Diesel Price In Shimla Today

  • Today's Diesel Price ( 15 Sep 2019 )
    ₹ 63.55
    Current Diesel Price Per Liter
    Compare Diesel Price in Shimla (Today & Yesterday)
    Today
    (15 Sep 2019)
    Yesterday
    (14 Sep 2019)
    Rate Change
    Diesel ( / litre) ₹ 63.55 ₹ 63.49 ₹ 0.06 ↑
    Diesel Price in Shimla - Last 10 Days Data
    Date Diesel ( / litre)
    15 Sep 2019 ₹ 63.55
    14 Sep 2019 ₹ 63.49
    13 Sep 2019 ₹ 63.4
    12 Sep 2019 ₹ 63.32
    11 Sep 2019 ₹ 63.27
    10 Sep 2019 ₹ 63.27
    09 Sep 2019 ₹ 63.22
    08 Sep 2019 ₹ 63.22
    07 Sep 2019 ₹ 63.22
    06 Sep 2019 ₹ 63.27

    Diesel Rate Trend

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    Diesel Price in Shimla

    Trends change every day in all verticals of the industry. There has been a tremendous changes in the fuel segment such as the arrival of dynamic fuel pricing and GST. Did you know? If you are a diesel consumer from the city of Shimla, this page helps you understand several aspects related to the fuel industry, including fuel rate trends.

    Fuel Rate Trends

    Fuel was priced at Rs.59.42 per litre on the opening date of January 2018. The closing rate stood at Rs.63.65 per litre. February 2018 began with a price tag of Rs.63.76 per litre and concluded with a price of Rs.61.83 per litre. For March 2018, the opening date and closing date prices were Rs.61.93 per litre and Rs.64.05 per litre respectively. Diesel rates in Shimla have increased by 6.65% and 3.31% in January 2018 and March 2018 respectively. They have fallen by 3.12% in February 2018.

    Fuel Companies:

    Indian Oil, Hindustan Petroleum and Bharat Petroleum are the leading fuel marketing entities in India. They are publicly-owned and have established several refinery centres across the country. The entire fuel sector is led by HPCL, BPCL and IOCL, which produce and market diesel, petrol, and petroleum products. The city of Shimla also has the fuel dealers of Hindustan Petroleum, Indian Oil and Bharat Petroleum.

    Dynamic Fuel Pricing

    Fuel companies have started using dynamic fuel pricing to value the fuel. Dynamic fuel pricing is a fuel pricing approach, which determines the fuel rate on the basis of the exchange rate and crude oil overheads. They will either increase the fuel price or decrease the fuel price based on these two parameters. If there are no major changes, fuel prices will not be changed.

    Features of Dynamic Fuel Pricing

    • It is an advanced fuel pricing system used in India, Japan, Russia and the United States of America.
    • The system brings 100% transparency in fuel pricing.
    • Fuel buyers are interlinked with global market dynamics.

    Benefits of Dynamic Fuel Pricing

    • Managing inventory may not be a problem for fuel companies across India.
    • Cash budget, which balances cash inflows and cash outflows, can also be easily monitored.
    • Operating overheads can be reduced to the possible extent.
    • The fuel market in India can be connected with overseas fuel markets.

    Options to Trace Diesel Rate in Shimla

    Diesel is bought by retail customers. It is widely used by institutional buyers. Checking the fuel price on a daily basis helps institutional buyers to prepare the budget in advance. Retail customers should also check the price since it is varying daily. Today’s diesel price in Shimla can be checked by using mobile applications offered by fuel enterprises. Hindustan Petroleum offers a completely personalised mobile application called My HPCL. Indian Oil also provides a user-friendly mobile application called Fuel@IOC. Similarly, the mobile application developed and offered by Bharat Petroleum is SmartDrive.

