Diesel Price In Mumbai Today

  • Today's Diesel Price ( 23 Jan 2020 )
    ₹ 71.21
    Current Diesel Price Per Liter
    Compare Diesel Price in Mumbai (Today & Yesterday)
    Today
    (23 Jan 2020)
    Yesterday
    (22 Jan 2020)
    Rate Change
    Diesel ( / litre) ₹ 71.21 ₹ 71.41 ₹ -0.2 ↓
    Diesel Price in Mumbai - Last 10 Days Data
    Date Diesel ( / litre)
    23 Jan 2020 ₹ 71.21
    22 Jan 2020 ₹ 71.41
    21 Jan 2020 ₹ 71.41
    20 Jan 2020 ₹ 71.63
    19 Jan 2020 ₹ 71.83
    18 Jan 2020 ₹ 72
    17 Jan 2020 ₹ 72.17
    16 Jan 2020 ₹ 72.33
    15 Jan 2020 ₹ 72.48
    14 Jan 2020 ₹ 72.48

    Diesel Rate Trend

    • 7 Days
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    • 3 Months
    • 6 Months

    Diesel Rate in Mumbai

    Trend of Diesel Price in Mumbai for December 2019 (rates per litre):

    Parameters Rates/litre
    1st December Rs.68.94
    31st December Rs.71.29
    Highest Rate in December Rs.71.29
    Lowest Rate in December Rs.68.94
    Overall Performance Incline
    Percentage Change 3.41%

    Monthly Diesel Price Trend in Mumbai for December 2019:

    • The price of diesel opened at the rate of Rs.68.94 per litre for the month of December 2019 in Mumbai. There was a significant increase in the same by the end of the month.
    • The increase in the rate of the fuel was mainly due to the increase in the price of crude oil in the international market. With the expectations from the Washington-Beijing trade deals, the price of the oil was affected further. During the year of 2019, there was an overall increase of 24% in the Brent crude price.
    • The month of December 2019 ended with the diesel price in Mumbai standing at Rs.71.29 per litre. This is the highest recorded price for the month. There was an overall incline of 3.41% in the price of the fuel.

    Trend of Diesel Price in Mumbai for November 2019 (rates per litre):

    Parameters Rates/litre
    1st November Rs.68.96
    30th November Rs.68.94
    Highest Rate in November Rs.69.08
    Lowest Rate in November Rs.68.91
    Overall Performance Decline
    Percentage Change -0.02%

    Monthly Diesel Price Trend in Mumbai for November 2019:

    • Diesel price in Mumbai stood at Rs.68.96 per litre on the 1st of November, 11 paise lower than the previous day’s closing price.
    • Diesel prices fluctuated in the second week, with the oil closing at Rs.68.95 per litre.
    • After staying stable for the next few days, prices soared again, recording Rs.69 per litre.
    • However, in the final week, diesel dipped again closing at Rs.68.94 per litre. Overall performance of diesel was -0.02%, trending downwards.

    Trend of Diesel Price in Mumbai for October 2019 (rates per litre):

    Parameters Rates/litre
    1st October Rs.70.81
    31st October Rs.69.07
    Highest Rate in October Rs.70.81
    Lowest Rate in October Rs.69.07
    Overall Performance Decline
    Percentage Change -2.45%

    Monthly Diesel Price Trend in Mumbai for October 2019:

    • Diesel price in Mumbai stood at Rs.70.81 per litre on the 1st of October, its highest recorded price for the month.
    • Diesel prices dropped amidst global economic crisis and closed the second week at Rs.69.72 per litre.
    • Prices slumped further in the third week with the oil closing at Rs.69.41 per litre.
    • Diesel rate in Mumbai closed the month at Rs.69.07 per litre, its lowest recorded price for the month of October. In the international oil market, oil prices took a hit due to an unprecedented rise in US inventories and the looming economic slump. The overall performance of diesel in Mumbai was -2.45%, trending downwards.

