Diesel Price in Tamil Nadu
The Indian state Tamil Nadu is located in the southernmost part of Indian peninsula. Major cities in the state include Chennai, the capital and the largest city, Coimbatore, Madurai and Salem.
With the major cities in the state developing at a rapid pace, the state’s dependency on fossil fuels like diesel has been increasing.
In that regards, let us see a few more details about the diesel price in Tamil Nadu compared to other south Indian states, factors affect the price, how often diesel prices are revised and other information about diesel and its pricing that would give a few insights about the topic.
Diesel Price in Tamil Nadu Compared to other South Indian States
Diesel price in Tamil Nadu compared to other south Indian states such as Andhra Pradesh, Telangana, Karnataka, and Kerala is the second lowest with a litre of diesel trading at Rs.60.02/Lt on 13 October 2017. The lowest price in offered in Karnataka, which abolished entry tax on diesel leading to reduced fuel prices in the state.
The second lowest diesel rate in Tamil Nadu can be attributed to tax rate charged by the state government which compared to other south Indian states is again the second lowest.
Factors Affecting Diesel Price in Tamil Nadu
Tamil Nadu, similar to other Indian states, levies value added tax (VAT) on every litre of diesel sold in the state. The rate of tax is what makes diesel price in Tamil Nadu different from other states. Therefore, tax becomes the primary factor that affects diesel price in the state. Any revision, either upward or downward, would directly impact the price of diesel across all the cities and towns in Tamil Nadu.
Besides the state specific tax, other factors that commonly affect diesel price in Tamil Nadu and in other Indian states are
- International crude oil prices
- Currency exchange rate
- Central government taxes
- Profit margins and dealer commissions
The two factors that impact diesel price on a daily basis are the global crude oil prices and the currency exchange rate.
- Crude Oil Prices: Ever since dynamic fuel pricing was implemented in India, diesel prices in India are aligned with the international crude prices on a daily basis.
|Also Check: Diesel Price in Chennai|
Crude oil prices are typically volatile in nature as they are determined based on various other factors such as the demand and supply metrics, political stability in the oil producing nations, climatic conditions, and similar other factors. The recent hurricane in the United States is one such example which damaged many oil refineries across the country resulting in reduced oil production. Less supply led to higher demand thus higher oil prices.
India being major importer of crude oil purchases more than 70% of its oil requirements from other countries. Daily diesel price will be calculated based on the rate at which international crude oil is being traded on that particular day. Hence, any slight change in the global crude price would impact the retail selling price of diesel in India.
- Currency Exchange Rate: The second element that affects the diesel on a daily basis is the US dollar to Indian rupee exchange rate. Globally oil trading happens in US dollars. Whenever the dollar value strengthens, oil companies have to shell out more money to purchase oil, hence the fluctuating dollar price becomes another factor that affects diesel price.
- Central Taxes: Just like the state governments, the central government also earns significant revenue on diesel by collecting excise duty on every litre of diesel sold in the country. Though the excise duty does not change on a daily basis, any revision in the tax would affect the diesel price across the country. Recently, there was a reduction in the excise duty on diesel by Rs. 2/Lt, effective from 4th October, which brought down diesel rate across the country.
- Profit Margins and Dealer’s Commission: Who would do a business without profits and so are the Indian oil companies and petrol pump dealers. The downstream oil market in India, which includes refining, processing and purifying of crude oil, along with the marketing and distribution of end products, is dominated by state-owned oil companies such as Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum, which captured more than 90% market share. Private players such as Reliance, Essar, Shell and others occupy the remaining market share.
These companies add marketing and distribution costs as well as their profit margins to the diesel price before selling it to the petrol pump dealers. They would revise the margins whenever necessary. Though not often, any change in the margins will also impact diesel price.
Once the petrol pump dealers purchase diesel from the oil companies, they add their commission, which factors in employee minimum wage, to every litre of petrol sold at their station. The oil companies usually decide the dealer’s commission and would revise the same once every year. The revision of commission also impacts the diesel price.
