Diesel Price In Gujarat Today

  • Today's Diesel Price ( 18 Mar 2019 )
    ₹ 69.91
    Current Diesel Price Per Liter
    Compare Diesel Price (Today & Yesterday)
    (18 Mar 2019)
    (17 Mar 2019)
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    Diesel ( / litre) ₹ 69.91 ₹ 70.23 ₹ -0.32 ↓
    Daily Diesel Rates
    Date Diesel ( / litre)
    18 Mar 2019 ₹ 69.91
    17 Mar 2019 ₹ 70.23
    16 Mar 2019 ₹ 70.23
    15 Mar 2019 ₹ 70.23
    14 Mar 2019 ₹ 70.34
    13 Mar 2019 ₹ 70.39
    12 Mar 2019 ₹ 70.39
    11 Mar 2019 ₹ 70.46
    10 Mar 2019 ₹ 70.57
    09 Mar 2019 ₹ 70.57
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    Diesel Price in Gujarat

    Diesel price in Gujarat, the westernmost state in India, has seen an upward trend until the recent tax cuts by the central and state governments respectively in October 2017. Following the central government’s request to reduce state level taxes on diesel and petrol, Gujarat is the first state to bring down the value added tax on both diesel and petrol.

    As Gujarat’s economy is majorly driven by agriculture and industrial production, consumption of diesel is apparently high. Added to it is the increasing population in Gujarat’s major cities like Ahmedabad, Surat, and Vadodara. With more and more people preferring to travel on their own private vehicles the demand for fossil fuel is increasing.

    Would that higher consumption and demand lead to higher diesel prices in the state? Read further to find the answer. You may also get to know about the factors affecting the diesel price in Gujarat, impact of GST on diesel price and about the daily revision of diesel prices in detail.

    Factors Affecting Diesel Rate in Gujarat

    To understand the various factors that affect diesel price in the state, one needs to understand various components involved in diesel pricing.

    The price of diesel, unlike most of the other commodities, does not just include the product price but various other components that add up to the retail selling price of diesel.

    The primary elements of diesel pricing include the C&F (cost and freight) price, which is nothing but the rate at which Indian oil companies purchase crude oil from the foreign companies, central and state government taxes, transportation charges, operating costs and margin. Any change in the aforementioned elements would bring variation in the diesel price.

    The state specific factor that would affect diesel price in Gujarat is the value added tax (VAT) levied by the state government.

    VAT charged on diesel is different for different states. Hence the diesel price in Gujarat primarily varies from other states due to the tax charged by the state government.

    Other factors that affect diesel price in Gujarat similar to other Indian states are the international crude oil price, the US dollar to rupee exchange rate, and the central government tax.

    India is a major importer of crude oil purchasing about 75% of its oil requirements from other oil producing nations. Price of crude oil is volatile in nature as it is based on various factors such as the demand and supply in the international markets, political stability in the oil producing nations, climatic conditions and others. Therefore any change in the crude oil price will directly affect the price of diesel in India.

    Also Check: Diesel Price in Surat

    The exchange rate is another factor that impacts the diesel price as oil trading typically happens in dollars. The strengthening dollar is always a threat for the oil prices in India.

    Other factors that marginally impact diesel pricing in India are the profit margins of dealers and OMCs, transportation and other operation charges. As these factors do not vary on a day to day basis, their impact on the diesel price on a daily basis is negligible.

    State Taxes and Diesel Price in Gujarat

    As detailed earlier, state specific taxes make diesel price in Gujarat different from that of other states. Currently the Gujarat government levies 25% VAT on diesel effective from 10 October 2017.

    The state recently revised its tax rate following the central government’s request to reduce the state-level taxes on petrol and diesel. Prior to the revision, VAT on diesel in Gujarat was 28.96%.

    Following the VAT cut diesel price in Gujarat came down by Rs. 2.72 per litre.

    How often Diesel Prices are Revised in Gujarat

    Unlike the previous fortnightly revision, diesel prices in Gujarat, just like in rest of the India, are being revised on a daily basis.

