Diesel Price In Hyderabad Today

  • Today's Diesel Price in Hyderabad( 15 Sep 2019 )
    ₹ 71.3
    Current Diesel Price Per Liter
    Compare Diesel Price in Hyderabad (Today & Yesterday)
    (15 Sep 2019)
    (14 Sep 2019)
    Rate Change
    Diesel ( / litre) ₹ 71.3 ₹ 71.24 ₹ 0.06 ↑
    Diesel Price in Hyderabad - Last 10 Days Data
    Date Diesel ( / litre)
    15 Sep 2019 ₹ 71.3
    14 Sep 2019 ₹ 71.24
    13 Sep 2019 ₹ 71.14
    12 Sep 2019 ₹ 71.04
    11 Sep 2019 ₹ 70.99
    10 Sep 2019 ₹ 70.99
    09 Sep 2019 ₹ 70.93
    08 Sep 2019 ₹ 70.93
    07 Sep 2019 ₹ 70.93
    06 Sep 2019 ₹ 70.99

    Diesel Rate Trend in Hyderabad

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    Diesel Price in Hyderabad

    Diesel prices in Hyderabad were revised every 15 days, updating the price on the 1st and 16th of every month. This was based on the average global price in the preceding fortnight and the rupee-dollar exchange rate. However, India moved to a new pricing mechanism known as the ‘Dynamic Fuel Pricing’, which came into effect from 16 June 2017.

    Petrol and diesel prices will be revised daily by considering the 14-day average price of crude oil and the rupee-dollar exchange rate. New fuel prices are effective from 6:00 am IST. State-owned Oil Marketing Companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise and fix the final selling price of diesel and petrol.

    Hyderabad is one of the fastest growing cities in India with an increasing number of people migrating to the city. Diesel consumption in Hyderabad has increased in recent years due to an increase in population. Public transport and private vehicles use diesel extensively to travel across the city, making the fuel an essential commodity.

    Also Check Diesel Price in Metro Cities

    Dynamic Fuel Pricing Meaning:

    Why do diesel prices fluctuate in India? Fuel prices are currently revised according to the international crude oil price along with the exchange rate of the rupee over the U.S. dollar. With the daily revision in diesel prices, oil companies can offset any losses as well as pass on any benefits to the consumer.

    The move to revise fuel prices daily in India was aimed at passing on the benefit of even the smallest change to consumers and dealers. As mentioned, prices used to be revised every fortnight, however, this led to a sudden spike or decline in fuel prices, burdening consumers.

    The ‘Dynamic Fuel Pricing’ mechanism helps both oil companies as well as consumers from any sudden leaps in prices that need to be brought into effect at the end of a fortnight.

    Factors Affecting the Diesel Price in Hyderabad:

    While the global crude oil price and the rupee-dollar exchange rate are the biggest component of the diesel price in Hyderabad, there are several other components which form the calculation of the diesel price in Hyderabad as well. Freight charges, entry tax, refinery charges, oil firms’ margin and logistics are charged before the basic cost of diesel is fixed. Apart from these, taxes such as excise duty levied by the Centre and the local sales tax or VAT is charged by the respective state government.

    That said, crude oil prices in the international markets and the rupee-dollar exchange rate are dynamic in nature, impacting the price we pay for a litre of diesel in India. Let’s understand why crude oil prices fluctuate in detail.

    • Supply and Demand for Crude Oil:While the demand for crude oil is usually steady in the international market, the supply fluctuates due to several reasons. The Organisation of Petroleum Exporting Countries (OPEC) is the biggest supplier of crude oil in the market, thereby influencing oil rates. OPEC’s policies are impacted by any geopolitical developments, therefore, any pressure on any one of the OPEC members leads to a shortage in supply of crude oil, rising crude oil prices and vice versa.
    • Geopolitical Tensions:Crude oil prices are often affected by geopolitical tensions such as political events and crisis. War, natural disasters and political upheaval leads to a shortage in supply, leading to an incline in oil prices. Also, conflicts between any oil-producing or oil-consuming countries could potentially decline the supply of oil in the market, which influences crude to trade higher.
    • Future Supply and Reserve:Crude oil is reserved by the biggest oil-producing or oil-consuming countries to keep their economies healthy in the event of an oil price increase. These countries stock up oil when prices are low and then spread across the economy to keep prices steady.

