Diesel Price In India Today

  • Diesel Price In Indian Cities

    City Diesel ( / litre)
    AGRA ₹ 62.62
    AHMEDABAD ₹ 65.17
    ALIGARH ₹ 62.89
    ALLAHABAD ₹ 62.89
    AMBALA ₹ 61.69
    AMRAVATI ₹ 67.51
    AURANGABAD ₹ 67.88
    BANGALORE ₹ 65.94
    BAREILLY ₹ 62.93
    BELGAUM ₹ 65.88
    BHOPAL ₹ 68.31
    BHUBANESHWAR ₹ 66.69
    CHANDIGARH ₹ 59.3
    CHENNAI ₹ 65.69
    COIMBATORE ₹ 66.06
    CUTTACK ₹ 66.92
    DEHRADUN ₹ 63.16
    DELHI ₹ 62.29
    DINDIGUL ₹ 66.53
    ERODE ₹ 66.19
    FARIDABAD ₹ 62.25
    GHAZIABAD ₹ 62.82
    GULBARGA ₹ 65.82
    GUNTUR ₹ 68.43
    GURGAON ₹ 62.06
    GUWAHATI ₹ 65.05
    HYDERABAD ₹ 67.8
    INDORE ₹ 68.35
    JABALPUR ₹ 68.31
    JAIPUR ₹ 69.26
    JALGAON ₹ 66.23
    JAMMU ₹ 62.07
    JAMNAGAR ₹ 65.08
    JAMSHEDPUR ₹ 63.48
    JODHPUR ₹ 69.16
    KAKINADA ₹ 68.55
    KANNUR ₹ 65.94
    KANPUR ₹ 62.68
    KARNAL ₹ 61.66
    KARUR ₹ 66.04
    KOLHAPUR ₹ 65.51
    KOLKATA ₹ 65.61
    KOTA ₹ 68.85
    KOZHIKODE ₹ 65.99
    KURNOOL ₹ 68.76
    LUCKNOW ₹ 62.83
    LUDHIANA ₹ 61.67
    MADURAI ₹ 66.32
    MALAPPURAM ₹ 66.33
    MANGALORE ₹ 65.25
    MEERUT ₹ 62.68
    MUMBAI ₹ 66.21
    MYSORE ₹ 65.6
    NAGERCOIL ₹ 66.58
    NAGPUR ₹ 65.19
    NANDED ₹ 67.09
    NASIK ₹ 65.6
    NELLORE ₹ 68.66
    NOIDA ₹ 62.95
    PATNA ₹ 66.8
    PONDICHERRY ₹ 64.59
    PUNE ₹ 64.98
    RAIPUR ₹ 67.54
    RAJKOT ₹ 64.99
    RANCHI ₹ 64.02
    RATLAM ₹ 68.17
    SALEM ₹ 66.48
    SANGLI ₹ 65.19
    SHIMLA ₹ 62.47
    SHIMOGA ₹ 66.87
    SOLAPUR ₹ 66.84
    SRINAGAR ₹ 64.71
    SURAT ₹ 65.1
    THANE ₹ 66.26
    THANJAVUR ₹ 66.33
    THIRUVANANTHAPURAM ₹ 67.17
    THRISSUR ₹ 66.13
    TIRUCHIRAPALLI ₹ 66.19
    TIRUNELVELI ₹ 66.07
    UDAIPUR ₹ 69.84
    UDUPI ₹ 65.46
    VADODARA ₹ 64.87
    VARANASI ₹ 63.41
    VELLORE ₹ 66.76
    VISAKHAPATNAM ₹ 67.47
    WARANGAL ₹ 67.43

    Diesel Price Changes in Metro Cities

    City Today's Diesel Price(Rs/Lt) Yesterday's Diesel Price(Rs/Lt)
    Delhi 62.33 62.33
    Mumbai 65.19 65.19
    Bangalore 64.4 64.4
    Chennai 65.69 65.69
    Hyderabad 67.8 67.8
    Kolkata 64.6 64.6

    Diesel Rate in India:

    Diesel Price in India
    Diesel Price in India

    Diesel is one of the widely used fuel oils in India. Popular for its efficiency and mileage, the petroleum distillate is used to power motor vehicles and equipment installed with diesel engines or compression-ignition engines.

    Just like its counterpart petrol, diesel powers many cars, buses, trucks, trains and other commercial equipment such as drilling machines, power generators and other pumping units.

    Coming with a lesser price tag than petrol, diesel is one of the most preferred fuel across India. Transport sector is the prime consumer of diesel making it an essential commodity that could directly or indirectly affect the day-to-day life of every Indian citizen.

    The price of diesel is hence an important component that people across the country would look out for. If you are one among those, below is an effort to keep you updated about the diesel prices in most major cities along with some information about what could possibly affect the prices.

    Find the current diesel price in India and factors affecting Price of diesel in India. The below diesel price trend in India offers insights such as the highest and lowest diesel prices recorded during a month.