Quarterly Diesel Price Trend in Tamil Nadu between July and September 2018
|Opening date price||Rs.71.12 a litre||Rs.71.62 a litre||Rs.74.46 a litre|
|Closing date price||Rs.71.66 a litre||Rs.74.23 a litre||Rs.79.08 a litre|
|Highest price||Rs.72.48 a litre recorded on the 15th||Rs.74.23 a litre recorded on the 31st||Rs.79.08 a litre recorded on the 30th|
|Lowest Price||Rs.71.12 a litre recorded on the 1st||Rs.71.62 a litre recorded on the 1st||Rs.74.46 a litre recorded on the 1st|
Diesel Price Trend in Tamil Nadu in July 2018
- In Tamil Nadu and other states of the country, diesel and petrol prices are revised every day by State-run Oil Marketing Companies (OMCs) under the dynamic fuel pricing mechanism. New rates are effective 6:00 am IST.
- Under the dynamic pricing mechanism, oil companies include the global crude oil rate and the exchange rate of the Indian currency over the U.S. dollar.
- Based on the pricing mechanism, the diesel price in Chennai - the capital city of Tamil Nadu - on the 1st stood at Rs.71.12 per litre. This was also the lowest diesel price registered in July 2018.
- Prices were kept unchanged until the 5th before it was increased by 12 paise per litre to stand at Rs.71.24 per litre.
- Diesel prices during the first and second weeks inclined to touch the highest diesel price recorded for the month when a litre of diesel was available at Rs.72.48 on the 15th.
- The increase in diesel prices was felt across the country due to the marginal increase in the global crude oil prices.
- By the end of the month, prices declined; however, not lower than the opening price of the month.
- The closing price of diesel for the month stood at Rs.71.66 per litre, an increase of 54 paise per litre when compared to the opening price.
- Overall, the diesel price trend in Tamil Nadu during July inclined by 0.76% impacted by the slight rise in oil prices in the global market.
Diesel Price Trend in Tamil Nadu in August 2018
- In accordance with the daily revision, the diesel price in Chennai was changed on the 1st of August and a litre of the fuel was sold at Rs.71.62, which was also the lowest diesel price for the month.
- With the U.S. administration pulling out the nuclear deal with Iran, there were apprehensions of possible shortage in oil supply which prompted the oil price to trade higher.
- Diesel prices in Tamil Nadu during the first and second weeks of August inclined marginally in the back of a rising oil price.
- Some states in the country such as Rajasthan, West Bengal and Andhra Pradesh announced a reduction in the VAT levied on petrol and diesel; however, in Tamil Nadu the tax rates remained the same.
- In tandem with the increase in oil prices in the global market, diesel prices during the month inclined to touch the highest price on the 31st when a litre of diesel was available at Rs.74.23 in Tamil Nadu.
- During the course of the month, the diesel price trend in Tamil Nadu grew by 3.65% impacted by the increase in the global crude oil price.
Diesel Price Trend in Tamil Nadu in September 2018
- On the 1st of September, oil companies hiked diesel prices in Tamil Nadu by 23 paise per litre to be sold at Rs.74.46 per litre. This is also the lowest price recorded during the month in the State.
- Diesel prices continued to increase over the course of the first and second weeks even as crude oil price moved upwards.
- Additionally, the Indian currency depreciated to its lowest trading at Rs.72 over the U.S. dollar prompting fuel prices to rise significantly.
- While the global crude oil price rose to touch a four-year high of $80 per barrel, the rupee’s exchange rate was at its lowest ever of 72.
- By the end of the month, diesel prices in Tamil Nadu and across other states touched record levels offering no relief to consumers.
- On the 30th of the month, the diesel price in Tamil Nadu touched the highest for the month when a litre was sold at Rs.79.08.
- Overall, the diesel price trend in Tamil Nadu in September grew significantly by 6.20% mainly influenced by the rise in crude oil prices and the fall in the exchange rate of the Indian currency.
