Diesel Price In Kerala Today

  • Today's Diesel Price ( 16 Oct 2019 )
    ₹ 71.47
    Current Diesel Price Per Liter
    Compare Diesel Price in Kerala (Today & Yesterday)
    Today
    (16 Oct 2019)
    Yesterday
    (15 Oct 2019)
    Rate Change
    Diesel ( / litre) ₹ 71.47 ₹ 71.47 ₹ 0 ↑
    Diesel Price in Kerala - Last 10 Days Data
    Date Diesel ( / litre)
    16 Oct 2019 ₹ 71.47
    15 Oct 2019 ₹ 71.47
    14 Oct 2019 ₹ 71.52
    13 Oct 2019 ₹ 71.52
    12 Oct 2019 ₹ 71.52
    11 Oct 2019 ₹ 71.67
    10 Oct 2019 ₹ 71.83
    09 Oct 2019 ₹ 71.89
    08 Oct 2019 ₹ 71.89
    07 Oct 2019 ₹ 72

    Diesel Rate Trend

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    • 6 Months

    Diesel price in Kerala today is fixed based on the daily ‘Dynamic Fuel Pricing’ mechanism. You can check the current diesel price in Kerala, find today's diesel price and the quarterly price trend in Kerala. It may be noted that new diesel prices in Kerala are updated by state-run oil firms daily at 6:00 am IST.

    Find out how diesel prices in Kerala are computed and how are prices compared to other states. Also, find the current Kerala diesel price and important factors affecting diesel prices in India. Also, you can find the highest and lowest price recorded in Kerala during a month.

    Diesel Rate in Kerala:

    The present financial year has seen tremendous changes with respect to diesel, which is an efficient, multi-purpose liquid fuel. The demand for diesel is mounting day by day in the country, so does with Kerala. The following sections discuss a few important aspects related to diesel from the viewpoint of a common diesel consumer from Kerala.

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

    Parameters Rates/litre
    1st August Rs.70.96
    31st Auguste Rs.70.19
    Highest Rate in August Rs.70.97 on 4, 5, 6 and 7 August
    Lowest Rate in August Rs.70.05 on 20, 21, 22, and 23 August
    Overall Performance Decline
    Percentage Change -1.08%

    Monthly Diesel Price Trend in Kerala for August 2019:

    • The diesel price in Kerala opened the month of August at Rs.70.96 per litre, unchanged from the previous day’s closing price. The rates increased slightly to Rs.70.97 per litre on 4 August. This was the highest recorded price for the month.
    • With low demand for oil in the local market and the trade war between the United Stated and China, the rates plummeted and stabilised on 12 August at Rs.70.38 per litre.
    • With no improvement in the trade relations between Washington and Beijing, the concerns regarding an economic crisis grew. This resulted in the price of diesel dropping further, with diesel recording its lowest price for the month on 20 August at Rs.70.05 per litre.
    • In the last week, the rates rose marginally before closing at Rs.70.19 per litre. The overall performance of diesel in the southern state for the month was -1.08%.

    Trend of Diesel Price in Kerala for July 2019 (rates per litre)

    Parameters Rates/litre
    1st July Rs.69.14
    31st July Rs.70.96
    Highest Rate in July Rs.71.68 on 7 July
    Lowest Rate in July Rs.69.14 per litre on 1 July
    Overall Performance Incline
    Percentage Change 2.63%

    Monthly Diesel Price Trend in Kerala for July 2019:

    • Diesel opened the month at Rs.69.14 per litre in Kerala – the lowest price recorded during the month – and inclined by the end of the week after the Centre imposed an additional excise duty and cess of Rs.2 per litre during the 2019 Budget which led the highest price of the month when diesel was sold at Rs.71.68 a litre on 7 July.
    • During the second week, diesel prices in the state declined marginally to close the week at Rs.71.22 per litre despite an inclining crude oil prices in the market amid rising tensions in the Middle East even after supply cuts led by the OPEC and its allies to keep the oil market stable.
    • The third week of July, diesel prices remained unchanged when a litre was sold at Rs.71.22 per litre despite crude oil prices continued to rise after the US Navy shot down an Iranian drone escalating tensions in the Middle East.
    • The last week witnessed a decline in diesel prices even as Oil Marketing Companies (OMCs) chose to keep diesel rates subdued although crude oil prices increased after it was reported that the US inventories declined, and after the US said it may have downed a second Iranian drone, escalating tensions in the region.

