesel across many cities have remained the same since 16 March 2020. The prices of diesel were increased by up to Rs.1.5 in Bengaluru, Kolkata, and Mumbai due to a hike in VAT. The prices of diesel in Noida, Gurugram, Chennai, Kolkata, and Mumbai remained the same when compared to 9 April 2020. The updated prices of diesel in Noida, Gurugram, Chennai, Kolkata, and Mumbai are at Rs.62.96, Rs.62.08, Rs.65.71, Rs.65.62, and Rs.66.21 for a litre, respectively. The consumption of fuel hit its lowest in over a decade due to the lockdown that is in effect because of the coronavirus outbreak. Since around 83% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the international markets determine the prices of diesel in the country. In the global markets, Brent crude oil prices increased by around 4%.

      10 April 2020

    • Diesel prices see no change in the prices

      The rates of diesel across the country remained unchanged for the eighth consecutive day on Tuesday. Following the daily revision in the prices, a litre of petrol was retailed for Rs.62.29 in the national capital while in Mumbai a litre cost Rs.65.21. In the other two metropolitan cities i.e., Kolkata and Chennai OMCs charged Rs.64.62 and Rs.65.71 for a litre.

      In non-metropolitan cities like Noida, Gurugram, Hyderabad and Bangalore, a litre of diesel was retailed for Rs.62.96, Rs.62.08, Rs.67.82, and Rs.64.41 respectively. It must be noted here that the rates of diesel were the cheapest in the national capital among all metropolitan cities and most state capitals due to lower taxes. Since 11 January, diesel prices in Delhi have declined by Rs.6.88 for a litre.

      In the international oil market, the rates of global benchmark Brent crude oil prices continued its downward slide amid concerns about the coronavirus infections and its negative impact on oil demand.

      It needs to be mentioned here that the central government is all set to increase the excise duty on petrol and diesel by up to Rs.8 per litre to mobilise additional resources that would be needed to fight the coronavirus pandemic. It had already hiked the excise duty by Rs.3 per litre given the decline in international oil prices in the wake of coronavirus pandemic.

      24 March 2020

    • Diesel prices cut on Saturday

      For the third consecutive day, the rates of diesel were slashed in the country by state-owned Oil Marketing Companies (OMCs) on Saturday. The price for a litre of diesel was reduced by 12-13 paise following the daily revision. In New Delhi, consumers were required to shell out Rs.63.69 for a litre while in the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai OMCs charged Rs.66.69, Rs.66.02, and Rs.63.69 for a litre. In non-metropolitan cities like Pune, Ahmedabad, and Visakhapatnam, a litre of petrol cost Rs.66.07, Rs.66.66, and Rs.68.95 respectively. The cost for a litre of diesel was the cheapest in the national capital among all the mentioned cities due to the fact the tax imposed on the fuel is low in New Delhi.

      In India, the rates of fuel are revised as per the dynamic pricing scheme which was adopted in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the rupee – dollar exchange rate.

      On Friday, the futures of Brent crude, the global benchmark of crude oil rates was down and was trading at $45.27 per barrel while the rupee plunged to 73.87 against the US dollar.

      7 March 2020

    • Diesel gets cheaper by 20-22 paise across the country

      Oil Marketing Companies (OMCs) continued to reduce the prices of diesel across the country on Sunday. Following Sunday’s revision in the prices, a litre of petrol cost Rs.65.23 in Delhi, Rs.68.36 in Mumbai, Rs.67.59 in Kolkata, and Rs.68.89 in Chennai. In non-metropolitan cities like Noida and Gurugram, consumers were required to shell out Rs.65.49 and 64.61 respectively for a litre of diesel. It must be noted here that the rates of diesel were the cheapest in the national capital among all metropolitan cities and most state capitals due to lower taxes.

      In the international oil market, the futures of global crude oil were down on Friday. Brent crude oil futures slipped by 0.15 percent and was trading at $54.85 per barrel. Amid selling in domestic equities and strengthening of the American currency overseas, the rupee also declined by 22 paise to settle at 71.40 against the US dollar.

      In India, the rates of fuel are revised daily as per the dynamic pricing scheme which was adopted in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the rupee-dollar exchange rate.

