• Diesel Price In Guntur Today

    Daily Diesel Rates
    Date Diesel ( / liter)
    12 Dec 2018 ₹ 69.69
    11 Dec 2018 ₹ 69.69
    10 Dec 2018 ₹ 69.9
    09 Dec 2018 ₹ 70.67
    08 Dec 2018 ₹ 70.67
    07 Dec 2018 ₹ 70.67
    06 Dec 2018 ₹ 71.1
    05 Dec 2018 ₹ 71.55
    04 Dec 2018 ₹ 71.55
    03 Dec 2018 ₹ 71.83

    Diesel Price in Guntur

    Diesel price in Guntur is increasing rapidly in response to growing rates of crude oil. According to fuel companies, the price of crude oil mounted by 15%-17% in the last 90 days. They also reported a one-rupee hike in dealers’ commission recently. The fuel rate primarily consists of a central levy and a state-level Value-added Tax (VAT). The central levy is currently charged at Rs.15.33 per litre whereas the VAT is levied at 30.86% in Andhra Pradesh. These details were authenticated by Petroleum Planning and Analysis Cell in September last year.

    Analysis of Diesel Rate in Guntur last few days

    We can see the fuel price moving both upwards and downwards in the last 10 days. On 13 March 2018, the fuel was priced at Rs.70.15 a litre in Guntur. It remained steady next day. The fuel rate stood at Rs.70.17 per litre on 15 March 2018 and Rs.70.11 per litre on 16 March 2018. On 19 March 2018, the fuel price in Guntur further slid to Rs.70.02 per litre. The next day it retailed at Rs.70.10 per litre. The diesel rates in Guntur were Rs.70.18 per litre and Rs.70.32 per litre respectively on 23 and 24 March 2018. Fuel users may anticipate the similar trend.

    Also Know: Petrol Price In Guntur

    Taxes on Diesel in Guntur

    Like mentioned in the previous section, diesel and petrol are taxed at the central level and the state level. The Central Government has made several changes as far as the VAT is concerned. Let’s look at the historical data. The excise duty on the fuel (diesel) was Rs.3.46 per litre in November 2014. Further, it increased to Rs.17.33 per litre in August 2017. The Central Government of India further revised to Rs.15.33 per litre in the month of February 2018. The government may change it whenever needed. If you observe, the current diesel prices in Guntur are high compared to Bangalore, Delhi, Mysore etc.

    Impact of Dynamic Fuel Pricing on Today’s Diesel Price in Guntur

    We are in the era of dynamic fuel pricing currently. It is a daily fuel reviewing methodology adopted in India previous year. The Indian fuel retailers, including IOL, HPCL and BPCL will offer a completely revised diesel rate to fuel buyers each day at 06:00 a.m. In lieu of considering the fortnightly-average fuel rate, fuel corporations in the city of Guntur will consider the daily variations in the exchange ratio and crude oil rates. This is how the fuel rate is determined and reset. It has been successful in India like other nations such as Japan, Australia and the United States of America (USA).

    Merits of Dynamic Fuel Pricing

    • Fuel Transparency: In the previously used fuel revision system, bringing transparency in the fuel revision system was tough for fuel retailers. The daily fuel pricing methodology enables the Indian fuel companies to steadily assure the transparency in reviewing and determining fuel prices in Guntur.
    • OMCs Efficiency: The three state-run fuel retailers can undoubtedly improve their operational competence by reducing the quantum of time and capital needed to manage day-to-day operations. They can even assure the consistent distribution of diesel to the consumers in the city.
    • Consumer Benefits: Fuel users can avail significant benefits from the system. Let’s presume that the cost of a litre of unrefined oil reduces by Rs.2 per litre today, the closing price of unrefined oil is taken into account to determine the diesel price in Guntur tomorrow.

    Tracing Today’s Diesel Price in Guntur

    Today’s diesel rate in Guntur can be traced using many options. Downloading the mobile applications is the best way. Today, fuel consumers across the country have been using Fuel@IOC, SmartDrive and My HPCL in order to obtain current fuel rates. All the three mobile applications have unparalleled characteristics. They can be used for other purposes as well. For instance, SmartDrive, which is a tailor-made mobile app designed by Bharat Petroleum, also allows you collect details related to car or two-wheeler insurance policies.

    Calculation of Diesel Price in Guntur

    Diesel rate in Guntur = Commission charged by dealers + VAT levied by the State Government of Andhra Pradesh + Crude oil costs + Central levy + Pollution cess

    • VAT: Value-added Tax is charged by the concerned state government. The State Government of Andhra Pradesh imposes a state-level tax at 30.86%. So, 30.86% of Rs.52.12 was Rs.16.08 as of 26 March 2018.
    • Central levy: This is a prime element in the retail selling price of diesel in Guntur. As of 26 March 2018, it was Rs.15.33 a litre. We have discussed this section in the earlier section.
    • Crude Oil Cost: The cost of crude oil is quoted in international markets. It is based on the political trends in oil-extracting companies, the changes in the supply and demand for unrefined oil, the current and forecasted weather reports, etc. Crude oil prices in March 2018 jumped to $64. When converted into the domestic currency, the price of a litre of unrefined oil will be Rs.26.50 approximately.

