Diesel Price In Odisha Today

Diesel price in Odisha today is fixed by state-controlled oil companies under the daily ‘Dynamic Fuel Pricing’ mechanism. Here, you can check the current diesel price in Odisha, find todays diesel price and the quarterly price trend in Odisha. New diesel prices in Odisha are updated by oil firms daily at 6:00 am IST.

You can also find out how diesel prices in Odisha are calculated and how prices are compared to other states. Also, find the current Odisha diesel price and factors affecting diesel prices in India as well as the highest and lowest price recorded during a month.

  • Today's Diesel Price ( 19 Oct 2021 )

    ₹ 102.34
    Current Diesel Price Per Liter

    Compare Diesel Price in Odisha (Today & Yesterday)

    Rate Change
    Diesel ( / litre) ₹ 102.34 ₹ 102.34 ₹ 0 ↑

    Diesel Price in Odisha - Last 10 Days Data

    Date Diesel ( / litre)
    18 Oct 2021 ₹ 102.34
    17 Oct 2021 ₹ 102.34
    16 Oct 2021 ₹ 102.34
    15 Oct 2021 ₹ 102.34
    14 Oct 2021 ₹ 101.96
    13 Oct 2021 ₹ 101.58
    12 Oct 2021 ₹ 101.58
    11 Oct 2021 ₹ 101.58
    10 Oct 2021 ₹ 101.19
    09 Oct 2021 ₹ 100.81

    Diesel Rate Trend

    • 7 Days
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    • 3 Months
    • 6 Months

    Diesel Prices in Odisha

    Odisha is the eleventh largest state in India by population. Bhubaneswar is the capital city of Odisha. Cuttack and Raurkela are other two prime cities in Odisha with a huge number of industrial units. As far as the consumption of diesel is concerned, Odisha is one the biggest diesel consumers in India. Diesel is not a domestic commodity. It is derived from crude oil, which is imported by Indian oil marketing on a contractual basis. Therefore, the diesel price varies based on crude oil prices and the INR/USD exchange rate. After the daily revision on 8 November 2017, the diesel price was Rs.62.47 per litre.

    Diesel Price in Bhubaneswar, Cuttack and Rourkela (Diesel Price per litre)

    In Bhubaneswar, the diesel price has moved in an upward trend in the first week of November 2017. On 1 October 2017, the fuel rate was Rs.63.18 that reduced to Rs.61.18 on 04 October 2017. We can spot a decreasing trend in October 2017. The fuel was sold at the highest rate of Rs.63.42 and at the lowest price of Rs.60.97 in October 2017. On the opening day of September 2017, in Bhubaneswar, diesel was priced at Rs.61.25 that further rose to Rs.63.12 on the closing day of the month. It means that the fuel price was down by 2.12%.

    The current diesel rate in Cuttack has been moving in an upward trend in November 2017. If we look at monthly rates, fuel prices were not consistent in the city. On 1 October 2017, the fuel price was Rs.63.43 and was Rs.61.49 on 1 September 2017. On 1 July 2017, the fuel was priced less. In Rourkela, the fuel rate has moved in a rising trend in the first week of November 2017. Diesel was priced at Rs.64.85 on 1 October 2017. On 1 September 2017, the price was Rs.54.61. We can spot a slight variation in the current diesel price in all parts of the state because of dealer commission.

    State-wise Levies on Diesel

    Diesel is taxed differently in different states. According to the data published by Petroleum Planning and Analysis Cell on 04 October 2017, in Odisha, the state VAT levied on diesel was 26%. In Maharashtra, the local tax was 28.41%, and in Tamil Nadu, it was 25%. In Uttar Pradesh, the local tax was 20.19%. In West Bengal, it was 18.47%. In October 2017, Maharashtra and Gujarat have diminished the local tax to reduce the fuel price.

