Trend of Diesel Price in Rajasthan for August 2019 (rates per /litre ):
|Highest Rate in August||Rs.71.05 on 1, 2, and 3 August|
|Lowest Rate in August||Rs.70.09 on 20,21,22 and 23 August|
Monthly Diesel Price Trend in Rajasthan for August 2019:
- Diesel prices in Rajasthan opened the month of August at Rs.71.05 per litre, unchanged from the closing price of the previous day. This was the highest recorded price for a litre in the month.
- The rates plummeted after remaining constant for the next few days due to the trade was between the United States and China. The rates stabilised on 12 August at Rs.70.42 per litre.
- With no improvement in the relations between the countries as well as poor demand for oil in the local market, the rates dropped further recording the lowest on 20 August at Rs.70.09 per litre.
- In the final week, the diesel rate in Rajasthan increased slightly before closing at Rs.70.23 per litre. The overall performance of diesel in Rajasthan for the month was -1.15%.
Monthly Diesel Price Trend in Rajasthan for July 2019 (rates per litre):
|Highest Rate in July||Rs.71.41|
|Lowest Rate in July||Rs.66.63|
- Diesel in Rajasthan opened at Rs.66.63 per litre, the lowest for the month of July. However, diesel prices increased slightly on the next day. However, prices shot up soon afterwards, with the fuel closing at Rs.71.28 per litre on 7 July. The substantial hike was due to the Finance Minister’s declaration of imposing excise duty of Re.1 per litre and the road and infrastructure of Re.1 per litre on fuel. The announcement was made during Union Budget 2019.
- Diesel dropped slightly on July 8, recording Rs.71.19 per litre. After dropping again albeit marginally, it peaked at Rs.71.41 per litre on 11 July, the highest price recorded for the month of July. However, on the very next day, prices dropped. Meanwhile, in the international oil industry, fuel gained owing to Middle East skirmishes, which outweighed OPEC and Russia’s plan to extend supply cuts till March 2020.
- In the third week, diesel prices in Rajasthan remained unchanged, standing at Rs.71.30 per litre. In the global crude market, after speculations over China’s slow economic growth that brought the prices down a bit (internationally), prices shot up after US Navy reported of shooting down an Iranian drone, thereby further escalating tensions in the Middle East.
- Diesel remained unchanged during the last week before recording a slump of 6 paise on 24 July. The fuel closed the month at Rs.71.05. The drop was primarily due to weak demand of oil among investors coupled with OPEC and Russia agreeing to extend supply cuts till March 2020.?
Trend of Diesel Price in Rajasthan for June 2019 (rates per litre)
|2nd June||Rs.68.52 per litre|
|30th June||Rs.66.53 per litre|
|Highest Rate in June||Rs.68.52 per litre on 2 June|
|Lowest Rate in June||Rs.66.11 per litre from 20-23 June|
- Diesel was priced Rs.68.52 per litre when the month began, inclining marginally over the previous day’s price. This was also the highest price recorded during the month.
- Prices of diesel in Rajasthan fell in the first and second week owing to the slump in crude oil prices in the market as the OPEC and its allies continued to limit supplies in the market despite tensions in the Middle East with Iran shooting down a US military drone.
- Diesel rates fell to its lowest on 20 June when a litre was sold at Rs.66.11 per litre and remained unchanged until 23 June; however, it rose in the third and fourth week marginally
- Overall, diesel prices in Rajasthan declined by 2.90% amid decline in crude oil prices in the market due to supply cuts by the OPEC and investors’ expectations of the rate cut by the US Federal Reserve to boost the slowing global economy.
Diesel Rate in Rajasthan:
Rajasthan is the third largest state (in terms of area) and the second most populous state in India.
It is also the wealthiest state in the country with its economy majorly driven by industrial output. The state contributes about one fourth of India’s industrial output and more than 23% of the GDP.
Rajasthan has a huge multi-modal transportation system. The road transportation in the state is operated by the Rajasthan State Road Transport Corporation (MSRTC), which provides economical public road transport service. The state-run buses called State Transport (ST) are the preferred mode of transport for most of the people residing in various cities and districts in the state. Private transport in the state is composed of taxis, auto rickshaws and private vehicles.
|Also Check: Diesel Price in Rajasthan:|
With more population depending on road transportation and people in major cities such as Mumbai, Pune, Nagpur using private vehicles for their day-to-day use, the demand for diesel in Rajasthan is likely to be high.
Discussed below are the various factors that affect diesel rate in the state, the taxes levied by state and central governments on diesel, the daily revision of diesel prices in Rajasthan and other interesting facts about the fuel.
Factors Affecting Diesel Rate in Rajasthan
Diesel price in Rajasthan, just like in other Indian states, fluctuates on a daily basis. There are many components that factor into diesel pricing in India. While few of them affect diesel cost on a daily basis, others affect it once in a while.
Factors that affect diesel price on a daily basis are the international crude oil prices and the US dollar to Indian rupee currency exchange rate.
India imports 70% of its oil requirements from other countries. Hence, diesel prices in India are directly linked to the global crude oil prices. As the crude oil prices are volatile in nature and change every day, diesel prices in India are updated accordingly.
The second factor that impacts diesel price on daily basis is the currency exchange rate. As crude oil trade usually happens in US dollars, the daily fluctuating dollar value impacts diesel price.
Besides the daily impacting components, there are these other components such as the state and central government taxes, marketing costs, transportation costs, dealer’s margins and commission and other operating costs that are factored into diesel pricing.
Among others, state level taxes affect the diesel price in Rajasthan. All the 29 states in India levy value added tax (VAT) on diesel. The tax rate varies from each states as the respective governments are free to decide the taxes. Hence, the tax levied by Rajasthan government makes the diesel price in the state different from other states.
Similar to state government, the central government also levies tax on diesel, called excise duty. The excise duty on diesel remains same across the states. Any revision in the tax would affect the diesel prices in all the states. The recent cut in the excise duty on petrol and diesel in October 2017, is one such move that affected the diesel prices in all the Indian states.
Other factors that marginally impact the diesel price include the profit margins, commission and other operating charges. Though these charges are relatively low, any revision in these may also impact the diesel price.
Quarterly Diesel Price Trend in Rajasthan Between January and March 2019
|Opening date price||Rs.65.07/litre||Rs.67.95/litre||Rs.69.41/litre|
|Closing date price||Rs.68.13/litre||Rs.69.26/litre||Rs.68.58/litre|
|Highest price||Rs.68.33/litre recorded on 25th, 26th, 27th and 28th||Rs.69.26/litre recorded on 28th||Rs.69.93/litre recorded on 5th, 6th and 7th|
|Lowest Price||Rs.64.53/litre recorded on 7th, 8th and 9th||Rs.67.75/litre recorded on 5th and 6th||Rs.68.58/litre recorded on 29th, 30th and 31st|
*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.