    Here is a clear explanation for you. If you would like to know the fuel rate fixed at HPCL, download My HPCL. If you are willing to get the fuel price fixed at BPCL, download SmartDrive. Consider downloading Fuel@IOC if you are a loyal customer of Indian Oil to get the latest diesel price in Shimla. This is the best and easiest option for both institutional and retail customers. Another option for people who do not use smartphones is customer care services or SMS services.

    Computation of Diesel Price in Shimla

    Let’s first understand the parties engaged in the fuel market. BPCL, HPCL and IOCL play a vital role. Their primary business is to borrow crude oil from overseas market and convert the imported crude oil into diesel and petrol. Through dealers, petrol and diesel are marketed to fuel customers. Dealers usually charge a certain percentage of commission.

    OMCs have to incur crude oil costs to purchase crude oil. Crude oil is priced in American dollars. If the crude oil cost per barrel is $70 and the USD/INR exchange rate Rs.70, then, the price of crude oil per litre is 70 X 70/159. To the crude oil cost per litre, the total amount of expenses spent by OMCs will be added. On diesel per litre, excise duty is charged at Rs.15.33. When diesel is supplied to fuel stations, the VAT fixed by the concerned government is levied. Shimla is the capital city of Himachal Pradesh, which levies the VAT on diesel at 14.33%.

    RSP of diesel in Shimla = crude oil costs + taxes (excise and Value-added Tax) + OMC costs + commission

    Factors Affecting Fuel Rates in Shimla

    Fuel prices have increased tremendously over the last three months in Shimla. Why are fuel rates increasing? It is mainly because of crude oil costs, which have increased in January 2018 and March 2018. When the crude oil rate increases, fuel rates will be increased by OMCs in India and vice versa. We cannot ignore the impact of the exchange rate. On a daily basis, the exchange rate is reset by the Reserve Bank of India. If the currency of India devalues against the currency of the United States of America, fuel rates are decreased proportionally by OMCs and vice versa.

    VAT and excise duty are revised if required. Excise duty has been revised many times by the present NDA Government. It can be further cut to reduce diesel price in Shimla. When excise duty and VAT increase, OMCs will also increase the price tag of fuels and vice versa. Apart from these aspects, fuel prices are also impacted by other international factors such as production cuts, seasonal variations, demand and supply, etc. Production cuts are announced for some reasons. In such cases, the production of unrefined oil is impacted.

    Does GST Impact Diesel Price in Shimla?

    GST is a common term today. If you buy something, you pay GST. Presently, GST is charged at 5%, 12%, 18% and 28%. When you buy diesel, you do not pay GST. Diesel is out of the regime of GST. The Central Government has to decide whether or not to implement GST on diesel. According to market experts, the inclusion of diesel under GST will completely streamline the tax system.

    Also Check Diesel Price in NearBy Cities of Shimla

    *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 Shimla Today

    • After Two Days, Petrol and Diesel Prices Increased

      After two days, fuel prices were increased today across major metro cities of the countries in keeping with the daily revision in petrol and diesel rates in India. While petrol prices have been increased by 6 paise per litre, diesel prices went up by 8 to 9 paise a litre. A litre of petrol in Delhi rose by 6 paise per litre to stand at Rs.72.86 as compared to yesterday’s price of Rs.72.80 per litre. Diesel prices in Delhi stood at Rs.66.19 per litre, up by 8 paise as against yesterday’s rate of Rs.66.11 a litre. In Mumbai, petrol is being sold at Rs.78.43 per litre, up by 6 paise per litre and diesel is being sold at Rs.69.27 a litre, inclining by 8 paise over yesterday’s price of Rs.69.19. In Kolkata, a litre of petrol is being retailed at Rs.74.88, up by 6 paise and diesel is being sold at Rs.67.85 per litre, up by 8 paise. Similarly, petrol prices in Chennai stood at Rs.75.62 per litre, rising by 6 paise and diesel is being sold at Rs.69.89 per litre, inclining by 9 paise compared to yesterday's price.

