Diesel Price In Delhi Today

• Current Diesel Price in Delhi is Rs 69.39 per litre

Last 7 days Diesel Price in Delhi.

Diesel Rate In Delhi:

• Diesel prices in Delhi are currently revised daily under the ‘Dynamic Fuel Pricing’ mechanism. It’s important to check the price of diesel in Delhi as any decline in cost could save some money.
• 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.

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

May – Week 1 (1 – 7)

• Diesel price in Delhi stood at Rs.62.29 per litre on the 1st of May, unchanged from its previous day’s closing price.
• Diesel prices jumped to Rs.69.39 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 Delhi was 11.39%, trending upwards.

May – Week 2 (8 - 14)

• Diesel price in Delhi stood at Rs.69.39 per litre on the 8th of May, unchanged from its previous day’s closing price.
• Diesel stayed stable for the next few days and closed the week at Rs.69.39 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 Delhi was 11.39%

May – Week 3 (15 - 21):

• Diesel price in Delhi stood at Rs.69.39 per litre on the 15th of May, unchanged from its previous day’s closing price.
• Diesel stayed stable for the next few days and closed the week at Rs.69.39 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 Delhi was 11.39%.

May – Week 4 (22 - 28):

• Diesel opened the final week of May at Rs.69.39 per litre in Delhi. There was no change in the rates of the fuel when compared to the closing price of the previous week.
• Over the week, petrol rates didn’t see any change in the national capital.
• The overall performance of petrol saw an incline in the rates with the percentage change being 11.39%.

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

April – Week 1 (1 – 7)

• Diesel in Delhi stood at Rs.62.33 per litre on the 1st of April, unchanged from its previous day’s closing price.
• After staying stable for the next few days, diesel slumped to Rs.62.29 per litre. In the international oil market, oil prices fluctuated due to the coronavirus pandemic, diminishing the demand for the oil.
• The overall performance of diesel in Delhi was -0.06%, trending downwards.

April – Week 2 (8 - 14)

• Diesel price in Delhi stood at Rs.62.29 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.62.29 per litre. In the international oil market, oil prices fluctuated due to the coronavirus pandemic, diminishing demand for the oil.
• The overall performance of diesel in Delhi was -0.06%.

April – Week 3 (15 - 21)

• Diesel price in Delhi stood at Rs.62.29 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.62.29 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 in Delhi was -0.06%.

April – Week 4 (22 - 28)

• Diesel price in Delhi stood at Rs.62.29 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.62.29 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.
• The overall performance of diesel in Delhi was -0.06%.

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

March – Week 1 (1 – 7)

• Diesel price in Delhi opened the month of March at Rs.64.34 per litre. This was the highest recorded price for the fuel till the end of the first week of the month. When compared to the previous week’s closing price, the rates charged for a litre fell by 18 paise.
• As coronavirus spread around the world, the rates of international crude slipped in the global market. The drop in the crude oil prices meant the rates of diesel also slipped in the national capital over the first week of March.
• In Delhi, the rates closed the opening week at Rs.63.73 per litre, the lowest recorded price of diesel over the week. Diesel’s overall performance showed a decline of 0.94% in the prices.

March – Week 2 (8 - 16)

• For the second week of March in Delhi, the price of diesel opened at the rate of Rs.63.55 per litre. Compared to the previous week’s closing price, the rates slipped by 18 paise for every litre.
• The international market also witnessed the biggest daily percentage drop in the price of Brent crude oil which also affected the price of diesel. So far, this has been the biggest drop in price since December 2008. The rates kept dropping further due to the outbreak of coronavirus across the world. The virus has been termed to be pandemic. In addition to that, the price war between Russia and Saudi Arabia also added to the whole situation and that dropped the price of diesel further.
• Diesel prices in Delhi came to a close for the week at Rs.62.60 per litre. The closing price was the lowest recorded price for the month till date with the overall performance showing a decline of -2.70% in the prices.

March – Week 3 (15 - 21)

• In Delhi, diesel opened the third week of March at Rs.62.48 per litre. Compared to the closing price of the previous week, the rates were down by 12 paise per litre.
• With Oil Marketing Companies (OMCs) moderating rate cut amid the decline in Brent crude, the global oil price gauge, the rates slipped by 15 paise per litre the next day. There was no change in the rates following that in the national capital over the week.
• Diesel closed the week at Rs.62.33 per litre. This was the lowest recorded price of the fuel for the month till date. The overall performance showed a decline of 3.12% in Delhi.

