Diesel Price In Kozhikode Today

  • Today's Diesel Price ( 17 Oct 2021 )

    ₹ 99.26
    Current Diesel Price Per Liter

    Compare Diesel Price in Kozhikode (Today & Yesterday)

    Rate Change
    Diesel ( / litre) ₹ 99.26 ₹ 99.26 ₹ 0 ↑

    Diesel Price in Kozhikode - Last 10 Days Data

    Date Diesel ( / litre)
    16 Oct 2021 ₹ 99.26
    15 Oct 2021 ₹ 99.26
    14 Oct 2021 ₹ 98.89
    13 Oct 2021 ₹ 98.52
    12 Oct 2021 ₹ 98.52
    11 Oct 2021 ₹ 98.52
    10 Oct 2021 ₹ 98.15
    09 Oct 2021 ₹ 97.78
    08 Oct 2021 ₹ 97.41
    07 Oct 2021 ₹ 97.05

    Diesel Rate Trend

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    Diesel Price in Kozhikode

    Kozhikode, also known as Calicut, is an urban and upcoming metropolis city in the Indian state of Kerala. Diesel is an essential commodity in the city as the public transportation system depends on the fuel. The public transportation system in Kozhikode is supported by private buses which offer services within the city and to nearby areas. Apart from buses, there are auto rickshaws and taxis which operate in the city.

    Diesel prices in Kozhikode are changed every day in tandem with the global crude oil price and the US dollar exchange rate. There are several components which impact the price of diesel in Kozhikode. With diesel prices fluctuating on a daily basis, it’s imperative to know the elements which prompt State-owned oil companies to revise diesel prices on a daily basis.

    Also Know: Diesel Price in Kerala

    How is the Diesel Price in Kozhikode Assessed?

    Diesel is purchased in its crude form by Oil Marketing Companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum - who operate more than 90% of fuel stations in India - from the Organisation of Petroleum Exporting Countries (OPEC). The crude or unrefined oil forms the base of the diesel price in Kozhikode. Besides, there are several other factors which are taken into consideration to assess the diesel price in Kozhikode.

    • Global Crude Oil Rate: India imports more than 70% of crude oil from oil-producing countries. The cost of crude oil is dynamic in nature which is influenced by the increase or decrease in production, shortage in supply, higher demand, and geopolitical tensions. Whenever there is an instance of increase in the production of crude oil, the global crude oil price decreases and vice versa. Also, countries such as India and China typically have a higher demand for crude oil to supplement its economy. An instance of high demand leads to an incline in crude oil prices and in turn, affects the diesel price. Therefore, any fluctuations in the global crude oil impact the diesel rate in Kozhikode and in other cities.
    • US Dollar Vs. Indian Rupee Exchange Rate: Trading of crude oil happens in US dollars. If the US dollar weakens over the Indian Rupee, the crude oil price decreases and in tandem the diesel prices fall as well. However, if the US dollar strengthens, then the diesel price increases accordingly.
    • Excise Duty & Value Added Tax on Diesel: The Centre levies Rs.15.33 per litre as excise duty, while the state of Kerala charges 25.60% as the VAT. Any revision in the taxes leads to fluctuations in the diesel price in Kozhikode.
    • Profit Margin & Commission to Dealers: Oil companies purchase crude oil, transport it through the sea and refine it before it’s retailed as diesel in the country. The fuel company include their profit margin, operating costs and the commission to dealers (petrol pump owners) before diesel is sold in its Retail Selling Price (RSP). If oil companies revise these charges, the diesel price in Kozhikode is revised accordingly.
    Also Know: Petrol Price In Kozhikode

    How is the Diesel Price in Kozhikode revised?

    Diesel prices are revised on a daily basis in sync with the global crude oil price and the currency conversion rate. This method is known as the ‘dynamic fuel pricing’ mechanism. Under this mechanism, fuel companies include the preceding day’s crude oil rate and the US dollar exchange value before selling the fuel at its final selling price.