    Quarterly Diesel Price Trend in Hyderabad between January and March 2019

    January February March
    Opening date price Rs.68.28/litre Rs.71.39/litre Rs.72.95/litre
    Closing date price Rs.71.58/litre Rs.72.80/litre Rs.72.06/litre
    Highest price Rs.71.79/litre recorded between 25th, 26th, 27th and 28th Rs.72.80/litre recorded on 28th Rs.73.52/litre recorded on 5th, 6th and 7th
    Lowest price Rs.67.70/litre recorded on 7th, 8th and 9th Rs.71.17/litre recorded on 5th and 6th Rs.72.06/litre recorded on 29th, 30th and 31st
    Trend Upward Upward Downward
    % Change 4.83 1.97% -1.22%

    Quarterly Diesel Price Trend in Hyderabad between October and December 2018

    October November December
    Opening date price Rs.81.75 a litre Rs.80.31 a litre Rs.73.24 a litre
    Closing date price Rs.80.31 a litre Rs.73.77 a litre Rs.68.28 a litre
    Highest price Rs.81.92 a litre recorded on 2 Rs.80.31 a litre recorded on 1 Rs.73.24 a litre recorded on 1
    Lowest price Rs.79.72 a litre recorded on 6 Rs.73.77 a litre recorded on 30 Rs.68.28 a litre recorded on 31
    Trend Declining Declining Declining
    % Change -1.76 -8.14 -6.77

    Diesel Price Trend in Hyderabad between October and December 2018

    • State-run companies offered a price of Rs.81.75 a litre on the opening day of October and Rs.81.92 a litre on the second day under dynamic fuel pricing.
    • As an effort to reduce the burden on commoners, the government declared an excise duty cut of Rs.1.5 and also appealed oil marketing companies to make fuel prices cheaper by one rupee per litre.
    • The changes in the excise duty was effected on 5 October. It means that diesel rates in Hyderabad were slashed to Rs.79.40 a litre on the same day.
    • On 7, 14, 21 and 28 October, fuel rates in Hyderabad were reset to Rs.80.03 a litre, Rs.82.04 a litre, Rs.82.02 a litre and Rs.81.34 a litre respectively.
    • November commenced with a price range of Rs.80.31 a litre. The offer diminished to Rs.80.18 a litre on 2 and the same offer was retained on 3 November as well.
    • There was no change in the pricing of diesel in hyderabad between 6 and 11 of November. By the end of the first fortnight, fuel price stood at Rs.78.63 a litre in Hyderabad.
    • As expected, on 30 November, the lowest fuel rate was booked at Rs.73.77 a litre. The highest fuel price stood at Rs.80.31 a litre in the same month.
    • In November, Bharat Petroleum, Hindustan Petroleum and Indian Oil sold diesel at an average rate of Rs.78.05 a litre.
    • In the same month, diesel prices in Hyderabad were cut by 8.14% prompted by transnational influencers (exchange rate and crude oil prices).
    • On 1 and 2 December, fuel rates were revised to Rs.73.24 a litre and Rs.72.87 a litre. They were revised to Rs.71.71 a litre and Rs.71.26 a litre respectively on 6 and 7 December respectively.
    • As per the daily fuel pricing system, diesel was priced in hyderabad at Rs.71.26 a litre on 9, Rs.70.14 a litre on 14 of December respectively.
    • During the quarter, fuel pricing was significantly influenced by crude oil prices. The impact of the exchange rate was not noticeable.
    • All the three months of the quarter observed a declining trend. This was not the case in the previous quarter.
    • The Centre was criticised by foreign investors for allowing oil companies to reduce fuel prices. As the government deregularised diesel and petrol, OMCs are wholly liable to revise their prices.
    • An important aspect here to notice is that the highest diesel price was observed at the starting of each month and the lowest diesel price at the end of each month.
    • Because of an upward trend, in the earlier quarter, the highest fuel price was observed at the end of each month whereas the lowest fuel rate was observed at the beginning of the month.