March – Week 4 (22 - 31)

• Diesel price in Delhi stood at Rs.62.33 per litre on the 22nd of March, unchanged from its previous day’s closing price.
• Diesel closed the week at Rs.62.33 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 Delhi was -3.12%, trending downwards.

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

February – Week 1 (1 – 7)

• Diesel price in Delhi stood at Rs.66.23 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.65.69 per litre.
• The overall performance of diesel in Delhi was -0.81%, trending downwards.

February – Week 2 (8 - 14)

• Diesel price in Delhi stood at Rs.65.44 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.64.78 per litre, its lowest recorded price for the month.
• The overall performance of diesel in Delhi was -2.18%, trending downwards.

February – Week 3 (15 - 21)

• In Delhi, diesel prices stood at Rs.64.78 per litre on the 15th of February. There was no change in the prices when compared to the previous week’s closing price.
• The diesel rates slipped to its lowest for the month on 18 February after the prices were slashed by 12 paise for a litre. A litre of diesel was retailed for Rs.64.66 on the mentioned date in the national capital.
• Diesel prices closed the week at the same price with the overall performance showing a decline of 1.07%.

February – Week 4 (22 - 29)

• Diesel price in Delhi stood at Rs.64.66 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.64.52 per litre, its lowest recorded price for the month of February.
• The overall performance of diesel in Delhi was -2.58%, trending downwards.

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

January – Week 1 (1 – 7)

• The diesel price in Delhi opened at the rate of Rs.68.00 per litre for the first week of January. The same rate was prevalent on the previous day, i.e. the 31st of December.
• The price of Brent crude went up almost 4% and stood at Rs.4,514 per barrel after a top Iranian military commander was killed by the US. This might result in the disrupted supply of oil in the international market as well.
• The price of the fuel came to a close at the rate of Rs.68.84 per litre in Delhi for the first week of January. The overall performance of diesel witnessed an incline of 1.24%.

January – Week 2 (8-14)

• Diesel price in the national capital opened the second week of January at Rs.68.84 per litre. There was no change in the rates of the fuel when compared to the previous week’s closing price.
• The rates of diesel jumped over the next few days due to the turbulence in the global markets as there was a deadlock between the United States and Iran. The rates of petrol hit the highest for the month on 11 January with every litre being retailed Rs.69.23 in the national capital.
• Diesel rate closed the week at Rs.69.12 in Delhi as tensions between both the countries eased. The overall performance of the fuel in the national capital was 1.64% and trending upwards.

January – Week 3 (15-21)

• Diesel prices in Delhi started the third week of January at 69.12 per litre. Compared to the previous week’s closing price, the rates charged for a litre didn’t see any change.
• As international crude oil prices softened after two months of relentless rate hikes, diesel prices in the national capital declined considerably. A litre of petrol was retailed for Rs.68.67 per litre on 18 January.
• In Delhi, diesel prices continued to slip further over the week and closed at Rs.68.10 per litre with the overall performance showing an incline of 0.14%.

January – Week 4 (22-28)

• Diesel price in Delhi stood at Rs.68.10 per litre, unchanged from its previous day’s closing price. Prices fluctuated in the international market owing to coronavirus and its effect on the Chinese economy.
• On India’s Republic Day, diesel stood at Rs.67.04 per litre, thereby marking a substantial drop in its prices.
• Diesel rate closed the week at Rs.66.64 per litre, its lowest recorded price in the month of January. The overall performance of diesel in Delhi was -2%, trending downwards.

January – Week 5 (29-31)

• Diesel price in Delhi stood at Rs.66.64 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.66.34 per litre, its lowest recorded prices for the month of January.
• The overall performance of diesel in Delhi was -2.44%, trending downwards.

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

December – Week 1 (1 – 7)

• Diesel price in Delhi stood at Rs.65.79 per litre on the 1st of December, unchanged from previous day’s closing price.
• Diesel remained stable for the next few days at Rs.65.79 per litre.
• Prices increased on the 7th of December, with diesel closing at Rs.65.88 per litre, a 9 paise hike from the previous day’s closing price. Overall performance of diesel in Delhi was 0.13%, trending upwards.

