Diesel Price in Mangalore
The diesel price in Mangalore encompasses the state levies charged by the local government of Karnataka and the excise duty charged by the Central Government of India and the cost of unrefined oil. As on 3 February 2018, the tax levied on diesel by the Government of Karnataka was 19% and the excise duty levied on diesel by the Central Government was Rs.15.33 per litre.
After the daily price revision on 5 February 2018, diesel traded at Rs.64.84 per litre at Indian Oil Company and almost the same price was observed at Hindustan Petroleum. In fact, you can expect a minute flux in fuel rates in Mangalore from one diesel station to another. All diesel consumers from the city of Mangalore are required to make a note of daily varying fuel prices before they buy. Even slight price variations shall make a noticeable difference to billing amounts especially for heavy diesel users.
|Also Know: Diesel Price in Bangalore|
The Union Budget 2018 vs the Diesel Rate in Mangalore
For the fiscal year 2018-2019, the Union Budget was presented on 1 February 2018 by Arun Jaitley at the parliament. This budget was believed to have been very decisive with respect to diesel prices. As demanded, Finance Minister unveiled the decision to wane the central levy on diesel by Rs.2 per litre. The budget further proposed to withdraw the additional custom duty of Rs.6 a litre, but additionally levied a road cess of Rs.8 per litre. Eventually, diesel prices in Mangalore were left unchanged.
Current Fuel Pricing methodology in Mangalore
Prior to June 16 last year, all public-sector oil marketing corporations used to revise the diesel price once a 15 days, i.e., on 1 and 16 of every month. This fortnightly-based fuel pricing system is no longer in practice. There has been a paradigm shift in the way fuel pricing is done. Today’s diesel price in Mangalore is determined under the dynamic fuel pricing mechanism.
Quarterly Diesel Price Trend in Mangalore Between January and March 2019
|Opening date price||Rs.62.54/litre||Rs.67.17/litre||Rs.68.66/litre|
|Closing date price||Rs.67.36/litre||Rs.68.52/litre||Rs.67.82/litre|
|Highest price||Rs.67.56/litre recorded on 25th, 26th, 27th and 28th||Rs.68.52/litre recorded on 28th||Rs.69.20/litre recorded on 5th, 6th and 7th|
|Lowest Price||Rs.62.20/litre recorded on 4th, 5th and 6th||Rs.66.97/litre recorded on 5th and 6th||Rs.67.82/litre recorded on 29th, 30th and 31st|
Quarterly Diesel Price Trend in Mangalore between October and December 2018
|Opening date price||Rs.74.94 a litre||Rs.73.59 a litre||Rs.67.14 a litre|
|Closing date price||Rs.73.59 a litre||Rs.67.52 a litre||Rs.62.54 a litre|
|Highest price||Rs.75.94 a litre booked on the 1st||Rs.73.59 a litre booked on the 1st||Rs.67.14 a litre booked on the 1st|
|Lowest price||Rs.73.66 a litre booked on the 29th of October||Rs.67.52 a litre booked on the 30th||Rs.62.54 a litre booked on the 31st|
Quarterly Diesel Price Trend in Mangalore between October and December
- Fuel prices will change regularly in sync with the changes in the rupee-dollar exchange rate and the rate of petroleum per barrel.
- Sometimes, the same price is retained if there are no changes in the factors influencing fuel rates (exchange rate and crude oil cost).
- When we observe diesel price movements in October in Mangalore, we can observe fuel prices moving downwards.
- As of 2 October, fuel price stood at Rs.75.09 a litre and the same price was offered on the following day.
- As the government reduced the excise duty, which is also included in the retail selling price, by Rs.2.5 per litre on 4 October, oil companies also reduced diesel rate in Mangalore by Rs.2.5 per litre the following day.
- On the 23rd and 24th, the fuel was sold at a rate of Rs.74.67 a litre and Rs.74.55 a litre on 26th, 27th and 28th of October respectively.
- For the first fifteen days of November, the average diesel price in Mangalore was reported to be Rs.72.83 a litre, and for the last fifteen days of the month; the average fuel price was just above Rs.70 per litre.
- While diesel prices were down by 1.80% in October, fuel rates fell by over Rs.8 per litre in November at HPCL, BPCL and IOCL fuel stations in Mangalore.
- In tandem with falling petroleum rates, oil enterprises continued to decrease the selling price in December.
- Therefore, the highest fuel price was noted at Rs.67.14 a litre at the beginning of December and the lowest price at Rs.62.54 a litre at the end of the month.