    Diesel Price Trend in Hyderabad between July and September 2018

    July August September
    Opening date price Rs.73.24 a litre Rs.73.93 a litre Rs.76.60 a litre
    Closing date price Rs.73.80 a litre Rs.76.42 a litre Rs.81.35 a litre
    Highest price Rs.74.47 a litre Rs.76.42 a litre Rs.81.35 a litre
    Lowest price Rs.73.24 a litre Rs.73.93 a litre Rs.76.60 a litre
    Trend Upward Upward Upward
    % Change +0.76% +3.36% +6.20%

    Diesel Price Trend in Hyderabad in July 2018

    • Instead of revising fuel prices once a fortnight, the oil selling entities will reprice both diesel and petrol every day and announce the revised fuel rates at 06:00 am.
    • As India imports crude oil or unrefined oil from the overseas market, dynamic fuel pricing ponders the selling price of crude oil and the INR-USD exchange rate.
    • For all the 31 days of July 2018, dynamic fuel pricing was used to review diesel rate at all the diesel supply centers in Hyderabad, the common capital of Andhra Pradesh and Telangana.
    • Diesel price in hyderabad neither reduced nor stayed stable in the first half of July. Instead, they kept increasing since the dollar gained versus the currency of India.
    • In the last fifteen days, the fuel rate showed a mixed reaction since the crude oil price and the exchange rate were highly volatile. Even though diesel rates have increased in July, the growth rate was minimal.
    • The lowest price stood at Rs.73.24 a litre. It was also the opening date price for the month. Other prime cities in Andhra Pradesh have also reported the same trend.

    Diesel Rate Trend in Hyderabad in August 2018

    • Diesel price movements were interesting to notice in August 2018 since the pricing strategy of the oil companies was completely different.
    • State-run oil retailing enterprises increased the price of diesel by 13 paise per litre on 2 August and 10 paise a litre on 3 August.
    • This month also, the price of crude oil slid. But, no impact was seen on the pricing of diesel. Under dynamic fuel pricing, fuel price was Rs.74.55 per litre and the commodity continued to retail at the same price until the completion of the second week.
    • In August 2018, the price of diesel was also stable at Rs.75.30 per litre, Rs.75.22 per litre and Rs.74.94 a litre.
    • The opening and closing date prices stood at Rs.73.93 a litre and Rs.76.42 per litre. We can notice a price rise of Rs.3.50 per litre in August 2018.
    • The revision of the central tax and the sales tax has a direct impact on fuel rates. But, these two forms of taxes were not revised.

    Diesel Price Trend in Hyderabad in September 2018

    • Fuel pricing is currently controlled by the OMCs, which can either decrease or increase the fuel price. Sometimes, they can retain the same price.
    • In July and August, the trends were not alike despite a fall in the crude oil rate and the dollar-rupee rate.
    • Even in this month, diesel prices in the city of Hyderabad were on an upward trend until the last day.
    • Fuel consumers and even the political leaders voiced their concerns related to expensive diesel and petrol. The Bharat Bandh was successful in Hyderabad on 10 September.
    • Compared to July and August, the speed at which the rates of diesel went up has been higher in September. This is because of the degree of downfall in the price of petroleum per barrel.
    • While the growth rate in July was 0.76% and 3.36% in August, the growth rate in September was higher than the previous two months.
    • Diesel rate in Hyderabad increased by Rs.8 per litre this quarter. In other prime Indian cities such as Delhi, Kolkata, Chennai, Bangalore and Gujarat, the fuel retailing companies increased the price by Rs.8 per litre.
    • The price offered on the last day of September 2018 was the highest fuel rate for the whole quarter. Likewise, the price offered on the first day of July was the lowest fuel price for the same period.
    • Fuel marketing companies, while revising the price, also take into account the changes in refining costs, OMC costs, the commission charged by dealers, etc.
    • All these domestic influencers were steady in July, August and September.

    Note: In India, the price of Indian crude oil is taken into account for revising the prices of both diesel and petrol.