    Quarterly Diesel Price Trend in Odisha Between January and March 2019

    January February March
    Opening date price Rs.67.33/litre Rs.70.40/litre Rs.71.96/litre
    Closing date price Rs.70.60/litre Rs.71.80/litre Rs.71.07/litre
    Highest price Rs.70.80/litre recorded on 25th, 26th, 27th and 28th Rs.71.80/litre recorded on 28th Rs.72.52/litre recorded on 5th, 6th and 7th
    Lowest Price Rs.66.75/litre recorded on 7th, 8th and 9th Rs.70.19/litre recorded on 5th and 6th Rs.71.07/litre recorded on 29th, 30th and 31st
    Trend Upward Upward Downward
    % Change 4.85% 1.98% -1.23%

    Quarterly Diesel Price Trend in Odisha between October and December 2018

    October November December
    Opening date price Rs.80.66 a litre Rs.79.22 a litre Rs.72.25 a litre
    Closing date price Rs.79.22 a litre Rs.72.73 a litre Rs.67.33 a litre
    Highest price Rs.81.28 a litre recorded on 17 Rs.79.22 a litre recorded on 1 Rs.72.25 a litre recorded on 1
    Lowest price Rs.79.22 a litre recorded on 31 Rs.72.73 a litre recorded on 30 Rs.67.33 a litre recorded on 31
    Trend Downward Downward Downward
    % Change -1.78% -8.19% -6.80

    Diesel Price Trend in Odisha between October and December 2018

    • Diesel, like other commodities, is repriced under the mechanism called dynamic fuel pricing. The mechanism is internationally used to make the revision of fuel prices.
    • As an effort to lessen fuel prices in India, the Central Government of India diminished its central tax, also called excise duty.
    • Therefore, diesel price in Bhubaneswar, the capital city of Odisha, were declined by Rs.2.69 a litre to Rs.78.33 a litre on the 5th of October.
    • Diesel prices across Odisha witnessed both declining and upward trends in October. For a few days, there were stable.
    • In the first month of quarter, diesel rates were down by Rs.1.44 per litre or by 1.78% because of two reasons: 1) an excise duty cut Rs.2.5 a litre on both diesel and petrol and 2) a marginal decline in oil rates.
    • In BJP-ruled states, fuel prices were lower than more than 5% since they reduced their VAT on diesel and petrol by Rs.2.5 a litre at the beginning of October.
    • Fuel prices in Bhubaneshwar were more than Rs.78.50 a litre but lower than Rs.79.22 a litre in the first week of November.
    • The pace at which fuel prices have declined in November is more than the previous month. It was due to the big lapses in overseas oil prices.
    • Despite an appreciated local currency, fuel rates decreased to Rs.72.73 a litre on 30 November from Rs.79.22 a litre, which is the opening date price. It may be attributed to a downward trend in oil rates.
    • A barrel of crude oil rate (Indian crude) was traded at $80.08 on 1, $70.67 on 7, $70.41 on 12, $65.60 on 15, $60.38 on 23 and $58.56 on 30.
    • We can observe a continuous decrease in retail prices of oil. So, diesel rates across the state showed a falling trend in November.
    • The opening date price for December stood at Rs.72.25 a litre. It decreased by 37 paise a litre the following day.
    • On 3 and 4 December, fuel price was decreased by 40 paise per litre and 30 paise per litre respectively.
    • At Rs.70.28 a litre, the fuel was retailed on 7, 8 and 9 December. It remained stable at Rs.69.17 a litre on 14, 15 and 16 December.
    • The greenback depreciated slightly against the INR and the global market price of crude oil per barrel plunged by nearly $12 per barrel in December.
    • Due to these changes, the public sector fuel marketing entities declined the price of diesel by Rs.4.92 a litre in December.
    • During the quarter, diesel was retailed in Odisha lower than the price of Rs.81.28 a litre and higher than the price of Rs.67.33 a litre.

    Quarterly Diesel Price Trend in Odisha between July 2018 and September 2018

    July August September
    Opening date price Rs.72.22 per litre Rs.72.63 per litre Rs.75.37 a litre
    Closing date price Rs.72.77 per litre Rs.75.37 per litre Rs.79.95 a litre
    Highest price Rs.73.86 per litre documented on the 15th Rs.75.37 per litre documented on the 31st Rs.79.95 a litre documented on 28th, 29th and the 30th
    Lowest price Rs.72.22 per litre documented on the 1st Rs.72.63 per litre documented on the 1st Rs.75.37 a litre documented on the 1st
    Trend Upward Upward Upward
    % Change +0.76% +3.77% +6.08%