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

    Parameters Rates/litre
    1st August Rs.66.05
    31st August Rs.65.26
    Highest Rate in August Rs.66.05 on 1, 2, and 3 August
    Lowest Rate in August Rs.65.12 on 20,21,22 and 23 August
    Overall Performance Decline
    Percentage Change -1.19%

    Monthly Diesel Price Trend in India for August 2019:

    • Diesel prices in India opened at Rs.66.05 per litre, unchanged from the previous day’s closing price. This was the highest prices charged for a litre of diesel in the month.
    • The diesel rate in India plummeted after staying constant for the next two days. The prices stabilised at Rs.65.99 per litre on 4 August and stayed there till the end of the first week.
    • With the demand for oil down and growing concerns of an economic crisis due the trade tensions between Washington and Beijing, the prices fell to Rs.65.12 on 20 August, the lowest recorded price for the month.
    • The price of diesel in India rose marginally in the final week of the month before closing at Rs.65.25 per litre. The overall performance of the fuel in the country for the month was -1.19%.

    Also Check Diesel Price in Metro Cities

    Monthly Diesel Price Trend in India for July 2019 (rates per litre)

    Parameters Rates/litre
    1st July Rs.64.32
    31st July Rs.66.05
    Highest Rate in July Rs.66.73
    Lowest Rate in July Rs.64.32
    Overall Performance Incline
    Percentage Change 2.68%
    • Diesel price in India opened at Rs.64.32 per litre on 1 July, a slight increase from previous day’s closing price. In India, diesel prices shot up on 7 July, recording at Rs.66.73 per litre. The hike was primarily due to the hike in excise duty of Re.1 per litre and the road and infrastructure cess of Re.1 per litre as announced by the Finance Minister during Union Budget 2019. Meanwhile, Brent crude prices continued to be under pressure due to tensions in the Middle East.
    • Price of Diesel dropped on the next week amidst looming global economic slump owing to US-China trade tensions. It closed the week at Rs.66.29 per litre, unchanged from previous day’s price. The dip could be attributed to a speculated global economic slowdown owing to US-China trade tensions.
    • Diesel rate in India remained unchanged for the entire third week of July, recording at Rs.66.29 per litre. State-run oil marketing companies decided not to alter the rates in spite of growing tensions in the Middle East and a massive drop in US inventories which caused oil prices to shoot up.
    • After staying stable for a week, diesel price in India slumped in the fourth week, closing at Rs.66.05 per litre on 31 July. This slump was because of weak demand of crude oil among investors. Another possible reason was Russia and OPEC agreeing to extend supply cuts till 31 July.

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

    Parameters Rates/litre
    2nd June Rs.66.19 per litre
    30th June Rs.64.22 per litre
    Highest Rate in June Rs.66.19 per litre on 2 June
    Lowest Rate in June Rs.63.81 per litre from 20-23 June
    Overall Performance Decline
    Percentage Change -2.98%
    • Diesel price in India opened at Rs.66.19 per litre in June, a marginal incline over the previous day’s price which was also the highest price recorded during the month amid a slight increase in crude oil prices.
    • During the first and second week, the diesel rate in India fell to touch the lowest on 20 June when a litre of diesel was sold at Rs.63.81 per litre largely due to the slump in crude oil prices in the global market due to supply cuts led by the OPEC and its allies.
    • Prices inclined marginally in the last week of June due to the slight incline in crude oil prices even as Brent crude gained about 0.4% after plummeting nearly by 10% in the last four days.
    • Overall, diesel rate in India in June decreased by 2.98% owing to the drop in crude prices as the OPEC and allies continued to limit supplies to the market despite tensions in the Middle East and the tariff war between the US and China.

    Budget 2019: Increase in Excise Duty on Petrol, Diesel by Re.1 (Date:5th July'19)

    The Government of India has decided to impose additional excise duty on petrol and diesel by Rs.1 per litre. Finance Minister Nirmala Sitaram made the announcement in the Budget 2019 speech today. With this, petrol and diesel prices will rise sharply across the country. This comes amid petroleum products, being a huge source of revenue for the government, its exchequer and an increase in excise duty is expected to hurt consumers. On 4 July 2019, petrol was sold at Rs.70.51 per litre and Rs.76.15 per litre in Delhi and Mumbai, respectively. Diesel was priced at Rs.64.33 per litre and Rs.67.96 per litre in Delhi and Mumbai.

    Currently, petrol attracts excise duty of Rs.17.98 per litre, while Value Added Tax (VAT) on petrol is Rs.14.98. The total price charged to dealers amounts to Rs.32.96 per litre. As for diesel, the excise duty is Rs.13.83 per litre and VAT at Rs.9.47 per litre and the price charged to dealers amounts to Rs.23.30 per litre. Prior to 2014, it was a common practice to cut duties when international crude oil prices inclined; however, that changed as the government has been found hiking excise duty leading to an increase in the Central Government’s revenue.