- In December, diesel was bought at an average price of Rs.64.52 a litre, which is lower compared to the previous months.
- During this quarter, crude oil rate per barrel, decreased over $20 per barrel. Thus, diesel rate in Mangalore slid by over Rs.12 per litre during the same tenure.
- Prior to the Central Government announcing an excise duty cut on 4 October, the State Government of Karnataka had reduced its sales tax to make diesel and petrol cheaper for consumers.
Note: The dollar-rupee exchange rate had no influence on fuel pricing this quarter ending on 31 December 2018.
Quarterly Diesel Price Trend in Mangalore between July and September 2018
|Opening date price||Rs.67.91 a litre (As of 7 July 2018)||Rs.69.51 a litre||Rs.71.88 a litre|
|Closing date price||Rs.69.39 a litre||Rs.71.88 a litre||Rs.74.27 a litre|
|Highest price||Rs.70.03 a litre||Rs.71.88 a litre||Rs.74.27 a litre|
|Lowest price||Rs.67.91 a litre||Rs.69.51 a litre||Rs.71.88 a litre|
Diesel Price Trend in Mangalore in July
- Dynamic fuel pricing has been in use since 16 June 2017. It has been deployed in India to bring transparency in fuel pricing like other advanced countries such as Japan, Australia, the USA, etc.
- The revision of diesel prices will happen completely on the basis of the USD/INR rate (exchange rate) and the market price of oil per barrel.
- Diesel price in Mangalore, a major town in Karnataka, was minutely different from other cities in July. It is due to the transportation overhead.
- In July, in Mangalore, diesel retailed between Rs.67.91 per litre and Rs.70.03 a litre. These were the lowest and highest fuel prices for the month.
- The growth rate in diesel prices (2.17%) in Mangalore has been higher than in petrol prices despite the changes in the overseas influencers.
- Except for a few initial days, the price of diesel was increased and decreased in line with the regular influencers.
- Fuel pricing is also impacted by the domestic aspects like the central tax and the sales tax. But, there were no changes in the tax forms.
Diesel Rate Trend in Mangalore in August
- It has been important to notice that the movements in diesel rates in Mangalore were completely different.
- They were increased by a few paise per litre in the first three days of the month and reached the price mark of Rs.70.1 a litre by the first week’s end.
- Oil selling enterprises such as IOCL, HPCL and BPCL did not change the price of diesel until the end of the second week.
- Fuel prices in Mangalore have seen a big jump of Rs.29 paise per litre. They were at Rs.70.47 a litre on the 17th, 18th and 19th of August.
- At Rs.70.81 a litre, the fuel was traded on the 24th, 25th and 26th of this month. Fuel rates were not changed because of the pricing strategies of the oil companies.
- The entities might or might not reduce the price of diesel per litre even though there exists a steady drop in crude oil rates.
Diesel Price Trend in Mangalore in September
- Needless to mention again, the revision of fuel rates happened the way it was done the previous months. Trends were decided accordingly.
- At the month’s beginning, the revised price stood at Rs.71.88 per litre. The same price was provided on the day 2.
- The average price for the week stood at Rs.72.71 per litre whereas the average price for the next week stood at Rs.74.42 per litre.
- The average fuel price fell in the week 3 and week 4 as the State Government of Karnataka declined the sales tax in response to the nationwide strike.
- Because of this fact, the rate of growth in diesel prices in Mangalore was just 3.32%. In other cities, it was in excess of 6%.
- Andhra Pradesh, West Bengal and even Rajasthan have declined the sales tax to make petrol rates and diesel rates cheaper to some degree.
Quarterly Diesel Price Trend in Mangalore between April and June 2018
|Diesel price||Rs.66.50 a litre as on the 24th||Rs.69.88 a litre as on the 31st||Rs.67.79 a litre as on the 26th|
|Highest price||Rs.66.50 booked on the 24th||Rs.69.88 a litre booked on the 31st||Rs.69.83 a litre booked on the 1st|
|Lowest price||Rs.65.22 as on the 2nd||Rs.66.71 a litre booked on the 14th||Rs.67.79 a litre recorded on the 26th|
Diesel Price Trend in Mangalore in April 2018
- Diesel prices have been on the rise since the introduction of dynamic fuel pricing, which is a fuel pricing methodology used to review the prices of both petrol and diesel regularly.
- Under the system of dynamic fuel pricing, the exchange rate and the price of crude oil per barrel will determine the trend, which can be an upward trend or a downward trend.