December– Week 2 (8 – 14)

• Diesel price in Delhi stood at Rs.65.98 per litre on the 8th of December, 10 paise higher than previous day’s closing price.
• Diesel prices further increased before stabilising at Rs.66.08 per litre.
• Diesel closed the week at Rs.66.08 per litre. Overall performance of diesel in Delhi was 0.44%, trending upwards.

December – Week 3 (15 - 21)

• Diesel price in the national capital stood at Rs.66.08 per litre as of 15 December. Compared to the previous week’s closing price, the rates didn’t see any change.
• After staying constant for the next few days, the rates of diesel witnessed a surge. As of 20 December, a litre of diesel was retailed for Rs.66.38 in the city.
• In Delhi, diesel closed the third week of December at Rs.66.58 per litre. It was the highest recorded price for the fuel in the month so far. Diesel’s overall performance in the national capital was 1.20%, trending upwards.

December– Week 4 (22 - 29)

• Diesel price in Delhi stood at Rs.66.78 per litre on 22 December. The rates charged for the fuel in the national capital climbed by 20 paise when compared to the previous week’s closing price.
• The rates stabilised after increasing to Rs.67.03 per litre on 24 December as Oil Marketing Companies (OMCs) waited for the trade deal to be signed between the United States and China.
• Diesel prices started to climb from 27 December due to the efforts of OPEC to cut supply and hopes of a breakthrough in the trade tensions between Washington and Beijing. The rates closed the fourth week of December at 67.64 per litre which was the highest recorded price for the month till date. The overall performance of the fuel in the national capital was 2.81%, trending upwards.

Trend of Diesel Price in Delhi for November 2019 (rates per litre)

November – Week 1 (1 – 7)

• In Delhi, the price of diesel for the first week of November, opened at Rs.65.81. The rate of the fuel on the previous day was Rs.65.91. There was a dip of 10 paise per litre in the price of diesel.
• In the international market, the price of Brent oil went down by 26 cents and was being traded at $55.94 per barrel. The market also witnessed a dip in the demand of the fuel due to the Washington-Beijing trade war. The price of crude oil was relaxed in the international market owing to the upcoming European and US economic data.
• The price of diesel in Delhi closed at Rs.65.76 at the end of the first week of November. So far, this is the lowest rate of diesel which has been recorded for the month of November. The overall performance of the fuel dropped by -0.08%.

November – Week 2 (8 – 14)

• Diesel price in Delhi stood at Rs.65.85 per litre on the 8th of November, 9 paise higher than the previous day’s closing price. Diesel further increased on the next day, reaching its peak at Rs.65.92 per litre.
• However, after the steep rise, diesel prices fell, closing the week at Rs.65.80 per lite.
• The overall performance of diesel in Delhi 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 Delhi opened the third week of November at Rs.65.80 per litre. The rates charged in the national capital on the opening day of the week was the same to what was charged the previous day.
• Over the week, the rates of diesel saw a slight increase in the prices as Oil Marketing Companies (OMCs) decided to keep the prices constant in the capital even though fuel prices in the international oil market increased.
• The rates closed the week at Rs.65.85 per litre in Delhi after increasing by 5 paise per litre on 19 November. The overall performance of diesel in Delhi was 0.60%, trending upward.

November – Week 4 (22 – 30):

• Diesel price in Delhi started the fourth week of November at Rs.65.85 per litre. The rates were kept unchanged from the previous day’s closing price.
• After staying constant for a day, the prices slipped to Rs.65.74 per litre on 24th November in the national capital even though data showed that fuel prices improved in the international oil market.
• The rates of diesel increased towards the end of the week and closed the month at Rs.65.79 per litre. Diesel’s overall performance in Delhi was –0.003%, trending downwards.

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

October - Week 1 (1-7):

• Diesel prices in Delhi opened the first week of October at Rs.67.55 per litre. The rates witnessed a hike of 19 paise from the previous day’s closing price.
• In the national capital, the rates dropped considerably over the week with crude oil prices cooling down and reversing all gains. Consumers were required to pay Rs.67.21 per litre on October 5.
• The prices dropped further after staying constant on October 6 and closed the week at Rs.66.97 per litre. This was the lowest recorded price for the month so far. Diesel’s overall performance in Delhi was -0.85%.