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

    Parameters Rates/litre
    2nd June Rs.71.11 per litre
    30th June Rs.69.03 per litre
    Highest Rate in June Rs.71.11 per litre on 2 June
    Lowest Rate in June Rs.68.60 per litre from 20-23 June
    Overall Performance Decline
    Percentage Change -2.92%
    • On 2 June, diesel price in Kerala stood at Rs.71.11 per litre, this was also the highest price recorded during the month amid volatile crude oil prices in the market.
    • Prices largely remained on the decline during the first and second month only to increase marginally in the third and fourth week even as crude oil prices stabilised after plummeting more than 10% in the last week of May.
    • Between 20 and 23 June, diesel prices in Kerala were at its monthly lowest when a litre of the fuel was sold at Rs.68.60 a litre even as crude prices fell due to limited supplies in the market.
    • During the course of the month, diesel prices declined by 2.92% owing to the decrease in crude prices attributed by the supply cuts led by the Organisation of Petroleum Exporting Countries (OMCs) despite geopolitical tensions in the Middle East due to US sanctions on Iran.

    Daily Revision of Fuel Prices

    All diesel bunks throughout the state have begun revising diesel rates on a daily basis since 16 June 2017. Rates will change at 06:00 a.m. every day. Each diesel bunk will display the updated price at its premises for the public. Earlier, the revision used to happen twice a month, which is on the first and sixtieth of every month by taking the average price of crude oil over the last fifteen days and the exchange rate of the INR to the USD.

    The new fuel pricing mechanism also considers the variations in overseas crude oil and the exchange rate fluctuations. Unlike the previous revision methodology, variations in the exchange rate and oil rates will be instantaneously shifted to end users of diesel. The new system also makes fuel pricing more transparent. Diesel outlets can practice the best stock management practices under the new system.

    Diesel consumers will not be impacted much by dynamic fuel pricing as the variations in diesel prices are not so high. In the earlier system, prices used to change in big margins. With the daily revision in practice, all state-owned oil marketing firms offer an SMS service, a customer care service and an online service for diesel consumers from Kerala to get the latest diesel prices.

    Diesel Prices in Kerala

    The average price of diesel for the last five days is Rs.61.998. The rate has fallen by more than two rupees since 3 October 2017. It is because of the reduction in the central excise duty. Before deducting the excise, the diesel rate was Rs.64.3 on 3 October 2017.

    How to Compute Diesel Price in Kerala

    Like any other cities, the cost structure of diesel in Kerala consist five elements that include the cost of crude oil including freight charges, refinery transfer price, the profit margin of oil marketing companies (OMC), dealer commission, and the state and the central tax on diesel. 50% of retail selling price consist tax elements.

    As we all know, India is a huge importer of crude oil. When oil marketing companies import crude oil from overseas oil companies, oil manufacturing companies remit the cost of crude oil in addition to freight charges. Refinery transfer price is the price charged by refineries to transform raw oil into diesel. It will be fixed. The possession of refined oil will be held by oil marketing companies till it is delivered to dealers for sale.

    Oil marketing companies then add a certain percentage of profit on the cost of crude oil and the refinery transfer price. Diesel is taxed by the state government and the central government as well. With effect from 4 October 2017, the government of Kerala taxes diesel by 29.21%. The central excise duty imposed by the central government is applicable to all states of India.

    Why do Diesel Costs fluctuate in Kerala?

    The factors that affect diesel prices in Kerala can be clubbed into two categories. The first category includes domestic factors and the second category includes international factors. The tax components can be considered as domestic factors. The central government retains the right to decrease or increase the central excise duty. It was recently revised on 4 October 2017. After reducing the excise duty, the cost of diesel has come down by more than Rs.2 in Kerala.

