• Diesel Price In Mysore Today

    Daily Diesel Rates
    Date Diesel ( / liter)
    13 Dec 2018 ₹ 64.66
    12 Dec 2018 ₹ 64.66
    11 Dec 2018 ₹ 64.66
    10 Dec 2018 ₹ 64.87
    09 Dec 2018 ₹ 65.6
    08 Dec 2018 ₹ 65.6
    07 Dec 2018 ₹ 65.6
    06 Dec 2018 ₹ 66.02
    05 Dec 2018 ₹ 66.45
    04 Dec 2018 ₹ 66.45

    Diesel Price in Mysore

    What is the cost of diesel in Mysore? Do you think it is lower or higher compared to other cities? Why is diesel not priced equally? How have the diesel prices in Mysore responded to the GST law? What are the cost aspects of the Retail Selling Price of diesel in the city of Mysore? Should you have similar questions, this page is exclusively for you. The information has been sourced from various official websites.

    The diesel rate in Mysore, which is one the largest towns in Karnataka, have been varying every day owing to the adoption of dynamic fuel pricing. In lieu of looking at daily prices, let’s consider the average price to make the study simpler. While reviewed lately in March 2018, the average diesel price in Mysore was more than Rs.63 a litre but less than Rs.64 a litre. It will consist of the state and central governments’ tax. The Government of Karnataka imposes the local tax at 19% (as of March 2018) and, the Government of India enforces the customs duty of Rs.15.33 a litre. These taxes may be changed whenever required.

    Also Know: Diesel Price in Bangalore

    A Comparison of VAT on Diesel within the States of India

    Each state enforces the state-level tax on diesel, which can be used for many purposes, including transportation and manufacturing activities. According to the official information unveiled by Petroleum Planning and Analysis Cell, the VAT percentage on diesel in Karnataka is low compared to the neighboring states such as Andhra Pradesh, Maharashtra, Tamil Nadu, and Kerala. In Karnataka, it is just 19%. In Maharashtra, it is 28.41%. It is the highest at 30.86% in Andhra Pradesh. Therefore, the current diesel price in Mysore is low compared to Mumbai, Chennai and Hyderabad. The regional level tax is governed and executed by the respective state government.

    System used to Revise Fuel Prices in Mysore

    Like other products, the diesel price also gets revised. Each day, oil companies will make sure to reset the diesel rate in Mysore under dynamic fuel pricing. Came into existence in 2017, the concept of dynamic fuel pricing addressed the complexities involved in the previous fuel revision mechanism. It is also practiced in advanced markets. To introduce in all towns in India, the Central Government had executed a 40-day trial in 4-5 cities.

    Dynamic fuel pricing is different from the earlier mechanism in terms of the frequency of revision. Each morning, you can find diesel priced differently. The fuel price will fluctuate in accordance the real-time movements in the dollar-and-rupee value and the market rates of crude oil. Today’s diesel price in Mysore is reliant on the previous day’s market undercurrents. Let’s assume that the crude oil’s rate falls by $1 per barrel, this fall is taken into account while setting tomorrow’s fuel price.

    Advantages of Dynamic Fuel Pricing

    • Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited will uninterruptedly supply the fuel to diesel users in the city of Mysore.
    • No governments can influence the fixation and appraisal of the fuel prices in Mysore.
    • The Retail Selling Price (RSP) of diesel offered to fuel users in the city is fully translucent.
    • Dynamic fuel pricing makes oil companies to align diesel consumers with real-time market movements.
    • The system empowers the oil companies to reduce the quantum of time necessitated to maintain regular activities. Cash ledger can be efficiently monitored by oil companies.

    Options to get the Latest Diesel Rate in Mysore

    In this section, we will discuss several options available to get today’s diesel rate in Mysore. Many people nowadays use advanced mobile phones for various purposes. You may ponder using customized mobile applications such as My HPCL, SmartDrive and Fuel@IOC in order to get fuel rates. These mobile applications can be easily downloaded. You may also get today’s diesel price in Mysore by sending an SMS in the prescribed format.

    Computation of Diesel Price in Mysore

    The oil companies retain the right to set and review the diesel rate in Mysore. To compute the retail selling price of diesel, oil companies will include all the expenses that are spent in order to convert unrefined oil into diesel. The following table gives you an idea:

    Cost aspects Diesel rate in Mysore per litre (as of 3 February 2018)
    Crude oil rate including ocean freight Rs.4,200
    One barrel of unrefined oil 159 litres
    Price of crude oil per litre Rs.26.42 a litre
       
    OMC costs  
    Cost of operations, landing expenses, refinery transfer price Rs.7.50 a litre
    Profit margin of oil marketing companies, freight expenses, transportation overheads Rs.2.87 a litre
    Price of fuel after refining Rs.36.79 a litre
       
    Excise duty on diesel Rs.15.33 a litre
    Dealer price prior to tax Rs.52.12 a litre
       
    Commission charged by dealers Rs.2.51 a litre
    Fuel cost before Value-added Tax Rs.54.63 a litre
       
    VAT at 17% in Karnataka Rs.10 approximately
    Retail selling price of diesel per litre in Mysore Rs.64.63 a litre

    Elements impacting Diesel Price in Mysore

    Many forces affect diesel prices in Mysore, including taxes, the dollar-exchange rate, the rate of crude oil etc. The diesel rate should be adjusted by oil selling companies in accordance with the taxes levied by the State Government of Karnataka and the Central Government. If the Central Government determines to cut the excise duty, OMCs have no other options. They have to readjust the fuel price. Similarly, fuel prices (petrol prices and diesel prices) will change domestically if there are any changes in crude oil rates.

