• Diesel Price In Surat Today

    Daily Diesel Rates
    Date Diesel ( / liter)
    10 Dec 2018 ₹ 67.75
    09 Dec 2018 ₹ 68.52
    08 Dec 2018 ₹ 68.52
    07 Dec 2018 ₹ 68.52
    06 Dec 2018 ₹ 68.95
    05 Dec 2018 ₹ 69.4
    04 Dec 2018 ₹ 69.4
    03 Dec 2018 ₹ 69.68
    02 Dec 2018 ₹ 70.07
    01 Dec 2018 ₹ 70.43

    Diesel Price in Surat

    Surat is a prime city in Gujarat and has witnessed an overall growth. The city consumes diesel in a huge quantity because of an increasing number of diesel-based vehicles and production units. The demand for diesel continues to increase. Interestingly, diesel price in Surat has increased drastically. During the first 15 days of June 2018, diesel retailed at an average price of Rs.73 a litre. This price is inclusive of VAT and excise duty.

    Diesel Price in Surat

    Surat is a prime city in Gujarat and has witnessed an overall growth. The city consumes diesel in a huge quantity because of an increasing number of diesel-based vehicles and production units. The demand for diesel continues to increase. Interestingly, diesel price in Surat has increased drastically. During the first 15 days of June 2018, diesel retailed at an average price of Rs.73 a litre. This price is inclusive of VAT and excise duty.

    Also Know: Petrol Price In Surat

    Let’s understand the concept of dynamic fuel pricing through an example. On 10 June 2018, diesel was valued at Rs.72.95 a litre in Surat. The fuel price decreased to Rs.72.79 a litre on 11 June 2018. On 12 June 2018, diesel rate in Surat further slid to Rs.72.68 a litre. With effect from 06:00 am on 14 June 2018, though the dynamic fuel pricing was implemented, the rate remained unchanged at Rs.72.68 a litre. Here, we can observe fuel rates changing every day. This is because of dynamic fuel pricing which revises the price of diesel considering the changes in the currency conversion rate and crude oil costs.

    Why Dynamic Fuel Pricing?

    All industry participants can benefit from dynamic fuel pricing. Oil Marketing Companies are allowed to reduce the operational expenses as much as possible. They are also permitted to manage their daily working capital better. Most importantly, dynamic fuel pricing promotes the automation drive for Oil Marketing Companies. The system is also extremely useful to end diesel customers. It does not allow the fuel rates to change in a big margin. Even the smallest change can be transmitted to fuel buyers in your city. For example, if the cost of crude oil falls by a small margin, diesel price will be reduced for customers. Moreover, fuel companies can achieve 100% transparency in the pricing of diesel.

    How can I Trace Today’s Diesel Price in Surat?

    Diesel is marketed by Hindustan Petroleum, Bharat Petroleum and Indian Oil. You may be a customer of HPCL or a customer of BPCL or a customer of IOCL. The question is, how can the latest diesel price in Surat be traced easily? Well, you have two options - mobile apps or SMS. If you are using a smartphone, be sure to make use of customised mobile applications provided by OMCs. SmartDrive is a mobile application framed and offered by BPCL for its regular customers. Similarly, IOCL has developed a mobile application called Fuel@IOC. HPCL customers are advised to use My HPCL to trace the current fuel price in your city.

    SMS Facility to Get Current Diesel Rate in Surat?

    • Indian Oil provides an SMS service for its consumers who are required to send an SMS request to 9224992249 in a certain format. The format is RSP DEALER CODE to 9224992249.
    • BPCL customers can send an SMS request to 9223112222 in a prescribed format. The format is RSP Dealer Code to 9223112222.
    • Likewise, customers of HPCL can receive the current fuel price in Surat by sending an SMS request to 9222201112 and the format to send the request is HPPRICE DEALER CODE to 9222201122.

    Components involved in RSP of Petrol in Surat?

    RSP stands for Retail Selling Price. It is charged by fuel dealers. What is the procedure followed to assess the RSP of petrol? It is an interesting question, which needs to be answered. Diesel is valued by respective fuel brands, which follow a simple procedure. The final price is computed by adding all the cost aspects, which include taxes, crude oil costs, commission for fuel marketers and expenses spent by Oil Marketing Companies. Put simply,

    Diesel price in Surat = excise duty + value-added tax + commission charged by dealers + cost of crude oil + OMC expenses

    Forces Impacting Diesel Price in Surat?

    • Cost of crude oil: The recent hikes in diesel rates are the result of the increased crude oil costs. Political factors, production patterns and overseas demands will affect the pricing of diesel. For example, if the demand for unrefined oil goes up in international markets, the cost of crude oil also goes up and as a result, diesel prices will increase in all cities of India, including Surat.
    • Taxes: Every product is sold with a tax bracket. Similarly, diesel is taxed by the Central Government and State Governments. On diesel, VAT is charged by the State Government of Gujarat whereas excise duty is levied by the Government of India. OMCs have to adjust fuel rates if there is a change in excise duty and Value-added Tax.
    • Exchange rate: The USD/INR currency pair expresses the value of the USD against the INR. It directly affects the value of the fuel. Crude oil costs will increase when the greenback falls against the local currency. It will decrease when the greenback increases versus the local currency, the INR.