    Trend of Diesel Price in Mumbai for September 2019 (rates per litre)

    Parameters Rates/litre
    1st September  Rs.68.28
    30th September Rs.70.62
    Highest Rate in September Rs.70.62
    Lowest Rate in September Rs.68.24
    Overall Performance Incline
    Percentage Change 3.27%

    September - Week 1 (1-7):

    • Diesel prices in Mumbai opened at Rs.68.28 per litre for the month of September. The prices were kept unchanged from the previous day due to soft demand for the fuel.
    • The rates stayed constant for the next three days before slipping by 2 paise on 5 September to Rs.68.26 per litre. Crude oil prices in the international oil market climbed after the United States confirmed of trade talks with China in the coming months.
    • Petrol prices slid further on 6 and 7 September to close the week at Rs.68.24 per litre. The overall performance of diesel in Mumbai for the first week of September was -0.05%.

    September – Week 2 (8-14) :

    • Diesel price in Mumbai opened at Rs.68.24 per litre in Mumbai on the 8th of September—unchanged from the previous day’s closing price. It’s also the lowest recorded price of diesel in Mumbai for the month of September. Meanwhile, in the international oil industry, crude futures dropped after participants reduced positions due to a weak trend in global markets.
    • The Price of diesel remained unchanged for a day before rising again on the 10th of September. The hike in prices was primarily due to a sharp drop in US inventories.
    • Diesel rose sharply in the next few days, closing the week at Rs.68.54 per litre. The overall performance of diesel was 0.21% and going by the current trend, it’s safe to say that diesel’s going to witness a fair hike in the coming days.

    September - Week 3 (15-21) :

    • Diesel price in Mumbai opened at Rs.68.60 per litre on the 15th of September—6 paise higher than the previous day’s closing price.
    • After staying stable for a day, diesel rate in Mumbai rose by 16 paise, recording Rs.68.76 per litre on 17 September. Meanwhile, in the international market prices slid after Saudi Arabia’s energy minister stated the kingdom will restore lost oil production by the end of the month.
    • Price of diesel in Mumbai closed the week at Rs.69.77 per litre, its highest recorded price in the month of September. The substantial increase in petrol prices was primarily due to last week’s drone attack on Saudi Arabia’s Aramco oil refinery. The overall performance of petrol was 2.03%, trending upwards.

    September - Week 4 (22-30) :

    • Diesel rate opened at Rs.69.99 per litre in Mumbai on the 22nd of September—22 paise higher than the previous day’s closing price.
    • Diesel price in Mumbai kept soaring, recording, Rs.70.52 per litre on the 27th of September.
    • Diesel in Mumbai closed the week at Rs.70.62 per litre, its highest recorded price in the month of September. The substantial increase in diesel prices were primarily due to the ongoing tension between Iran and US. The overall performance of diesel was 3.27%, trending upwards.

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

    Parameters Rates/litre
    1st August Rs.69.22
    31st August Rs.68.23
    Highest Rate in August Rs.69.22
    Lowest Rate in August Rs.68.23
    Overall Performance Decline
    Percentage Change -1.43%

    August 2019 – Week 1 (1-7):

    • Diesel price in Mumbai opened at Rs.69.22 per litre on 1 August, its highest recorded price of the week. State-run oil marketing companies decided not to alter the rates of diesel in spite of weak demand of crude in the international market. Meanwhile, in the international crude oil market, crude prices dropped after the US Federal Reserve squashed the chances of possible rate cuts. However, the petrol witnessed a massive drop in its price.
    • Diesel remained unchanged for the next couple of days, before dropping to Rs.69.16 per litre. Meanwhile, in the international market, crude prices fell amid worries over weaker demand after the Trump administration said it would impose tariffs on more Chinese imports.
    • Diesel closed the week at Rs.69.16 per litre, its lowest recorded price till now in the month of August. The overall decline in diesel price in Mumbai recorded in the first week of August is -0.08%. In the international oil market, crude price dropped owing to US-China trade tensions.

