• Diesel Price In Kolhapur Today

    Daily Diesel Rates
    Date Diesel ( / liter)
    13 Dec 2018 ₹ 66.93
    12 Dec 2018 ₹ 66.93
    11 Dec 2018 ₹ 66.93
    10 Dec 2018 ₹ 67.14
    09 Dec 2018 ₹ 67.9
    08 Dec 2018 ₹ 67.9
    07 Dec 2018 ₹ 67.9
    06 Dec 2018 ₹ 68.32
    05 Dec 2018 ₹ 68.77
    04 Dec 2018 ₹ 68.77

    Diesel Price in Kolhapur

    Diesel price in Kolhapur, a historic city in the Indian state of Maharashtra, varies on a daily basis due to the dynamic pricing model implemented in India since June 2017. With the introduction of the new pricing mechanism, India joins other developed countries such as Australia, Japan, USA and Russia. According to dynamic pricing model, diesel prices in Kolhapur should be revised by 6.00 a.m. every day by considering international crude oil price and currency exchange rate.

    Components of Diesel Pricing in Kolhapur

    Besides international crude oil prices and currency exchange rate there are other elements that make up diesel price in Kolhapur. While the two factors, affect diesel price on a daily basis, there are other components that make -up diesel price in India.

    The domestic elements that affect diesel price on a daily basis are state and central government taxes, profit margins of fuel companies and dealers commission. Let’s look at each element in detail.

    Also Know: Petrol Price In Kolhapur

    Indian oil companies purchase crude oil from other countries which have rich oil reserves. The price of crude oil is dynamic in nature. It is primarily affected when there is a reduction in production in oil exporting countries and when the weather is not supportive to extract crude oil. Further, the demand for oil also affects the price of crude oil in global markets. Since dynamic fuel pricing is being implemented in India, any change in international crude oil price will proportionately impact the petrol price in Kolhapur.

    Indian fuel companies purchase crude oil in international markets by paying in US dollars. When the oil reaches India, the price is then converted into Indian currency. Therefore dollar to rupee exchange rate, which represents the value of the dollar against Indian currency, would be considered on daily basis for computing diesel price in Kolhapur. If the dollar gains against Indian rupee, the price of crude oil increases. If Indian rupee gains against US dollar, diesel price in Kolhapur and other Indian cities will decrease accordingly.

    At the domestic level, two major factors that are considered in computing diesel price are the state and central government taxes. While the central government levies excise duty on every litre of diesel sold in the country, the state government charges value-added tax (VAT), which varies from one state to another.

    Other minor components involved in diesel pricing in India are the profit margins of oil companies and dealers commission. The Indian oil companies after purchasing crude oil from other countries, refine it to extract petrol, diesel and other fuel products. The companies thus add refining costs and transportations costs to the cost price of oil. Once they sell the refined oil to petrol dealers, they add station maintenance costs, oil transportations costs and others in the form of dealers commission to the cost price of diesel.

    Taxes Levied on Diesel in Kolhapur

    As discussed earlier there are two different taxes being levied on diesel. While the central government’s excise duty remains same across the country, VAT on diesel changes with respect to every state.

    Currently, the central government collects an excise duty of Rs.15.33 per litre of diesel. The Maharashtra state government levies VAT of 24.86% on every litre of diesel sold in the state.

    Frequently Asked Questions (FAQs) on diesel price in Kolhapur

    1. Who will decide diesel prices at pump level in Kolhapur?
    2. Ever since diesel prices are deregulated in India, the prices of the commodity are being aligned to international crude oil prices. Diesel prices at petrol pumps are under the control of respective fuel companies. For instance, Hindustan Petroleum decides the pump price of diesel at all the petrol pumps in Kolhapur. Besides the price of Indian crude basket, the oil companies also consider the cost of transporting fuel to petrol stations and the cost of running a fuel pump.

    3. Why does diesel price in Kolhapur different from other Indian cities?
    4. The state government’s value-added tax (VAT) is one of the components that make up diesel price. Currently, the Maharashtra government levies VAT of 24.86% per litre of diesel. The same tax rate is applied in Kolhapur as it is a city in Maharashtra. Since the VAT rate varies from one state to another, diesel price is respective cities change accordingly. Hence diesel price in Kolhapur is different from the price in other Indian cities.

    5. Why does diesel price in Kolhapur change every day?
    6. Diesel prices across India vary on a daily basis due to the dynamic fuel pricing mechanism being implemented in the country. The new model makes diesel prices in the country align with the international crude oil prices and currency exchange rate. To compute today’s diesel price in Kolhapur, the price of Indian crude oil basket and the closing currency exchange rate in the yesterday’s market will be considered.

    7. What is the effect of GST on the diesel prices in Kolhapur?
    8. GST or the goods and services tax is the new tax regime implemented in India to bring uniform tax structure across the country. However, GST is not applicable on all goods and services. Few products and services are kept outside the GST net including petrol and diesel. Hence, the effect of GST on diesel prices in Kolhapur and other Indian cities is zero.