Quarterly Diesel Price Trend in Tamil Nadu between April and June 2018
|Opening date price||Rs.68.12 a litre||Rs.69.56 a litre||Rs.73.10 a litre|
|Closing date price||Rs.69.56 a litre||Rs.73.16 a litre||Rs.71.12 a litre|
|Highest rate||Rs.69.60 a litre recorded on the 24th||Rs.73.22 a litre recorded on the 29th||Rs.73.10 a litre recorded on the 1st|
|Lowest rate||Rs.68.12 a litre recorded on the 1st||Rs.69.56 a litre recorded on the 1st||Rs.71.12 a litre recorded on the 30th|
Diesel Price Trend in Chennai in April 2018
- Fuel was offered at a price of Rs.68.12 a litre as on 1 April 2018 in Chennai, the capital city of Tamil Nadu. The same price was also offered in other prime cities of Tamil Nadu, including Salem, Thanjavur, Vellore, Erode, etc.
- The pricing of diesel is purely based on the exchange rate, the USD/INR, and international crude oil rates. Any changes in excise duty and Value-added Tax are taken into account to price the fuel if any.
- In this month, both forms of taxes were not revised. The changes in the exchange rate and crude oil rates influenced the pricing of diesel completely.
- Under dynamic fuel pricing, diesel rates in the city of Chennai were retained unchanged at Rs.68.41 a litre on the 3rd and the 4th. They were also constant at Rs.69.56 a litre on the 25th, the 26th, the 27th, the 28th, the 29th and the 30th.
- Compared to the previous month, the average crude oil cost per barrel was increased by oil-producing countries such as OPEC and Iran in April 2018.
- Therefore, fuel companies such as Bharat Petroleum Corporation Limited, Hindustan Petroleum and Indian Oil increased the fuel rate by 2.11%.
Diesel Price Trend in Chennai in May 2018
- Crude oil rates were steady at the beginning of this month. The fluctuations in the exchange rate were not noticeable. Because of this reason, the fuel was marketed at a price of Rs.69.56 a litre in the first week.
- By the end of the second week, the fuel price in Chennai was revised to Rs.69.83 a litre. Fuel companies further increased the price of diesel per litre to Rs.71.63 a litre on the 21st and Rs.73.07 a litre on the 28th.
- In May 2018, diesel was retailed at the highest rate of Rs.73.22 a litre on the 29th and the lowest rate of Rs.69.56 a litre on the 1st. In this month also, neither the State Government of Tamil Nadu nor the Central Government of India revised the taxes.
- Petroleum Planning and Analysis Cell, which is the statistical wing of the Oil Ministry, reported a reasonable hike in crude oil rates. Because of this fact, fuel rates were up 5.17% to Rs.69.56 a litre in May 2018.
- Neighboring states of Tamil Nadu such as Karnataka, Kerala and Andhra Pradesh also produced the same trend as far as diesel rates are concerned.
Diesel Price Trend in Tamil Nadu in June 2018
- On 1 June 2018, diesel price in Tamil Nadu was down by 6 paise per litre compared to the previous day’s price. It dropped to Rs.72.97 a litre on the 2nd and the 3rd.
- When revised on the 14th of June 2018, the fuel rate stood at Rs.71.62 a litre. The oil marketing companies further dropped the fuel price to Rs.71.48 a litre on the 21st and Rs.71.12 a litre on the 28th.
- During this quarter, excise duty on diesel per litre was Rs.15.33 whereas the sales tax levied by the State Government of Tamil Nadu was 24%. Taxes had no impact on the pricing of diesel per litre.
- In tandem with unrefined oil rates, diesel rates not only in Chennai but also in other major cities such as Salem, Erode and Vellore were down by 2.70%.
- On the 1st, the highest fuel rate was booked at Rs.73.10 a litre. This was also the highest fuel rate for the quarter as well.