    August 2019 – Week 2 (8-14):

    • Diesel in Mumbai opened at Rs.69.05 per litre on the second week of August, recording an 11 paise drop from previous day’s closing price.
    • Diesel slumped further by 14 paise on the next day, standing at Rs.68.91 per litre. The dip was primarily due to the ongoing US-China trade tension, fuelled further by Trump administration’s decision to impose more tariffs on Chinese imports.
    • Diesel price in Mumbai dropped slightly in the next few days before stabilising at Rs.68.57 per litre. The overall performance compared to the opening day was -0.93% (decline). Meanwhile, in the international oil market, crude prices dropped due to possible supply cuts amidst looming global economic crisis.

    August 2019 – Week 3 (15-21):

    • Diesel in Mumbai opened at Rs.68.57 per litre, unchanged from previous day’s closing price.
    • Diesel slumped to Rs.68.30 per litre on 19 August. The drop was primarily due to weak demand of the oil in the local market.
    • Diesel slumped further before stabilising at Rs.68.23 per litre. The overall performance of diesel in Mumbai was -1.43%, trending downwards. Meanwhile, in the international market, crude gained after a drop in US inventories. However, the gains were not that great due to concerns pertaining to global economic slowdown.

    August 2019 – Week 4 (22-31):

    • Diesel price in Mumbai opened at Rs.68.23 per litre on 22nd August, unchanged from previous day’s closing price. After staying stable for the next few days, diesel prices shot up, recording Rs.68.48 per litre on 26th August. In the international oil market, crude gained after slump in US inventories.
    • Diesel rate slumped soon after, closing the month at Rs.68.38 per litre. In the international market, crude suffered due to concerns about the strength of the US economy.
    • The overall performance of diesel in Mumbai was -1.21%, trending downwards.

    Also Check Diesel Price in Metro Cities

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

    Parameters Rates/litre
    1st July Rs.67.39
    28th July Rs.69.41
    Highest Rate in July Rs.69.95 on 7 July
    Lowest Rate in July Rs.67.39 on 1 July
    Overall Performance Incline
    Percentage Change 2.99%

    July 2019 – Week 1 (1-7):

    • Diesel price in Mumbai stood at Rs.67.29 per litre on 1 July. This marked a slight increase in price than the previous day’s closing rate. The hike was majorly due to oil marketing companies’ decision to revise the rates.
    • The prices further increased on the second day by Rs.0.06 per litre, thereby trending at Rs.67.45 per litre on 2 July. Again, the increase in momentum was primarily due to the revised rates as implemented by the oil marketing companies. The prices remained unchanged for the next few days until 6 July.
    • Diesel price in Mumabi witnessed another major hike on 7 July and closed the week at Rs.69.95 per litre. The major surge was primarily due to the hike in excise duty and cess on road and infrastructure—a move announced by the Indian Government during Budget 2019.

    July 2019 – Week 2 (8-14):

    • The diesel price in Mumbai on 8 July stood at Rs.69.85 per litre – the highest price recorded during the week after the Central Government, in its 2019 Budget, increases excise duty on petrol and diesel by Rs.2 per litre to fund its social welfare schemes, and road and infrastructure.
    • Prices continued to decline during the week amid decline in crude oil prices in the international oil market after the OPEC and its allies continued to cut production to keep prices of crude stable despite the tensions in the Middle East and the ongoing trade war between the US and China.
    • By the end of the week, diesel prices in Mumbai fell by 0.53% primarily due to the decline in crude oil prices in the global market due to supply cuts led by the OPEC.

