Last 7 days Diesel Price in Delhi.
|Date||Petrol Price(Rs/Lt)||Price Change|
|Sep 12th 2019||65.22||+0.05|
|Sep 11th 2019||65.17||0|
|Sep 10th 2019||65.17||+0.05|
|Sep 9th 2019||65.12||0|
|Sep 8th 2019||65.12||0|
|Sep 7th 2019||65.12||-0.05|
|Sep 6th 2019||65.17||-0.05|
Diesel Rate In Delhi:
|About Diesel Price in Delhi|
Delhi continues to be the benchmark or an indicator of any increase or decrease in fuel prices in the country. With a population of more than 18 million, the Union territory is the second most populous city in India. Prices of petrol and diesel are revised daily, aligned to market rates, which means diesel price in Delhi will increase every time global crude oil prices increase and rupee depreciates against the US dollar.
State-run Oil Marketing Companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum fix the new diesel price in India daily based on the ‘Dynamic Fuel Pricing’ mechanism. Depending upon the changes in the crude oil price in the global markets, OMCs fix diesel prices in Delhi.
|Also Know: Petrol Price In Delhi|
Trend of Diesel Price in Delhi for September 2019 (rates per litre)
|Highest Rate in September||Rs.65.26|
|Lowest Rate in September||Rs.65.12|
September - Week 1 (1-7):
- Diesel prices in Delhi opened the month of September at Rs.65.26 per litre. The prices were unchanged from previous day’s closing price due to low demand for the oil.
- The rates remained static for the next three before dropping marginally on 5, 6, and 7 September. Crude oil prices, however, were on an upward curve after the United States confirmed of talks with China to reach a trade pact.
- The prices of diesel closed the first of September at Rs.65.12 per litre with the overall performance trending downwards at -0.21%.
Trend of Diesel Price in Delhi for August 2019 (rates per litre):
|Highest Rate in August||Rs.66.05|
|Lowest Rate in August||Rs.65.12|
August 2019 – Week 1 (1-7):
- Diesel price in Delhi opened at Rs.66.05 per litre on 1 August, its highest recorded price of the week. State-run oil marketing companies decided not to alter the rates of diesel in spite of weak demand of crude in the international market. Meanwhile, in the international crude oil market, crude prices dropped after the US Federal Reserve squashed the chances of possible rate cuts. However, the petrol witnessed a massive drop in its price.
- Diesel remained unchanged for the next couple of days, standing at Rs.66.05 per litre. Meanwhile, in the international oil market, crude prices fell amid worries over weaker demand after the Trump administration said it would impose tariffs on more Chinese imports.
- After staying stable for a couple of days, diesel dropped marginally, closing the week at Rs.65.99 per litre, its lowest recorded price till now in the month of August. The overall decline in diesel price in Delhi recorded in the first week of August is -0.72%. In the international oil market, crude price dropped owing to US-China trade tensions. With Trump announcing to impose more tariffs on Chinese imports, crude prices could drop further in the coming days. However, amidst US-China trade war, state-run oil marketing companies decided not to change the diesel rates, which stayed stable for the entire week of August.
August 2019 – Week 2 (8-14)
- Diesel price in Delhi opened at Rs.65.89 per litre on the second week of August, recording a 10 paise drop from previous day’s closing price.
- Diesel slumped further by 13 paise on the next day, standing at Rs.65.76 per litre. The dip was primarily due to the ongoing US-China trade tension, fuelled further by Trump administration’s decision to impose more tariffs on Chinese imports.
- Diesel price in Delhi dropped slightly in the next few days before stabilising at Rs.65.44 per litre. The overall performance compared to the opening day was -0.92% (decline). 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):
- Diesel in Delhi opened at Rs.65.44 per litre on 15 August, same price as previous day’s closing price.
- Prices dropped by 5 paise per litre on 17 August, recording Rs.65.39 per litre. Diesel dipped further and stood at Rs.65.19 on 19 August. The drop was primarily due to the weak demand of the oil in the local market.
- Diesel closed the week at Rs.65.12 per litre in Delhi—recording its lowest price in August. The overall performance of the oil was -140%, trending downwards. However, in the international oil industry, crude prices went up following a slump in US inventories.
August 2019 – Week 4 (22-31):
- Diesel in Delhi opened at Rs.65.12 per litre on 22nd August, unchanged from previous day’s closing price. After staying stable for the next few days, diesel prices went up, recording Rs.65.36 per litre on 26th August. In the international oil market, crude gained after slump in US inventories.
- Diesel slumped soon after, closing the month at Rs.65.26 per litre. In the international market, crude suffered due to US-China trade tensions and concerns about the strength of the US economy.
- The overall performance of diesel in Delhi was -1.19%, trending downwards.
Trend of Diesel Price in Delhi for July 2019 (rates per litre)
|Highest Rate in July||Rs.67.73|
|Lowest Rate in July||Rs.64.32|
July 2019 – Week 1 (1-7):
- Diesel price in Delhi was at Rs.64.32 per litre on 1 July – the lowest price recorded during the week influenced by the slight drop in crude oil prices in the global market due to the supply cuts led by the OPEC and its allies.