    Deregulation of Diesel Prices in India:

    In October 2014, diesel prices in India were deregulated, linking them directly to the international market rates. Prior to deregulation, diesel rates were regulated by the government.

    The deregulation makes the diesel prices market determined without any government intervention. That means any fluctuation in the global crude oil prices will directly affect the retail diesel prices.

    The deregulation helps the government to spend less on subsidies in an attempt to bridge the gap between global and domestic market prices.

    It also promotes healthy competition among the oil companies, which will eventually benefit end users who can enjoy competitive prices and better service delivery.

    Daily Revision of Diesel Prices or Dynamic Fuel Pricing

    Following the diesel price deregulation was the introduction of daily revision of diesel prices or the dynamic fuel pricing model.

    Came into effect on 16 June 2017, the dynamic fuel pricing model revises both petrol and diesel prices on a daily basis based on the previous day’s international crude oil price and currency conversion rates.

    Prior to dynamic pricing, the revision used to happen fortnightly, i.e., on the 1st and 16th of every month based on the average international crude oil price in the preceding fortnight.

    By adopting dynamic pricing India joined other developed countries like the US and Australia, where the pricing model is already in use.

    The daily revised diesel prices will be updated by the fuel stations at 6 a.m. every day.

    The move is to ensure that even the smallest benefit from the change in the international oil prices is passed to the dealers as well as to the end consumers on a daily basis. It will also bring transparency in fuel pricing and will minimise the impact on the dealers who often deal with fluctuating fuel prices.

    How to Find Diesel Price Every Day?

    With the daily revision of fuel prices in place, you may have to pay different price every time you fill your vehicle. While the prices in the automated fuel stations will be changed centrally, the non-automated pumps have to change them manually.

    The non-automated fuel stations and consumers can access the updated daily price through various means such as –

    • Mobile app – By downloading apps of state-owned oil manufacturing companies (OMCs), one can fetch daily updated prices of both diesel and petrol at all cities in India. Fuel@IOC is the mobile app of Indian Oil Corporation (IOC), SmartDrive is for Bharat Petroleum (BP), and for Hindustan Petroleum (HP) it is MYHPCL.
    • SMS service – Consumers can send a text message in a specific format with the dealer code to get the daily diesel price at specific fuel stations
      • For IOC dealer diesel price, sms RSP< SPACE >dealer code to 9224992249
      • For BP, RSP< SPACE > dealer code to 9223112222
      • For HP, HPPRICEdealer code to 9222201122

    The dealer code is usually displayed at the fuel stations, in the absence of which consumers can ask for the same at the station or get it from the respective OMC website.

    • OMC’s Websites Customers can also visit the official websites of respective OMCs to find the diesel price.

    Various Components That Add up to Diesel Price in India

    Though diesel is widely used across the country, very few customers actually know that the price of the diesel when purchased in crude form is less than half the price of what they typically pay at the fuel station?

    Yes, when Indian oil manufacturing companies (OMCs) import crude oil (raw material for petrol/diesel) from other countries, they pay a nominal price per litre. Many a times it is less than Rs.25 per litre. Then what is adding up to make it thrice the original price.

    Well, there are more than a couple of components that add up to the actual fuel price making it heavier on Indian pockets.

    The components that contribute to the retail selling price of diesel include –

    • Cost of crude oil + cost and freight (C&F) charges
    • Refinery transfer price (RTP)
    • Price charged to dealers
    • Central and state taxes
    • Dealer commission + other charges
    • Cost of crude oil + cost and freight (C&F) charges
    • India is the third largest oil consumer in the world. According to Petroleum Planning and Analysis Cell (PPAC), the country’s fuel consumption grew to 194.2 million tonne (Mt) in 2016-17. Of the total, diesel consumption accounts to 74.6Mt, making it the most consumed fuel.

      Despite being one of the major oil consuming nations, India produces only 25% of its total crude oil requirements. As a result, the country has been increasingly depending on crude oil imports which meet nearly 76% of its requirement.

      Most of the oil is imported from OPEC nations including Saudi Arabia, United Arab Emirates, Nigeria, Iraq, Iran, Kuwait, Angola, Malaysia, Indonesia, and off-late from the United States.

      The journey of diesel, thus, begins with the purchase of crude oil from other countries which usually sell the oil in barrels for US dollars.

      Indian OMCs pay the crude oil price plus the cost and freight charges to the foreign oil companies, which forms the base rate of the oil.

    • Refinery Transfer Price (RTP)
    • The purchased crude oil is then sent to the refineries for further processing to extract petrol and diesel. The OMCs pay a certain amount of fee to the refineries for every litre of petrol/diesel processed. The fee is called refinery transfer fee (RTP).

    • Price charged to dealers
    • The OMC then sells the refined diesel to local dealers, which are usually fuel station owners, by adding some profit margin to the actual cost. From then the dealers become owners of the fuel.