    Also Check Diesel Price in NearBy Cities of Kolhapur

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    Diesel Price in Hyderabad Diesel Price in Nagpur
    Diesel Price in Mangalore

    *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 Kolhapur

    • Diesel Prices Go Down for the 9th Consecutive Day on Friday, Commuters Relieved

      After what looked like a month and half long fuel price increase, the last week and a half has come as a major relief for commuters around the country. Diesel prices have dropped by as much as Rs.3-4 per litre over the last week or so, making fuel and commute considerably cheaper for regulars.

      In Delhi, diesel was priced at Rs.74.73 per litre while in Mumbai the same was priced at Rs.78.33 per litre. Other metro cities also saw diesel prices drop with Chennai and Kolkata recording prices of Rs.79.02 per litre and Rs.76.58 per litre respectively/

      This drop was made possible after Brent Crude - the trademark for crude prices - dropped to $76 per barrel after having hit the $86 per barrel mark just a few weeks ago. Commuters are happy with the rapid decrease in petrol prices as their commute to their office looks a lot less expensive now as compared to the volatility of every day seen a little over 10 days ago.

      Earlier in the month, the government had decided to slash tax on fuel to the tune of Rs.2.50 per litre after they were seen rising to unprecedented highs. With 2018 Lok Sabha elections nearing, the price drop will be seen as a relief by the government as well.

      29 October 2018

    • Government Looking to Lock in Oil Futures to Cut Crude Prices

      The government is apparently working on pushing state run oil companies to lock in the futures on crude oil in order to combat the rising prices.

      India, which imports over 80% of the crude currently to meet its demand, will be hit by a rising crude significantly as the United States’ sanctions against Iran will kick in from the November of this year.

      This move would also have an impact on the rupee, which has been falling steadily over the last few days as it could help curb the fall in the coming months.

      A source close to the government has stated that crude futures should be locked down when the price is low, and that this decision should have been taken at a much earlier date. A senior financial ministry official also said that if the step doesn’t have the desired effect and curb the speculation, the rupee could drop further as far as November. An official from Indian Oil Corporation also said that a move along these lines is being worked on, but failed to give out any information citing that this was market sensitive information.

      24 September 2018

    • Fuel Price - Petrol and Diesel Rates Reduced Marginally on Monday

      The petrol and diesel prices in New Delhi were cut by 15 paise and 14 paise respectively on Monday, June 4. This is the sixth consecutive day that the fuel prices have been slashed. This cut follows the fuel price hike which went on for 16 days and took the prices to their highest levels in years.

      The price of petrol on Monday in New Delhi stood at Rs.77.96 per litre, while the price of non-branded diesel stood at Rs.68.97 per litre. Other metropolitan cities soon followed suit and similar price cuts were observed in other cities as well.

      Petrol price in Kolkata stood at Rs.80.60 per litre, while in Mumbai, the petrol price was Rs.85.77 per litre. The price of petrol in Chennai on Monday was Rs.80.94. The respective prices for non-branded diesel in the aforementioned cities are Rs.71.52 per litre, Rs.73.43 per litre, and Rs.72.81 per litre.

      4 June 2018

    • Diesel Prices Continued to Move Upwards

      Diesel prices have continued to move upwards. They stood at Rs.68.75 per litre and Rs.73.20 per litre respectively in Delhi and Mumbai. They were at their previous highs in a few towns such as Delhi and Mumbai. On Friday, the prices of diesel stood at Rs.68.75 per litre, Rs.71.30 per litre, Rs.73.20 per litre and Rs.72.58 per litre in Delhi, Kolkata, Mumbai and Chennai respectively, according to Indian Oil Company. On Thursday, the government was contemplating to bring both short-term and long-term actions in order to depreciate fuel rates. M K Surana, Chairman at Hindustan Petroleum Corporation Limited, said “Including petroleum products under the GST regime has been a long-run solution.”

      25 May 2018

    • Diesel Prices on a rise in Kolhapur, a city in Maharashtra

      The cost of diesel in Kolhapur, a prime city in Maharashtra, has now reached Rs.66.04 a litre on 21 January 2018. We could observe a growing trend as far as the price of diesel is concerned over the previous 15 days. So far this year, diesel prices in the city of Kolhapur gained by Rs.3.20 a litre. According to market experts, the price upsurge recorded over the previous 21 days, is the highest since the advent of the daily price revision. This shall negatively affect the country’s inflation in the future.

      About 20% of the entire structure of the inflation catalogue is instituted by diesel prices and also petrol prices. One of the city-specific economists said “The prices of other commodities will also get affected by growing fuel rates. For instance, an increase in diesel rates will enhance the cost of transportation and has an unfavorable impact on commoners. If the cost of transportation increases, the cost of other commodities such as vegetables will boost.

      22 January 2018

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