    Diesel Price Trend in Odisha in July 2018

    • Similar to other states, diesel prices in Odisha is revised daily by State-owned oil companies under the dynamic fuel pricing mechanism.
    • Oil companies include the global crude oil price and the rupee-dollar exchange rate to arrive at the retail price of diesel in Odisha.
    • In accordance with the daily revision, the diesel price in Bhubaneshwar, the capital city of Odisha, on the 1st of July stood at Rs.72.22 per litre, also, the lowest diesel price recorded during the month.
    • Diesel prices moved upwards over the course of first and second weeks in the back of a marginal increase in crude oil prices in the global market.
    • The highest diesel prices in July was recorded on the 15th when a litre of the fuel was sold at Rs.73.86.
    • Diesel prices in the next couple of weeks declined; however, it was never below the opening price of the month.
    • On the 31st, the closing price for the month stood at Rs.72.77 per litre, an incline of 55 paise per litre when compared to the opening price.
    • Diesel prices in July in Odisha grew by 0.76% primarily due to the slight increase in the global crude oil price.

    Diesel Price Trend in Odisha in August 2018

    • On the 1st of August, the diesel price in Odisha stood at Rs.72.63 per litre, a reduction of 13 paise over the previous day. This was also the lowest price recorded during the course of the month.
    • Prices continued to incline in the first and second weeks in the back of a sharp rise in oil prices in the global market.
    • Due to geopolitical tensions between the U.S. and Iran, after the U.S. pulled out of the nuclear deal with Iran, the crude oil price rose sharply in the global market.
    • With a shortage in supply of oil, fuel prices across the country inclined over the course of the second and third weeks.
    • By the end of the month, the diesel price in Odisha moved upwards to touch the highest rate for the month when a litre was sold at Rs.75.37 on the 31st.
    • Diesel prices in Odisha in August rose by 3.77%, mainly due to the rise in crude oil prices in the global market.

    Diesel Price Trend in Odisha in September 2018

    • The diesel price in Odisha on the 1st of September stood at Rs.75.37 per litre. The lowest price registered during the month.
    • In accordance with the dynamic fuel pricing mechanism, diesel prices were revised over the course of the first and second weeks.
    • The global crude oil price rose to touch a four-year high of $80 per barrel prompting fuel prices to incline across the globe.
    • Additionally, the rupee depreciated to a record low of Rs.72 over the U.S. dollar which influenced diesel prices to touch record levels in the last two weeks of the month.
    • The rise in crude oil prices was in the back of geopolitical tensions between the U.S. and Iran which led to a shortage in supply of oil in the global market.
    • By the end of the month, diesel prices in Odisha were on record levels and touched the highest rate for the month at Rs.79.95 per litre recorded on the 28th, 29th and the 30th.
    • The diesel price trend in Odisha in September was upward with an incline of 6.08% due to the significant rise in crude oil prices and the sharp depreciation of the Indian currency over the dollar.

    Quarterly Diesel Price trend in Odisha between April and June 2018

    April May June
    Opening date price Rs.69.28 a litre Rs.70.75 a litre Rs.74.22 a litre
    Closing date price Rs.70.75 a litre Rs.74.28 a litre Rs.72.22 a litre
    Highest rate Rs.70.78 a litre recorded on the 24th Rs.74.34 a litre recorded on the 29th Rs.74.22 a litre recorded on the 1st
    Lowest rate Rs.69.28 a litre recorded on the 1st Rs.70.75 a litre recorded on the 1st Rs.72.22 a litre recorded on the 1st
    Trend Upward Upward Downward
    %Deviation +2.12% +4.98% -2.69%