- State-owned Oil Marketing Companies (OMCs), as per the daily revision in prices, hiked diesel price in Delhi by 6 paise per litre. This remained unchanged until 6 July marked by the slight incline in crude oil prices due to geopolitical tensions in the Middle East.
- On 7 July, diesel prices were at its highest when a litre was sold at Rs.66.73 per litre primarily due to the increase in excise duty of Re.1 per litre as well as the road and infrastructure cess of Re.1 per litre.
July 2019 – Week 2 (8-14):
- The diesel price in Delhi on 8 July stood at Rs.66.64 per litre – the highest price recorded during the week amid a marginal increase in crude oil prices and the hike in excise duty of Rs.2 per litre announced by the Centre in the 2019 Finance Budget.
- Prices fell during the week attributed by the decline in crude oil prices due to the supply cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and its allies despite tensions in the Middle East and the trade war between the US and China.
- By the end of the week, diesel was at its weekly low of Rs.66.29 per litre recorded from 12 to 14 July largely due to the fall in crude oil prices in the global market amid concerns about the slowdown of the global economy.
July 2019 – Week 3 (15-21):
- Diesel price in Delhi stood at Rs.66.29 per litre on 15 July – this remained unchanged throughout the week as Oil Marketing Companies chose to keep prices unchanged despite rising crude oil prices in the oil market.
- Crude oil prices in the global market continued to rise after China reported its slowest quarterly economic growth since last three decades highlighting concerns about demand from the world’s largest crude oil importer and rising tensions in the Middle East after US shot down an Iranian drone.
- Brent Crude futures for September – the global benchmark – fell by 21 cents to $66.51 per barrel after it came under pressure from worries about global economy growth amid signs of a negative impact from the US-China trade tensions.
July 2019 – Week 3 (15-21):
- Diesel in Delhi opened at Rs.66.29 per litre on 22 July, same as previous week’s price. The state-run oil marketing companies decided not to increase diesel prices across the country. The reason could be attributed to weak demand and the extension of oil supply cuts.
- Diesel remained constant for the next few days amid hike in crude prices in the international market owing to Middle East skirmishes and a massive drop in US inventories. However, weak demand continued to be the primary concern throughout.
- Diesel price in Delhi dropped by a mere 0.06 paise and closed the week at Rs.66.23 per litre. Weak demand coupled with a glut in the international crude industry could be the primary reason for this price drop. With OPEC and Russia agreeing to extend supply cuts till March 2020, it’s being speculated that the oil industry will remain fairly balanced in 2019. On the other hand, petrol also got cheaper in Delhi simultaneously.
Also Check Diesel Price in Metro Cities
|Diesel Price in Mumbai||Diesel Price in Chennai||Diesel Price in Bangalore|
|Diesel Price Kolkata||Diesel Price n Hyderabad||Diesel Price Pune|
Trend of Diesel Price in Delhi for June 2019 (rates per litre)
|2nd June||Rs.66.19 per litre|
|30th June||Rs.64.32 per litre|
|Highest Rate in June||Rs.66.19 per litre on 2 June|
|Lowest Rate in June||Rs.63.81 per litre from 20 – 23 June|
June 2019 – Week 1 (2-8):
- Diesel opened at Rs.66.19 per litre on 2 June, a slight increase compared to the previous day’s price amid crude oil prices declining in the global oil market.
- Diesel price in Delhi continued to decline over the week with the week’s lowest price recorded at Rs.64.93 a litre on 8 June.
- The significant decline in diesel rates came amid a stable crude oil price even as Brent crude futures – the international benchmark – fell by 0.4%, or 22 cents after dropping by 10% in the last four days.
June 2019 – Week 2 (9-15):
- There was no change in prices on 9 June compared to the previous day’s price even as a litre of diesel was sold in Delhi at Rs.64.93.
- State-owned Oil Marketing Companies (OMCs) cut the diesel price by 51 paise per litre on 10 June when a litre of diesel was being sold at Rs.64.42 per litre and remained unchanged until 12 June.
- Diesel price in Delhi were further reduced on 15 June when a litre was sold at Rs.63.96 in Delhi, down by 24 paise per litre.
June 2019 – Week 3 (16-23):
- Diesel price in Delhi was at Rs.63.87 per litre in Delhi and remained unchanged until 19 June, cut by 9 paise per litre.
- Oil companies kept diesel prices unchanged even as crude oil prices in the global oil market fell on indications that the slowing of the global economic growth due to the trade war between the US and China.
- Prices further declined to Rs.63.81 per litre on 20 June and remained unchanged until the end of the week. The decrease in crude prices was influenced by tensions in the Middle East after Iran shot down a US military drone as well as on expectations for an interest rate cut by the US Federal Reserve.