    • Central and state taxes
    • The dealer then adds two different taxes - the Central Excise Duty levied by the Central Government and the Value Added Tax (VAT) imposed by the state government. While the excise duty remains fixed across India, VAT is something which varies from state to state. The variation in fuel price from state to state is mainly because of this component.

    • Dealer Commission + other charges
    • The final step is to add dealer’s commission and the air ambience charges to get the final retail selling price of diesel. The variation of diesel price from fuel station to station is mainly due to variation in dealer’s commission and other transportation charges involved.

    Price Break up of Diesel

    The data is as on 24 Sep 2017 in Delhi at IOCL retail pump outlet

    Components of Diesel Price Break-up Unit
    Cost & Freight (C&F) Price $/bbl 68.92
    Average Exchange Rate Rs/$ 64.09
    Trade Parity Landed Cost Based on Daily Pricing Methodology (Price paid OMCs to refineries) Rs/Lt 28.16
    Marketing Cost, Margin, Freight and Other Charges Rs/Lt 2.06
    Price Charged to Dealers Rs/Lt 30.22
    Excise Duty Rs/Lt 17.33
    Dealer Commission Rs/Lt 2.50
    VAT applicable for Delhi @ 16.75% + Rs. 0.25/Lt pollution cess Rs/Lt 8.67
    Retail Selling Price at Delhi Rs/Lt 58.72

    Let’s put everything in numbers:

    On 24 Sep 2017, price of diesel in the international market is $68.92 per barrel (one barrel=159 litres).

    The average exchange rate on the day is Rs.64.09 per dollar, which brings the cost price of one litre diesel to Rs. 27.78. As per the daily pricing methodology, the OMCs pay Rs. 28.16 per litre to refineries.

    After adding their profit margin, marketing cost, freight and other charges OMCs sell it to dealers for Rs. 30.22 per litre.

    The fuel station dealers then add excise duty of Rs. 17.33 per litre, commission of Rs. 2.50 per litre, VAT and pollution cess of Rs. 8.67 per litre and sell it to the customers at Rs. 58.72.

    Factors Affecting Diesel Prices in India

    Major factors that affect diesel price include – international crude oil price, exchange rate and taxes.

    • International crude oil price: The primary factor that affects the diesel price is the crude oil price in the international market. The crude oil prices are typically determined by various factors including worldwide demand and supply, global economic conditions, seasonal and climatic changes, political instability in oil producing countries. Let’s look at them in detail -
    • Increased demand: The same demand and supply phenomenon applies even for the diesel price. The higher the demand when the supply is short, the higher the price of diesel. Similarly, high supply and less demand will lead to reduction in prices.
    • Seasonal and climatic changes: Whenever there is a change in season, oil refineries tend to conduct maintenance activities which may partially affect the production activities leading to lesser supply and higher price.

    Severe weather changes or natural calamities such as cyclones and hurricanes may also affect both drilling and production activities leading to oil shortage. Sometimes transportation facilities are also affected resulting in less refined gasoline.

    • Devaluation of US dollar: As crude oil is traded in US dollars and the dollar being the most stable currency, directly affects the global oil prices. Whenever dollar gains strength, there would be a drop in the value of oil and other dollar denominated commodities and vice versa.
    • Political instability: Any geo-political tension that affects the oil production throughout the world or in the oil producing countries will show direct impact on the fuel prices. The recent tensions between the US and North Korea has significant impact on the dollar which in turn resulted in fluctuating fuel prices.
    • Exchange rate: The crude oil is typically bought in US dollar, therefore, any change in India’s exchange rate and the US dollar will affect the buying cost of crude oil hence would impact the selling price in India.
    • Central and state taxes: Whenever there is a change in state and central tax on fuels it would be reflected in the retail selling price of diesel. As different states have different VAT rate, the rate of diesel varies from state to state.

    Trend of Diesel Price in India for past Six Months

    As mentioned earlier, diesel price revision which used to happen fortnightly is now happening on a daily basis. As discussing about every day price only makes it lengthy, let us see the trend of diesel prices before and after dynamic fuel pricing is in place –

    • Trend of Diesel Prices post Dynamic Fuel Pricing
    • Aimed to bring more transparency in fuel pricing and to benefit end consumer with even the slightest change in the oil price, the dynamic fuel pricing is still a matter of controversy.

      Soon after the daily price revision system was introduced from mid-June, there was an immediate decline in diesel price. From Rs. 54.49 per litre on 16 June it continued to drop for 15 continuous days till it reached Rs. 53.33 on 1 July in Delhi. Since then, the price of diesel has been on rise, with the OMCs increasing it in small doses every day, except a few smaller cuts here and there. The price of diesel has risen by Rs. 5.39 per litre to Rs. 58.72 as of 24 September.

      The increasing crude oil price is one major factor that contributed to the diesel price hike during the period. The price of one barrel of crude oil has seen an 18% increase from $58.06 on 01 July to $68.92 on 24 September. Hence the corresponding diesel price increase of over 10.10% in Indian market.