    July 2019 – Week 3 (15-21):

    • Diesel was priced at Rs.69.48 per litre when the week began, this was also the lowest diesel price in Mumbai recorded during the week amid a slight decline in crude oil prices after China announced the slowest quarterly economic growth in 27 years signalling a weak demand from China.
    • Oil Marketing Companies (OMCs) kept diesel priced in unchanged during the entire week despite rising crude oil prices in the market amid escalating tensions in the Middle East and the trade war between the US and China which could impact the global economy.
    • Crude oil prices continued to rise amid tensions in the Middle East after the US shot down an Iranian drone and the slowdown of the Chinese economy prompting a decline in demand from the world’s largest crude oil importer.

    July 2019 – Week 3 (15-21):

    • Diesel price in Mumbai on 22 July stood at Rs.69.48 per litre, the highest price recorded during the week and remained unchanged until 24 July primarily due to lack in demand for crude oil in the international market amid escalating tensions in the Middle East.
    • On 25 July, prices of diesel were reduced by 7 paise per litre to be sold at Rs.69.41 a litre despite an increase in crude oil prices amid declining US inventories and after the US said that it may have shot down another Iranian drone.
    • By the end of the week, diesel prices in Mumbai declined as crude oil prices were down amid possible decline in demand for oil. Additionally, Goldman Sachs had earlier cut its 2019 oil demand projection, thereby lowering the demand for crude oil in the international market.

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

    Parameters Rates /litre
    2nd June Rs.77.16
    30th June Rs.76.04
    Highest Rate in June Rs.77.16
    Lowest Rate in June Rs.75.60
    Overall Performance Decline-to-rise
    Percentage Change -1.45%

    June 2019 – Week 1 (2-8):

    • On 2 June 2019, diesel price in Mumbai stood at Rs.77.16 per litre, down by 15 paise compared to 31 May.
    • The fuel’s price fell consistently in the week, closing at Rs.76.60 per litre on 8 June, down 56 paise, or 0.73% from 2 June.
    • The initial days of the week saw a decrease in crude oil prices globally, but they became stable as the week ended. This boosted the dip in diesel cost across India.

    June 2019 – Week 2 (9-15):

    • Mumbai diesel price in Mumbai were at Rs.76.60 per litre on 9 June and closed 94 paise lower at Rs.75.66 on 15 June.
    • This 1.23% fall happened because of stable crude oil prices amid prospects that the Organisation of Petroleum Exporting Countries (OPEC) will hold back supplies. With economies across the world expected to slow down in the next few months, diesel demand is on a downtrend.

    June 2019 – Week 3 (16-22):

    • diesel price in Mumbai held steady at Rs.75.60 in the third week of June.
    • However, crude oil saw a downtrend in prices, as investors were cautious about the impact that US-China trade friction will have on global economic growth.

    June 2019 – Week 4 (23-30):

    • Starting at Rs.75.60 on 23 June, Mumbai diesel prices rose to Rs.76.04 on 30 June. This was a rise of 44 paise (0.58%).
    • June’s overall price movement for diesel was a decline of 1.45%.
    • Even as the G20 summit was on and the OPEC was meeting with other oil producers, crude oil prices fell at the opening of the week. But by 26 June, they started rising as US stockpile of crude was found to be less than estimated.

    Diesel is an important fuel for the development of an economy. It offers a huge array of efficiency, performance, and security features. The fuel also has a greater energy compactness compared to other fuels. Diesel is used everywhere, right from transportation, construction, and industrial production. Needless to say, Mumbai, the capital city of Maharashtra, is the largest consumer of diesel with a big number of diesel-run vehicles. The industrial production and construction sectors are growing briskly and, as a result, diesel is in high demand in the city.