    Diesel Price Trend in Odisha in April 2018

    • The opening date price is the price offered on the first day of each month. It was Rs.69.28 a litre in the capital city of Odisha, Bhubaneswar. In other prime cities of Odisha such as Cuttack, Puri and Rourkela, the opening date price was slightly different.
    • Fuel prices will be impacted by both domestic and international aspects. Domestic influencers include excise duty and Value-added Tax whereas international aspects include crude oil expenses and the currency translation ratio.
    • Excise duty was levied at Rs.15.33 a litre whereas the Value-added Tax charged by the State Government of Odisha stood at 24.97% in April 2018.
    • Diesel prices in Odisha were revised under the system of dynamic fuel pricing throughout the month of April 2018. As on 5/7/2018, the fuel price in Odisha stood at Rs.69.61 a litre. It was increased to Rs.69.75 a litre on the 14th and Rs.70.24 a litre on the 21st.
    • In this month, the average crude oil per barrel was reasonably up. As a result, diesel prices in all parts of the state were up by 2.12%.
    • At Indian Oil fuel stations in Bhubaneswar, the highest diesel rate for the month stood at Rs.70.78 a litre and the lowest diesel price for the month stood at Rs.69.28 a litre.

    Diesel Price Trend in Odisha in May 2018

    • Under dynamic fuel pricing, the fuel was priced at Rs.70.75 a litre on the 1st in Bhubaneswar.
    • Diesel rates across the state were steady until the 11th of May 2018 because of the sluggish unrefined oil market and the Karnataka State Assembly Election.
    • After the second week, fuel rates were unstoppable. On the 21st, diesel rate per litre stood at Rs.72.73 in the city. The fuel price was further increased to Rs.74.19 a litre on the 28th.
    • The lowest and highest diesel rates for the month stood at Rs.70.75 a litre and Rs.74.34 a litre respectively.
    • The average diesel price per litre stood at Rs.71.45 for the third week. For the last week, the average diesel rate per litre stood at Rs.73.66.
    • A barrel of crude oil was priced at $69.30 in the month of April 2018. The cost of crude oil per barrel increased to $75.31 in this month. Therefore, fuel companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum increased the fuel rate by 4.98%.
    • Like the first month, both excise duty and Value-added Tax (VAT) were not revised. The upward trend, which was seen in this month, is because of overseas factors.

    Diesel Price Trend in Odisha in June 2018

    • The opening date price for the month was Rs.74.22 a litre in the capital city of Odisha. The price fell to Rs.74.09 a litre on the 2nd and the 3rd.
    • For the first week, the average diesel price per litre stood at Rs.73.96. It dropped to Rs.72.97 a litre for the second week.
    • The average diesel rate per litre for the third week worked out to be Rs.72.97. It fell to Rs.72.35 per litre for the last week.
    • Diesel was sold at a price of Rs.72.22 a litre on the 27th, the 28th, the 29th and the 30th. Because of the downward trend, the highest price was booked at the beginning of the month and the lowest price was booked at the end of the month.
    • Like the first two months, excise duty remained unchanged at Rs.15.33 in Odisha. Sales tax was also not changed in the state.
    • Because of the overseas influencers, diesel rates not only in the state of Odisha but also in other states were reduced in June 2018.
    • For the entire quarter, the highest fuel price stood at Rs.74.22 a litre whereas the lowest fuel rate stood at Rs.69.28 a litre.

    Trend in Diesel Price in Odisha between January and March 2018

    January February March
    Opening date price Rs.64.08 a litre Rs.68.76 a litre Rs.66.82 a litre
    Closing date price Rs.68.66 a litre Rs.66.64 a litre Rs.69.09 a litre
    Highest price Rs.68.66 a litre recorded on 31st Rs.68.87 a litre recorded on 6th Rs.69.09 a litre recorded on 31st
    Lowest price Rs.64.08 a litre on recorded on 1st Rs.66.63 a litre booked on 25th Rs.66.82 a litre recorded on 1st
    Trend Upward Downward Upward
    % Change +7.14% -3.08% +3.39%

    Trend in Diesel Price in Odisha in January 2018

    • Because of transportation overheads, you can detect a price variation of 13 paise a litre between the diesel prices in Bhubaneswar and Cuttack, the two biggest cities in Odisha as of 1st January 2018.
    • Dynamic fuel pricing, a fuel price revision framework deployed last year, revises the fuel rate regularly bearing in mind the disparities in the price of unrefined oil and the exchange rate of the INR versus the base currency, the USD.
    • In January 2018, Hindustan Petroleum, Bharat Petroleum and Indian Oil neither declined the fuel price nor retained the same range of price until the last day. In fact, fuel rates have gone up successively.
    • The USD/INR conversion rate from Rs.63.69 reduced to Rs.63.53 a litre on 15th, and on 31st, Rs.63.56. Similarly, crude oil was priced in excess of $66 per barrel by the end of the month.
    • In consequence, the weekly growth rate of the diesel price in Odisha has increased continually. For instance, in the first week, the average price of diesel stood at Rs.64.39 a litre.
    • At a growth rate of 2.15%, diesel accrued its price to Rs.65.78 a litre during the second week. Almost the same trend was seen in the subsequent weeks.
    Also Check: Diesel Price in Bhubaneswar