      In other metro cities such as Gurugram and Noida, petrol is being dispensed at Rs.72.74 and Rs.72.20 per litre while diesel is being retailed at Rs.65.30 and Rs.65.40 per litre, respectively. While petrol prices in both these cities went up by 5 paise per litre, diesel rates were hiked by 7 paise a litre. Fuel prices are indicative of the global crude oil prices. Today, in the oil market, crude oil prices remained firm amid supply cuts by OPEC and US curbs on Iran and Venezuela. International Brent crude oil futures was up by 18 cents or 0.3% to $71.01 per barrel compared to its previous close.

      15 April 2019

    • No Change in Petrol Prices in Delhi Today

      After six straight increase in petrol and diesel prices, oil companies kept fuel prices unchanged today in Delhi and other major metro cities on Wednesday. In national capital Delhi, petrol is available at Rs.71 per litre and diesel at Rs.66.17 per litre, no revision compared to Tuesday’s price. On Tuesday, petrol prices were increased by 9-11 paise, while diesel prices inclined by 6-7 paise per litre. In financial capital Mumbai, petrol is being sold at Rs.76.64 per litre and diesel at Rs.69.30 per litre. In Kolkata and Chennai, petrol costs Rs.73.11 per litre and Rs.73.72 per litre, while diesel costs Rs.67.95 per litre and Rs.69.91 per litre, respectively. In Noida and Gurugram, petrol is available at Rs.70.78 per litre and Rs.71.65 per litre, while diesel is available at Rs.65.32 per litre and Rs.65.77 per litre, respectively. Fuel prices are determined by the revision in the global crude oil prices along with the rupee-dollar exchange rate. Oil companies revise petrol and diesel prices in India under the daily ‘dynamic fuel pricing’ mechanism. New prices are effective from 6:00 am IST.

      20 February 2019

    • India expected to become second largest oil demand centre in 2019 

      Wood Mackenzie, a research and consultancy group has stated that India will surpass China and become the second largest oil demand growth centre in 2019. The prediction has been made on the back of buoyant auto fuel and LPG consumption. It needs to be mentioned that the group in a report said that India’s oil demand growth recovered in 2018 after implementation of GST and demonetisation. India contributed 14 per cent of the global demand growth in the preceding year which accounts to 2,45,000 barrels per day. It is noteworthy to mention here that according to the US Energy Information Administration (EIA), India is ranked as the world’s largest oil consumer, behind the United States and China. In the 2017-18 fiscal year, India consumed 206.2 million tonnes with 157.4 million tonnes consumed between the months of April and December.  

      As per Mackenzie, diesel is expected to grow by 6.4 per cent year-on-year in the country in 2019. The push is expected to come because of a demand-based approach being taken in the logistics sector after the implementation of GST. The demand for LPG is likely to remain robust at 5 per cent at 40,000 barrels per day.   

      30 January 2019

    • Trade deficit is the lowest in India since April

      Merchandise trade deficit in India has downfallen to a 10-month low in December 2018 triggered by a drop in crude oil prices. Deficit in non-gold, non-oil and sliver trade had been its lowest since the month of April 2018. Oil prices is not the only reason for all movements in the trade deficit. It is not a good news since non-oil exports in the month of December 2018 dropped by 1.6% from one-year ago. The imports of gold and silver also declined by 20.3% compared to the statistics of one year ago.

      21 January 2019

    • Non-oil trade deficit is the lowest in India since April 2018

      Merchandise trade deficit in India has fallen to a 10-month low in the month of December 2018 because of lower crude oil prices. The entire changes in the trade deficit is not because of petroleum prices. Since April 2018, the shortfall in the non-gold and non-oil was also at its lowest since the month of April 2018. It has not been a good news since non-oil exports had been down by 1.6% from a year before. A slenderer non-oil deficit has been caused by 2.2% downfall in non-oil, silver and non-gold imports. Over the last one year, the import of gold and silver dropped by 20.3.

