Diesel Price in Pondicherry
Diesel has turned out to be an essential commodity, which can be used for multiple purposes. Majorly, it is utilised by industrial units. Despite the quantum of consumption, the pricing of diesel is connected with global aspects. Thus, diesel prices throughout India have broken their earlier highs. The city of Pondicherry is no different. In Pondicherry, the capital city of Puducherry, diesel rates are unstoppable. They have now touched a price offer of Rs.70.06 per litre. This is very close to the prices offered in metro cities such as Kolkata, Chennai, Mumbai and Delhi.
A Comparison of Current Diesel Price in Pondicherry
Fuel price in Pondicherry was up 6.66% to Rs.66.10 per litre in January 2018. The lowest and highest fuel prices were reported at Rs.61.70 per litre and Rs.66.10 per litre respectively. It was down 3.13% to Rs.64.20 per litre in February 2018. In March 2018, since crude oil costs have recovered, fuel rate in Pondicherry was up 3.31% to Rs.66.51 per litre. On the closing date, the highest rate was registered at Rs.66.51 per litre. Even in April 2018, there was a 2.03% up. Considering these trends, we can say that the prediction of fuel rates precisely is a tough job.
|Also Know: Petrol Price In Pondicherry|
Introduction to Fuel Companies
As we know, India has three state-owned fuel companies, which manage the business of fuel extraction and selling. They include Indian Oil, Bharat Petroleum and Hindustan Petroleum. Indian Oil is a renowned fuel company. It is a market leader with a massive number of fuel dealers across the country. Bharat Petroleum is one of the leading brands of oil and gas. Hindustan Petroleum is also a natural gas and oil company. Like Indian Oil, even Hindustan Petroleum and Bharat Petroleum operate through a vast number of retail dealers.
|Also Check: Diesel Price in Chennai|
Revision of Diesel Price in Pondicherry
Yesterday, the price of diesel per litre was Rs.69.81. Today, it is Rs.70.06 per litre. You can observe a price upsurge of 25 paise. The price may increase by 30 paise a litre tomorrow. It is a clear indication of dynamic fuel pricing. According to dynamic fuel pricing, fuel enterprises are required to reset fuel prices every day in sync with crude oil expenses. It is a commonly used fuel revision practice, which is also used in Australia, Japan, etc. The practice gained popularity at a global level.
Prime Attributes of Dynamic Fuel Pricing
- In Pondicherry, revised fuel rate is displayed at each supply point.
- Diesel buyers in the city of Pondicherry will no longer face problems related to inventory.
- Dynamic fuel pricing enables fuel enterprises to provide the best services to fuel buyers.
Offline and Online Methods to get Today’s Diesel Price in Pondicherry
HPCL, IOCL and BPCL have released a few useful tips to get the latest diesel price in your city. You have two choices: online and offline. If you are a user of Apple operating system, you can use mobile applications such as SmartDrive, My HPCL and Fuel@IOC. SmartDrive helps you find the diesel rate offered at BPCL whereas My HPCL helps you track the current rate offered at Hindustan Petroleum. Similarly, Fuel@IOC can be used to obtain the price range offered at Indian Oil.
Mobile applications cannot be used if you don’t have a smartphone. In that case, what you can do is dial the customer care number of your favorite fuel company. Customer care service professionals will help you get the latest diesel price in Pondicherry. SMS requests can also be sent to the respective fuel company to obtain the details you required. Mobile applications are used by most fuel consumers today.
Process followed to Compute Fuel Rate in Pondicherry
Today’s diesel rate in the city is Rs.70.06 per litre? How was that computed? The process used to compute the fuel rate is very simple. The RSP of diesel is the total of excise duty, crude oil expenses, Value-added Tax (VAT), commission collected by retail fuel suppliers and overheads incurred by OMCs. According to a report released in May 2018, crude oil rate per litre was Rs.31; central tax was Rs.15.33 per litre; and dealer’s commission was Rs.2.52 per litre. On diesel and petrol, the VAT is fixed by the concerned local government. In Puducherry territory, VAT was imposed at 17.51% in May 2018.
Forces Influencing Current Fuel Prices in Pondicherry
- USD/INR exchange rate: On a daily basis, the value of our currency changes against the greenback. The exchange rate has to be considered while importing something from another country and exporting something to other nations. As far as fuel prices in India are concerned, it has a direct impact.
- Taxes: What will happen if the Central Government reduces excise duty by Rs.2 per litre? Fuel rates also have to be reduced by Rs.2 per litre. What will happen if the Central Government increases excise duty by Rs.1 per litre? Needless to say, fuel rates should be increased by Rs.1 per litre. The changes in VAT have the same impact.
- Crude oil costs: Crude oil costs are impacted by production cuts, the demand for the commodity, seasonal variations, etc. The cost of crude oil is expected to increase when the demand for crude oil increases globally and oil exporting countries declare a production cut.
Impact of GST on Diesel Price in Pondicherry
GST, as we all know, is a current tax system. Every customer has to pay GST. Diesel buyers do not pay GST presently. After the implementation of GST, prices of all kinds of services and goods were revised. Diesel rate in Pondicherry was not revised. It was because of the exclusion of diesel under GST. The execution of GST on diesel will bring down the fuel rate by Rs.24-30 per litre and will increase the compliance overheads by 100%. Therefore, it has to be wisely implemented to keep the revenues of the Central Government unaffected.
Also Check Diesel Price in NearBy Cities of Pondicherry
|Diesel Price in Chennai||Diesel Price in Bangalore|
|Diesel Price in Coimbatore||Diesel Price in Madurai|
|Diesel Price in Visakhapatnam||Diesel Price in Trichy|
*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.