    GST impact on Diesel Price in Surat

    Diesel has been excluded from the GST purview. So, GST has nothing to do with diesel price in Surat. The Central Government is not interested in executing GST on most widely traded fuels such as petrol and diesel. In India, each state taxes the fuels differently. In Mumbai, VAT on petrol is higher compared to other states. Fuel rates will remain the same across the country if GST is imposed on fuels. In the end, the Central and State Governments tend to suffer big losses. The issue can be wisely addressed. Bringing diesel and petrol under GST is a good idea according to experts.

    According to recent reports, Arun Jaitley, Finance Minister, said “Our government is planning to bring both fuels under the system of Goods and Services Tax. But the country’s financial health gets impacted when the government makes a short-run interference. Let’s assume that diesel is taxed at 12%, diesel rates will fall significantly. Even if diesel is taxed at 28%, the highest GST tax rate, the government will not be able to earn the required amount of revenues.

    Also Check Diesel Price in NearBy Cities of Surat

    Diesel Price in Mumbai Diesel Price in Pune
    Diesel Price in Ahmedabad Diesel Price in Nagpur
    Diesel Price in Indore

    *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 Surat

    • Diesel Costs More than Petrol in Odisha

      In Odisha, the cost of diesel is more than that of petrol as of Sunday. While every litre of diesel cost Rs.80.69, petrol was being retailed at Rs.80.57. This is the first time that such an instance has occurred in the state. It needs to be mentioned that the rates of diesel are always lower when compared to the prices of petrol given that the tax charged on diesel is low.

      The instance of diesel costing more than petrol comes at a time when Oil Marketing Companies (OMCs) are cutting the rates of both petrol and diesel owing to a fall of international crude oil prices.

      As per S.B Behera, the finance minister of the state, the imbalance in the prices was due to the faulty policy of the central government. He was backed by senior Congress leader, Arya Gyanendra, who stated that the central government had failed to regulate fuel prices, especially that of diesel.

      It is noteworthy to mention here that Dharmendra Pradhan, the Oil minister of the country had urged the state government to reduce the VAT of fuel to provide relief to the consumers. The state charges 26% VAT on both petrol and diesel.

      23 October 2018

    • Oil Marketing Companies are all Set to Adopt the 3-digit Price Board

      While people are hoping that petrol prices will reach the Rs.100 mark per litre in Mumbai, all the three state-owned fuel marketing companies are all set to adopt the 3-digit price board. Indian Oil Marketing Company previous year had stated that the retail fuel dealers had been trained so fuel consumers had no issues related to fuel pricing after the introduction of dynamic fuel pricing in India in the month of June 2017. The company had further stated that a majority of fuel distributions centers completely automated the process of revising diesel and petrol prices on a daily basis.

      M Radharksihnan said that the present system can only display the price range up to Rs.99.99 and not above that and the common opinion of people is that the price of a litre of petrol shall soon touch the Rs.100 mark. He further said that as the fuel rates were increasing drastically, fuel retailers had raised their concerns related to working capital. Petrol price increased by Rs.5.65 a litre and diesel price by Rs.6.40 a litre between 1 August 2018 and 17 September 2018, but the dealer’s commission has not been increased.

      24 September 2018

    • Leaflets to be Distributed at Fuel Supply Stations Soon

      It has been planned to distribute leaflets educating customers about ethanol-blended motor spirit, which is composed with 10% ethanol. The news came after the state consumer affairs minister, Sadhan Pandey, conducted a meeting with oil majors on Monday, 21 August 2018, telling them come clean on the usage of EBMS and decrease the rate of petrol. It was complained by the West Bengal Petroleum Dealer Association that oil marketing companies were appropriately mixing ethanol with petrol, which resulted into its translation into water in the tank. They said that the conversion happens during the monsoon. So, gasoline mixing should be delayed until the completion of the rainy reason. Dipankar Roy, who is the state level coordinator for oil companies and executive director at IOCL, said “We have been told by the minister to assess buyers of EBMS. Oil marketing companies commence distributing leaflets with less than 10 days. According to rules, petrol is mixed with 10% ethanol. Tushar Sen, who is the president of the association, said “The cost of a litre of ethanol is 42, but the oil marketing collecting Rs.80 for the same.”

      23 August 2018

    • Diesel Price Charged to Dealers

      According to the ministry of petroleum and natural gases, the diesel price charged to fuel dealers was Rs.39.77 a litre as on 16 July 2018. The retail selling price of diesel per litre will differ from city to city due to taxes. Diesel is taxed by the Central Government and the respective State Government. As on 30 June 2018, on diesel per litre, excise duty was levied at Rs.15.33 whereas the sales tax levied by the Delhi government was 17.28%.

      The cost of crude oil, the overall expenses incurred by the Indian Oil Marketing Companies and the central tax are included in the diesel price, which is charged to retail fuel dealers in any city. The retail selling price, which is charged to end customers, includes the price charged to fuel dealers, sales taxes, the commission for dealers and pollution cess.

      Many fuel dealers do not know that GST has not been imposed on diesel. But, it has been imposed on other types of products and commodities at different tax slabs. It is imposed at 5%, 12%, 18% and 28%. The retail selling price of diesel will fall by 30-40% if GST is imposed on diesel even at the highest tax slab.

      30 July 2018

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