    Another tax component is the state VAT, which is administered by respective state governments. The cost of diesel will come down if the state government of Kerala reduces the VAT on diesel. It will go up if the local tax increases. The cost of crude oil and the currency conversion rate can be considered as international factors. Crude oil rates are impacted by a lot of factors including overseas political events, the economics of oil-producing countries, export and import procedures, the ratio of global reserves and supplies, and seasonal conditions.

    The exchange rate fluctuates often. It is related to the cost of crude oil. If the base currency falls against the local currency, the cost of raw oil will be cheaper in Indian rupees. If the local currency falls against the base currency, the cost of crude oil will be increased proportionately. As a result, the performance of the exchange rate will direct affect diesel prices in Kerala and other Indian cities.

    What is the Impact of GST on Diesel Price in Kerala?

    The retail selling price (RSP) of all types of goods and services have slighted changed since the rollout of the Goods and Services Tax (GST) in the month of July 2017. But, diesel rates have remained unchanged in the state. GST is not applicable to five petroleum products including diesel. Many of us know that the highest GST rate fixed by the GST Council till date is 28%.

    Even if diesel in Kerala is taxed at 28%, the current rate of diesel will fall by at least 20-30%. The implementation of GST will harm the revenue source of the central and state governments. Goods and Services Tax (GST) is not applicable to the entire oil and natural gas industry. All industrial players will not pay tax under the scheme of GST. If the industry is brought under the regime of GST, the compliance cost will be doubled as all participants have to follow the current tax regime and the GST slab.

    Diesel Rates vs. Petrol Rate in Kerala

    Diesel is priced less compared to petrol because it is a subsidised commodity. The net difference between the current rate of petrol and diesel in Kerala is reasonable like any other state. The prices of petrol and diesel offered by different oil brands will change a bit. They are expected to go up slightly over the next one or two months.

    Also Check Diesel Price in NearBy Cities of Kerala

    *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 Kerala

    • OMCs keep diesel prices constant in the country

      The rates of diesel were kept constant for the second consecutive day on Monday. State-owned Oil Marketing Companies (OMCS) after the daily revision in the prices on Monday charged Rs.66.46 for a litre of diesel in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai a litre of diesel were retailed for Rs.69.66, Rs.68.82, and Rs.70.20 respectively.

      Consumers residing in non-metropolitan cities like Noida and Gurugram were required to pay Rs.66.72 and Rs.65.66 for a litre. The price of diesel is the cheapest in the national capital among all metropolitan cities and state capitals due to lower taxes. It needs to be mentioned here that since the start of October diesel prices have been on the decline in the country.

      In the international oil market, the prices of crude oil remained stable on Monday owing to renewed geopolitical tensions in the Middle East. The futures of Brent crude oil were up by 9% since the last close.

      It must be noted here that the rates of fuel are revised daily in the country as per the dynamic pricing scheme. 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.

      15 October 2019

    • Diesel Rates Decline, Petrol Remains Unchanged Today

      State-run Oil Marketing Companies (OMCs) cut diesel prices by 6 to 11 paise per litre today, while kept petrol prices stagnant across major metro cities of the country. In Delhi, petrol costs Rs.72.90 per litre, no revision compared to yesterday’s price, while diesel costs Rs.66.24 per litre compared to yesterday’s price of Rs.66.34 per litre, down by 10 paise. Yesterday, OMCs reduced diesel prices by 11 to 16 paise per litre but chose to keep petrol rates unchanged across the country. Also, the retail price of petrol and diesel petrol pump prices in Delhi are the lowest among all major metros due to lower taxes.

      In Mumbai, petrol is being sold at Rs.78.52 a litre, no change compared to yesterday’s price while diesel is being sold at Rs.69.43 per litre, down by 10 paise. In Kolkata, petrol is being retailed at Rs.75.12 per litre and diesel was being sold at Rs.68.31 per litre, down by 6 paise. In Chennai, petrol costs Rs.75.70 a litre and diesel costs Rs.69.96 per litre compared to yesterday’s rate of Rs.70.07 per litre, down by 11 paise. In Gurugram, petrol is available at Rs.72.75 per litre, no revision compared to yesterday’s price, while diesel costs Rs.65.43 per litre, down by 9 paise compared to yesterday’s price of Rs.65.52 a litre. In Noida, petrol costs Rs.72.23 per litre and diesel costs Rs.65.34 per litre, down by 8 paise as against yesterday’s price of Rs.65.42 a litre. On Friday, crude oil prices in the international market inclined as US oil producers in the Gulf of Mexico cut more than half their production amid a tropical storm. International benchmark Brent crude futures were trading at $66.81 per barrel, inclining by 29 cents or 0.4% compared to its previous close.

