• Diesel Price In Hisar Today

    Daily Rates

    Diesel Price in Hisar

    The city of Hisar is situated in the Indian state of Haryana and is closer to the National Capital, New Delhi. Since Hisar is in close proximity to the National Capital Region, the city is rapidly growing in terms of size and population. In the recent past, Hisar is known as the country’s largest galvanised iron manufacturing city. The city also has a huge presence of steel industry units. With the rise in population and industrialisation, transportation mainly depends on fuel to aid its economy.

    People of Hisar depend on the public transport system and utilise buses as a major mode of commuting between places. However, private vehicles such as four-wheelers and two-wheelers also form the main part of the city’s vehicular traffic. With the city’s vehicular traffic increasing by the day, fuel consumption have increased in tandem with the demand. Let’s review the factors which affect or impact fuel prices in the city of Hisar.

    Also Know: Petrol Price In Hisar

    The diesel price in Hisar is influenced by two main factors - international and domestic. While the international factors include the price for a barrel of crude oil in the global market as well as the exchange rate of the USD over INR, domestic factors include taxes, profit margins and dealer commission. Below is a detailed analysis of both the factors.

    Also Check: Diesel Price in Delhi

    Factors Which Influence the Diesel Rate in Hisar

    The Oil-Marketing Companies (OMCs) such as Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) import nearly 70% of crude oil to the country. These companies purchase crude oil in USD and then sell it in INR. Any fluctuations in crude oil rates, directly impact the diesel price.

    • International Factor: As mentioned, the global crude oil price is the biggest component in determining the diesel rates in Hisar and other cities of India. Oil-producing countries sell crude or unrefined oil in the global market and in turn, countries such as India refine, transport and sell refined oil in the market. The global crude oil price is influenced by any production cuts, demand for crude oil, seasonal variations, etc. The price for a barrel of crude oil increases when there’s a rise in the demand for the commodity and the oil-producing countries declare a cut in production. Other main influence in determining fuel prices is the exchange rate of the USD over other emerging currencies. Whenever, there’s a decrease in the value of the US dollar, the price of diesel decreases accordingly.
    • Domestic Factor: The current diesel price in Hisar is also influenced by domestic factors such as taxes, profit margins and dealer commission. OMCs add their profit margins which includes their marketing costs, freight and other charges and sell diesel to dealers or petrol pump owners. Then comes the two main domestic factors, the taxes levied by the State and the Centre. The Central Government charges excise duty, while the State implies Value Added Tax (VAT), which together represent more than 50% of the diesel rate in Hisar. While the Centre charges excise duty of Rs.15.33 for a litre of diesel, the State Government of Haryana levies 17.22% as VAT. Apart from these charges, dealers add their commission and other charges such as pollution cess as surcharge. All of this put together form the retail selling price of diesel in Hisar.

    How Often are Diesel Prices Revised in Hisar?

    The diesel price in Hisar is revised on a daily basis under the new ‘dynamic fuel pricing’ mechanism. The new pricing mechanism takes into account the current crude oil price and foreign currency exchange rate before its revised every day at 6 a.m. IST. This system of daily revision help fuel companies to offset any surge in the international crude oil price. The diesel price is updated automatically at any of the automated petrol pumps, while it’s manually updated in non-automated fuel stations.

    Calculation of Diesel Rate in Hisar

    Diesel rate in Hisar = Cost of Crude oil + Taxes + Dealer Commission + OMCs Profit Margin

    How to Check Daily Diesel Price in Hisar?

    Since diesel prices are changed on a daily basis, there are several methods to track the daily diesel price in Hisar. OMCs have launched smartphone mobile apps, SMS services, online portal updates and can also be tracked by visiting their respective petrol pumps.

    For those who wish to download and use smartphone mobile apps, IOCL customers can take advantage of the ‘Fuel@IOC’ app, BPCL customers can use the ‘SmartDrive’ app, while HPCL customers can utilise the ‘My HPCL’ to track daily fuel rates in a city. Customers can also use the services of SMS to get the current diesel rate. Below is the process for your reference.

    • IOCL: SMS RSPdealer code to 9224992249.
    • HPCL: SMS HPPRICEdealer code to 9222201122.
    • BPCL: SMS RSPdealer code to 9223112222.