    The new pricing system, also called dynamic fuel pricing, was introduced in June 2017, to bring transparency in fuel pricing and also to align the fuel prices in India to that in international markets. Any change in the global oil prices thus immediately impact the end customer on a daily basis.

    As per the new pricing system, all the petrol pumps in the state will update the revised diesel price every day by 6 a.m. While the automated petrol pumps that are controlled centrally get an auto update of diesel price, the non-automated pumps have to do it manually.

    Customers can fetch the daily revised diesel prices from the oil company websites and also from the company’s mobile apps, which are compatible on both android and iOS platforms.

    For petrol pump specific prices they have to send an SMS along with the dealer code, which is available at the respective petrol pumps, to a specific number as allotted by the oil companies.

    Effect of GST on Gujarat Diesel Costs

    GST or the goods and services tax is the new tax regime introduced in India since July 2017. Following the implementation of GST, the prices of various goods and services have been impacted both positively and negatively, while few have been completed exempted from tax.

    Coming to diesel and other petroleum products, many have been apprehensive about the impact of GST on diesel and petrol prices as more than 50% of their prices are composed of taxes.

    Well, to everyone’s surprise both diesel and petrol were kept outside the purview of GST. They are still being taxes as per the old tax regime, where state and central governments collect separate taxes on both the commodities.

    Hence the effect of GST on diesel for now is nil. If diesel is brought under GST, its price may come down or go up based on the amount of tax that will be charged. We can expect a price cut only when the new GST is less than the current total tax on diesel.

    Diesel Rate versus Petrol Rate in Gujarat

    Diesel price in Gujarat, similar to other Indian states, is lesser than petrol prices because of the difference in the taxes being levied on both the commodities. However, compared to other states the price difference between petrol and diesel in Gujarat is relatively less as the state government charges same amount of VAT on both diesel and petrol. It currently charges 25% VAT on both the fuels.

    The major factor that contributes to the price difference between petrol and diesel is the central excise tax which is currently at Rs. 19.48 on a litre of petrol and Rs. 15.33 on a litre of diesel. Other factors that bring marginal difference are the dealer’s commission, OMCs profit margin and other charges.

    Also Check Diesel Price in NearBy Cities of Gujarat

    *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.

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    News About Diesel Price In Gujarat

    • Diesel Prices Declines Below Rs.70 per litre Mark in Mumbai

      Diesel prices in Mumbai dropped below Rs.70 per litre for the first time since January this year and petrol prices are the lowest since then. After the revision, petrol is being sold at Rs.77.50 per litre and diesel at Rs.69.77 per litre in Mumbai. In Delhi, petrol prices were cut by 21 paise and diesel by 27 paise to be sold at Rs.71.72 and Rs.66.39, respectively. In Chennai, petrol is being sold at Rs.74.41 and diesel at Rs.70.09 per litre, while in Kolkata, petrol costs Rs.73.75 per litre and diesel is available at Rs.68.12 per litre. During this financial year, the global crude oil prices were stable which kept fuel prices stable as well, with petrol sold around Rs.73 to Rs.74 per litre; however, prices began to incline sharply almost daily by mid-August. By early October, petrol prices touched record high with a litre costing Rs.84 per litre in Delhi. Since then, prices have declined by nearly Rs.14 per litre due to the slump in crude oil prices in the international market.

      6 December 2018

    • Petrol and Diesel Rates Reduced Amid Rising Oil Supplies

      Petrol and diesel prices were reduced by State-owned oil companies for the 13th straight day offering much-needed relief to consumers. With the revision, a litre of petrol costs Rs.79.55 in Delhi, Rs.85.04 in Mumbai, Rs.81.43 in Kolkata and Rs.82.65 in Chennai. Diesel prices were revised as well with a litre of the fuel being sold at Rs.73.78 in Delhi, Rs.77.32 in Mumbai, Rs.75.63 in Kolkata and Rs.78 in Chennai. The fall in rates in this comes amid the fall in the global crude oil price weighed down by the rise in the supply of crude oil in the international market. Benchmark Brent Crude was trading 0.4% lower to $77.05 per barrel. Despite the approaching deadline of U.S. sanctions on Iran, the supply in crude oil is on the rise which has led to a fall in the global crude oil price. Also, the rupee has appreciated over the U.S. dollar which has led to the fall in fuel prices in the country.