    Trend in Diesel Prices in Odisha in February 2018

    • Modi-led Government declared the budget for the FY 2018-2019 on 1st February 2018. Regardless of a few variations in the current tax framework, fuel buyers observed no changes as far as the fuel rate is concerned.
    • Unlike January, in this month, in tandem with overseas facets, the offer was increased at the beginning and depreciated towards the end. So, Indian Oil unveiled the highest fuel rate for the month to be Rs.68.87 a litre on 6th.
    • Oil extracting countries have reported a steep downfall with regard to the demand for crude oil and however, the average diesel rate in parts of Odisha has been lower compared to that of in the earlier month.
    • Also, the exchange rate was reported to be highly hot-blooded on the Forex Market (FX Market). To some degree, it affected the crusade of the diesel prices in February 2018.
    • In the end, a price drop of 3.08% was confirmed by Hindustan Petroleum, Bharat Petroleum and Bharat Petroleum across the state. Other Indian states also experienced the same result in February 2018.
    • Since the lowest rate fell on 25th at Rs.66.63 a litre, the price range gradually increased over the succeeding three days. The offers stood at Rs.66.66 a litre, Rs.66.64 a litre and Rs.66.64 a litre on 26th, 27th and 28th respectively.

    Trend in Diesel Rate in Odisha in March 2018

    • As projected, in emerging nations, crude oil ensued an extensive range of demand at the beginning of March 2018. Thus, once again, the opening day rate was hiked by 18 paise.
    • Based on the trend in the Forex and crude oil markets, diesel prices in Odisha have travelled upwards until 31st like January 2018.
    • The first week closed at Rs.67.59 a litre, the second week at Rs.67.49 a litre, the third week at Rs.67.5 a litre, and the last week at Rs.68.41 a litre. In the end, the fuel rate was up 3.39% to Rs.69.09 a litre on 31st.
    • Because of a massive fall in crude oil costs and a gained USD in February 2018, the growth rate in March 2018 was lower compared to that of in January 2018.
    • Both the central and state governments’ taxes were retained unchanged in Odisha, which means a price rise of 7.81% has been triggered only by the increased crude oil expenses this quarter.
    • BPCL, HPCL and IOCL proclaimed the highest and lowest fuel prices between January 2018 and March 2018 to be Rs.69.09 a lite and Rs.68.66 a litre correspondingly.

    How are Diesel Prices in Odisha Revised?

    Diesel prices are determined on the basis of crude oil prices and the INR/USD exchange rate. These two determinants tend to change frequently. Therefore, variations in crude oil rates and the exchange rate are reflected in the retail selling price. Since 16 June 2017, all oil marketing companies including Indian Oil, Bharat Petroleum and Hindustan Petroleum have been reviewing fuel prices (diesel and petrol) on a daily basis in Odisha. The system of daily revision is called Dynamic Fuel Pricing.

    It is advisable to check the fuel price before you fuel your vehicles. Even a slight variation can make a big difference in the billing amount if your consumption is more. Consumers can make use of the mobile applications, SMS alerts and customer care support services offered by oil marketing companies in order to track daily updates. Fuel rates can be checked online. Moreover, OMCs display revised fuel prices at their premises.

    Features of Dynamic Fuel Pricing

    • All diesel bunks in Odisha will revise the fuel rate at 06:00 a.m. every day.
    • The daily movements in the exchange rate and crude oil prices can be easily transferred to end users.
    • Inventory management can be easier for dealers and oil marketing companies.
    • Cash outflows will remain unaffected for oil marketing companies and dealers.
    • The Indian fuel retailing sector can be interlinked to overseas markets.