    • Trend of Diesel Prices before Dynamic Fuel Pricing (March to June)
    • The last revision during the fortnight pricing happened on 15 June, when the price of diesel was cut by Rs. 1.24 per litre making it Rs. 54.49 per litre in Delhi.

      On 1 June, the price of diesel was increased by Rs. 0.89 per litre to Rs. 55.94.

      The month of May has seen two revisions including a marginal 44 paisa hike per litre of diesel on 1 May to Rs. 57.35 followed by a rate cut of Rs. 2.10/litre on 15 May.

      On 16 April, diesel was at Rs. 55.61 per litre, Rs 1.04 increase from the previous revision and the revision towards the month end increased its price further by Rs. 2.94.

      In the month of March, the price of diesel was cut by Rs 2.91 per litre bringing its cost to Rs. 55.61.

      The change in the prices were majorly attributed to the global crude oil prices and the exchange rate.

    GST and Diesel Price

    There has been an ongoing discussion on bringing the fuel prices under the goods and services tax (GST), which subdues all indirect taxes levied by the state and central governments.

    Some experts opine that bringing them under the new tax regime would lead to a reduction in prices as the majority of fuel price is constituted of central and tax rates.

    • Taxes constitute more than 40% of the diesel price
    • As on 24 September 2017, diesel costs Rs. 58.72 per litre, of which Rs 26 goes to central and state government in form of excise duty and VAT. Which means taxes constitute 40% of the selling price of diesel making them another deciding factor after global crude oil price.

    • 386% tax hike in three years
    • Between July 2014 and January 2016, the price of the crude oil in the international market slashed more than 70% from $106 per barrel to $26. With India importing more than 70% of its petroleum requirements, any change in the global crude oil prices should bring change to the selling price of diesel.

      Despite 70% change in the global prices, the selling price of the diesel remained almost unaffected due to the incumbent government’s tax hike in a move to meet its revenue and fiscal deficit targets.

      On 1 April 2014, the central excise duty on diesel was Rs 3.56 per litre, which in three years was increased by a whopping 386% to Rs. 17.33 per litre (as of 25 September 2017). Further, the state governments also revised VAT on diesel at various occasions.

      The combined effect of central and state government taxes led to the continuous increase in diesel prices even when the crude oil has become cheaper by little less than half.

    • Bringing diesel under GST – The impact
    • Petroleum products such as petrol, diesel, jet fuel and natural gas have been kept outside the purview of GST. If they are brought under GST, the prices may become substantially cheaper.

      Currently, GST is applied in four tax brackets – 5%, 12%, 18% and 28%. Even after taxing petrol/diesel under the highest tax bracket that is 28%, the prices would come down at least by 22%. However, in a few cities where taxes are little lesser, the prices may go up.

    Also check Today's Diesel Price in the most popular Indian cities

    Frequently Asked Questions on Diesel Price

    1. Why is diesel cheaper than petrol?
    2. Though both diesel and petrol are derivatives of the same crude oil, the price of both the commodities vary in India. This is mainly because of the state and central taxes being levied differently for both the products. Even the dealer’s commission varies on both the commodities.

      While the central excise duty on diesel in Rs. 15.33 per litre (as of 04 October 2017), it is Rs. 19.48 per litre on petrol. Similarly, the state levied VAT in Delhi is Rs. 8.67 per litre on diesel, whereas on petrol it is Rs. 14.96 per litre. Further, there is Rs. 1.07 per litre difference on the dealer’s commission for both the fuels, making a litre of diesel Rs. 11.67 cheaper than a litre of petrol.

    3. What is diesel price made of?
    4. In addition to the basic price of the diesel, other components that would make up diesel price are the central and state government taxes, OMCs and dealer’s profit margins and transportation charges.

    5. Why is diesel price different in different states of India?
    6. While the central excise duty remains same across all the Indian states, the VAT is something that differs from state to state. For example, with Delhi government charging 16.75% VAT, the price of a litre of diesel in Delhi is Rs. 58.68, whereas with 24% VAT in Mumbai, it costs little higher at Rs. 62.33 per litre in the financial centre.

    7. Why does diesel price vary from one pump to other?
    8. It’s mainly because of the cost of transportation and cost of running the fuel station involved. If the petrol pump is located close to the supply plant, the cost of transportation is less and hence the pump charges a lesser rate than other pumps which are located far from the supply plant. Also the maintenance cost of the pump including the salaries, rent and utilities would affect the pricing of the diesel at each petrol pump.

      Also there is a price variation from one company pump to another, that is HP charges a different rate than its competitors IOCL and BP and vice versa.

    9. Who control diesel prices in India?
    10. The government of India used to regulate diesel prices till October 2014. From 19 October, diesel prices are linked directly to the international crude prices, hence they are being decided by the respective OMCs.

      Each OMC prices diesel differently based on the transportation and other charges included, it is then up to the dealer to add other costs involved to run the pump as well as to supply the fuel, which finally adds up to the selling price of diesel.