      2 November 2018

    • Diesel Prices in Mumbai cost Rs.79.89 per litre

      At a time when the prices of petrol and diesel are hiked almost every day, Wednesday emerged as a rare day when Oil Marketing Companies (OMCs) refrained from increasing the rates of diesel in the country. Even though the prices were not hiked, the rates charged for every litre of diesel in the national capital and financial capital of the country are at all-time highs. Consumers staying in the four metro cities of the country, i.e., Delhi, Mumbai, Chennai, and Kolkata are needing to pay Rs.75.25, Rs.79.89, Rs.79.57, and Rs.77.10 respectively for one litre of diesel.

      It needs to be mentioned that of late, the prices of diesel has seen a steep rise. This has been accounted to high crude oil prices and fall of the rupee against the US dollar. As of Wednesday, Brent crude, the global benchmark for crude oil traded near $85 per barrel while rupee registered a new all-time low of Rs.73.34 against the US dollar. It is noteworthy to mention that petrol and diesel prices in the country are revised on a daily basis as part of the daily price revision system. The rates are determined after taking into consideration the crude oil and rupee-dollar forex rates.

      12 October 2018

    • Diesel Price Close to Rs.80 per litre in Mumbai

      Diesel price further accelerated to Rs.79.89 a litre in the city of Mumbai. The fuel price moved to Rs.75.25 a litre in the city of Delhi, Rs.79.57 a litre in the city of Chennai and Rs.77.10 a litre in the city of Kolkata respectively. Hindustan Petroleum, Bharat Petroleum and Indian Oil increased the price of petrol as well caused by a rise in the cost of Brent crude oil on Tuesday, 2 October 2018. The Brent crude oil price has surpassed the $85 mark.

      Excise duty and value-added tax are a part of fuel prices. No diesel and petrol prices can be the same because of the exclusion of diesel and petrol under Goods and Services Tax (GST). The Government of Delhi imposes the sales tax of 17.4% on diesel and 27% on petrol whereas the sales taxes in Maharashtra, West Bengal and Tamil Nadu are higher compared to Delhi. It was decided by Himachal Pradesh, Punjab, Haryana, Uttar Pradesh, Chandigarh and Haryana to adopt the unified taxes on the products extracted from crude oil.

      3 October 2018

    • Petrol Prices Remain Unchanged on Wednesday

      On Wednesday, after reducing for 14 days in a row, petrol prices remained unchanged. In the national capital, petrol rates remained unaffected at Rs.76.43 a litre according to Indian Oil Corporation Limited. Over the last 14 days, in Delhi, petrol prices have been lowered by Rs.2 per litre. Today, petrol prices remained unchanged at Rs.79.10 a litre in Kolkata, Rs.84.26 a litre in Mumbai and Rs.79.33 a litre in Chennai respectively. Between 14 May and 29 May, petrol prices were reduced by Rs.3.80 a litre by Indian Oil Corporation Limited in the national capital.

      14 June 2018

    • Diesel Prices in India have been Revised 14 Times over the Last Fortnight

      Over the last 15-17 days, fuel companies have revised diesel prices 14 times. In Delhi, petrol was priced one again at a record high. Monday, at 06:00 a.m., fuel companies in Delhi announced a price range of Rs.73.95 per litre for petrol. In other prime cities, including Mumbai, Kolkata and Chennai, the fuel was Rs.69.02 per litre in Mumbai, Rs.67.51 per litre in Kolkata and Rs.68.38 per litre respectively according to reliable sources.

      Since March 2018, diesel prices have been modified 14 times in all regions. Between January 2018 and March 2018, in Chennai, Delhi, Mumbai and Kolkata, the diesel prices were up 5.5 per litre, 5.18 per litre, Rs.5.75 per litre and Rs.5.21 per litre correspondingly. The fuel prices will change in sync with the USD/INR conversion rate and international crude oil prices. According to a report, on Tuesday, the price of Brent crude oil reset to $71 per barrel. On the other hand, Brent futures were priced lower than $70 a barrel.