- With a span of three months, the price of diesel per litre across the state of Tamil Nadu was up by 5.87%.
Trend in Diesel Price in Tamil Nadu between January and March 2028
|Opening date price||Rs.62.96 a litre||Rs.67.06 a litre||Rs.65.68 a litre||Rs.63.38 a litre||Rs.67.99 a litre||Rs.66.20 a litre|
|Closing date price||Rs.67.05 a litre||Rs.65.50 a litre||Rs.67.93 a litre||Rs.67.99 a litre||Rs.66.01 a litre||Rs.68.41 a litre|
|Highest price||Rs.67.05 a litre booked on 31st||Rs.67.71 a litre on 5 and 6th||Rs.67.93 a litre booked on 31||Rs.67.99 a litre booked on 31st||Rs.68.22 a litre booked on 6th||Rs.68.41 a litre booked on 31st|
|Lowest price||Rs.62.96 a litre booked on 1st||Rs.65.49 a litre on 25th||Rs.65.68 a litre booked on 1||Rs.63.38 a litre booked on 1st||Rs.65.97 a litre booked on 26th||Rs.66.20 a litre booked on 1st|
Trend in Diesel Price in Tamil Nadu in January 2018
- The diesel price in Chennai is higher compared to that of in Coimbatore owing to transportation overheads. Other aspects such as the excise duty, the dealer’s commission and the VAT remained unchanged in these two prime cities in Tamil Nadu.
- In Tamil Nadu, the fuel market began with a growing tendency. Throughout the month, the fuel prices were neither constant nor decreased according to dynamic fuel pricing system.
- It is owing to the stabilised demand for unrefined oil in international markets and a slightly weakened USD. Higher the demand for crude oil, the higher will be the cost of crude oil and vice versa.
- At Rs.67.05 a litre, a multi-year high was broken in the city of Chennai on 31st. Similarly, in Coimbatore, the highest price was avowed at Rs.67.99 a litre on 31st. Market watchers have stated that the highest price record will be breached in the forthcoming months.
- BPCL, HPCL and Indian Oil have reported a rise in all the notable towns in Tamil Nadu. The fuel rates were up 6.49% and 7.27% in Chennai and Coimbatore respectively because of the notable changes in the overseas price influencers.
Trend in Diesel Rates in Tamil Nadu in February 2018
- Fuel prices are anticipated to change whenever the Central Government implements the new budget, but the scenario was different this year.
- Despite a few variations in the BJP-led Government’s budget for the financial year 2018-2019, the diesel consumers in Tamil Nadu continued to pay the same RSP on 1st.
- Unlike January, you can watch a mixed retort from the fuel rate. Until the first week, it travelled upwards. Afterwards, the OMCs began plunging the rate on the basis of the global considerations.
- There was a steep collapse in the demand for the commodity and thus, the prices of Brent and WTC have dampened significantly.
- Compared to the earlier month, the greenback slowly rebounded its value against the currency of India. Consequently, crude oil costs were impacted to some extent.
- After 25th, an upward tendency was detected in Chennai and Coimbatore. Other prime cities in Tamil Nadu have proclaimed the same result.
- The sluggish crude oil market caused a 2.32% decrease in the capital city of Tamil Nadu and a 2.91% drop in Jodhpur, the second biggest city.
Trend in Diesel Prices in Tamil Nadu in March 2018
- The crude oil’s demand was reported to be steady during the first week of March. Therefore, the opening date diesel price was up by a few paise compared to the last day’s price.
- Compared to January, the weekly growth rates have been lower primarily because of the ups and downs in the currency conversion ratio.
- In India, the RBI declares the translation rate of the USD against the INR considering various domestic and international elements. The USD/INR exchange will be revised on a daily basis in the Forex Market.
- Especially in the month of March, the impact of the currency exchange rate has been minimal. A reasonable gain in the overseas crude oil rate has impacted a 3.33% rise in the diesel rate in Coimbatore and a 3.42% upsurge in the diesel price in the capital city.