    A retail or an institutional diesel consumer somebody like you from Mumbai would want to know the mechanism used to fix the price of diesel, the price breakup of diesel, and the forces impacting the price of diesel. What do you think about the Goods and Services Tax (GST)? Whether or not the GST affects diesel rates. Besides, there are many news around diesel this fiscal year. Have you observed? The following sections will discuss each of these aspects in detail:

    Also Check: Diesel Price in Naded

    Trend in Diesel Price in Mumbai

    Diesel rates in Mumbai were moving in an upward direction since 16 June 2017 until 3 October 2017. The current rate is Rs.60.55. It fell by Rs.2.27 since the central government cut the excise duty by Rs.2 on diesel. Let’s analyse prices month by month:

    Rates have grown by 2.96% in September. The highest rate was Rs.62.58 whereas the lowest Rs.60.68. In August, the lowest price was Rs.59.04 whereas the highest Rs.60.96. Prices have increased by 2.57% for the entire month. On the opening day of July, diesel was priced at Rs.58.53 and at Rs.59.08 on the closing day. Rates were up by Rs.0.76 for the complete month.

    Diesel Rates in Mumbai and other Prime Towns

    After cutting the central excise duty, diesel has become cheaper across all metro cities of India. Needless to say, diesel and petrol rates in the capital city of Maharashtra are comparatively more. Prices are expected to be stable over the next month.

    What is the Mechanism for Revising Diesel Price in Mumbai?

    The fortnightly-based revision has now been replaced by the daily revision since 16th June 2017. All diesel outlets in the city will update fuel prices on a day-to-day basis. Diesel is priced based on two important considerations: 1) the performance of crude oil in overseas markets and 2) the performance of the Indian currency against the currency of the United States of America.

    Neither the central government nor the state government has no scope to influence the pricing of diesel under the new system. Fuel consumers shall now pay the rates, which are determined by two factors mentioned in the previous section. The move is beneficial for consumers and dealers as well. In fact, the daily revision is being practiced by two major economies of the world: 1) the United States of America and 2) Australia.

    Also Check: Diesel Price in Maharashtra

    The move not only entrusts transparency in fuel pricing but also fosters the best stock management practices. Since all oil marketing companies are practicing the daily revision, they have framed a few customer-friendly recipes to track the recent updates. For instance, customers can send a text message or dial the customer care number requesting for current rates.

    How are Diesel Prices in Mumbai Calculated?

    The cost of a litre of diesel in Mumbai is assessed by adding the cost price of crude oil (including freight charges), the cost of converting raw oil into diesel (called as the refinery transfer price), the element of tax imposed on diesel by the state and the central, the commission paid to dealers for supplying diesel from refinery centres, and pollution cess. These are various elements of the price structure of the fuel.

    The average price of oil is projected to be $52 for the current fiscal year. Projections are made by the United States (US) Energy Information Administration on a monthly basis. Diesel, as mentioned in the earlier section, is a widely used commodity and taxed by the state and the central. The tax component is subject to fluctuate. Currently, the government of Maharashtra levies 21% VAT on diesel.

    Refinery transfer price (RTP) is the cost incurred by oil marketing companies (OMCs) to convert unrefined oil into diesel. Oil marketing companies add their profit margin on the buying cost of crude oil and the cost of refineries. The commission, which is charged by dealers, is fixed per litre. It may change within the Mumbai city.

    Forces Affecting Diesel Price in Mumbai

    The retail selling price (RSP) of diesel in Mumbai, like any other cities in India, is impacted primarily by the cost price of crude oil, the exchange rate, and the tax component. On the other hand, the purchasing price of unrefined oil is affected by seasonal variations, weather reports, global demands, global political moves, overseas surpluses and supplies, and the currency conversion ratio.

    The Cost of Diesel will increase if:

    • The cost of crude oil increases.
    • The Indian currency deteriorates against the base currency (USD).
    • The central or the state increase the tax component on diesel.

    On the other hand, the Cost of Diesel will decrease if:

    • The cost of crude oil reduces.
    • The Indian currency bounces back against the base currency (USD).
    • The tax component is decreased by the state and the central.

    How does the GST Impact Diesel Price in Mumbai?

    Goods and Services Tax (GST) now replaces all indirect tax forms. All taxpayers are brought under the common taxation platform. GST is the biggest reform in the history of Indian tax system since Independence. The GST regime does not influence all petroleum products and the entire oil and natural gas industry since they have kept outside the purview of GST. The execution of GST on petroleum products makes them cheaper for consumers. The compliance cost incurred by all industry stakeholders will increase by 200%.