      15 July 2019

    • Petrol Prices Kept Unchanged for Second Consecutive Day

      Oil Marketing Companies on Tuesday kept the rates of petrol unchanged. This was the second consecutive day when the prices were not hiked or slashed. In the national capital i.e., New Delhi every litre of petrol was retailed for Rs.69.93. In Mumbai, consumers were required to shell out Rs.75.63 for one litre of petrol. In the other two metropolitan cities of the country i.e., Kolkata and Chennai state-run OMCs charged Rs.72.19 and Rs.72.64 respectively. In non-metropolitan cities of the country like Noida and Gurugram, every litre of petrol was retailed for Rs.69.94 and Rs.70.46 respectively.

      In the international oil market, crude prices dropped on Tuesday after more indications emerged that global economic growth is being hit by US-China trade tensions. The futures of Brent crude oil were down by 16 cents or 0.3% since their last close to be trading at $60.78 per barrel. The prices of petrol have fallen by Rs.1.69 per litre this month. The rates have been on a downward trend since May 29. It needs to be mentioned that the rates charged for fuel in the country are dependent on global crude prices and the value of rupee against the US dollar.

      20 June 2019

    • Diesel Prices Hiked by 5 paise across the Metropolitan Cities

      Oil Marketing Companies (OMCs) on Friday hiked the rates of diesel across the four metropolitan cities of the country. The rates were hiked by 5 paise per litre following the daily revision. In New Delhi, the rates charged for a litre of diesel was Rs.65.86 while in Mumbai consumers had to pay Rs.69.11 for one litre. In the other two metropolitan cities of the country i.e., Kolkata and Chennai OMCs charged Rs.67.71 and Rs.70.39 per litre respectively.

      On Friday, the rates of Brent crude oil shot up even though tensions escalating in the Middle East raised fears of supply disruptions. Brent crude was trading at $73 per barrel after its futures jumped by 38 cents since the last close. With India importing 80% of its crude oil requirements, the rates of fuel are dependent on the global crude prices and the value of rupee against the US dollar. It needs to be mentioned here that the rates of diesel in the national capital had shot up to an all-time high of Rs.75.45 per litre in the month of October 2018.

      21 May 2019

    • Centre Seeks Saudi Arabia’s Help in Easing Oil Prices

      With crude oil prices on the rise, Oil Minister Dharmendra Pradhan has asked Saudi Arabia, the world’s largest oil exporter, to play a pivotal role in keeping crude oil prices at a reasonable level. Fuel prices have inclined by more than Rs.2 per litre in the last one month amid significant rise in crude oil rates in the oil market. Crude oil prices have inclined on hopes of the US and China ending a trade war which has slowed down the global economic growth and Russia announcing it would increase its crude supply cuts. Mr Pradhan referred to Saudi Arabia’s important role as a leading oil exporter in the world and in maintaining the stability of the global oil market. He also raised concerns about the increasing trend of oil prices as well as pointed to the need for uninterrupted supplies of crude oil and LPG to India amid OPEC-led supply cuts.

      In the last one month, petrol prices have increased by Rs.2.12 per litre and diesel rates have gone up by Rs.2.03 a litre. Also, during the meeting, both the countries agreed to take steps for early implementation of the decisions taken in the oil and gas sector. Saudi Arabia is the second largest supplier of crude oil and LPG to India.

      10 March 2019

    • Crude oil prices has climbed to its highest price in 2019

      So far this year, crude oil prices have touched the highest price on Monday, 21 January 2019, caused by the supply cuts commanded by the member countries of the Organisation of Petroleum Exporting Countries (OPEC). For the first time in 2019, WTI crude oil rate was above $54 per barrel and Brent crude price was above $63 per barrel. International Brent crude oil futures were up 0.1% to $62.77 a barrel at 0726 GMT. Irrespective of a sluggish economic growth in China in 2018, crude oil gained demand.