June 2019 – Week 4 (24-30):
- Diesel price in Delhi was at Rs.63.93 per litre on 24 June and remained unchanged until 26 June before it was increased by 5 paise on 27 June when a litre was sold at Rs.63.98.
- Diesel prices rose on 28 June when a litre was available at Rs.64.04, up by 6 paise a litre, which remained the same the next day as well.
- Overall, diesel prices in June 2019 in Delhi declined by 2.82% affected by the drop in crude oil prices as investors awaited the outcome of the G20 summit and the meeting of the OPEC and its allies about an extension in supply cuts.
|Also Check: Diesel Price in Mumbai|
Dynamic Fuel Pricing Meaning
Why do petrol prices fluctuate in India? Since fuel prices in India are proportional to the international price of crude oil, rates are revised accordingly by State-owned OMCs. This helps oil companies to offset any losses as well as pass on any benefits to consumers immediately.
Oil firms consider the two week or 15-day average price of crude oil along with the rupee-dollar exchange rate to arrive at the final selling price of diesel or petrol. The new price of petrol or diesel comes into effect from 6:00 am IST, this system was implemented from 16 June 2017 in the country.
The move was aimed to ensure that the benefit of even the smallest change in crude oil prices can be passed on to consumers and dealers. Prior to this method, fuel prices were every fortnight in the country. However, it led to a sudden rise or decline in fuel prices in the country, burdening the common man.
With the ‘Dynamic Fuel Pricing’ mechanism in place, it removes any sudden leap in prices that need to be effected at the end of the fortnight.
Factors Affecting Diesel Prices in Delhi
Like other cities in India, diesel rates in Delhi include several other components apart from the global crude oil price and the rupee-dollar exchange rate. Components such as freight charges, entry tax, refinery processing, oil companies’ margin and logistics are levied before arriving at the basic cost of fuel. Additionally, petrol pump owners’ commission is included as well as excise duty levied by the Centre and the respective State charges local sales tax or Value Added Tax (VAT).
However, the biggest impact on fuel prices is the global crude oil price and the exchange rate of the Indian currency over the US dollar. Crude oil prices fluctuate for various reasons, let’s review them in detail:
- Current Supply and Demand: For several decades, the Organization of Petroleum Exporting Countries (OPEC) has been the biggest supplier of crude oil in the international market, influencing oil prices. Policies of OPEC are affected by geopolitical developments, hence, any pressure on one of the OPECs will lead to a cut in oil supply. This, in turn, increases the crude oil price in the market. Also, any massive increase in supply could lead to a fall in oil prices.
- Geopolitical Tensions: Political events and crisis such as war, political upheaval, natural disasters are factors which influence the oil price. Conflicts in any oil-producing region of the world could potentially reduce the supply of oil.
- Future Supply and Reserves: Among the biggest oil-producing or oil-consuming countries, crude oil is reserved to keep their economies healthy in case oil prices incline. Oil is stocked up when the rate is low and then supplied through the economy to keep prices down.
Diesel Price Calculation in India
Know how the diesel price is calculated before it’s sold in the country. State-run oil companies fix the price based on the below computation of fuel prices. Please note, prices are as of 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 (16.75% + 25p as Pollution Cess with Surcharge)||Rs.9.24|
|Final Retail Price of Diesel as on 3 January 2019||Rs.62.66|
Diesel Price in Delhi Compared to other Metro Cities
Fuel prices in Delhi are the cheapest compared to other major metro cities of the country. This is due to the lower local sales tax or VAT being levied on the sale of fuel in Delhi. In Mumbai, diesel attracts VAT of 24%, while Delhi charges 16.75% + 25p as Pollution Cess with Surcharge.
Diesel Price Vs. Petrol Price in Delhi
While the cost of the basic crude oil price for both petrol and diesel is the same, additional charges make diesel prices lower compared to that of petrol. The excise duty and the local sales tax or VAT is much lower compared to the rates levied on petrol, making the diesel price in Delhi cheaper than petrol prices.
Why Petrol and Diesel is not under GST?
When Goods and Service Tax (GST) was implemented in July 2017, five petroleum products such as petrol, diesel, crude oil, natural gas and aviation turbine fuel (ATF) were exempted from attracting GST. Neither the Centre or states are in favour as there could be huge revenue loss to both their respective exchequer. If petrol and diesel come under GST, the Centre will lose more than Rs.20,000 crore input tax credit it earns through excise duty, while states are keen to keep their revenue pool to meet any contingencies.
Currently, the total tax incidence of excise duty and VAT comes around 45-50% on petrol and 35-40% on diesel. However, under GST, the total tax incidence is 28% which affects the revenue earned by the Centre as well as states. Also, GST being an ad valorem levy, charged as a percentage on the ex-factory rate, would have a huge impact on retail prices whenever refinery gate rates are hiked amid a rise in crude oil prices in the global market and vice versa would also be true.
Also Check Diesel Price in NearBy Cities of Delhi
*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.