    Petrol Cost vs. Diesel Costs in Mumbai

    As on 10 October 2017 (the current rate of diesel), diesel was priced at Rs.60.55 a litre whereas petrol at Rs.77.58. The net difference as on the latest date was Rs.17.03 in the city.

    Also Check Diesel Price in NearBy Cities of Mumbai

    *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 Mumbai Today

    • Prices of diesel decreased by up to 15 paise on 16 January 2020

      Following the daily revision of fuel prices, oil marketing companies that are operated by the state decreased the prices of diesel by up to 15 paise across the four metros on 16 January 2020.

      The prices of diesel have been increased regularly over the last two months. According to the information available on the official website of Indian Oil Corporation, the price of diesel in Delhi was decreased by 14 paise and touched Rs.68.92 for a litre. The prices of diesel in Delhi are the cheapest when compared to most state capitals and all metros due to lower taxes being levied. In Delhi, the price of diesel has been increased by 96 paise so far this year. The prices of diesel in Mumbai and Chennai have been reduced by 15 paise and touched Rs.72.27 and Rs.72.83 for a litre, respectively. The price of diesel in Kolkata was reduced by 14 paise and touched Rs.71.29 for a litre. The price of diesel in Gurugram was reduced by 12 paise and touched Rs.67.77 for a litre. In Noida, the price of petrol was reduced by 15 paise and touched Rs.69.19 for a litre. On 15 January 2020, no changes were made to the prices of diesel. Since over 80% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the international market play a vital role in affecting the prices of diesel.

      16 January 2020

    • Diesel prices increased by 17 – 18 paise per litre

      State-run Oil Marketing Companies (OMCs) on Saturday increased the prices of diesel across the metropolitan cities of the country by 17 – 18 paise per litre. As per the data available on the IOCL website, every litre of diesel was retailed for Rs.67.41 in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai consumers were required to shell out Rs.70.73, Rs.69.83, and Rs.71.27 respectively. The cost of diesel was the cheapest in Delhi among all metropolitan cities due to low taxes. It must be noted here that diesel prices in the national capital have seen a hike of Rs.1.22 since 19 December.

      In India, OMCs revise the prices of fuel 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. This is done in order to pass on the slightest benefit to the consumers and retailers.

      28 December 2019

    • Prices of diesel remain the same for the ninth consecutive day

      Oil marketing companies that are operated by the state retained the prices of diesel for the ninth day in a row across the major cities in India on 18 December 2019.

      The price of diesel in Delhi remained the same as 17 December 2019 and is at Rs.66.04 for a litre. Due to the low taxes in Delhi, the price of diesel is the cheapest when compared to other metros and state capitals. As per India’s daily pricing mechanism, the prices of diesel vary based on the rupee to the dollar exchange rate and the crude oil prices in the international market. Over 80% of the country’s crude requirements are imported. The value of the rupee against the dollar reduced by 2 paise on 17 December 2019 and touched Rs.70.98 as there were no major triggers in the domestic market. The prices of diesel in Noida, Gurugram, Chennai, Kolkata, and Mumbai remained the same as well when compared to 17 December 2019. The updated prices of diesel in Noida, Gurugram, Chennai, Kolkata, and Mumbai are at Rs.66.35, Rs.65.35, Rs.69.81, Rs.68.45, and Rs.69.27 for a litre, respectively. The pressure reduced on oil markets as well after phase one of the trade deal between China and the US was signed. Brent crude prices in the international market are expected to move back to around $60 for a barrel by the middle of 2020.