      JP Morgan said, “Crude oil prices are likely to be supported by a supply cut led by the OPEC members. The price of Brent shall remain at a price of above $60 per barrel triggered by a slowdown in the growth of US throughout, expiration of Iran waivers, OPEC plus compliance. The number of rigs drilling for oil has been reduced by 21 by the energy firms in the United States of America. Since February 2016, it is the biggest fall.

      22 January 2019

    • Diesel prices have accelerated by Rs.2 per litre so far this year

      Oil companies have increased diesel prices by Rs.2.12 per litre. The price started increasing from 7 January, 2019. A litre of diesel in Delhi costs Rs.64.78, Rs.64.10 in Noida, Rs.67.71 in Gurgaon, Rs.67.82 in Mumbai, Rs.66.91 in Gurgaon, Rs.66.91 a litre in Bangalore and Rs.76.11 in Mumbai.

      Important aspects related to diesel rates

      ·         The price of diesel has gone up by Rs.2.12 a litre this year so far. It started increasing from 7 January.

      ·         Between October and December, diesel rates declined by 15% and during the same period, Brent was down by 25%.

      ·         Diesel rate touched the record high at Rs.75.45 per litre in Delhi and Rs.80.10 a litre in the financial capital.

      ·         For the second day, crude oil cost closed higher as it has been indicated by Saudi Arabia and Russia that they were on track with the production cuts in crude oil systematized to dodge an international surfeit. Natural and gas rates shall be volatile according to Moody’s Investors Services.

      ·         The falling INR makes imports costlier.

      ·         Over the last four days, the dollar has appreciated by 1.16%. So far this year, the INR fell 2.06%.

      18 January 2019

    • Government Considering a Hike in Fuel Excise Duty

      Even if there has been a recent drop in the prices of crude oil, it’s unlikely that the Indian Government would reduce the prices of petrol and diesel in the country. That’s because it had already reduced the excise duty on petrol and diesel by Re.1 a litre in the first week of October. Since this move will hurt the fiscal position in a poll year, the government is now considering a hike in the excise duty of petrol and diesel by Re.1- Rs.2 a litre. Also because of the drop of nearly 30% in the prices of crude oil in the last two months, the government has the room for a hike in the excise duty.

      The government is currently imposing a per litre excise duty of Rs.18.48 and Rs.14.33 on petrol and diesel respectively. In Mumbai, the price of petrol at the beginning of this week fell below Rs.80 per litre. That’s chiefly because of two reasons – the drop in crude oil prices and an appreciation in the rupee.

      7 December 2018

    • Government May Opt to Control Retail Fuel Prices to Curb Inflation

      Fuel prices have been on the rise for the last month or so with rates reaching all-time highs in most cities in the country.

      According to Standard and Poor's Global Ratings, the government is looking to curb retail fuel prices to curb inflation. The move can happen because the Indian rupee has slid more than 10% in the recent weeks and crude imports are getting expensive, which in turn is pushing fuel prices up.

      India imports as much as 80% of its crude from the OPEC nations, and the lower exchange value of the rupee has made life tougher for commuters. Vishal Kulkarni, a credit analyst for S&P said that the rising fuel prices has affected normal life in the country and with the elections in mind in less than a year, the government could take measures to curb the rising prices.

      He further said that the government isn’t likely to take up any subsidy approach, instead it will look at other options to cushion the inflationary concerns. Inflation is a sensitive subject in the country and the government is likely to do as much as it can to not affect the cost of everyday things.

      1 October 2018

    • Diesel Costs Rs.73.78 per litre in the National Capital

      With Oil Marketing Companies (OMCs) showing no signs to cutting down the prices of diesel in the country, the rates have continued to soar. As of Monday, consumers in the national capital had to pay Rs.73.78 for every litre of diesel. In Mumbai, the prices were even higher as commuters were needed to spend Rs.78.33 per litre. The hike in the prices of diesel has been accounted to factors like high crude oil prices, a weak rupee, and the high excise duty rates imposed by the government. Given the reasons, a continuous hike in the diesel prices has been witnessed in the country.

      19 September 2018

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