    Quarterly Diesel Price Trend in Hyderabad Between April and June 2018

    April 2018 May 2018 June 2018
    Opening date price Rs.70.16 a litre Rs.71.63 a litre Rs.75.26 a litre
    Closing date price Rs.71.63 a litre Rs.75.31 a litre Rs.73.24 a litre
    Highest price Rs.71.67 a litre registered on 24th Rs.75.38 a litre registered on 29th Rs.75.26 a litre registered on 1st
    Lowest price Rs.70.16 a litre registered on 1st Rs.71.63 a litre registered on 1st, 2nd, 3rd, 4th, 5th, 6th, 7th, 8th, 9th, 10th and 11th Rs.73.24 a litre registered on 27th, 28th, 29th and 30th
    Trend Upward Upward Downward
    %Change +2.10% +5.14% -2.68%
    Diesel Price Trend in Hyderabad

    Diesel Price Trend in Hyderabad in April 2018

    • On the 1st of the month, diesel was supplied at Rs.70.16 per litre, this was also the lowest diesel price of the month.
    • Diesel prices remained steady during the first week with an average price of Rs.78 per litre. State-run oil companies continued to revise diesel prices under the ‘Dynamic Fuel Pricing’ mechanism.
    • By mid-April, diesel prices in Hyderabad increased by 27 paise per litre in tandem with the rise in the global crude oil price.
    • The highest diesel price in the month stood at Rs.71.63 per litre registered on the 24th of the month.
    • By the end of the month, diesel prices reflected an upward trend of 2.10% mainly influenced by the slight increase in the crude oil price.

    Diesel Price Trend in Hyderabad in May 2018

    • The diesel price in Hyderabad on 1st stood at Rs.71.63 a litre, kept unchanged from the previous day.
    • Fuel companies kept diesel prices unchanged till the 11th of the month due to the steady rate of crude oil prices in the global market. This price was also the lowest diesel price recorded for the month.
    • Post the 11th, diesel prices were increased as the crude oil rate inclined significantly.
    • With the crude oil rate touching $80 per barrel, diesel prices touched a new high of Rs.71.63 per litre in Hyderabad as well as other cities in the country, which is also registered as the highest diesel price of the month.
    • Diesel prices are influenced by the external factors such as the crude oil and the currency exchange rate, while internal factors include taxes, profit margin and operational cost of oil companies as well as a commission to dealers.
    • The rise in diesel prices during May 2018 was not influenced by internal factors, but that of external factors.
    • The considerable incline in crude oil rate is attributed to geopolitical tensions of a possible trade war between the US and China.
    • By the end of the month, diesel prices grew by 5.14% largely impacted by the significant rise in crude oil rates.

    Diesel Price Trend in Hyderabad in June 2018

    • With the concerns over the potential trade war between the US and China declining, crude oil prices slightly fell and thereby diesel prices were reduced by oil companies.
    • On the 1st of June 2018, diesel was sold at Rs.75.26 per litre in Hyderabad, a reduction of 7 paise per litre compared to the preceding day.
    • The Organisation of Petroleum Exporting Countries (OPEC) and its key ally Russia decided to meet on 22nd to address the concerns of a rising crude oil price.
    • Diesel prices in the second and third week declined marginally and fell by Rs.1.59 per litre by the 20th of the month.
    • The OPEC and Russia agreed to increase the output of crude oil to increase the supply to tackle the rise in fuel prices across the globe.
    • By the end of the month, diesel prices declined to its lowest at Rs.73.24 per litre which was kept unchanged for the last four days of the month.
    • Overall, the diesel price trend in Hyderabad in June 2018 reflected a downward trend of 2.68% largely due to the increase in output and the decline in concerns over a potential US-China trade war.

    Trend in Diesel Price in Hyderabad between January and March 2018

    January February March
    Opening date price Rs.64.92 per litre Rs.69.63 per litre Rs.67.68 per litre
    Closing date price Rs.69.53 per litre Rs.67.50 per litre Rs.69.97 per litre
    Highest price Rs.69.53 per litre registered on 31 Rs.69.75 per litre registered on 6 and 7 Rs.69.97 per litre registered on 31
    Lowest price Rs.64.92 per litre registered on 1 Rs.67.49 per litre on 25 Rs.67.68 per litre registered on 1
    Trend Increasing Decreasing Increasing
    % Deviation 7.10% up 3.05% down 3.38% up