    11. Who are the major players in petroleum and diesel industry?
    12. Three oil marketing companies (OMCs) including Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) control more than 90% petrol pumps in India. Majority of the shares in the three companies are owned by the government of India.

      The other private players who occupy a marginal market share include Shell, Reliance and Essar.

    13. What is fuel surcharge?
    14. Each time a credit/debit card is swiped, a certain percentage of the transaction will go to the card issuing company as transaction fees. The fee is typically 2-3% of what the consumer pays and is usually absorbed by the merchant or the store where the purchase is made.

      When it comes to petrol transactions, the fee should be ideally borne by the petrol pump dealers. However, as fuel businesses operate with little profit margins, the transaction fee is being passed to the consumers. Hence, the fee charged in addition to the actual fuel charge is called the fuel surcharge.

      Whenever you swipe a card to purchase fuel, you will be charged with a fuel surcharge, along with the service tax levied on the surcharge.

    15. What is fuel surcharge waiver on debit cards?
    16. In a move to promote digital payments post demonetisation, the government waived the fuel surcharge asking banks to stop levying surcharge on fuel transactions made through debit cards. The charge will neither be borne by the pump dealers but will be recovered by the card issuing banks from the OMCs, as per the Reserve Bank of India’s directive.

    17. What is fuel surcharge waiver on credit cards?
    18. As credit cards still attract fuel surcharge, many banks have been offering cards with fuel surcharge waiver benefit. Customers using the card can avail either a complete fuel surcharge waiver, or a waiver within a certain limit per transaction or with a cap per month, depending upon the type of card and the issuing bank.

      One thing to note here is you will still be charged with service tax levied on surcharge.

      For instance, if you purchase Rs.1000 worth petrol using your credit card, you have to pay:

      Rs. 1000+ fuel surcharge (2.5%) + tax on surcharge

      = Rs. 1000 + Rs. 25 + Rs. 3.63 = Rs.1028.63

      When your surcharge is waived, you have to pay the bill amount plus the tax, which is

      = Rs. 1000 + Rs. 3.63 = Rs. 1003.63

    *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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    • Diesel prices see no change across the country on Friday

      The rates of diesel didn’t see any change on Friday as state-owned Oil Marketing Companies (OMCs) decided against it. Following the daily revision as per the dynamic pricing scheme, which was adopted in June 2017, a litre of diesel cost Rs.69.29 in Delhi. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai a litre was retailed for Rs.66.21, Rs.65.62, and Rs.65.71 respectively. In non-metropolitan cities like Noida and Gurugram, a litre cost Rs.62.96 and Rs.62.08. It must be noted here that the rates of diesel are the cheapest in the national capital among all the mentioned cities due to lower taxes.

      On Thursday, the rates of diesel saw a slight change in Mumbai and Kolkata as there was a hike in the value-added tax (VAT). States like Maharashtra, West Bengal, Karnataka and Rajasthan had increased the VAT on fuel.

      In the international oil market, the rates of international crude oil shot up after the US president stated that he expected Saudi Arabia and Russia to announce a major oil production cut. The rates soared by almost 10 percent.

      In March, fuel retailers sold about 26 percent less diesel when compared to a year ago. The drop was accounted to less demand in the country given the measures taken by the government to contain the spread of coronavirus.

      3 April 2020

    • Diesel prices remain the same across the major cities on 31 March 2020

      Oil marketing companies that are run by the state did not make any changes to the prices of diesel across the major cities in India on 31 March 2020. No changes have been made to the prices of diesel for 15 days in a row.

      According to details available on the official website of Indian Oil Corporation, the price of diesel in Delhi is the same as 30 March 2020 and is at Rs.62.29 for a litre. Delhi has the cheapest price of diesel when compared to most state capitals and all the metros because of lower taxes. From 1 March 2020, the price of diesel in the National Capital Region (NCR) has been reduced by Rs.2.01 for a litre. The prices of diesel in Hyderabad, Bengaluru, Gurugram, Noida, Chennai, Mumbai, and Kolkata remained the same when compared to 30 March 2020. The updated prices of diesel in Hyderabad, Bengaluru, Gurugram, Noida, Chennai, Mumbai, and Kolkata are Rs.67.82, Rs.64.41, Rs.62.08, Rs.62.96, Rs.65.71, Rs.65.21, and Rs.64.62 for a litre, respectively. Since around 83% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the international markets affect the prices of diesel in the country. Oil marketing companies that are run by the state such as BPCL, HPCL, and IOC have said that adequate diesel is available during the lockdown. Brent crude oil futures prices in the global markets have increased by 0.8% and were trading at $22.95 for a barrel.

      31 March 2020

    • Diesel prices remain stagnant across the major cities for 11 consecutive days

      Oil marketing companies that are run by the state made no changes to the diesel prices across the major cities in India on 27 March 2020. The prices have remained unchanged for 11 days in a row.