- In this quarter, the excise duty and the VAT were not revised. Moreover, there were no variations in the dealer’ commission and the overheads spent by the Indian OMCs, including HPCL, BPCL and Indian Oil.
- Under the daily price revision framework, not only in Tamil Nadu but also in other states, diesel has gained its price more than 7% this quarter. The fuel consumers across the country are expecting a cut in the excise duty by the Central Government.
State Taxes and Diesel Price in Tamil Nadu
The Tamil Nadu government currently levies value added tax (VAT) of 25% on a litre of diesel, which compared to other south Indian states in the second lowest with the lowest levied by Karnataka government.
The latest tax revision in the state took place in March 2017, when the government increased the tax from 21.4% to the current 25%. VAT on petrol was increased from 27% to 34%. With the revised tax rate, diesel in the state became costlier by Rs.1.70/Lt and petrol by Rs.3.78/Lt in the same month.
How often Diesel Prices are Revised in Tamil Nadu
In Tamil Nadu, just like in other states in India, diesel prices are revised on a daily basis. Ever since dynamic fuel pricing was introduced in India, diesel prices have been linked to the global crude oil prices.
Just like gold prices, petrol and diesel prices in India are now revised every day based on the international crude oil price and currency exchange rate. This enables the oil companies to pass even the slightest change in the product price and exchange rate fluctuation immediately to the end user.
Customers are expected to benefit from this model of pricing as the daily fluctuation remains within manageable units of currency unlike the previous fortnightly revision wherein the price adjustment was often high.
The new pricing mechanism also brings transparency in fuel pricing as well as encourages automation of petrol pumps while enabling better stock management practices at the stations.
All the petrol pumps in Tamil Nadu, as per the new policy, should update the revised diesel price everyday by 6 a.m. The updation will be done automatically at the automated stations, while the rest have to do it manually by fetching the revised prices from the respective OMCs.
Customers can find the daily revised price of both diesel and petrol on the websites of the oil companies.
Effect of GST on Tamil Nadu Diesel Price
Goods and services tax or GST has been introduced in India in July 2017 to bring uniformity in tax rates across the country. Post implementation of GST, the rates of many goods and services got affected due to the revised tax rates.
The price of diesel and petrol, however, remained unaffected as the fuel products are currently exempted from the new tax regime. Diesel and other petroleum products are still being taxed as per the old tax regime, which includes both state and central government taxes. While the central tax remains constant across the states, the state-level tax on diesel varies from state to state. The respective states still have the right to decide the percentage of tax to be levied on the petroleum products.
Hence, the effect of GST on diesel price in Tamil Nadu and in other Indian states is nil for now. If diesel is brought under GST, its price will get affected based on the new tax rate. If the new tax is less than what is being charged now, the rate of diesel in Tamil Nadu will certainly come down.
Diesel Costs versus Petrol Costs in Tamil Nadu
The average price difference between petrol and diesel in Tamil Nadu is about Rs 10-11/Lt. The difference in price is mainly due to the difference in the VAT being levied on both the commodities.
Currently, the central excise duty on diesel is Rs. 15.33/Lt, whereas on petrol it is Rs. 19.48/Lt. Similarly, the VAT charged by Tamil Nadu government on diesel is 25%, while it is 34% on petrol.
Also Check Diesel Price in NearBy Cities of Tamil Nadu
|Diesel Price In Chennai||Diesel Price In Coimbatore||Diesel Price In Madurai|
|Diesel Price In Salem||Diesel Price In Trichy||Diesel Price In Erode|
|Diesel Price In Tirunelveli||Diesel Price In Vellore||Diesel Price In Tuticorin|
*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 Tamil Nadu
Oil prices drop again
On Monday, the prices of oil dropped to the same level where they were when OPEC+ announced that the oil output would be slashed by 1.2 million barrels per day from January. Immediately after that announcement, the prices had gained around 4%. But even after desperate attempts by OPEC+ to balance out the surplus in the first part of 2019, oil traders are more worried about the increasing problems in the global economy.