    Diesel Rate in Mysore vs GST

    The Goods and Services Tax (GST) will not consider the diesel for taxation purposes. It is fully exempted till date, including petrol. The GST Council has to design the present tax structure in consultation with the Prime Minister of the country. The execution of GST on fuels (petrol and diesel) is a good idea, but it must be executed in a way that keeps the revenues unaffected. The enforcement of the GST at the maximum rate will also cut the current diesel price in Mysore by Rs.12-13 a litre.

    Also Check Diesel Price in NearBy Cities of Mysore

    Diesel Price In Bellary Diesel Price In Udupi Diesel Price In Belgaum Diesel Price In Gulbarga
    Diesel Price In Kozhikode Diesel Price In Coimbatore Diesel Price In Mangalore Diesel Price In Shimoga

    *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 Mysore

    • Union Minister Ramdas Athawale Apologises Over Insensitive Remark

      Union Minister Ramdas Athawale who recently shot up to viral fame after insensitive remarks about the rise in fuel prices has come out with an apology. The minister, in a recent interview, had said that the rise in fuel prices doesn’t affect him in any way, as he said, he is a minister.

      However, after receiving a shellacking from both the opposition and people of the country, the minister has come out with an apology. On Sunday, he said that he understands the plight of the common people and that his statement wasn’t intended to hurt the sentiments of anyone. He further cited references of his tough upbringing and said that he is with the people in the struggle they are going through.

      Also speaking about his party, the Republican Party of India, he said that it opposed the rapid rise in fuel prices. During the event in Jaipur, when he made the insensitive remark, he actually went on to say that he’d suffer in he lost his ministerial seat and not if the fuel price rises. He came up with a solution to the rising fuel prices and said that both centre and states must work towards reducing the taxes to decrease the rising rates.

      19 September 2018

    • Diesel and Petrol Rates Increased for Sixth Straight Day

      Diesel and petrol rates were increase for the sixth straight day on Tuesday according to the country’s leading oil company Indian Oil. Petrol is being retailed at Rs.76.53 a litre in New Delhi, Rs.79.20 in Kolkata, Rs.83.91 in Mumbai and Rs.79.43 in Chennai. A litre of diesel is being sold at Rs.68.23 in New Delhi, Rs.70.78 in Kolkata, Rs.72.40 in Mumbai and Rs.72.03 in Chennai. While the petrol price in New Delhi and Kolkata was increased by 17 paise per litre, in Mumbai and Chennai it was hiked by 16 and 18 paise respectively. Oil prices have been on rise in the global market due to concerns about a possible cut in supply as several oil workers in Norway have threatened to go on strike after talks failed to find a resolution. In India, petrol and diesel prices are revised daily under the ‘Dynamic Fuel Pricing’ mechanism.

      11 July 2018

    • Narendra Modi’s Budget to be Affected by Saudi’s $80 prior to polls

      Narendra Modi, Prime Minister of India, is likely to face an oil-related problem, which is set to deteriorate with Saudi Arabia grubbing for commodities to pass via the $80 barrier. The NDA Government reduced the fuel price to the possible extent by substituting any decrease in rates with levies, which have kept the fuel prices unaffected for end customers and enhance the Federal revenue. Now, the government has been pressurised in order to waive off taxes. Anil Sharma and Ravi Adukia, who are currently working at Nomura Financial Advisory and Securities India Private Limited, said “The Central Government has a strong motive behind another excise duty cut and recommend all the Indian states to diminish Value-added Tax.

      25 May 2018

    • No Info on Diesel Price Hike this Election Season

      There has been no government directive as yet on the issue regarding the increase of diesel prices before the election season. It is likely that the government has made a decision to keep prices competitive in order to encourage a competitive market place and the government may not change the decision made in this regard. It was observed that many oil firms did not make any changes as far as prices are concerned and then, the price of diesel went down by around 3 paisa.

      12 April 2018

    • Diesel Prices in some of the capital states of the country

      As global crude prices extended its gains to two week high, the diesel prices in the country saw an increase as of Monday. With petrol prices in the country revised on a daily basis to be in sync with global crude prices under the dynamic pricing scheme, diesel prices increased by 5 paisa in the country. The new prices for diesel came into effect in the country since 6 a.m on Monday. The price for every litre of non-branded diesel in some of the capital states of the country were as follows: Rs. 63.21 in Bangalore, Rs. 67.54 in Hyderabad, Rs. 60.35 in Chandigarh, Rs. 62.90 in Dehradun, Rs. 64.85 in Guwahati, Rs. 62 in Shillong, Rs. 63.22 in Panjim and Rs. 63.38 in Jammu respectively.

      27 February 2018

    • Petrol and Diesel may be brought under the GST system – says the Oil Minister

      Dharmendra Pradhan, who is the Oil Minister, said “Our ministry is contemplating to bring both fuels – petrol and diesel – under the Goods and Services Tax system and we believe that the GST Council will consider our proposal. The cost of fuel has accelerated due to relentlessly growing crude oil rates in overseas markets.” The Congress party, the opposition party, demanded to include petrol and all petroleum products under the GST purview.  

      The Oil Minister trotted a cycle in order to communicate the message of protect fuels and atmosphere. The Indore Cycling Association (ICA) and the Petroleum Conversation Research Association (PCRA) reported that approximately 30,000 cyclists took part in the event. The Oil Minister further said “Cycling fosters vigorous life and assists in the protection of energy. Both ICA and PCRA shall soon sign an MoU for fostering cycling.

      22 January 2018

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