      16 January 2019

    • Fuel Prices Decline for 4th Straight Week

      State-run Oil Marketing Firms reduced the prices of petrol and diesel by 17 paise and 15 paise, respectively in the back of declining crude oil prices in the global market. With this reduction, this the fourth straight week when petrol and diesel prices have been reduced. With the reduction in fuel prices, the petrol price in Delhi is Rs.77.56 per litre in Delhi, while in Mumbai it costs Rs.83.07 per litre, Rs.79.49 in Kolkata, Rs.80.56 in Chennai and Rs.78.18 per litre in Bengaluru. Diesel prices have been cut as well with a litre of the fuel being sold at Rs.72.31 in Delhi, Rs.75.76 in Mumbai, Rs.74.17 in Kolkata, Rs.76.43 in Chennai and Rs.72.70 in Bengaluru. Petrol and diesel prices have declined by nearly 10% during the last 30 days due to the decline in crude oil prices. Oil prices have reduced by nearly 18% since it touched a four-high early October 2018. Currently, Brent crude futures, the benchmark for oil prices were trading at $71.59 per barrel down from $80 when it touched a four-year high.

      14 November 2018

    • Diesel Price Slashed in Delhi and Mumbai for 8th Consecutive Day

      Diesel price received a price cut in Delhi and Mumbai. The price of Diesel in the national capital has been reduced by 7 paise to Rs.74.80 per litre. Overall, the diesel price in Delhi has decreased by 89 paise. Meanwhile, the price of 1 litre diesel in Mumbai is Rs.78.41, down by 8 paise. The fuel prices have been increasing over the past few months and thereby burning a hole to the pockets of millions of daily commuters. The price of 1 litre diesel in Kolkata is Rs.76.65. Finance Minister Arun Jaitley, in early October, announced a price cut of Rs.2.50 per litre for diesel in a bid to reduce the crunch caused by the sudden hike in fuel prices. The government has allowed revision of fuel rates on a daily basis since mid-June 2017 to reflect changes in costs instantly.

      26 October 2018

    • Diesel Costs Rs.71.34 Every Litre in the National Capital

      Diesel prices jumped by 19 paise in the national capital as of Tuesday. The increase in the prices of diesel which saw every litre of diesel cost Rs.71.34. This was the tenth consecutive day when the prices of diesel were hiked in the country by Oil Marketing Companies (OMCs). It needs to be mentioned that since August 16, when rupee dipped to its lowest against the US dollar, diesel prices have seen a hike of Rs.2.42 per litre.

      The recent surge in the prices of diesel has been accounted to the rise in the crude oil prices, high rates of excise duty, and the recent slump in the rupee. In addition to the rise in diesel prices, the prices of compressed natural gas (CNG), non-subsidised LPG gas and piped natural gas (PNG) have also registered a hike. It is noteworthy to mention here that the recent hike in fuel prices has sparked a political fight between the government and the opposition.

      11 September 2018

    • Diesel Rates Today across the Cities in India

      Diesel prices were not changed on Sunday. They were increased on Thursday, Friday and Saturday. On Sunday, a litre of diesel was priced at Rs.68.61 a litre in Delhi, Rs.72.80 a litre in Mumbai, Rs.72.43 a litre in Chennai and Rs.71.16 a litre in Kolkata respectively, according to the official website of Indian Oil Corporation Limited. The system of dynamic fuel pricing is used by fuel companies today to determine the value of diesel per litre. At 06:00 a.m. every day, the new price is released determined and released.

      Fuel companies have been following the system of dynamic fuel pricing since 2017. They are required to take into account the fluctuations in the exchange rate, the USD/INR, and the price of unrefined oil per litre. The system is useful to transmit even the smallest fluctuations to end fuel buyers. On May 30, diesel price per litre had breached an all-time record at Rs.69.31 in Delhi. On Friday, 13 July 2018, prices of unrefined oil were increased by 1% as supplies was hit by airstrike actions in Iran and Norway.

      16 July 2018

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