Diesel Price in Jodhpur
Diesel price per litre in Jodhpur was above Rs.70 in June 2018. Hindustan Petroleum, Bharat Petroleum and Indian Oil, the three state-owned and leading fuel companies in India, offer almost the same fuel rate in the city of Jodhpur. Diesel customers may observe a minute difference in the price of diesel per litre in various cities of the same state. For example, diesel rate in Jodhpur, a prime city in Rajasthan, may vary slightly from diesel price in other cities of Rajasthan owing to carriage overheads, which are incurred to distribute diesel from refineries to supply stations.
Revision of Diesel Rate in Jodhpur
The last week of June 2018 has exhibited a growing trend as far as diesel rates in Jodhpur are concerned. On 24 June 2018, diesel was transacted at Rs.71.91 a litre. The fuel rate was down 6 paise to Rs.71.85 a litre on 25 June 2018. It further fell to Rs.71.74 a litre on 26 June 2018. Can you read a different fuel rate every day? Yes. Fuel enterprises have been asked to change/revise the prices of diesel and petrol every day in tandem with the currency translation ratio and international crude oil rates. This daily fuel price revision system is termed as dynamic fuel pricing. Since June last year, dynamic fuel pricing has been in use in India.
|Also Know: Petrol Price In Jodhpur|
Why Dynamic Fuel Pricing in India?
Fuel companies will require a certain format to offer a new price. They were asked to revise fuel rates in India using a fortnightly-based model prior to the arrival of dynamic fuel pricing. Diesel was sold at the same rate during the first fifteen days of June 2017. This is not the case now. Each day, the fuel rate is revised and the revised rate is released at 06:00 a.m. India wanted to follow dynamic fuel pricing, which is a global practice, and make the revision of fuel rates translucent to customers. The new system will provide multiple advantages to Oil Marketing Companies (OMCs).
Obtain Today’s Diesel Price in Jodhpur Following Smart Ways
Here, we discuss various online and offline options used to get the latest diesel rate in your city. IOCL is a highly competitive oil company in India and has a huge customer base. It has introduced a mobile application called as Fuel@IOC to aid its customer get the latest diesel and petrol rates not only in Jodhpur but also in other Indian cities. Indian Oil also offers the SMS service to get the fuel price quickly. HPCL and BPCL have also launched their unique mobile applications. The fully tailor-made mobile application provided by HPCL is My HPCL and that of BPCL is SmartDrive. HPCL and BPCL diesel prices in Jodhpur can also be traced through SMS services.
|Also Check: Diesel Price in Jaipur|
Components of Diesel Rate in Jodhpur
The components of diesel price in the city of Jodhpur consist of taxes, commission, expenses spent by OMCs, crude oil expenses, pollution cess. Taxes are a common cost aspect in the price structure of most goods and services. They are collected on each litre of diesel sold in India. Value-added Tax (VAT) and excise duty are charged by states and the center respectively. Excise duty will always be expressed in terms of rupees. On the other hand, VAT is expressed in terms of percentage always. On diesel per litre, in Jodhpur, excise duty was Rs.15.33 in June 2018 whereas VAT was 24.28%.
As on 3 June 2018, crude oil price for a barrel of 159 litres was $78.3, which was equivalent to Rs.5,245. When we divide Rs.5,245 by 159, we arrive at the cost of a litre of unrefined oil, which is Rs.32.98. Crude oil cost per litre is another prime cost factor of the Retail Selling Price of diesel in your city. OMC costs stood at Rs.8.10 on diesel per litre as on 3 June 2018 whereas the commission charged by fuel dealers was Rs.2.53 a litre. Pollution cess was 25 paise per litre when revised recently. Diesel price in Jodhpur is alternatively stated as the sum of excise duty, pollution cess, VAT, cost of unrefined oil, OMC overheads and dealer commission.
Elements Impacting Diesel Price in Jodhpur
- Exchange Rate: We consider the impact of exchange rate of the INR versus the USD since unrefined oil is marketed by other countries such as OPEC. If the INR starts falling against the base currency, crude oil costs are comprehended to decline and vice versa. Fuel rates in the city are impacted by such variations.
- Demand and Supply: The law of demand is also applicable in this context as well. For instance, if a widely traded commodity like crude oil accrues demand, the commodity also gains its price. If the commodity starts losing demand, the price will fall. In the end, the pricing of its sub-products such as petrol and diesel gets impacted.
- Taxes: Taxes are domestic aspects affecting diesel price in Jodhpur. The lower the VAT and the excise duty, the lower is the fuel rate. Conversely, the higher the excise duty and the VAT, the higher fuel rate in Jodhpur. The State Government of Rajasthan has not restructured its VAT on diesel and petrol recently.
GST’s Impact on Diesel Price in Jodhpur
Diesel, petrol and petroleum products are outside the structure of GST till date. Dharmendra Pradhan, Oil Minister, recently said “Our government will soon bring petroleum products under the GST framework to cushion the effect of increasing diesel and petrol rates in the country.” The question now is, will the government accept this notion? If the government accepts this proposal, there will be a huge down in fuel rates. Excise and other taxes seem to surpass the true expenses of diesel and petrol in India according to market spectators. Therefore, the government is not willing to execute GST on diesel at 28%.
Diesel Rates vs Petrol Rates
Diesel is used for agricultural purposes and commercial activities. It is a subsidised fuel in India. So, diesel prices in India are lower compared to petrol prices. Like petrol, diesel also used for transportation purposes.
Also Check Diesel Price in NearBy Cities of Jodhpur
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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.