    Trend in Diesel Price in Hyderabad in January 2018

    • The lowest and opening date prices stood at Rs.64.92 a litre at Hindustan Petroleum, Bharat Petroleum and Indian Oil, which later on hiked the fuel rate pondering the movements in the crude oil price and the currency translation ratio.
    • Every day, a revised price offer was made in Hyderabad and it is something unusual to observe. The growth rate in the fuel price was 0.92% in the week 1, 2.38% in the second week, 1.75% in the third week, and 1.62% in the week 4.
    • This steady growth rate ought to be attributed to the constant crude oil’s demand and the major variations in the USD/INR exchange rate.
    • The highest rate was logged at Rs.69.53 a litre on 31 since the fuel uninterruptedly gained the value for 30 days this month.
    • The Government of India retained the same level of excise duty in January 2018. Moreover, the VAT on diesel was also retained unaffected at 28.60% a litre in the city.
    • Transnationally, no production cuts were declared by oil-producing nations due to poor weather conditions or maintenance. Crude oil was distributed at the anticipated level to oil-importing nations, including India.

    Trend in Diesel Rate in Hyderabad in February 2018

    • On 31 January, the crude oil rate (Indian Basket) was $66.40 per barrel that further enlarged to $66.03 per barrel on 8 February. Therefore, the fuel reached its highest price at Rs.69.75 a litre on 7 February.
    • Fascinatingly, the diesel rate stirred downwards continually until the end of the month in sync with the falling crude oil rates and a gaining USD.
    • Within the first 15 days, a 4.17% drop in the crude oil cost led the diesel rate to diminish to Rs.68.77 a litre. The move was slightly affected by the disparities in the exchange rate as well.
    • Even though the BJP-led Government declared the Union Budget on 1 for the FY 2018-2019, the opening date price of Rs.69.93 a litre was announced under dynamic fuel pricing, a fuel price revision system adopted in India on 16 June 2017.
    • As the cost of crude oil (Indian Basket) dropped to $63.27 per barrel from $65.04 per barrel in the week 4, the month ended with the lowest price of Rs.64.29 a litre.
    • No domestic forces should be accounted for a price drop of 3.05% this month. The central tax on diesel remained unchanged at Rs.15.33 per litre and also the VAT at 28.60% in Hyderabad.

    Trend in Diesel Rate in Hyderabad in March 2018

    • The USD/INR conversion rate as of 1 March was Rs.65.24 and was down 0.53% to Rs. 64.89 as of 7 March. Thus, within the first week, the fuel rate jumped to Rs.68.45 per litre.
    • Between 8 and 18, the diesel rates have steadily fallen in sync with the Indian Basket average price of crude oil, which decreased to $62.04 per barrel on 14.
    • On 21, it rebounded to $65.08 per barrel. As a result, the fuel companies once again commenced mounting the offer, which reached to Rs.68.37 a litre on 22.
    • Since the crude oil price soared to $66.03 per barrel towards the end of the month, the month closed with the highest price offer of Rs.69.97 a litre on 31.
    • The growth rate in March slid to 3.38% from 7.10%, which was logged in January, primarily due to the decreased cost price of WTI Crude Oil and Brent Crude Oil.
    • The effect of the INR/USD exchange ratio was minimal throughout the quarter but not negligible. A fuel price rise in January and March or a fuel price downfall in February was not triggered by the domestic factors, which were constant.

    Diesel Price Calculation in Hyderabad

    Here’s how the diesel price is calculated in Hyderabad by State-run oil companies. 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 (27%) Rs.14.43
    Final Retail Price of Diesel as on 3 January 2019 Rs.67.84

    Diesel Price in Hyderabad Compared to other Metro Cities:

    The VAT on diesel is comparatively higher than other major metro cities of the country. While diesel attracts 27% VAT on the sale of diesel in Hyderabad, other major metro cities such as Delhi levies 16.75%, Mumbai charges 24%, Chennai levies 25% and in Bangalore, it’s 21%.

    Diesel Price Vs. Petrol Price in Hyderabad

    The basic cost of crude oil is the same for both petrol and diesel, however, taxes on diesel are much lower than petrol. In Hyderabad, petrol attracts VAT of 35.20%, while diesel attracts 27%, making the later cheaper.

    Why Diesel is not under GST?