    The dynamic fuel pricing mechanism has benefitted by both oil companies as well as consumers. Any reduction in the crude oil rate is passed on the customers immediately. Also, if there’s a hike in the crude oil rate, oil companies are able to pass on the increment to the customer and not incur losses.

    Prior to the ‘dynamic fuel pricing’ mechanism, India followed the fortnight revision method. Diesel prices were revised on the 1st and 16th of every month. Fuel companies would take the average of the preceding fortnight price of crude oil and the currency exchange rate. However, any sudden spike in the crude oil rate, fuel companies had to wait for a fortnight to pass on the increase to the consumer, thereby incurring losses. To avoid the losses, the dynamic fuel pricing was introduced from 16 June 2017.

    Tips to Track the Current Diesel Price in Kozhikode

    Fuel companies have introduced several innovative methods to track the latest diesel price in Kozhikode as well as other cities in the country. Below are the tips to track the latest fuel price:

    • Via Mobile Apps: Indian Oil has launched the ‘Fuel@IOC’ app which offers the latest diesel price, Bharat Petroleum has introduced the ‘SmartDrive’ app, while Hindustan Petroleum consumers can track the current diesel price through the ‘MY HPCL’ app.
    • Via SMS: Consumers can find the current diesel price by sending SMS to respective oil companies. The process below will enable you to find today’s diesel price in Kozhikode.
      • IOC: Type RSPDealer Code and send SMS to 9224992249.
      • BPCL: Type RSPDealer Code and send SMS to 9223112222.
      • HPCL: Type HPPRICEDealer code and send SMS to 9222201122.
    • Online Portal: Customers can get the latest diesel price through the oil companies’ respective website.

    How Often are Diesel Prices Revised?

    Diesel prices in Kozhikode are revised on a daily basis taking into account the preceding day’s global crude oil price and the currency conversion rate. The diesel price is updated daily at 6:00 a.m. IST which is automatically updated at automated fuel stations, while it’s manually updated at non-automated petrol pumps.

    Prior to 16 June 2017, diesel prices were revised on a fortnightly basis by including the preceding fortnight’s crude oil price and the US dollar exchange value. However, this didn’t let oil companies to pass on the reduction or the hike in crude oil prices to consumers and had to wait a fortnight to revise the diesel price. To offset the losses incurred and to pass on the benefits of a lower crude oil rate, the daily revision of diesel prices was introduced in the country.

    Diesel Price Breakup in Kozhikode

    To understand the concept of the ‘dynamic fuel pricing’ mechanism, let’s look at an example. Below is the breakup of the diesel price in Kozhikode recorded on 3 June 2018.

    Sl.No. Component Price
    1 Global Crude Oil Price + Freight Charges $78.30 per barrel = Rs.32.98/Litre (considering $1=66.96 and 1 barrel oil = 159 litres)
    2 Profit margin of OMCs, transportation, refining, and other operational costs Rs.8.10/Ltr
    3 Central Excise Duty + Road Cess Rs.15.33/Ltr
    4 Dealer Commission Rs.2.53/Ltr
    5 Value Added Tax (VAT) + 25p Pollution Cess with surcharge Rs.15.09/Ltr
    Total Retail selling price of diesel in Kozhikode Rs.74.03/Ltr

    GST Impact on Diesel Price in Kozhikode

    Trading of goods and services come under the new taxation system known as the Goods and Service Tax (GST). However, petroleum products such as diesel and petrol have been kept outside the ambit of the GST. The revenue generated by the Centre and the State by charging excise duty and VAT respectively is relatively higher compared to the revenue generated through the highest tax slab in the GST.

    To avoid lower revenue generation, products such as diesel has been exempted from the GST. If the government of India decides to bring diesel under GST, the diesel price will reduce and benefit consumers.