    Computation of Diesel Prices in Odisha

    The retail selling price paid by end users comprises of crude oil prices, taxes, expenses incurred by oil marketing companies, dealer commission and pollution cess. The cost of crude oil is a primary component. OMCs import crude oil from foreign oil marketing companies. As on 8 November 2017, the cost of WTI Crude Oil per barrel was $57.25. One barrel is equal to 159 litres. Taxes are of two kinds: 1) the central excise duty and 2) the state levies.

    The excise duty is levied by the central government and was recently reduced to Rs.19.48 per litre on 03 October 2017. The local tax levied on diesel by the government of Odisha was 26%. Consumers will pay these two types of taxes, which are included in the final price. OMCs also incur various types of expenses such as marketing costs, operational expenses, entry taxes and freight charges. These expenses are also included in the price paid by consumers.

    Factors Affecting Diesel Prices in Odisha

    Why do diesel rates change? It is because of two factors: a) crude oil prices b) the INR/USD exchange rate. If crude oil rates increase, the cost of diesel will increase; if crude oil prices decrease, then the cost of diesel will decrease. Consequently, the INR/USD exchange rate impacts the fuel’s price. If the INR falls against the USD, the cost of crude oil will increase, and thus the fuel’s price will increase. On the other hand, if the USD gains against the INR, the diesel price will reduce as a result.

    Is the Current Diesel Price in Odisha Impacted by GST?

    The current diesel price in Odisha is not impacted by GST, which came into effect in July 2017. Including diesel, five petroleum products do not fall under the GST purview. GST, a unified tax system, is applicable to various types of commodities and services. Currently, GST is charged at 5%, 12%, 18% and 28%. The imposition of GST on diesel will bring down the cost of diesel. Tax on diesel is a major source of income for both the central and state governments. If GST is imposed on diesel, the revenue source for the government will be affected.

    Also Check Diesel Price in NearBy Cities of Odisha

    *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 Odisha Today

    • Diesel prices kept unchanged across the country

      The rates of diesel were kept unchanged in the country by state-owned Oil Marketing Companies (OMCs) on Friday. Following the daily revision, a litre of diesel in New Delhi was retailed for Rs.65.84. In the commercial capital, consumers were required to pay Rs.69.06 while in Kolkata and Chennai a litre of diesel cost Rs.68.25 and Rs.69.59 respectively. The price required to be paid for a litre of diesel is the cheapest in the national capital among all the metropolitan cities as the tax imposed on the fuel is low. It must be noted here that the rates charged for a litre of diesel have witnessed a drop by 4 paise so far this month in New Delhi.

      In the international oil market, the futures of Brent crude and US West Texas Intermediate (WTI) fell on Friday due to worries over future demand as uncertainty continued to cover a likely trade deal between the United States and China. The rates of Brent crude and US WTI crude declined by 30 and 34 cents respectively to be trading at $63.67 and $58.24 per barrel.

      The rates of fuel are revised daily in the country as per the dynamic pricing scheme, which was adopted by OMCs 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. This is also because India imports 80% of the total crude requirements.

      22 November 2019

    • India’s Diesel Demand May Decline as Drivers Switch to Petrol

      India’s diesel demand growth is slowly unlinking itself from the auto industry as motorists are increasingly turning to petrol vehicles, leaving it more dependent on uneven demand from heavy and construction industry. The recent slowdown in demand growth in the country could add to a persistent surplus of diesel in the region, prompted in part by healthy exports from China, and out pressure on India’s refining profit margins. Historically, transportation has accounted for two-thirds of India’s diesel utilisation, but a continuous drop in discount to petrol has witnessed sales of diesel-powered four-wheelers to a record low share of accumulated sales, as per industry body Society of Indian Automobile Manufacturers (SIAM). This declining demand from the automobile sector means diesel demand growth in India could depend on company and government infrastructure spends compared to daily use by commuters. According to SIAM, diesel-powered cars accounted for more than 19% of total car sales in the 2018-19 financial year as against with about 50% of sales during 2012-13 financial year. Also, as per the data from the Ministry of Petroleum and Natural Gas, the decline in diesel-powered vehicles sales influenced the slower diesel consumption growth, from about 7% per annum from 2010 through 2013, to about 13% for 2018-19.