      In Delhi, which has the lowest prices of diesel when compared to most cities in India, the prices remained the same as on 26 March 2020 and are at Rs.62.29 for a litre. Even though the prices of Brent crude oil in the international markets have reduced by nearly 50%, the prices of diesel have remained unchanged in India. In the month of March, the price of diesel in New Delhi has been reduced by Rs.2.01. Since the beginning of 2020, the price of diesel in India has been reduced by Rs.6.88. The prices of diesel in Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru, Gurugram, and Noida remained the same as well when compared to 26 March 2020. The updated prices of diesel in Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru, Gurugram, and Noida are at Rs.65.21, Rs.65.71, Rs.64.62, Rs.67.82, Rs.64.41, Rs.62.08, and Rs.62.96 for a litre, respectively. Since around 83% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the global markets determine the prices of diesel in the country. Brent crude oil futures prices in the global markets increased by 2% and were trading at $26.84 for a barrel.

      27 March 2020

    • Diesel prices see no change across the metropolitan cities

      State-run Oil Marketing Companies (OMCs) on Thursday kept the rates of diesel unchanged across the metropolitan cities for the tenth consecutive day. A litre of petrol was retailed for Rs.69.29 in the national capital. In Mumbai, Kolkata, and Chennai consumers were required to pay Rs.65.21, Rs.64.62, and Rs.65.71 respectively for a litre. In non-metropolitan cities like Noida, Gurugram, Hyderabad, and Bengaluru, OMCs charged Rs.62.96, Rs.62.08, Rs.67.82, and Rs.64.41 respectively for a litre of diesel. The price required to be paid for a litre of diesel was the cheapest in New Delhi among all metropolitan cities and most state capitals due to lower taxes. In the national capital, the rates have declined by Rs.2.01 per litre since the start of the month.

      It must be noted here that the demand of fuel has plummeted by 10-11 percent in the first two weeks of March due to a cut in industrial activity and cancellation of flights due to the outbreak of Covid-19 across the world. With India, imposing a 21-day lockdown, several pump owners have reported a 20-25 percent drop in sales.

      26 March 2020

    • Government to boost excise duty on petrol and diesel by Rs.8

      The Parliament has recently approved the enablement of a provision that will allow the government to hike duty on petrol and diesel by Rs.8 per litre. The Finance Minister, Nirmala Sitharaman had also moved an amendment to the Finance Bill, 2020, for raising the limit of excise duty on these fuels. While for petrol it can be hiked to Rs.18 per litre for diesel, the duty can be raised to Rs.12 per litre. The earlier limit for the fuels had been Rs.10 per litre and Rs.12 per litre.

      The amendment had been passed without any debate and the additional revenue created will be used for meeting all unexpected expenses that may be incurred during the coronavirus outbreak.

      During the first week of March, the government had raised the excise duty on petrol and diesel by Rs.3 per litre. The excise duty hike had been expected to raise Rs.39,000 crore as annual revenue. The duty hike included Rs.2 per litre in additional excise duty and Re.1 in infrastructure and road cess. This increase had taken the additional duty to maximum permissible limit- Rs.10 for petrol and Rs.4 in for diesel. An amendment to the Eighth Schedule of the Finance Act has increased the limit to Rs.18 per litre for petrol and Rs.12 in the case for diesel.

      This amendment will give power to the government to actually raise the duty by Rs.8 per litre for both the fuels. This rise in excise duty takes off the heel of the dip in crude oil prices amidst a price war that had cropped up between Russia and Saudi Arabia. While the fall in crude prices had affected the customers and the government now wants to cash in on the recent one for shoring up funds for the coronavirus outbreak.

      A recent SBI Ecowrap report had said that the new hiked excise revenue from oil should not be utilised for fixing the fiscal gap. This should be used as a fiscal package for income support to those individuals who are working in the unorganised sector.

      24 March 2020

    • No changes made to the prices of diesel across the major cities on 23 March 2020

      On 23 March 2020, oil marketing companies that are run by the state did not make any changes to the prices of diesel across most cities in India. Diesel prices have remained stagnant for the seventh day in a row.

      As per the details available on the official website of Indian Oil Corporation, the price of diesel in Delhi remained the same as yesterday and is at Rs.62.29 for a litre. Diesel prices are cheaper in Delhi when compared to all the metros because of lower taxes. The prices of diesel have remained stagnant over the last seven days even though crude oil prices have come down by nearly 60% over the last four weeks. Since the beginning of March, the price of diesel in the National Capital Region (NCR) has been reduced by Rs.2.01. Since 11 January 2020, the price of diesel in NCR has been reduced by Rs.6.88. The prices of diesel in Bengaluru, Hyderabad, Kolkata, Chennai, Noida, Gurugram, and Mumbai have remained the same over the last seven days. The updated prices of diesel in Bengaluru, Hyderabad, Kolkata, Chennai, Noida, Gurugram, and Mumbai are Rs.64.41, Rs.67.82, Rs.64.62, Rs.65.71, Rs.62.96, Rs.62.08, and Rs.65.21 for a litre, respectively. Since around 83% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the global markets determine the prices of diesel in the country.