    India moved to a new taxation regime known as the Goods and Service Tax (GST) from 16 July 2017 for all transactions of goods and services. However, five petroleum products such as crude oil, petrol and diesel, natural gas and aviation turbine fuel (ATF) were kept out of the ambit of GST. Both the Centre and states were not in favour of GST being implemented on the sale of petrol and diesel. This is because, the Centre would lose more than Rs.20,000 crore as input tax credit through excise duty, while states want to keep their revenue pool intact to meet any contingencies.

    The total tax incidence of excise duty and VAT is around 45-50% on petrol and 35-40% on diesel but the total tax incidence under the GST is 28%, affecting the revenue generated by the Centre as well as the respective State. Additionally, GST is charged as a percentage on the ex-factory price which could have a massive impact on retail prices whenever refinery gate prices are increased on the back of a rise in crude oil prices in the international market and vice versa as well.

    That said, if diesel is brought under the ambit of GST, the retail price of diesel will reduce drastically and consumers will be the biggest beneficiary.

    Also Check Diesel Price in NearBy Cities of Hyderabad

    *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 Hyderabad

    • Diesel prices across the four metropolitan cities increased by 5-6 paise per litre

      On Thursday, state-owned Oil Marketing Companies (OMCs) hiked the rates charged for a litre of diesel in the metropolitan cities by 5-6 paise. In New Delhi, the national capital a litre of diesel was retailed for Rs.65.19 after the revision in the prices. In the other three metropolitan cities of the country i.e., Kolkata, Mumbai, and Chennai a litre of diesel cost Rs.68.37, Rs.67.60, and Rs.68.84 respectively.

      It needs to be mentioned here that the rates charged for a litre of diesel in the national capital was the lowest among all metropolitan cities and state capitals. This is because the tax charged on the fuel is lower than what is charged in other cities.

      The rates of diesel in the country are revised per the dynamic pricing scheme that was adopted by OMCs in June 2017. As per the mechanism the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is because India imports 80% of the total crude requirement.

      12 September 2019

    • Diesel Prices Slashed For Second Consecutive Day

      The retail petrol and diesel prices were reduced on Monday, 19th August, 2019. The revised rates saw diesel become cheaper by 8-9 paise across metro cities. Fuel prices had been cut the previous day as well.

      In Delhi diesel prices were reduced by 8 paise with the fuel being sold at Rs.65.18 per litre, compared to the previous day’s price of Rs.65.26 per litre.

      Diesel was cheaper by 9 paise in Mumbai, where the fuel was priced at Rs.68.33 per litre. Motorists in Kolkata will pay 8 paise less for diesel on Monday, with the fuel being sold at Rs.67.56 per litre.

      In Chennai diesel is being sold 9 paise cheaper compared to its price yesterday, at Rs.68.86 per litre. Meanwhile in Noida diesel prices dropped from Rs.64.54 per litre to Rs.64.47 per litre, recording a fall of 7 paise.

      Gurugram also saw a reduction in diesel prices, with the fuel selling at Rs.64.59 per litre today against Rs.64.66 per litre the previous day.

      19 August 2019

    • Crude Oil Futures Gain in Global Cues

      Crude oil rates inclined by 1.54% to Rs.4,028 per barrel in futures trade on Wednesday as speculators increased their exposure on firm global cues. On the Multi-Commodity Exchange (MCX), July crude delivery inclined by Rs.61 per barrel or 1.54%, to Rs.4,028 a barrel in business turnover of 19,688 lots. The rise in crude oil futures was largely in sync with a firming trend in global trade. Meanwhile, US West Texas Intermediate (WTI) crude rates declined by 1.61% to $58.76 per barrel, while International benchmark, Brent crude futures inclined by 1.03% to $64.82 per barrel at the New York Mercantile Exchange. An incline or decline in crude oil prices direct impact the fuel prices in India as the country imports more than 80% of the crude to meet its energy requirement. Petrol and diesel prices are revised daily under the dynamic fuel pricing mechanism which considers the 15-day average price of crude oil and the rupee-dollar exchange rate.