- Considering the exchange rate and the crude oil price per barrel, diesel was valued at Rs.65.22 a litre in Mangalore as on 02 April 2018. The fuel rate remained unchanged at Rs.65.37 a litre on the 3rd and 4th.
- The fuel price was revised to Rs.65.48 a litre on the 9th, Rs.65.51 a litre on the 10th, Rs.65.48 a litre on the 12th, Rs.65.51 a litre on the 13th and Rs.65.73 a litre on the 16th in the city.
- For the month, the highest diesel rate stood at Rs.66.50. The diesel price, which was offered on 01 April 2018, was also the lowest price for the month.
- Diesel prices in Mangalore, a notable city in Karnataka, produced an upward trend caused by the crude oil cost, which was up marginally this month.
Diesel Price Trend in Mangalore in May 2018
- Triggered by the assembly election in Karnataka in May 2018, diesel rates in the city of Mangalore were consistent between 01 May 2018 and 11 May 2018.
- Indian Oil, Hindustan Petroleum and Bharat Petroleum, the three state-run fuel companies, continued to increase the fuel rate in sync with the global parameters after the second week.
- As on 14 May 2018, diesel price in Mangalore was Rs.66.71 a litre. It further increased to Rs.66.94 on the 15th, Rs.67.38 on the 17th, Rs.68.69 on the 22nd, Rs.69.80 on the 28th and Rs.69.88 on the 31st.
- In May 2018, the average crude oil price per barrel increased by $6 to $75.31 and as a result, diesel rates in the city increased rapidly. The same trend was observed throughout the state of Karnataka this month.
- The highest fuel rate was booked at Rs.69.88 in the city of Mangalore in May 2018. The opening date price was also the lowest fuel price for the month.
Diesel Price Trend in Mangalore in June 2018
- The crude oil market was reported to be sluggish and therefore, crude oil prices kept falling throughout the month of June 2018.
- As on 08 June 2018, a barrel of crude oil was valued at $74.89. It dropped to $74.49 on 15 June 2018, $72.84 on 25 June 2018 and $76.42 on 29 June 2018. The average crude oil per barrel was booked at $73.85.
- In sync with the crude oil rates, the revision of diesel rates in Mangalore was done throughout the month of June 2018.
- By the end of the first week, the fuel rate per litre was Rs.69.35. It decreased to Rs.68.17 on the 21st and Rs.67.79 on the 26th.
- As the cost of unrefined oil fell, the fuel marketing companies reported a downward trend for the month.
- For June 2018, the highest fuel price stood at Rs.69.83. It was also the highest fuel rate for the whole quarter.
- Between April 2018 and June 2018, both forms of taxes remained unaffected. Other domestic aspects were also steady during the quarter.
Dynamic Fuel Pricing
This new fuel revision mechanism is also referred to as daily revision system. The mechanism considers the cost price of unrefined oil and the exchange ratio of USD/INR to reread the diesel rate in Mangalore every day. The revision is either mechanically or manually done at 6:00 a.m. by oil marketing entities, including Shell Oil, Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOL) in the city. Therefore, we observe the price of diesel varying on a daily basis.
How do I check the latest Diesel Price in Mangalore?
It is very simple! Fuel consumers have three options to do so. The first option is to get the customised mobile applications downloaded on your mobile phones. The second option is to make use of SMS services and the third option is to make use of customer care services offered by each oil marketing company. Most fuel consumers prefer checking the current diesel price in Mangalore through online means.
Why Dynamic Fuel Pricing?
- Dynamic fuel pricing is beneficial from the perspective of both, fuel users and marketing entities.
- It does not have a waiting period of 15 days like before. The downs and ups in the rate of crude oil and the exchange rate are quickly transmitted to consumers.
- It helps OMCs to reduce operational expenses and time.
- OMCs can maintain an optimal level of stocks.
- Cash inflows and outflows remain unchanged for OMCs.
- OMCs can easily strike a balance between liquid assets and current liabilities.
