• Diesel Price In Karnal Today

    Daily Diesel Rates
    Date Diesel ( / liter)
    10 Dec 2018 ₹ 63.72
    09 Dec 2018 ₹ 64.43
    08 Dec 2018 ₹ 64.43
    07 Dec 2018 ₹ 64.43
    06 Dec 2018 ₹ 64.83
    05 Dec 2018 ₹ 65.25
    04 Dec 2018 ₹ 65.25
    03 Dec 2018 ₹ 65.51
    02 Dec 2018 ₹ 65.88
    01 Dec 2018 ₹ 66.21

    Diesel Price in Karnal

    Diesel can be used for many purposes. Commonly, it is used for commercial purposes and transportation. With the growing population and diesel-based vehicles, the city of Karnal reported a decent increase in the usage of diesel. Diesel prices have also been increased by fuel marketing companies. The fuel was sold at Rs.67.27 a litre recently in Karnal, which is a city in the Indian state of Haryana. Since different states have different tax structures, diesel cannot be priced the same. On 4 April 2018, diesel was taxed at 17.28%, 24.86%, 24% and 17.59% in Delhi, Maharashtra, Tamil Nadu and West Bengal respectively.

    Fuel Enterprises

    India has three premier oil selling companies. They are Bharat Petroleum, Hindustan Petroleum and Indian Oil. The fuel market is led by these three companies. In India, the extraction of unrefined oil does not suffice the country’s requirements. Therefore, they import crude oil from other countries and sell diesel through a network of dealers in Karnal. With this introduction, let’s move on to the next aspect.

    Also Know: Petrol Price In Karnal

    Revision of Diesel Price in Karnal

    Fuel price in Karnal is now getting reviewed regularly. Fuel enterprises have started reviving the fuel rate under the system called dynamic fuel pricing. They are the authorised industry participants to price and review the value of the fuel. Like other countries, the system of dynamic fuel pricing is based on unrefined oil overheads and the exchange rate. Using the same concept, Japan and Australia also revalue the fuel.

    Also Check: Diesel Price in Ambala

    Characteristics of Dynamic Fuel Pricing

    • At 06:00 am, the new price of diesel has to be announced across all diesel points of the city.
    • Tomorrow’s diesel price in Karnal is determined considering the closing rates of unrefined oil and the currency pair.
    • Diesel stations are encouraged to fully mechanise.
    • Fuel buyers can be interlinked to real-time market performance.
    • Consumers will no longer wait for a period of 15 days to receive the benefits.

    How do I Track the Latest Diesel Price in Karnal?

    Are you checking the fuel rate regularly? If yes, how are you checking? Fuel rates can be checked using both online and offline methods. Many people still visit the nearest fuel point and get the required details. This a conventional way. Today, we use smartphones for various purposes. Smartphones can also be used to trace fuel rates in Karnal. You just need to download mobile applications and can start using them instantly. Are you a customer of HPCL? If yes, download My HPCL, which is a mobile application customised by Hindustan Petroleum.

    BPCL also has a vast number of customers spread across India. It offers a fully tailor-made mobile application called SmartDrive. Similarly, the customers of Indian Oil have an opportunity to obtain the fuel related details by using Fuel@IOC. Each mobile application has unique features and is easy to access. Another option you can consider is online portals. Just visit the authorised website of your favorite brand to get the information you wanted. Mobile applications and online portals are completely reliable and are extremely useful.

    Computation of diesel rate in Karnal

    We need to first understand the role and responsibility of each industry participant. OMCs buy crude oil from international markets. After converting crude oil into diesel, they will distribute the fuel to customers. Fuel marketing stations are owned and managed by retail investors. They work for a commission. The Central Government is another industry participant. It just levies excise duty. The role of the respective state government is limited only to the execution of Value-added Tax.

    The Retail Selling Price of diesel not only in Karnal but also in other parts of the country is ultimately fixed by OMCs. It is inclusive of crude oil rates, state taxes, central taxes, commissions charged by fuel owners, etc. OMCs consider the aggregated price of WTI and Brent. Excise duty is constant. Unlike VAT, it does not change. According to official sources, excise duty and VAT were Rs.15.33 a litre and 17.22% respectively in the month of May 2018.

    Fuel rate = central taxes + state taxes + crude oil expenses + commission

    Factors Influencing Fuel Prices in Karnal

    Fuel rates have accelerated in January 2018 and have fallen reasonably in February 2018. They have further increased in March 2018. Do you want to know the reasons behind these changes? Well, both external and internal factors can change fuel rates. External elements include climate reports, political initiates, currency values, costs of crude oil, etc. How do they impact? Bad weather conditions will interrupt the production of unrefined oil. Thus, there can be a hike in crude oil costs. When crude oil expenses increase, diesel rates in Karnal will decrease.

    We cannot ignore the exchange rate in this case. It is taken into consideration when something is imported by India. OMCs have to pay crude oil costs while importing unrefined oil. The price has to be paid in US dollars. In overseas markets, if the USD/INR currency pair appreciates, crude oil costs will decrease proportionately. If the currency pair depreciates, there can be a reasonable downfall in crude oil rates. Ultimately, fuel prices get impacted. Internal factors include taxes and commissions. Both taxes and commissions can be revised.