      18 December 2019

    • Diesel prices slashed for the second consecutive day

      State-owned Oil Marketing Companies (OMCs) on Sunday cut the rates of diesel across the country for the second consecutive day. Diesel prices were cut by 6-7 paise per litre across the four metropolitan cities while in Noida and Gurugram, the prices were cut by 6 and 5 paise respectively. Following the daily revision in the prices, a litre of diesel cost Rs.65.73 in the national capital. In Mumbai, the commercial capital consumers were required to shell out Rs.68.94 for a litre. In the other two metropolitan cities i.e., Kolkata and Chennai diesel were retailed for Rs.68.14 and Rs.69.47 respectively. OMCs charged Rs.66.04 and Rs.65.08 respectively for a litre of diesel in Noida and Gurugram. The rates charged for diesel was the cheapest in Delhi among all metropolitan cities and state capitals due to lower taxes.

      It must be noted here that the prices of fuel are revised daily in the country as per the dynamic pricing scheme which was adopted in June 2017. 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.

      On Friday, fuel prices declined in the international oil market due to worries over future demand as uncertainty continued to cover a likely trade deal between the United States and China. The Indian rupee also settled lower against the US dollar amidst easing global crude oil prices and decline of the US currency in comparison to other currencies abroad.

      24 November 2019

    • No changes in the prices of diesel on 10 November 2019

      Oil marketing companies that are run by the state kept diesel prices the same across various major cities on 10 November 2019. The prices of diesel were the same in Mumbai, Kolkata, Gurugram, Delhi, Chennai, and Noida.

      The prices of diesel in India are revised every day at 6 a.m. In Delhi, the price of diesel was the same as 9 November 2019 at Rs.65.91 for a litre. However, the price of diesel in Delhi is the cheapest when compared to other state capitals and metros due to the low taxes. The prices of fuel are available on the official website of Indian Oil Corporation. The price of diesel in Mumbai remained the same at Rs.69.13 for a litre. The price of diesel was at Rs.69.67 for a litre in Chennai. In Kolkata, the price of diesel did not change and was at Rs.68.32 for a litre. In Noida and Gurugram, diesel prices did not change and were selling at Rs.66.22 and Rs.65.24 for a litre, respectively. The prices of diesel are inclusive of dealer commission, excise duty, and VAT. According to the daily pricing mechanism of India, the prices of diesel are dependent of the rupee to dollar exchange rate and global crude prices.

      11 November 2019

    • Diesel prices slashed by 5-7 paise per litre in the metropolitan cities

      The rates of diesel were slashed across the major cities of the country on Saturday. State-run Oil Marketing Companies (OMCs) cut the rates in the metropolitan cities by 5-7 paise per litre. Following the revision in the prices, a litre of diesel cost Rs.65.96 in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai consumers were required to shell out Rs.69.12, Rs.68.31, and Rs.69.65 respectively. In Noida and Gurugram, OMCs charged Rs.66.21 and Rs.65.23 for a litre on Saturday. It needs to be mentioned here that the prices of diesel are the cheapest in Delhi among all metropolitan cities and state capitals. This is because the tax imposed on the fuel is lower than what is charged in other cities.

      In the international oil market, Brent crude prices ended Friday 35 cents higher than the previous day’s rates. The hike in the prices meant that every barrel of the fuel was traded for $62.02. It must be noted here that the prices witnessed a jump of more than 4% over the week. It was the best in a week since September 20.

      It must be noted here that the rates of fuel in the country are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is because the OMCs adopted the dynamic pricing scheme in June 2017 as well as the fact that India imports 80% of the total crude requirements.

      26 October 2019

    • Cut in diesel prices across metros on October 5

      On 5 October 2019, state-run oil companies reduced diesel prices. Fuel prices have seen a cut for the third day in a row. Diesel prices were at Rs.70.39 and Rs.67.15 for a litre in Mumbai and Delhi, respectively.