Computation of the Retail Selling Price of Diesel in Mangalore as on 3 February 2018
The following table explains the computation of the retails Selling Price of Diesel in Mangalore:
|Cost Elements||Diesel Rate per litre|
|Crude oil rates including freight||$65.5 per litre or Rs.4,200|
|1 Barrel||159 litres = 1 barrel|
|Crude oil rate a litre||Approximately Rs.26.41 per litre|
|Computation of OMC overheads|
|Overall operational overheads||Approximately Rs.7.5 per litre|
|Profit margin of OMCs||Approximately Rs.2.87 per litre|
|Cost of Fuel after refining||Approximately Rs.36.79 per litre|
|Excise duty plus road cess levied on 1 February 2018||Approximately Rs.15.33 per litre|
|Dealer price||Approximately Rs.52.12 per litre|
|Commission imposed by diesel dealers||Approximately Rs.2.51 per litre|
|Diesel cost before VAT||Approximately Rs.54.63 per litre|
|VAT on diesel in Karnataka||19%|
|RSP of diesel||Rs.64.07 per litre|
Why has the Diesel Price in Mangalore increased over the last one year?
- The cost price of Brent Crude oil has increased by almost 10%.
- The commission charged by dealers has increases by Rs.1 per litre.
- The profit margin of OMCs has increased marginally.
Which factors affect the Diesel Price in Mangalore?
- INR/USD conversion rate: It is a most commonly traded exchange rate in the Forex market. Since the cost of crude oil is traded globally, the exchange rate directly affects the buying price of unrefined oil in India. Eventually, the RSP gets affected.
- Taxes: Diesel is taxed domestically. If the government reduces the tax, the diesel price also reduces and vice versa. We can take the example of the central tax, which was lowered by Rs.2 per litre in the month of October 2017.
- Crude oil rates: We have seen crude oil rates growing consistently in the last 12 months. It is a primary cost component that directly affects the RSP of diesel. In overseas markets, if crude oil rates increase, the RSP of the fuel increases and vice versa.
Diesel Price in Mangalore Today vs GST
Is diesel taxed at the GST rates? No, it isn’t! The Goods and Services Tax (GST), which has been a new tax system, imposes tax at 5%, 12%, 18% and 28% on all types of commodities and services. But, diesel is not taxed at the GST rates. So, the present tax system leaves the diesel rate unaffected. The opposition parties are continually building pressure on the GST Council to tax diesel at the GST rates.
Also Check Diesel Price in NearBy Cities of Mangalore
|Diesel Price in Chennai||Diesel Price in Bangalore|
|Diesel Price in Hyderabad||Diesel Price in Pune|
|Diesel Price in Mumbai||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 Mangalore
Petrol Prices Hiked by 7 paise per litre across the Metropolitan Cities
State-owned Oil Marketing Companies (OMCs) on Thursday hiked the rates of petrol across the major cities of the country. The increase in the rates came after two days of the prices being kept constant. Following Thursday’s hike, every litre of petrol was retailed for Rs.70.12 in the national capital. In the other three metropolitan cities of the country OMCs charged Rs.75.82, Rs.72.38, and Rs.72.84 respectively for one litre of petrol. In non-metro cities of the country like Noida and Gurugram, the rates were increased by 6 paise per litre. Consumers residing in these cities were required to shell out Rs.70.03 and Rs.70.61 respectively for a litre.
In the international oil market, crude prices dropped on Thursday. The futures of Brent crude oil were down by 19 cents or 0.3% since the last close to be trading at $66.30 per barrel. It needs to be mentioned here that the prices of Brent crude went up by more than 2% on Wednesday to touch its highest levels in about a month. The rates of fuel in the country are revised daily after state-run Oil Marketing Companies (OMCs) adopted the dynamic pricing scheme in the month of June 2017.
28 June 2019
Rise in Fuel and Food Prices Influences Increase in April Retail Inflation
Higher fuel and food prices increased the country’s April retail inflation to 2.92% compared to 2.86% recorded in March, as per official data reflected on Monday. However, year-on-year, the Consumer Price Index (CPI) in April was less than the corresponding period of previous year when retail inflation was recorded at 4.58%. The Consumer Food Price Index (CPFI) inflated to 1.10% in April from an expansion of 0.30% recorded in March. Product-wise, vegetable prices, meat, eggs, and fish influenced the rise on retail inflation on a year-on-year basis. In contrast, the drop in prices of pulses and sugar kept the overall food inflation stable. Accordingly, vegetable prices increased by 2.87%, cereals and its products by 1.17%, milk-based products by 0.42%, and meat and fish by 7.55%. In contrast, prices of pulses and its products was down by 0.89%, and sugar and confectionery by 4.05%. The sub-category of food and beverages recorded a 1.38% incline in last month compared to April 2018. Among the non-food category, the light and fuel segment’s inflation inclined by 2.56% in April. This is fourth straight incline in retail inflation.