      18 July 2019

    • OMCs Keep Diesel Rates Stagnant in the Country

      The rates of diesel in the country were kept constant in the country on Sunday. After Sunday’s revision in the prices, a litre of diesel was retailed for Rs.66.24 in the national capital. In Mumbai, the financial capital of the country, a litre of diesel cost Rs.69.43 while in the eastern and southern metros i.e., Kolkata and Chennai consumers were required to shell out Rs.68.31 and Rs.69.96 respectively. In Noida and Gurugram, the rates charged by OMCs for a litre were Rs.65.34 and Rs.65.43 respectively. It is noteworthy to mention here that the rates of fuel increased in the country after finance minister Nirmala Sitharaman in her budget speech proposed to hike the special additional excise duty by Re.1 in the country.

      With India importing 80 percent of its total crude requirement, the rates charged for fuel by OMCs are dependent on international oil prices and the value of rupee against the US dollar. In addition to this, other factors like global cues, fuel demand, excise duty, dealers’ commission, and VAT are taken into consideration.

      15 July 2019

    • Diesel prices hiked by Rs.1.04 in the country

      The rates of diesel in the country has witnessed a hike of Rs.1.04 in the last six days. With the Lok Sabha polls coming to an end on May 19, Oil Marketing Companies (OMCs) has been increasing the prices on all days apart from May 22.  

      As of Sunday, the rates charged for a litre of diesel in New Delhi was Rs.66.57. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai consumers were required to shell out Rs.69.75, Rs.68.33, and Rs.70.37 respectively. It is noteworthy to mention here that the rates of diesel in the national capital had increased by Rs.0.61 per litre in the past week. 

      The increase in the prices has been accounted to the fact that the rates of diesel were not in tandem with the rates of crude oil in the international market. Owing to the general elections in the country, the government had reportedly asked the OMCs to keep the rates of fuel at moderate levels. With the polls over now, OMCs are trying to make up the margins. It needs to be mentioned here that globally crude oil rates increased by up to 10% in the last one month. 

      29 May 2019

    • Diesel Sold for Rs.66.46 in Delhi

      Every litre of diesel was retailed for Rs.66.46 in the national capital on Tuesday. This came after state-run Oil Marketing Companies (OMCs) decided to keep the rates of diesel unchanged in the country following Tuesday’s revision. In the other metro cities i.e., Kolkata, Mumbai, and Chennai consumers were required to shell out Rs.68.20, Rs.69.56, and Rs.70.17 respectively for one litre of diesel. In non-metro cities Noida and Gurugram, the rates charged were Rs.68.20 and Rs.72.27 for every litre.

      It needs to be mentioned here that the prices were slashed by 7 paise on Monday. On the international front, crude prices continued to shoot up on Tuesday as well following the decision of the Trump administration to end all Iran curb waivers by May. While the rates jumped by 3% the previous day, it spiked up by 5% on Tuesday. The futures of Brent crude oil were trading at $74.40 per barrel. It needs to be mentioned here that the rates of fuel in the country are revised on a daily basis as per the dynamic pricing scheme, which was adopted by OMCs in June 2017.

      23 April 2019

    • Rupee Loses 11 paise to 71.34 Against the US Dollar Amid Crude Oil Scare

      The rupee declined by 11 paise to end at 71.34 against the US dollar on Monday. The decline comes amid firming of crude oil prices in the international market along with persistent foreign fund outflows. Additionally, heavy selling in domestic equity markets weighed on the rupee. After today’s decline, the rupee witnessed its fourth straight session of loss, during which it has depreciated by 64 paise. At the Interbank Foreign Exchange (forex) market, the rupee opened weak at 71.35 and dropped further to 71.52. However, it recovered to finally end at 71.34, declining by 11 paise as compared to its previous settlement. On Friday, the rupee had declined by 7 paise against the dollar at 71.23. Crude oil prices have touched their highest levels since November 2018. Oil prices have inclined by more than 20% so far this year as Russia and Saudi Arabia have said that they will cut production concerns that the US sanctions on Venezuela and Iran will possibly limit the supply of oil in the market. International benchmark Brent Crude oil futures was trading at 0.15% higher at $66.36 per barrel. Meanwhile, the dollar index which gauges the currency’s strength against basket of six currencies, was down by 0.22% to 96.69.

