• Diesel Price In Ranchi Today

    Daily Diesel Rates
    Date Diesel ( / liter)
    12 Dec 2018 ₹ 65.92
    11 Dec 2018 ₹ 65.92
    10 Dec 2018 ₹ 66.14
    09 Dec 2018 ₹ 66.9
    08 Dec 2018 ₹ 66.9
    07 Dec 2018 ₹ 66.9
    06 Dec 2018 ₹ 67.33
    05 Dec 2018 ₹ 67.78
    04 Dec 2018 ₹ 67.78
    03 Dec 2018 ₹ 68.06

    Diesel Price in Ranchi

    Ranchi is the capital city of Jharkhand which is popular for its educational institutes and is also a popular tourist destination. State-owned buses ply between major cities of the State as well as other cities of the country. Diesel in Ranchi is revised on a daily basis similar to other cities in the country. The diesel price calculation is based on several elements which are external and internal in nature.

    India imports more than 70% of crude or unrefined oil from oil-producing countries which are then refined and supplied to petrol pumps across the nation. State-owned oil companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum operate more than 90% of the fuel stations and fix the retail selling price of diesel.

    How do oil companies arrive at the final selling price of diesel? What are the factors which impact the diesel price in Ranchi to change? When do oil companies revise the diesel rate? Let’s understand and review these questions in detail to understand the concept behind diesel pricing in India.

    Also Know: Diesel Price in Jharkhand

    How do Oil-Companies Arrive at the Final Selling Price of Diesel in Ranchi?

    Diesel Price in Ranchi = Global Crude Oil Price + Currency Exchange Rate + Taxes + Profit Margin & Dealer Commission

    As mentioned, diesel is purchased in its crude form from oil-producing countries. Therefore, the crude oil price is the primary component of the diesel price. Oil companies purchase crude oil in the global market at the current trading rate. Crude oil rates differ due to seasonal fluctuations, shortage in supply, geopolitical tensions or higher demand from emerging economies in the world. A revision in the global crude oil price changes the diesel price in Ranchi as well as other cities in India.

    Trading of crude oil in the international market typically happens in US dollars. The exchange rate of the US dollar is essential while purchasing crude oil in the market. An instance of the US dollar appreciating over the Indian rupee increases the cost to purchase crude oil and when the dollar weakens over the rupee, the price to pay for crude oil decreases.

    Tax on diesel in India is levied by both the Centre and the respective State. Currently, the Centre imposes excise duty of Rs.15.33 for a litre of diesel, while the state of Jharkhand charges Value Added Tax (VAT) at 23.33% per litre. The tax on the supply of diesel is the biggest component of diesel pricing.

    Oil companies purchase crude oil which is then refined as diesel and transported to fuel stations across the country. Fuel companies add their profit margin, other operational costs and dealer (fuel station owners) commission before arriving at the retail selling price of diesel in Ranchi.

    Why do Diesel Prices Change Daily?

    Diesel prices are revised under the ‘Dynamic Fuel Pricing’ mechanism. Fuel companies include the preceding day’s crude oil rate and the US dollar exchange rate to the Retail Selling Price (RSP) of diesel. Diesel prices are updated daily at 6 a.m. IST which is automatically updated in automated fuel stations, while it’s manually updated at non-automated petrol pumps.

    Prior to the daily revision in diesel prices in India, prices were revised every fortnight. Oil companies included the average rate of the preceding fortnight’s crude oil and the currency exchange rate to the diesel cost.

    However, under this method oil companies and consumers weren’t able to pass on any benefits to the customer immediately. This is because, if there’s a sudden increase in the crude oil price, oil companies had to wait a fortnight to pass on the increase to the customer, this led to losses incurred. Also, if the crude oil rate declined, customers were unable to take advantage of the drop in diesel prices. Therefore, the fortnightly method was stopped and the dynamic fuel pricing mechanism was introduced.

    How to Check the Current Diesel Price in Ranchi?

    Since diesel prices are revised on a daily basis, oil companies have launched several methods to track the fuel price.

    • SmartPhone Apps: With extensive use of smartphones, oil companies have launched their respective mobile apps to track the latest diesel price in a city such as Ranchi. Indian Oil has introduced the ‘Fuel@IOC’ app, Hindustan Petroleum has launched the My HPCL’ app, while Bharat Petroleum customers can track it via their ‘SmartDrive’ app.
    • SMS Services: Customers looking to take advantage of the SMS service need to send as per the format below.
      • Bharat Petroleum: SMS RSPDealer Code to 9223112222.
      • Indian Oil: SMS RSPDealer Code to 9224992249.
      • Hindustan Petroleum: SMS HPPRICEDealer Code to 9222201122.
    • Website: Consumers can also visit the respective oil company’s website to check the current diesel price in Ranchi.

    Computation of the Diesel Price in Ranchi

    To understand the concept of dynamic fuel pricing mechanism and the components which results in the final selling price of diesel better, the table below is the breakup of the diesel price recorded in Ranchi on 3 June 2018.