      Diesel and petrol prices are reviewed on a daily basis by state-run oil companies. Any changes in prices will be effective from 6 a.m. at petrol bunks. The prices of diesel in Delhi, Kolkata, Mumbai, and Chennai are Rs.67.15, Rs.69.51, Rs.70.39, and Rs.70.94 for a litre, respectively. Some of the main factors that affect fuel prices are international crude oil prices and the rupee-dollar exchange rate. Interest rates were cut by 25bps by the Reserve Bank of India (RBI). Due to the cut in interest rates, the rupee closed at Rs.70.88 against the dollar on 4 October 2019. Globally, oil prices rose by 1% on October 4 due to the increase in US jobs. Jobs in the US increased because financial market concerns eased. However, crude oil prices decreased over the last two weeks. Last week, crude oil prices decreased by 5%. Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, said that the output of oil has been restored after the recent attacks. He further added that 11.3 million barrels of oil are produced every day.

      9 October 2019

    • Diesel prices remain constant across the major cities

      State-owned Oil Marketing Companies (OMCs) on Monday kept the rates of diesel unchanged across the major cities of the country. Following the daily revision in the prices, a litre of diesel was retailed for Rs.65.43 in New Delhi i.e., the national capital. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai, consumers were required to shell out Rs.68.62, Rs.67.84, and Rs.69.15 respectively. Citizens residing in cities like Noida and Gurugram needed to pay Rs.65.74 and Rs.64.83 for a litre on Monday. It needs to be mentioned here that the rates charged for a litre of diesel is the cheapest in the national capital among all metropolitan cities and state capitals because the tax imposed on fuel is the lower than what it is in other cities.

      Globally, the rates of crude oil shot up on Monday with the futures of Brent crude oil jumping by 13%. The increase in the rates came amid concerns over supply disruptions after an attack on Saudi Arabia’s oil facilities on Saturday. Every barrel of Brent crude oil was traded for $68.06 on Monday.

      It needs to be mentioned here that the prices of diesel are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar.

      16 September 2019

    • Diesel prices remain static for sixth consecutive day

      Oil Marketing Companies (OMCs) on Wednesday kept the rates of diesel constant for the sixth consecutive day across the major cities of the country. In New Delhi, the national capital a litre of petrol was retailed for Rs.65.35. In the financial capital of the country i.e., Mumbai consumers were required to shell out Rs.68.41 for a litre. In the eastern and southern metropolitan cities i.e., Kolkata and Chennai, a litre of diesel was retailed for Rs.67.63 and Rs.68.94 respectively. Consumers residing in non-metropolitan cities like Noida and Gurugram were required to pay Rs.65.53 and Rs.64.65 for a litre. The cost for a litre of diesel is the lowest in New Delhi among all the metropolitan cities and state capitals because the tax charged on the fuel is lower than what is charged in other cities.

      It must be noted here that the rates charged for a litre of diesel in the country are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is because India imports 80% of the total crude oil requirement.

      4 September 2019

    • OMCs keep diesel prices stagnant in the country

      The rates of diesel were kept unchanged in the country on Wednesday. The rates were kept stagnant after the prices saw a cut of 7 paise per litre on Tuesday. Following today’s revision in the prices, a litre of petrol cost Rs.65.11 in the national capital. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai, every litre of diesel was retailed for Rs.68.26, Rs.67.49, and Rs.68.79 respectively. In cities like Noida and Gurugram, a litre cost Rs.65.40 and Rs.64.53 respectively on Wednesday.

      Globally, crude oil prices climbed on Wednesday as there was a sharp dip in US crude inventories. The futures of Brent crude oil were up by 13 cents or 0.2 percent to be trading at $60.16 per barrel. This was the first time in over a week that crude prices touched the $60 mark.

      The rates charged for fuel in the country are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is because India imports 80% of the total crude requirements. It must be noted here that last month Goldman Sachs had lowered its 2019 oil demand projection after other forecasters like International Energy Agency (IEA) and OPEC had done so.

      21 August 2019

    Diesel Price In Metro Cities
    Diesel Price In Other Capitals
    Diesel Price In Other Major Cities
    Diesel Price In States

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