      18 February 2019

    • Largest drop in the average price of crude oil in 4 years

      As per the U.S. Energy Information Agency (EIA) report, the spot price of crude oil has dropped sharply in November and a further drop is expected in 2019 because of the higher inventory and production.

      The average spot price of Brent crude oil in November was 65 US Dollars per barrel. This price is 16 US Dollars less than the corresponding price in the month of October. EIA has also said that the November price has also been the biggest monthly drop in around four years.

      The high production of crude oil, averaging 11.5 million barrels per day in the month of November, has been chiefly because of the hurricane-affected oil platforms that returned back to normal operations.

      EIA has also said in the following year, the global liquid fuels production might increase by 1.4 million barrels per day. Also, the total inventories of global liquid fuels are expected to grow by 0.2 million barrels each day. However, the production of liquid fuels by the Organization of the Petroleum Exporting Countries may drop by 0.9 million barrels each day in 2019. Also, the consumption of these fuels is expected to increase by 1.5 million barrels per day with major contributions from India, China, and the US.

      12 December 2018

    • Petrol prices falls again, the downward trend continues

      On Monday, fuel prices continued on its downward trend as the state-owned companies decided to cut rates across the nation. In the national capital, petrol retailed at Rs.70.31 per litre, which was a Rs.0.39 per litre drop compared to the previous day.

      Other metro cities too saw petrol prices plummet as the market was hit by an oversupply of crude oil, which has been pushing fuel rates down.

      In Kolkata, petrol was sold at Rs.75.90 per litre while in Chennai the same was selling at Rs.72.37 per litre with Noida and Gurugram seeing petrol sell at Rs.70.17 per litre and Rs.69.36 per litre for the day.

      This is one of the lowest prices recorded since petrol prices hit their highest ever levels during the beginning of October. Over the last months, petrol prices have gone down by more than Rs.12 in most cities. At its peak, petrol was selling at Rs.84 per litre in Delhi - which means prices have gone down by over Rs.14 per litre in just over a month’s time.

      The falling trend seems like it will continue for the next few weeks until the expected crude price hikes arrive when the OPEC and partner nations cut down on the supply.

      11 December 2018

    • Diesel Prices Drop by More Than Rs.0.20 per litre; Dipping Crude Oil Prices Seen as the Reason

      Diesel prices have been on the drop for the last three weeks thanks to a rising rupee, which had been the weakest performing currency in all of Asia, as well as the drop in crude oil prices. In Mumbai, diesel prices on Thursday fell to Rs.76.38 per litre from Rs.76.57 per litre - which was a Rs.0.19 per litre decline.

      Likewise in Delhi, Chennai, and Kolkata, diesel was priced at Rs.72.89 per litre, 77.05 per litre, and Rs.74.75 per litre respectively as opposed to Rs.73.07, 77.24, and Rs.74.93 per litre respectively. The constant change in prices are due to the dynamic pricing mechanism introduced by the central government where in fuel prices increase or decrease on a daily basis depending on the acquisition cost of crude oil as well as the manufacturing process that follows.

      With news that India can trade with Iran till the end of May, it looks like the current government has dodged a bullet and has found an effective way to keep the fuel prices from going up in the upcoming weeks and months.

      13 November 2018

    • Crude Oil Rates are on the Rise in Emerging Economies, Including India

      Crude oil price is presently hovering around $85 a barrel and can go up to $100 per barrel in the near future. It was $147.50 a barrel in 2008 but we have to still travel a big distance to reach that level. The record high crude oil price was broken in March 2018 in the Brazilian currency, while in Mexican pesos, a one-year high was broken in May 2018. The commodity price is also on the rise in the domestic currencies of India, South Africa and Indonesia. While the currencies of the emerging countries are depreciating versus the USD, fuels turned out to be expensive for the consumers in non-affluent countries. The move has caused a strike by truck-drivers and some political developments and more importantly, a recent rise in crude oil prices has made the rebirth of the President of Mexico. The move influenced the political scenario in India as well. A few economies follow certain methodologies to address such issues. The International Energy Agency reported that the governments in the world granted an oil subsidy of $105 billion in the year 2016.

      12 October 2018

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

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