October - Week 2 (8- 14):

• Diesel prices in Delhi opened the second week of October at Rs.66.87 per litre. The rates of every litre were down by 10 paise when compared to the previous day’s closing price.
• The rates of diesel slid further after staying constant for the next day. The drop in the prices was accounted fluctuating crude oil prices due to growing concerns about global economic growth and demand of fuel.
• The rates of diesel closed the week in Delhi at Rs.66.52 per litre. This was the lowest recorded price of diesel in Delhi for the month of October till date. Diesel’s overall performance in the national capital was -1.52%, trending downwards.

October - Week 3 (15 – 21):

• Diesel price in Delhi opened third week of October at Rs.66.47 per litre. The rates saw a decline of 5 paise for every litre when compared to the rates charged on the previous day.
• The prices declined towards end of the week after staying constant for the first few days of the third week. The rates saw a decline of 10 paise on 18 October to cost Rs.66.37 for every litre in the national capital.
• The rates of diesel closed the week at Rs.66.23 per litre. This was the lowest recorded price for the month of October till date. Diesel’s overall performance in Delhi was -1.95%, trending downwards.

October - Week 4 (22 – 28):

• The price of diesel in Delhi opened at Rs.66.17 at the beginning of the fourth week. When compared to the rate of the previous day, there was a dip of 6 paise in the rate of the fuel.
• The price of the crude oil witnessed a dip in the international market. However, Brent oil was being traded at over $60 per barrel.
• At the end of the fourth week, the diesel price in Delhi stood at Rs.66.01 in Bengaluru which has been the lowest recorded rate for the fuel in the month of October. There was a dip of -2.28% in the overall performance of diesel in Bengaluru.

October - Week 5 (29-31):

• Diesel price in Delhi opened at Rs.65.91 per litre on the 29th of October, dropping 10 paise from the previous day’s closing price. In the international oil market, prices remained stagnant despite Russia promising to pledge a deal with OPEC to keep a check on production and support prices.
• Diesel rate in Delhi stood at Rs.65.91 on the 31st of October, unchanged from its previous day’s closing price. Meanwhile, in the international oil market, crude prices dipped after an unprecedented rise in US inventories.
• In the month of October, diesel saw a steady decline in its prices. The overall performance of diesel price in Delhi was -2.42%, trending downwards.

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

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%.

September - Week 2 (8-14)

• Diesel price in Delhi opened at Rs.65.12 per litre in Delhi on the 8th of September—unchanged from the previous day’s closing price. It’s also the lowest recorded price for the month of September. Meanwhile, in the international oil industry, crude futures dropped after participants reduced positions due to a weak trend in global markets.
• The price of diesel remained unchanged for a day before rising again on the 10th of September, recording Rs.65.17 per litre. The hike in prices was primarily due to a sharp drop in US inventories.
• Diesel rose sharply in the next few days, closing the week at Rs.65.40 per litre. The overall performance of diesel was 0.21% and going by the current trend, it’s safe to say that diesel’s going to witness a fair hike in the coming days.

September - Week 3 (15-21)

• Diesel price in Delhi opened at Rs.65.46 per litre in Delhi on the 15th of September 6 paise higher than the previous day’s closing price.
• After staying stable for a day, diesel prices rose by 15 paise, recording Rs.65.61 per litre on 17 September. Meanwhile, in the international market prices slid after Saudi Arabia’s energy minister stated the kingdom will restore lost oil production by the end of the month.
• Price of diesel in Delhi closed the week at Rs.65.56 per litre, its highest recorded price in the month of September. The substantial increase in petrol prices was primarily due to last week’s drone attack on Saudi Arabia’s Aramco oil refinery. The overall performance of petrol was 1.99%, trending upwards.

September - Week 4 (22-30)

• Diesel price in Delhi opened the last week of September at Rs.66.77 per litre. Compared to what was charged the previous day, the prices increased by 21 paise per litre.
• Over the next few days, Oil Marketing Companies (OMCs) continued to hike the prices in the capital due to geopolitical tensions. The cost for a litre of diesel climbed to Rs.67.27 on 27 September before remaining constant for the next two days.
• In Delhi, diesel price closed the week at Rs.67.36 per litre. The increase in the prices over the week was accounted to drone attack carried out on Aramco oil refinery. The overall performance of diesel for the month in Delhi was 3.21%, trending upwards.

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

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)

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

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

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.

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.

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.