Diesel Price In Lucknow Today

Daily Diesel Rates
Date Diesel ( / liter)
15 Dec 2018 ₹ 63.78
14 Dec 2018 ₹ 63.78
13 Dec 2018 ₹ 63.85
12 Dec 2018 ₹ 63.85
11 Dec 2018 ₹ 63.85
10 Dec 2018 ₹ 64.03
09 Dec 2018 ₹ 64.65
08 Dec 2018 ₹ 64.65
07 Dec 2018 ₹ 64.65
06 Dec 2018 ₹ 65.01

Diesel Prices in Lucknow

Lucknow is the capital city of Uttar Pradesh. It is the biggest city in the state by population and industrial production. Like other cities, the consumption of diesel in the city is increasing. Have you observed the latest trend in diesel prices in Lucknow? Have they increased or diminished? Let’s consider the last four months of the current fiscal year (2017-2018) to make a comparative study.

In March, diesel rates were steady throughout the month. They were up by 2.47%, 3.26% and 2.41% in September, August and July. The highest price was Rs.59.95 in September. In August, it was Rs.58.36. In July, it was Rs.56.39. On the other hand, in September, the lowest rate was Rs.58.43. In August, it was Rs.56.46. In July, it was Rs.55.03. In October, diesel rates in Lucknow have fallen over Rs.2 per litre because of the reduction in the excise duty by the central government.

Also Know: Diesel Price in Odisha

How are Diesel Prices Revised in Lucknow?

In Lucknow, the daily revision system is currently being practiced by all state-run oil marketing companies such as Indian Oil, Shell Oil, Hindustan Petroleum and Bharat Petroleum, who have left the 15-year old practice of revising fuel prices twice a month. The daily revision is also called dynamic fuel pricing. The new practice is in use since 16 June 2017.

As per the new system, all diesel bunks whether automated or non-automated will revise the rate of diesel at 06:00 a.m. every day. Dynamic fuel pricing will make sure that the advantage of even the lowest change in overseas crude oil rates can be immediately transmitted to end consumers and dealers. Furthermore, the initiative is said to eliminate big jumps in prices.

What is the average Price of Diesel in Lucknow Compared to other Cities?

The average price of diesel in Lucknow as on the latest date was Rs.58.28. In New Delhi, it was Rs.56.96. The difference between the two cities was Rs.1.32. The average price of diesel in Mumbai was Rs.59.70 and in Kolkata, it was Rs.59.62. The difference between these two cities was Rs.0.08

How are Diesel Prices in Lucknow Assessed?

The components of the price structure of diesel in Lucknow can be grouped into three categories, which include 1) the cost of production and supplying diesel to end users, 2) the operating expenses of retail outlets and 3) state and central levies. The cost of production includes distribution, refining, processing and procurement expenses such as cost of crude oil, refinery transfer price, distribution and marketing expenses.

Retail outlets of diesel can be operated and owned by refinery themselves or by independent entities that buy diesel from distributors or refineries. Operating expenses of retail outlets rely on several considerations such as local market conditions, the location of retail outlets and the marketing strategy of retail station owners.

Diesel is taxed by both the central and state governments. Over the last three years, the central excise duty on diesel increased by more than 4 times to Rs.17.33 per litre from Rs.3.56 per litre. The state VAT levied on diesel will differ from one state to another. There is no fixed VAT on diesel in Uttar Pradesh since the state government delinked diesel rate variations to protect its revenue share at a constant rate.

In a nutshell, the retail price of diesel in the city of Lucknow replicates the expenses incurred by each division of supply chain comprising distributors, diesel bunk owners, marketers and refiners. The relative portion of the various elements in the retail pump price of diesel fluctuates with time and also fluctuates across different localities.

What are the Influencers of Diesel Prices in Lucknow?

Diesel prices in Lucknow are impacted by the following factors:

  • Supply and demand of crude oil

The global demand and supply of crude oil influence the cost of crude oil, which is one of the most important elements in the final price of diesel. Due to interruptions in crude oil supply, the last few years witnessed an unparalleled hike in crude oil prices globally.

  • Disparities in demand and supply

Diesel is basically a transportation fuel. Glitches at refineries or insufficient and delayed imports lead to unanticipated interruptions in the supply of diesel. The gap between the demand and supply of the fuel leads to variations in retail selling prices.

  • Seasonal variations

Diesel prices will fall a bit during the summer, increase during the fall and surge during early spring. As the consumption of gasoline increases during the summer, the demand for diesel dips. The lower the demand for diesel, the lower will be the price.

  • Geographical variations

Diesel outlets that are farthest from distribution and refinery terminals have more diesel prices to account for the expenses incurred in shipping the fuel. Local market situations such as traffic patterns, the number of retail diesel bunks or outlets and state fees affect the retail selling of diesel.

  • VAT and the Central Excise Duty

The state VAT on diesel is fixed by state governments whereas the central excise duty is fixed by the central government. Any variations in these two tax components will equally impact the retail selling price of diesel.

  • Exchange Rate

The central bank of India determines the value of the USD against the local currency. The exchange rate is impacted by many factors such as interest rates, inflation rates, import and export patterns and the overall public debt of India and the US. The cost of crude oil will vary based on the exchange rate.

GST and Diesel Prices in Lucknow

The Goods and Services Tax (GST) is a value-added tax imposed on all types of goods and services sold for indigenous consumption. GST is paid by end consumers, but it is paid by merchandisers to the government. In effect, GST is a major source of revenue for the government. GST has no impact on diesel prices in Lucknow since diesel has not been brought under the regime of GST. If GST is imposed on diesel, the current diesel price in Lucknow slashes by 20-30%.