15 May 2019
Diesel Prices Drop to Rs.67.38 per litre in Mumbai
Oil Marketing Companies on Monday cut the rates of diesel for the third consecutive day. In the financial capital of the country i.e., Mumbai the rates charged for a litre of diesel on Monday was Rs.67.38. While in the other three metro cities of the country i.e., Delhi, Kolkata, and Chennai, the rates charged for a litre of diesel were Rs.64.38, Rs.66.14, and Rs.67.97 respectively. The recent cut in the prices of diesel comes in line with the decline of crude oil prices. It needs to be mentioned here that the domestic fuel prices are revised on a daily basis as per the dynamic pricing mechanism. This is done after taking into account international fuel prices on a 15-day average, the value of rupee against the US dollar, central excise duty, dealers commission and value-added tax (VAT) to the base price.
It is noteworthy to mention here that as per the Petroleum Planning and Analysis Cell (PPAC) of the Petroleum Ministry, India’s fuel demand fell by 1.8 per cent in November. The data released by the cell shows that the consumption of fuel in the country totalled 17.27 million tonnes.
19 December 2018
Petrol and Diesel Prices Continue to Incline
Petrol and diesel prices continued to rise, not reflecting any signs of decline as State-run oil companies hiked fuel prices again on Tuesday. Petrol price was increased by 10 paise per litre to stand at Rs.82.16 and diesel prices rose by 9 paise to stand at Rs.73.87 per litre in Delhi. In Maharashtra, petrol prices breached Rs.90 mark in several of its districts. In Mumbai, petrol costs Rs.89.71 a litre, up by 23 paise, while diesel price is being sold at Rs.77.39 a litre. Petrol prices have been increased by Rs.3.58 per litre in the last 17 days in Mumbai, while diesel rates have risen by Rs.3.57 per litre. Fuel prices have been touching record highs with the rise in the global crude oil price coupled with the fall in the Indian currency over the US dollar. Crude oil global benchmark Brent Crude is hovering around $78 per barrel and the rupee has touched its lowest of Rs.72.91 over the US dollar. With oil companies revising petrol and diesel prices on a daily basis, the rise in crude oil price and the decline in rupee has resulted in the incline in fuel prices across the country.
19 September 2018
Diesel Rates were cut on Monday by 14 paise per litre
Diesel rates were cut on Monday by 14 paise per litre in Delhi. This is the sixth cut in a row. Indian Oil Corporation Limited, a well-established fuel company in India, over the past 6 days, cut the diesel rate by 34 paise a litre in the national capital. Similar price cuts were observed in other states as well. On Monday, the price of non-branded diesel was reduced to Rs.68.97 a litre, Rs.71.52 a litre, Rs.73.43 a litre and Rs.72.81 a litre in Delhi, Kolkata, Mumbai and Chennai respectively. The fuel company soared diesel rates by Rs.3.38 per litre in Delhi between 14 May and 29 May.
5 June 2018
Diesel Prices Hiked by 8-9 paise
With International crude prices on the rise, diesel prices in the country were hiked in the range of 8 to 9 paise on Sunday. Following the rise in the prices, diesel prices reached an all time high in the country. The cost for every litre of diesel in Delhi was Rs.65.09 as it saw a hike of 8 paise compared to the previous day. In other metros, diesel prices were Rs.67.78 in Kolkata, Rs.69.31 in Mumbai and Rs.68.67 in Chennai. In other places of the country, diesel prices were as follows: Rs.68.49 in Bhopal, Rs.63.19 in Chandigarh, Rs.70.72 in Hyderabad, Rs.65.24 in Lucknow, Rs.68.41 in Srinagar etc. It needs to be mentioned that as per reports international oil prices on Friday made the largest weekly gain since July 2017.
15 April 2018
The Diesel Prices continues to drop in the domestic market while the cost price of diesel goes up
The diesel price in the domestic market was down by 19 paise per litre on Thursday even though overseas crude oil rates increased. Oil marketing companies priced diesel at Rs.63.32 per litre in New Delhi, Rs.65.98 per litre in Kolkata, Rs.67.43 per litre in Mumbai and Rs.66.77 per litre in Chennai respectively on Thursday. On 14 February 2018, diesel was sold at Rs.66.17 per litre in Kolkata, Rs.66.96 per litre in Chennai, Rs.63.50 per litre in the national capital. Diesel retailed at a 4-month high price of Rs.66.89 per litre in Kolkata, Rs.67.73 per litre in Chennai, Rs.64.22 per litre in Delhi on 7 February 2018. The price of diesel during the second week of the month produced a fall of 90 paise per litre.
15 February 2018
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