      15 July 2019

    • WTI Crude Prices may Rise Due to US-Iran Tension

      As per reports, West Texas Intermediate (WTI) prices to shoot up with the ongoing US-Iran tension. With the US imposing sanctions and Iran declining to have any talks are further worsening the situation. As per industry experts, crude oil prices might hit $60 to $61 per barrel mark in the next couple of weeks at WTI. In India, the crude oil prices at MCX can see an increase from Rs.4,220 to Rs.4,230 per barrel, recording a Rs.110 surge, reports suggest. Commenting on the situation, Sugandha Sachdeva, Vice President at Religare Commodities, said that the damage in oil prices is primarily due to the fresh sanctions imposed on Iran by the US Government. She further stated that oil manufacturing nations, OPEC, will hold talks next month and a lot will depend on the meeting’s outcome.

      On the other hand, Anuj Gupta, Deputy Vice President, Currency and Commodities at Angel Broking, told the media that other than US-Iran tensions, the decrease in crude oil inventory in the US has escalated demand-supply constraint. As per reports, Brent Crude oil is hovering around $67 per barrel and may hit the $70 per barrel mark soon. Once it hits the $70 mark, it may next go up to $75 per barrel.

      26 June 2019

    • OMCs Keep Diesel Prices Unchanged in the Country

      Diesel prices in the four metro cities of the country were kept unchanged in the country by state-run Oil Marketing Companies (OMCs) on Monday. In New Delhi, one litre of diesel was sold for Rs.66.26 while in Mumbai oil companies charged Rs.69.35 for every litre. In the other two metro cities, Kolkata and Chennai, every litre of diesel was retailed for Rs.68 and Rs.69.96 respectively.

      As of Monday, crude prices fell in the international oil market. The decline in the prices came after Brent crude oil hit a new five-month high. The futures of international Brent crude were at $71.46 per barrel after the rates fell by 0.1% since their last close. It needs to be mentioned here that the retail prices of diesel have gone up by about Rs.5 per litre in the major cities since the start of the year. When it comes to global crude oil prices, it has increased by 7% in the last month.

      16 April 2019

    • Diesel Rates Remain Unchanged in the Country

      State-owned Oil Marketing Companies (OMCs) on Friday kept the rates of diesel unchanged in the country. Following the revision, every litre of diesel in the national capital was retailed for Rs.66.14. In Mumbai, the financial capital of the country, one litre of diesel cost Rs.69.22. In the other two metropolitan cities of the country i.e., Kolkata and Chennai consumers were required to shell out Rs.67.88 and Rs.69.83 respectively. The prices of diesel in the country have increased by Rs.5 since the beginning of the year. The rise in the prices has been accounted to the increase in the prices of international crude oil.

      On Thursday, the price of international crude oil dropped due to worries about new developments in US-China trade talks. The futures of International Brent crude oil were down by 0.3 percent or 23 cents since their last close. Brent crude oil was trading at $69.17 per barrel following the drop in the prices. It needs to be mentioned here that the rates of diesel in the country had touched unprecedented heights during the month of October last year. The rates charged for a litre of diesel in the national and financial capitals of the country i.e., New Delhi and Mumbai were Rs.75.45 and Rs.80.10 respectively.

      8 April 2019

    • Oil Firms Keep Petrol and Diesel Prices Unchanged on Tuesday

      Today, state-run Oil Marketing Companies (OMCs) kept fuel prices unchanged across major metro cities of the country. In the national capital of Delhi, petrol is being retailed at Rs.72.86 per litre and diesel is being sold at Rs.66.09 a litre, no revision compared to yesterday’s rate. In the financial capital of Mumbai, petrol is available at Rs.78.43 per litre and diesel at Rs.69.17 a litre. In Chennai and Kolkata, petrol is being sold at Rs.75.62 per litre and Rs.74.88 a litre while diesel is being sold at Rs.69.78 per litre and Rs.67.83 per litre, respectively. Likewise, in other metro cities such as Gurugram and Noida, petrol is being retailed at Rs.72.74 per litre and Rs.72.20 a litre while diesel costs Rs.65.32 per litre and Rs.65.21 a litre, respectively. New prices of petrol and diesel are effective from 6:00 am IST and prices may differ between cities and fuel stations due to local sales tax or VAT and transportation costs. It may be noted that fuel prices have been on the rise since early this year having inclined by nearly Rs.4 per litre and Rs.5 per litre for petrol and diesel, respectively. Today, in the international oil market, oil price rose amid US sanctions on Iran and Venezuela. International benchmark Brent crude oil futures was up by 26 cents or 0.4% to trade at $69.27 per barrel compared to its previous settlement.