    Usually, the Central Government may cut the excise duty on diesel to reduce the diesel price in Karnal. Or, it may increase the excise duty to increase the current fuel rate in Karnal. For instance, over the last 4 years, excise duty has been revised many times. In October 2017, Maharashtra, Uttar Pradesh and Gujarat reduced the VAT on diesel. After the announcement, fuel rates were adjusted accordingly.

    Will GST Impact Diesel Price in Karnal?

    GST does not impact diesel price in Karnal. It is a unified tax framework introduced in India in July 2017. There are four tax slabs: 5%, 12%, 18% and 28%. The highest tax slab fixed by the GST Committee so far is 28%. When GST is implemented on diesel at the highest rate of 28%, fuel rates in the city of Karnal are expected to fall. So, diesel has not been included under GST.

    Also Check Diesel Price in NearBy Cities of Karnal

    Diesel Price in Faridabad Diesel Price in Chandigarh Diesel Price in Jaipur
    Diesel Price in Gurgaon Diesel Price in Hisar

    *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 Karnal

    • Fuel Prices Down by Nearly 8% During the Last 30 Days

      Following the consecutive reduction in fuel prices in the country, petrol and diesel prices are now at their lowest in the last 30 days. Prices of petrol have been cut by 50 paise per litre today. With the reduction in prices, petrol costs Rs.73.57 per litre in Delhi, Rs.79.12 in Mumbai, Rs.76.35 in Chennai, Rs.75.57 in Kolkata and Rs.74.15 in Bengaluru. Diesel is being sold at Rs.68.49 per litre in Delhi, Rs.71.71 in Mumbai, Rs.72.34 in Chennai, Rs.70.34 in Kolkata and Rs.68.85 in Bengaluru. The drop in petrol and diesel prices is not just on the account of falling crude oil prices in the global market but also because of reduction of excise duty by the Centre and local sales tax or VAT by several states. Also, State-run oil companies are bearing additional Rs.1 per litre as a subsidy on the instruction of the Union government. Crude oil prices had touched a four-year high of $80 per barrel which is now trading around $60 which influenced the significant rise in petrol and diesel prices in the country early October.

      29 November 2018

    • Brent Crude Oil per Barrel to Touch $100 the next year

      “Crude oil prices were observed not dropping below the price mark of $65 per barrel and they may touch the price range of $100 per barrel the next year owing to the sanctions of the United States of America (USA) on Iran,” said, the biggest trading company in the world. Crude oil prices rallied this year since the export of crude oil from Iran shall decline. The price of Brent crude oil touched a price range of $86.74 per barrel and this is the highest rate since 2014. The demand for crude oil may get hit because of the crisis in the emerging marketplaces. At an oil conference held in London, who is the chief executive of Trafigura, Jeremy Weir, said, “I am not surprised to see the price of crude oil retailing at $100 per barrel the next year.” At the similar event, Alex Beard, who is the chief executive for oil and natural gas at Glencore, said, “He expects the mid-term crude oil prices to be $85-90 per barrel.”

      12 October 2018

    • Diesel Prices Remain Unchanged as of Wednesday

      While petrol prices were hiked by 6 paise on Wednesday, Oil Marketing Companies (OMCs) decided to not hike the prices of diesel in the country. Currently, the rates that consumers are needed to pay for every litre of diesel is Rs.73.87 in Delhi and Rs.78.42 in Mumbai. Of late, the prices of diesel has been on an upward curve due to a combination of high crude prices and depreciating rupee. It needs to be mentioned that the rates of diesel have risen by Rs.5.15, the most in a one-month period since the dynamic fuel pricing scheme was adopted by the OMCs in June 2017. While the rates have been going up in the last few weeks there have been demands that the excise duty rates are cut by the government, however, it has fallen on deaf ears. The government has declined to cut the rates as it estimates a revenue loss of Rs.28,000 to Rs.30,000 crore. Given the reluctance of the central government to cut the excise duty rates, certain state governments have reduced the VAT imposed on diesel to bring relief to the consumers.

      21 September 2018

    • Oil and Natural Gas Corporation Limited (ONGC) has been asked by the government to list its international unit

      The Government of India has asked Oil and Natural Gas Corporation to list ONGC Videsh, an international unit. The unit has investments in eleven fabricating assets in nations including Iran, Brazil and Russia. By listing the unit, the government is planning to sell state-assets in order to accumulate funds. According to a letter released from the Department of Investment and Public Asset Management to ONGC, a listing aids unravel value in the unit by enriching its efficiency and corporate governance. It has not been released that how much of ONGC must be offered to external investors.

      According to the letter, any state-run oil marketing company that has no accumulated losses but has a positive net worth must be registered in order to unlock value. When the overseas unit of ONGC is listed, the government can reach its divestment goals. It has been targeted by the BJP Government to accumulate 1 trillion rupees by selling state assets in the present financial year completing in the month of March 2018. In ONGC, the parent company of ONGC Videsh, the government retains a stake of 67.45%.

      29 August 2018

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