    Forces affecting Fuel Prices in Guntur

    • Crude Oil Rates: Crude oil rates will have a direct impact on fuel rates in Guntur. The buying price of diesel shall drop when crude oil rates fall. On the other hand, the fuel rate will increase when the price of crude oil increases.
    • Currency Ratio: A currency ratio expresses the value of one currency against some other currency. With regard to the USD-INR, this exchange ratio gives us the value of the USD against the INR. It will change on a daily basis. If the INR gains or falls against the USD, the latest diesel price in Guntur gets affected.
    • State and Central Taxes: Taxes have a greater impact on fuel prices in Guntur. For instance, if the State Government of Andhra Pradesh increases the local tax, the fuel rate will go up. If it decreases, the fuel rate will fall.

    GST vs Diesel Prices in Guntur

    The current tax system directly impacts the latest diesel price in Guntur. It is actually not levied on petrol and diesel. According to tax professionals, the cost of diesel per litre shall reduce by Rs.18 a litre. In turn, it affects the earnings of the government. The GST must be levied on petrol and diesel in a manner that keeps the revenue of the central unchanged. In other words, the GST Council has to rework the existing tax rates to retain the same level of earnings.

    Also Check Diesel Price in NearBy Cities of Guntur

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    *Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.

    News About Diesel Price In Guntur Today

    • Commuters in Hyderabad want a Stable Fuel Pricing Regime

      From late September to the last few days of October, petrol and diesel prices were rising on a daily basis as a result of rising crude oil prices which had hit $86 per barrel in the international market. Commuters in Hyderabad are apparently tired of this regime, wherein rates change on a daily basis depending on the dynamic pricing structure, employed by the government.

      Some of them are now concerned that the central government has stabilised the prices just in time for the general elections in May 2019 and that they could run over the lives of commuters once the election is over. Petrol prices in Hyderabad was Rs.80.76 in May, Rs.82.94 in June, Rs.80.53 in July, Rs.83.02 in August, Rs.83.59 in September, before rocketing to Rs.89.06 in October.

      This has dropped significantly to Rs.78.53 in November, but a vast majority of the commuting population are still worried about the fluctuating prices and are hoping a see a more stable pricing regime. Some people have also accused the state government of playing it too safe wherein it said that the prices depend on the centre’s fuel policy and it doesn’t have anything in its control.

      29 November 2018

    • Diesel Prices Continue to Surge Despite a Round of Price Cuts

      Just last week, the central government led by Narendra Modi cut VAT on fuel and asked various state governments to decrease fuel prices by Rs.2.50 per litre - for both petrol and diesel. In the national capital, diesel prices went up by Rs.0.28 per litre on Friday and the commodity traded at Rs.74.90 per litre while Mumbai recorded at Rs.0.29 per litre increase, which pushed prices up to Rs.78.51 per litre.

      The worrying news for the government, however, is that despite the massive cut, the situation is continuing to worsen and global crude prices are reaching sky highs and economies like India are finding it hard to cope with the same.

      Further reports on the same have also stated that the fuel price cuts are causing significant losses for the government, with some reports saying that the administration will lose Rs.14,000 crore in revenue for every Rs.1 they decrease.

      A ministry official has said that the recent fuel price cut was a one-off and the government won’t dive into any more efforts in the near future.

      15 October 2018

    • Indian Industries Facing the Brunt of Rising Crude Oil and a Falling Rupee

      The Indian rupee and crude oil have been having a inversely proportional relationship of sorts, with the former falling significantly as a result of the latter rising. Crude prices have reached some of the highest ever figures around the world due to an increase in demand and a declining supply chain.

      In fact, reports have suggested that in the last month alone the rupee has fallen by as much as 14%, making it the lowest performing currency in all of Asia. Reports have further said that, this has had a negative impact on various Indian industries.

      For starters, manufacturers of plywood, tiles, paints and adhesives are seeing their costs rising significantly while Oil Marketing Companies (OMCs) too are facing a hard time with the rising oil prices. Power and the increasing oil prices have caused tile companies’ cost to rise up by over 20% to 22% in the last month or so, with the number likely to increase if the fuel prices do not let up any time soon.

      Paint companies too are seeing prices increase by up to 350 to 400 basis points, which is basically 3.5% to 4% due to increasing costs.

      24 September 2018

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