      9 February 2020

    • OMCs cut diesel prices by 19-20 paise across the metropolitan cities

      Diesel prices in the country were slashed for the fifth successive day on Monday. State-owned Oil Marketing Companies (OMCs) cut the rates by 19-20 paise across the metropolitan cities following Monday’s revision. The reduction in the prices meant that every litre of diesel was retailed for Rs.68.26 in Delhi, Rs.71.57 in Mumbai, Rs.70.62 in Kolkata, and Rs.72.13 in Chennai. Diesel prices in Noida were reduced by 19 paise while in Gurugram it was slashed by 17 paise. This meant that a litre of diesel in both the cities was retailed for Rs.68.53 and Rs.67.20 respectively. It must be noted here that diesel prices were the cheapest in the national capital among all metropolitan cities and most state capitals due to lower taxes.

      India which imports 80 percent of the total crude requirements revise the rates of fuel on a daily basis as per the dynamic pricing scheme which was adopted by OMCs in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar.

      20 January 2020

    • Diesel prices hiked by 17 – 19 paise on Monday

      The rates of diesel were hiked again on Monday across the major cities of the country. Following the daily revision in the prices, the rates charged for a litre of diesel were hiked by 17 – 19 paise. The increase in the prices saw every litre of petrol being retailed for Rs.68.68 in the national capital. In Mumbai, Kolkata, and Chennai consumers were required to shell out Rs.72.02, Rs.71.04, and Rs.72.58 respectively for a litre. In non-metropolitan cities like Noida and Gurugram, OMCs charged Rs.68.95 and Rs.67.56 for a litre of diesel. The rates of diesel were the cheapest in the national capital among all metropolitan cities and state capitals due to lower taxes.

      In the international oil market, the rates of crude oil shot up after the US president issued a threat to impose curbs on Iraq amid growing tensions with Iran. The futures of Brent crude and US West Texas Intermediate (WTI) were up by 2.4 and 2.1 percent to be trading at $70.27 and $64.39 per barrel.

      In India, the rates of fuel are revised as per the dynamic pricing scheme which was adopted by OMCs in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar.

      6 January 2020

    • Diesel rates remain stagnant on the first day of 2020

      On the first day of the new calendar, the rates of diesel didn’t see any change. Following the price revision on Wednesday, a litre of diesel cost Rs.67.96 in Delhi. Consumers residing in metropolitan cities like Mumbai, Kolkata, and Chennai were required to shell out Rs.71.31, Rs.70.38, and Rs.71.86 respectively. In non-metropolitan cities like Noida and Gurugram, OMCs charged Rs.68.10 and Rs.66.84 respectively for a litre. It must be noted here that in 2019, diesel prices went up by about Rs.5.1 per litre.

      The rates of fuel are revised in the country as per the dynamic pricing scheme which was adopted by Oil Marketing Companies (OMCs) in June 2017. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is done because India imports 80% of the total crude requirements as well as to pass on the slightest benefit to the retailers and consumers if there is any change in the international oil prices.

      1 January 2020

    • Diesel prices increases by up to 11 paise on 9 December 2019

      Oil marketing companies that are operated by the state increased the prices of diesel by up to 11 paise across various cities on 9 December 2019. On 8 December 2019, no changes were made in the prices on diesel.

      As per the data available on the official website of Indian Oil Corporation, the price of diesel in Delhi increased by 10 paise and hit Rs.65.04 for a litre. However, Delhi has the cheapest prices of diesel when compared to most other state capitals as lower taxes are levied. In Mumbai and Kolkata, the prices of diesel increased by 10 paise as well and hit Rs.68.45 and Rs.68.45 for a litre, respectively. The price of diesel in Chennai increased by 11 paise and hit Rs.69.81 for a litre. In Gurugram, the price of diesel increased from Rs.65.18 to Rs.65.35 for a litre. In Noida, the price of diesel increased from Rs.66.15 to Rs.66.35 for a litre. As over 80% of the country’s crude requirements are imported, the rupee to the dollar exchange rate and the crude prices in the international market play a huge role in determining the prices of diesel. Crude prices decreased in the international market due to the trade tensions between Washington and Beijing. Brent crude futures prices in the global market fell by 0.3% and hit $64.18 for a barrel.

      9 December 2019

    Diesel Price In Metro Cities
    Diesel Price In Other Capitals
    Diesel Price In Other Major Cities
    Diesel Price In States

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