      5 April 2018

    • Diesel Rates continue to tumble

      Over the last 9 days, diesel rates have been cut 7 times in prime cities of India, including Kolkata, Mumbai, Chennai and Delhi. The diesel price was lessened by 30-32 paise per litre today compared to the previous day’s price. They were at Rs.66.45 per litre in Chennai, Rs.65.68 per litre in Kolkata, Rs.63.02 per litre in the nation’s capital and Rs.67.11 per litre in Mumbai, as per the websites Indian oil marketing companies – India oil, BPCL, HPCL and Shell Oil.

      On 7 February, in New Delhi, the fuel traded at Rs.64.22 per litre whereas today it retailed at Rs.63.02 per litre. In Mumbai, the fuel was valued at Rs.68.39 per litre on 7 February. Today, it slashed by 77 paise per litre in the city. Similarly, other two metro cities produced a marginal price fall during the same period. As far as the present year is concerned, diesel prices were down by 3.38 per litre in Kolkata city, Rs.3.62 per litre in Chennai and Rs.3.38 per litre in New Delhi.

      16 February 2018

    • Diesel Prices at all-time high since Crude Oil Surges in Overseas Markets

      On Monday, diesel prices reached to an all-time high as the price of unrefined oil extended to advance in international markets, influencing the import bill of India and inflation. As per the information revealed by Indian Oil Company, a renowned oil marketing company in India, the diesel price crossed Rs.61.74 per litre in Delhi, the capital city of India, whereas the petrol price reached Rs.71.18 per litre. In overseas markets, the price of crude oil poured as the production cut by OPEC countries and Russia constrained supplies. Crude oil accounts for about 90% of the operational costs of auto fuel.

      On Monday, the Indian basket of crude oil became costlier by 64% since June to $76.26, affecting the oil import bill of India and inflation. As per the official information revealed by the commerce ministry, the country’s import oil bill increased 28% in December to Rs.66, 464 crore from the same time before one year. Fuel inflation increased to 9.16% in December against 8.82% in the last month as per the information revealed by the Central Statistics Office (CSO). The surge in the fuel rate restricted the benefit that dropping retail food rates had on retail price index-based inflation. Over the next few months, crude oil prices will cool off according to experts.

      16 January 2018

    • Oil Minister puts Obligation of Relief on States since Fuel Rates and Crude Sparkle up

      Dharmendra Pradhan, Oil Minister, said the obligation of offering relief to fuel consumers lay with respective state governments. Petrol and diesel are taxed by both state and central governments. The central government diminished the excise duty by Rs.2 per litre. Oil Minister urged state governments to reduce the VAT. The consistent price rise in crude oil has strapped pump prices to record levels in several cities. In Delhi, the diesel price reached the highest price in Delhi. The mixture of crude bought by India turned costlier, averaging $62.29 per barrel in December. In May 2015, this is likely to shoot beyond $63.82. The growing pump prices are bringing back into pubic focus the Centre’s initiative of cumulatively raising excise duty on diesel by Rs.13.47 a litre and petrol by Rs.11.77 per litre.

      10 January 2018

    • Gujarat Government Cuts VAT on Diesel Making it Cheaper in the State

      As a Diwali gift to the people of Gujarat, the state government reduced the value added tax (VAT) on diesel by 4%.

      The move follows the central government’s recent cut in excise duty on fuel and comes as a response to the government’s plea to the respective state governments to reduce taxation on fuel to relieve people from the spiralling diesel prices.

      The new tax rates, which will become effective from midnight, will cut the diesel rate in Gujarat to Rs. 60.77 per litre.

      Though the rate cut leaves the Gujarat government with a decrease in its annual revenue by Rs. 2316 crore, it is hopeful about the increase in sales as cheaper rate will attract sales from bordering states, thus will compensate the losses to some extent.

      10 October 2017

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