    Sl.No. Component Price
    1 Global Crude Oil Rate + Freight Charges $78.30 per barrel = Rs.32.98/Litre (considering $1=66.96 and 1 barrel oil = 159 litres)
    2 Oil Company’s Profit margin, transportation, refining, and other operational costs Rs.8.10/Ltr
    3 Centre’s Excise Duty + Road Cess Rs.15.33/Ltr
    4 Commission to dealers Rs.2.53/Ltr
    5 Jharkhand Value Added Tax (VAT) + 25p Pollution Cess with surcharge Rs.14.01/Ltr
    Total Retail selling price of diesel in Ranchi Rs.72.94/Ltr

    Diesel Vs. Petrol Price in Ranchi

    Diesel prices are cheaper compared to the petrol price in Ranchi. This is due to the taxes imposed and the operational costs involved in refining the crude oil to diesel. While the Centre’s excise duty on petrol is Rs.19.48 a litre, diesel attracts Rs.15.33 per litre. As for the VAT levied by Ranchi, petrol is charged at 27.45%, while diesel is levied at 23.33% for a litre.

    Is GST Applicable on Diesel in Ranchi?

    India moved to a unified tax regime known as the Goods and Service Tax (GST). Petroleum products such as diesel and petrol; however, does not come under the framework of the GST. The Centre and the states continue to levy the excise duty and the VAT respectively. With the current tax, the government earns higher revenue compared to the highest tax slab under the GST. Currently, GST is not applicable on diesel in Ranchi.

    If diesel is brought under the ambit of the GST, the cost to purchase a litre of diesel will considerably reduce.

    Also Check Diesel Price in NearBy Cities of Ranchi

    Diesel Price in Raipur Diesel Price in Patna
    Diesel Price in Bhubaneswar Diesel Price in Bhopal

    *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 Ranchi

    • Rising Diesel Prices Brings About Laughter Amidst all the Chaos

      Fuel prices have been rising steadily for the last 15 days or so, keeping in line with the international trend. This has brought about a massive furore in the country as it was brought to a standstill by the opposition with the help of a bandh as few days ago.

      Now, despite all the doom and gloom surrounding the rising fuel prices, many twitteratis have chosen to see the funny side of things and are cracking jokes relating to the matter.

      One user tweeted saying, “May your happiness rise like the rising fuel prices in the country”. Fuel prices have been rising in the Rs.0.10 per litre range on a daily basis and the common people’s lives have been hit significantly by this. Add to this, all the hikes have given rise to inflation, where almost every daily use commodities, vegetables, and groceries are becoming that much more expensive to purchase.

      In Delhi, petrol prices went up to Rs.80 per litre, while diesel hovered around the Rs.75 per litre mark. In Mumbai, Chennai, and Kolkata too, petrol and diesel prices have been rising despite some state governments coming up with rate cuts to help consumers.

      17 September 2018

    • Petrol and Diesel Prices Remain Unchanged for Second Day in a Row

      State-owned oil companies kept petrol and diesel prices unchanged for the second straight day in all four metros on 18 July 2018. Petrol is being retailed at Rs.76.84 per litre in New Delhi, Rs.79.51 in Kolkata, Rs.84.22 in Mumbai and Rs.79.76 in Chennai. Diesel prices stand at Rs.68.47 per litre in New Delhi, Rs.71.03 in Kolkata, Rs.72.65 in Mumbai and Rs.72.28 in Chennai. In May 2018, members of the Organisation of Petroleum Exporting Countries (OPEC) agreed to increase the production of crude oil aimed at easing tensions of a possible crunch in oil supply. Fuel prices in India are revised on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism. Under this pricing mechanism, fuel companies include the previous day’s crude oil and currency exchange rate to the final selling price of petrol and diesel in India.

      19 July 2018

    • Diesel Rates Reduce by 9 paise per litre

      Fuel rates have been on a falling trend in the country. On Monday, the price of diesel was cut by 9 paise per litre to Rs.68.88 a litre. Fuel prices have fallen over the last week because of a downfall in the cost of unrefined oil. On Monday, US crude oil rates touched the lowest price. The price of Brent crude futures reduced by $1.50 per barrel in order to set at $75.29 a barrel. After reaching a price of $64.57 per barrel, the cost price of US crude completed at $1.06 lower at $64.75 per barrel. In India, fuel prices will be fixed considering overseas factors such as crude oil rates and the exchange rate.

      6 June 2018

    • Agriculturists objecting diesel prices to hand over tractor the keys of their tractors to officials

      As a part of special protest versus increasing diesel rates, a group of farmers visited the office of the local authorities in Samrala in order to hand over their tractor keys being a part of their special protest against growing diesel rates. Protesters, conducted by the Bharatiya Kisan Union, suspected apathy on a part of the Central Government requesting that the continuous hikes in fuel prices were only totaling to the griefs of the debt-ridden agriculturalists. BKU (Renewals) said “Diesel is a prime product for agriculturists.

      31 May 2018

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