    Also Check Diesel Price in NearBy Cities of Kozhikode

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    Diesel Price In Thrissur Diesel Price In Coimbatore

    *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 Kozhikode

    • Indian Oil Corp. Sets Up Trading Desk Office to Purchase Crude on Real-Time Basis

      India’s leading oil refiner Indian Oil Corporation Ltd. (IOCL) has set up a trading desk in Delhi as its office to purchase crude oil from the global market on a real-time basis. IOC wants to cut import price by locking in the best price and quality of crude. The oil company had set up a trading desk in Singapore in 2017 but has setup the new office Delhi as it has developed in-house software and trading team to purchase crude on real-time basis. IOC said that it made its first purchase through the new office on 25 March 2019 when it purchased 1 million barrels of Nigeria’s Agbami Crude. While private players such as Reliance Industries have a local trading desk, IOC will be the first state-controlled Oil Marketing Company to set up such a trading desk. While the Singapore trading desk was utilised to purchase crude on a short-tender basis, where the purchase was decided in two-hour timeframe post receiving offers from a global seller. However, with the new desk in Delhi, IOC will be able to buy crude oil real-time basis thus offering a better price and value of the crude.

      16 April 2019

    • Fuel Prices Hiked Across Major Metros Today

      On Monday, fuel prices were increased by State-run oil firms across major metro cities of the country. Petrol prices were hiked by 5 paise per litre, while diesel rates were hiked by 6-7 paise per litre. In the national capital Delhi, petrol is being sold at Rs.70.33 per litre and diesel at Rs.65.62 per litre, hiked by 5 and 6 paise per litre, respectively. In Kolkata, petrol is available at Rs.72.44 per litre and diesel at Rs.67.40 per litre. In the financial capital Mumbai, petrol costs Rs.75.97 per litre and diesel costs Rs.68.71 per litre. In Chennai, petrol is being retailed at Rs.73.00 per litre and diesel at Rs.69.25 per litre. In Noida and Gurugram, petrol costs Rs.70.25 per litre and Rs.71.26 per litre, respectively, while diesel costs Rs.64.85 per litre and Rs.65.44 per litre, respectively.

      Fuel prices were on record highs early October 2018 amid the rise in crude oil prices when it was trading around $80 per barrel. Petrol prices breached Rs.84 per litre mark in Delhi and Rs.91 per litre in Mumbai. Since then, crude oil prices have softened prompting fuel prices to decline accordingly. In the international oil maarket, benchmark Brent Crude Oil Futures were at $61.39 per barrel, down by 7 cents, or 1.1% from the previous settlement.

      12 February 2019

    • Residents Look at Other Ways to Deal with High Fuel Prices

      As fuel prices continue to rise in the country, people are looking for alternate ways to save money. Some of the ways looked at are - resorting to abandoning automobile for bicycles, turning off air conditioners in their vehicles, and going to petrol pumps across state borders for refuelling. Since mid-August, the prices of petrol and diesel has been on an upward curve due to factors like high crude oil prices and the fall of the Indian rupee against the US dollar. Fuel prices are not uniform across the country as different states charge different percentage of taxes on fuel. Given the high prices, states like Andhra Pradesh, Rajasthan, and West Bengal had recently cut the Value Added Tax (VAT) to reduce the burden on the consumers. It needs to be mentioned that taxes on petrol and diesel which account for more than a third of retail fuel prices is one of the biggest sources of income for both central and state governments.

      24 September 2018

    • Check Out City-wise Diesel Prices on 04 June 2018

      Currently, fuel companies will use dynamic fuel pricing to fix diesel rates in tandem with overseas unrefined oil prices. Diesel rates were cut by 14 paise per litre on 04 June 2018 in Delhi. The price of non-branded diesel stood at Rs.68.97 per litre, Rs.71.52 per litre, Rs.73.43 per litre and Rs.72.82 per litre in Delhi, the national capital, Kolkata, Mumbai and Chennai respectively.

      Diesel rates were reduced minutely in other Indian cities on Monday. The rates of non-branded diesel were revised to Rs.67.04 per litre in Agartala, Rs.66.22 per litre in Aizawl, Rs.69.49 per litre in Ambala, Rs.70.16 per litre in Bangalore, Rs.72.60 per litre in Bhopal, Rs.73.94 per litre in Bhubaneswar, Rs.66.98 per litre in Chandigarh, and Rs.69.30 per litre in Dehradun.

      5 June 2018

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