Also Check: Diesel Price in Uttar Pradesh

Also Check Diesel Price in NearBy Cities of Lucknow

Diesel Price In Meerut Diesel Price In Varanasi Diesel Price In Noida
Diesel Price In Ghaziabad Diesel Price In Chandigarh Diesel Price In Agra
Diesel Price In Kanpur Diesel Price In Aligarh Diesel Price In Bareilly

*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 Lucknow Today

  • Petrol Being Sold at Rs.100 per litre in Madhya Pradesh

    In some sections of Madhya Pradesh, petrol is being sold at Rs.100 per litre - which is at least 15% to 20% higher than in other parts of the country. There are over 3,200 petrol pumps in the state of and the number is far too low to cater to the 70 million people that the state holds. This is leading to petrol being sold at Rs.100 to Rs.110 per litre in some rural and tourist regions of the state.

    The central government had announced a Rs.2.50 per litre drop in fuel prices two weeks ago, however, that has failed to have little effect on conditions in the state. And the continuous rises are beginning to burn a hole in the common man’s pocket.

    When asked, a person from a village said that, he buys fuel for Rs.100 per litre from a local seller, because the nearest fuel pump for him is close to 17 km away. The fuel that some people here buy is stored in a drum and is being sold at a higher premium, despite adding a number of additives such as kerosene and the like.

    23 October 2018

  • Petrol and Diesel Prices Hiked After a Day’s Lull

    State-owned Oil Marketing Companies increased petrol and diesel prices on Thursday after a day’s lull. In Delhi, petrol is being sold at Rs.81 per litre, while diesel is available at Rs.73.08 a litre. The petrol price has been hiked by 13 paise a litre, while the diesel price witnessed an increase of 11 paise per litre. The hike in fuel prices was in accordance with the rise in the global crude oil price and the currency exchange rate of the rupee over the US dollar. Fuel rates in the nation’s capital are the lowest among the four major metro cities in the country because of its lower tax or VAT. In Mumbai, fuel prices were revised as well with petrol being sold at Rs.88.39 per litre, while diesel costs Rs.77.58. Prices in Mumbai are the highest due to its higher local tax or VAT. Currently, the Centre levies excise duty of Rs.19.48 per litre on petrol, while diesel attracts Rs.15.33. Excluding the taxes applicable on sale of fuel in the country, the refinery gate price of petrol stands at Rs.40.49 per litre, while that of diesel is Rs.44.32 a litre. Petrol and diesel rates are revised every day under the ‘Dynamic Fuel Pricing’ mechanism. Oil companies include the preceding day’s crude oil price and the exchange rate of the rupee over the US dollar to arrive at the final selling price of both petrol and diesel.

    17 September 2018

  • Every Litre of Diesel Costs Rs.69.93 in the National Capital

    Diesel prices in the four metro cities of the country hit a new high on Thursday with Oil Marketing Companies (OMCs) continuing to hike the prices. The hike on Thursday saw every litre of diesel cost Rs.69.93 in the national capital. Consumers residing in the other metro cities like Mumbai, Kolkata, and Chennai were required to shell out Rs.74.24, Rs.72.78 and Rs.73.88 respectively. Diesel prices hit a new high this week after it crossed the mark of Rs.69.31 per litre that was touched on May 29. The increase in the prices of petrol has largely been accounted to the rise in global crude oil prices and the high excise duty imposed on transportation fuel by the government. It needs to be mentioned that the prices of diesel have gone up by almost a rupee within a fortnight given the continuous hike in the prices after rupee dipped to its lowest value against the US dollar on August 16. On Thursday, global oil prices inched up again after it remained stable on Wednesday.

    31 August 2018

  • Diesel Rates in Metro and Other Cities Today

    Today, diesel rate is down 10 paise to Rs.67.38 a litre while diesel price in Mumbai stands at Rs.71.52 a litre. The revised diesel prices today stand at Rs.69.93 a litre and Rs.71.12 a litre respectively in Kolkata and Chennai. Similarly, today, diesel has been priced at Rs.68.28 a litre in Gurgaon and Rs.67.57 a litre in Noida. In Ghaziabad, diesel rate is Rs.67.44 a litre while in Faridabad, it is Rs.68.50 a litre.

    26 June 2018

  • Diesel Prices Kept Unchanged for the Third Consecutive Day

    Diesel prices in Delhi were kept unchanged for the third straight day. The diesel price was sold at Rs.67.78 per litre in the National Capital on Monday. In Kolkata, the diesel will cost Rs.70.33 per litre, Rs.71.54 in Chennai and Rs.72.13 a litre in Mumbai. After touching an all-time high of Rs.69.31 a litre on 29 May in Delhi, diesel prices have not been increased for a fortnight now. The decline in the diesel price is attributed to the fall in the global crude oil rates as Saudi Arabia and Russia have announced to increase crude oil production. Diesel prices have dropped by nearly Rs.1.5 a litre since 30 May compared to the rise of nearly Rs.3 per litre during the period when diesel prices reached an all-time high.

    18 June 2018

  • Diesel Prices fall to Rs. 66.50

    Though the crude oil prices hit a two week high, fuel prices in the country continued to fall in the country for the 12th day. Over the course of the 12 days, diesel prices have been cut by Rs. 1.78 per litre. In Mumbai, the diesel prices were recorded at Rs. 66.50 as of February 19. The diesel prices in the other metros of the country were recorded as follows - in Delhi, the national capital the prices were Rs. 62.44 per litre while in Kolkata and Chennai the prices were Rs. 65.10 and Rs. 65.83 respectively.

    19 February 2018

Diesel Price In Metro Cities
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