      2 April 2019

    • Centre Seeks Saudi’s Help in Easing Oil Rates

      Global crude oil prices have been on the rise since early January this year. Oil Minister Dharmendra Pradhan asked Saudi Arabia, the world’s largest oil exporter, to play a central role in keeping rates at a reasonable level. Petrol and diesel rates have increased by more than Rs.2 per litre in the last one-month as global crude oil prices have increased on the hopes of the US and China ending their trade war that has prompted the global economic growth slowdown as well as OPEC ally Russia announcing to cut further crude oil output. The Oil Minister had raised the issue of a rising crude oil price with the visiting Oil Minister of Saudi Arabia Khalid Al-Falih and sought the role of Saudi Arabia in reducing prices. The Oil Minister said that the Centre has raised the issue of rising oil prices and sought the role of Saudi Arabia in cooling rates. During the meeting, India referred to Saudi Arabia’s pre-eminent role as a leading crude oil exporter and in maintaining the balance of oil prices.

      He also pointed to the need for uninterrupted supply of LPG and crude oil to India from Saudi Arabia amid OPEC-led supply cuts. Fuel prices, which are revised daily, have been on the rise in the last one-month. In Delhi, rates of petrol and diesel have inclined by more than Rs.2 per litre. Also, both the ministers agreed to take effective steps for the early implementation of the decisions taken in oil and gas sector.

      10 March 2019

    • Petrol and Diesel Rates Drop After Oil Prices Soften

      State-owned Oil Marketing Companies (OMCs) decreased petrol and diesel prices in Friday across all major metro cities in the country. With the revision, petrol is being sold at Rs.70.94 per litre and diesel is available at Rs.65.71 per litre in the national capital Delhi. In Mumbai, petrol costs Rs.76.57 per litre, while diesel is being sold at Rs.68.81 per litre. In Kolkata, petrol is being retailed at Rs.73.04 per litre and diesel is being sold at Rs.67.49 per litre, while in Chennai, petrol is being sold at Rs.73.64 per litre and diesel at Rs.69.41 per litre. While prices have softened this week, prices were marginally high last week as crude oil prices inclined on the back of a possible decline in the supply of crude oil in the international market. Fuel prices touched record high early October as crude oil was trading around $80 per barrel and declined to $56 per barrel late December. However, in October, the Centre announced a cut in excise duty of Rs.1.50 per litre and oil companies were asked to cut their margins by another Rs.1 per litre, offering some respite to consumers. Both petrol and diesel prices are influenced by two primary factors such as crude oil price and the exchange rate of the rupee over the U.S. dollar.

      1 February 2019

    • Fuel Prices Remain The Same On Wednesday 

      The prices of petrol and diesel in the country remained unchanged on Wednesday and this was a big relief for the common man after a daily revision of the prices for the last six consecutive days. Because of the unchanged prices on Wednesday, the people of Delhi are paying Rs.71.27 for a litre of petrol and Rs.65.90 for a litre of diesel. 

      In the cities of Kolkata, Chennai, and Mumbai, petrol is being retailed at Rs.73.36, Rs.73.99, and Rs.76.90 per litre respectively. The corresponding price of diesel in the three cities is Rs.67.68, Rs.69.62, and Rs.69.01 respectively. 

      The residents of Noida are paying Rs.70.97 for a litre of petrol and Rs.65.06 for a litre of diesel. The current price of the petrol and diesel in Gurugram remained unchanged at Rs.71.99 and Rs.65.67 respectively. The retail prices of the two fuels depend on the prices of the global crude oil.  

      Another factor that has an impact on the domestic price of the two fuels is the rupee-US dollar exchange rate. This is because India imports around 80% of its crude oil requirements and hence it’s very sensitive to these two external factors. 

      24 January 2019

    Diesel Price In Metro Cities
    Diesel Price In Other Capitals
    Diesel Price In Other Major Cities
    Diesel Price In States

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    This Page is BLOCKED as it is using Iframes.