      23 March 2020

    • No changes made to the prices of diesel on 22 March 2020

      Oil marketing companies that are operated by the state did not make any changes to the prices of diesel across the major cities in India on 22 March 2020. No changes were made to the prices of diesel on 21 March 2020 as well.

      The main reasons for the prices to remain stagnant were the increase in excise duty and the volatility in oil rates in the international markets. According to the data available on the official website of Indian Oil Corporation, the price of diesel in Delhi remained the same as 21 March 2020 and is at Rs.62.29 for a litre. The price of diesel in Delhi is the cheapest when compared to all the metros and most state capitals due to lower taxes. The prices of diesel in Kolkata, Mumbai, Chennai, Noida, and Gurugram remained the same as well when compared to 21 March 2020. The updated prices of diesel in Kolkata, Mumbai, Chennai, Noida, and Gurugram are Rs.64.62, Rs.65.21, Rs.65.71, Rs.62.96, and Rs.62.08 for a litre, respectively. Diesel prices in the country have been reduced by Rs.2.30 for a litre due to the steep decline in the international markets. Since around 83% of India’s crude requirements are imported, the crude oil prices in the international markets and the value of the rupee against the dollar determine the prices of diesel in the country. Brent crude oil futures prices increased by 1% and were trading at $28.75 for a barrel.

      22 March 2020

    • Diesel prices remain stagnant across the country on Thursday

      The rates of diesel remained unchanged across the country for the third successive day on Thursday. Diesel prices saw no change even though global benchmark Brent crude oil prices continued its downward slide amid concerns about the spread of coronavirus and its impact on oil demand.

      Following the daily revision in the prices, a litre of diesel cost Rs.62.29 in the national capital. In Mumbai, the commercial capital consumers were required to pay Rs.65.21 for a litre while in Kolkata and Chennai a litre was retailed for Rs.64.62 and Rs.65.71 respectively. In non-metropolitan cities like Noida and Gurugram, OMCs charged Rs.62.96 and Rs.62.08 for a litre.

      In New Delhi, the rates of diesel are the cheapest among all metropolitan cities and most state capitals due to lower taxes. Since January, the rates of diesel have slipped by Rs.6.88 per litre in the national capital.

      In the international oil market, the rates of Brent crude and US West Texas Intermediate were down by 2.10 and 3.44 dollars for a barrel was trading at $26.98 and $23.81 per barrel. The rates were up due to economic stimulus efforts announced by governments to mitigate a global coronavirus-led recession.

      India which imports 80 percent of the total crude requirements revise the rates of fuel daily. The prices are dependent on international oil prices on a 15-day average and the rupee-dollar exchange rate.

      19 March 2020

    • No changes made to the prices of diesel on 18 March 2020

      Oil marketing companies that are run by the state did not make any changes to the prices of diesel across the major cities in India on 18 March 2020. The prices of diesel have not been changed for the second day in a row.

      The prices of Brent crude oil in the international markets fell below $30 for a barrel. The main reason for the reduction in prices was the coronavirus outbreak. The price of diesel in Delhi is the same when compared to 17 March 2020 and is at Rs.62.29. It is worth noting that the price of diesel is the lowest in Delhi when compared to all the metros and most other cities due to lower taxes being levied. For the month of March, the price of diesel has so far been reduced by Rs.2.01 in the National Capital Region. The prices of diesel in Kolkata, Mumbai, Noida, Girugram, and Chennai remained the same as well when compared to 17 March 2020. The updated prices of diesel in Kolkata, Mumbai, Noida, Girugram, and Chennai are at Rs.64.62, Rs.65.21, Rs.62.96, Rs.62.08, and Rs.65.71 for a litre, respectively. In order to improve the slump in the economy, the government increased the excise duty on petrol and diesel by Rs.3. Since around 83% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the international market determine the price of diesel in the country.

      18 March 2020

    • Prices of diesel reduced by up to 16 paise on 15 March 2020

      Oil marketing companies that are run by the state decreased the prices of diesel by up to 16 paise across the major cities in India on 15 February 2020. The prices of diesel were reduced by 16 paise on 14 March 2020.

      According to the data available on the official website of Indian Oil Corporation, the price of diesel in Delhi was reduced by 14 paise and was sold at Rs.62.44 for a litre. It is worth noting that the prices of diesel are the cheapest in Delhi when compared to most state capitals and all the metros because of lower taxes. The prices of diesel in Kolkata and Mumbai were reduced by 14 paise and were at sold at Rs.64.77 and Rs.65.27 for a litre, respectively. In Chennai, the price of diesel was reduced by 15 paise and was sold at Rs.65.87 for a litre. In Hyderabad, the price of diesel was reduced by 16 paise and was sold at Rs.67.98 for a litre. Since more than 80% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the international market determine the prices of diesel in the country.

      16 March 2020

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

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