    Customers can also visit OMCs respective online portal to find daily fuel rates of several cities in India. Besides, customers can call the customer care of the respective oil companies to track the fuel price.

    Is the Diesel Price in Hisar Similar to Other Cities?

    While the Centre charges excise duty on diesel, which remains similar across cities, the State’s VAT differs. The State of Haryana implies a different VAT on diesel compared to other cities, hence, the diesel price in Hisar is not similar to other cities in the country.

    Is GST Applicable on Diesel in Hisar?

    The Goods and Service Tax (GST) is the current taxation system in India. All commodities and services come under the framework of the GST. However, petroleum products including diesel and petrol have been kept away from attracting GST. Both the Centre and states rely on the revenue generated from the sale of diesel and petrol in the country. The taxes currently charged on diesel is much higher than the highest tax slab of the GST. Hence, to avoid losses on the Centre and states exchequer, diesel does not come under the ambit of the new taxation system. Therefore, GST is not applicable on diesel in Hisar.

    Also Check Diesel Price in NearBy Cities of Hisar

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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 Hisar Today

    • Decreasing Crude Oil Prices Leads to a Rise in Crude Oil Speculative Positions

      With falling crude oil prices, the option market has witnessed a hike and the interest in the derivative marketplace has augmented. Volumes have not been lowered despite a downfall in crude oil rates. In the first week of October 2018, crude oil price reached the maximum price of $86 a barrel. After that, they began falling. In the recent trading sessions, oil rates have fallen sharply even though the sanctions of the United States of America came into effect on the 4th of November 2018. Eight nations got waivers in order to extend purchasing crude oil from Iran for a period of six months.

      Bearish positions started accumulating and crude oil rates also began declining when the higher inventory reports began coming in the international and Indian markets. The volumes on the multi-commodity exchange, which is a platform for transacting commodities, also increased. As the rates have decreased by 30%, volumes have increased by 15%. The production of crude oil from the United States of America (USA) is comprehended to reach a fresh rise of 12 million barrels per day (bpd) in 2019. The production of crude oil from the OPEC increased from 32.77 million barrels to 32.90 million barrels per day in October 2018.

      29 November 2018

    • Diesel Prices Hiked by Rs.0.27 in the National Capital

      The price of diesel was hiked by Rs.0.27 in the national capital on Thursday. The rates of diesel were hiked by Rs.0.29 in Mumbai as well. Following the increase in the prices, every litre of diesel in the metro cities of Delhi and Mumbai cost Rs.74.62 and Rs.78.22 respectively. The increase in the rates of diesel came after the central government had recently cut the prices of both petrol and diesel by Rs.2.50. Of the Rs.2.50, Rs.1.50 per litre was on account of reduction in excise duty while the rest was absorbed the Oil Marketing Companies (OMCs). The cut in the prices was done to rein in the rising fuel prices in the country. It needs to be mentioned that prices of both petrol and diesel had climbed to unprecedented levels due to reasons like high international crude oil prices, fall of rupee against the US dollar and high excise duty imposed on petrol and diesel by the government.

      12 October 2018

    • Oil Companies Keep Diesel Rates Unchanged, Hike Petrol Prices

      Oil companies kept diesel prices unchanged while increasing petrol prices by 7 paise per litre today. Petrol price was increased by 6 paise per litre in Delhi, Mumbai and Kolkata, while it was hiked by 7 paise a litre in Chennai. With the revision, petrol is being sold at Rs.82.22 in Delhi, Rs.89.60 in Mumbai, Rs.84.07 in Kolkata and Rs.85.48 in Chennai. Diesel prices, on the other hand, is being retailed at Rs.73.87 a litre in Delhi, Rs.78.42 in Mumbai, Rs.75.72 in Kolkata and Rs.78.10 in Chennai. New rates are effective from 6:00 am IST today. Oil companies have increased petrol and diesel prices almost on a daily basis except on 5th and 12th September. Fuel prices are revised based on the global crude oil price and the exchange rate of the rupee over the US dollar. With the rise in the global crude oil rate coupled with a weaker rupee, petrol and diesel prices have surged to all-time highs in the recent past. Fuel rates are revised on a daily basis under the dynamic fuel pricing mechanism.

      21 September 2018

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