The concerns about the global economy are intensified by the fact that the British pound has reached its lowest in the past 18 months. While currencies like the Turkish lira and the Indian rupee have gained against the U.S. dollar, a few others have seen a drop in their value. Moreover, the trade war between China and the U.S. continues and shows no signs of an end. Also, the housing and the auto markets in the U.S. have started to slow down. The crude oil price instability can be attributed chiefly to these international factors.
11 December 2018
Fuel Prices Drop for the 5h Consecutive Day
There has been a drop in the prices of petrol and diesel for the 5th straight day. On Monday, after a drop of 16-17 paise per litre across the major cities in the country, the revised retail price of unbranded petrol in Delhi is Rs.77.56 per litre. The price of diesel dropped by 5-16 paise per litre and its new price in Delhi Rs.72.31.
The revised prices of per litre of petrol and diesel in Mumbai are Rs.83.07 and Rs.75.76 respectively. Likewise, in Chennai petrol is now being retailed at Rs.80.56 per litre and diesel is being sold at Rs.76.43 per liter.
In Kolkata, the new prices of per litre of petrol and diesel are Rs.79.49 and Rs.74.17 respectively. Whereas in Noida, petrol is being retailed at Rs.75.87 per litre and diesel is being retailed at Rs.70.52 per litre. As a result of the drop in Brent crude oil prices, it’s being estimated that the prices of petrol and diesel will continue to fall for a few more days. This is a great relief for the common man who has had to bear the sharp rise in the prices of fuels in the past few months.
13 November 2018
Diesel Prices Hiked by Rs.0.34 in Kolkata
Oil Marketing Companies (OMCs) hiked the prices of diesel by Rs.0.34 in Kolkata on Tuesday. This is the 11th consecutive day when the prices of diesel have been hiked in the country. With the hike on Tuesday, the entire Rs.2.50 which was reduced by the central government to control the steep rise in the fuel prices was wiped out. Of the Rs.2.50, Rs.1.50 was reduced on account of the excise duty cut while Re.1 was cut after the government asked public sector oil companies to subsidise the fuel.
As of Tuesday, the rates of diesel in the four metro cities of the country i.e Delhi, Mumbai, Chennai, and Kolkata were Rs.75.69, Rs.79.35, Rs.80.04, and Rs.77.65 respectively. The rates of diesel in Chennai as of Tuesday is at an all-time high. On the global front, Brent crude and US West Texas Intermediate rose on Tuesday. While Brent crude cost $81.05 per barrel, US West Texas Intermediate cost $71.90 per barrel.
It needs to be mentioned that diesel prices in the country have seen the fastest increase in rates since the daily price revision scheme was implemented in mid-June. The prices have increased by Rs.2.51 per litre in the last 10 days.
16 October 2018
Every Litre of Diesel Costs Rs.79.72 in Mumbai
The hike in the prices of petrol and diesel continued on Monday. While the rates of petrol were hiked by Rs.0.22 in Mumbai, diesel prices were hiked by Rs.0.32 per litre in the financial capital. As of Monday, every litre of diesel in the four metro cities of the country i.e., Delhi, Mumbai, Chennai, and Kolkata cost Rs.75.09, Rs.79.72, Rs.79.40, and Rs.76.94 respectively. The data was provided by the country’s largest fuel retailer Indian Oil Corporation (IOC). The rates of diesel are the cheapest in the national capital among all the states of the country as the state government charges low VAT on it.
It needs to be mentioned that petroleum products have not yet been included under the GST regime. Given this, the rates of petrol and diesel vary from state to state. With a steep rise in the prices of diesel being witnessed in the last few weeks, many states like Rajasthan, West Bengal, Karnataka, and Andhra Pradesh have of late cut down the taxes to provide relief to the common man.
3 October 2018
Karnataka Reduces Petrol and Diesel Prices by 2 Rupees
The Karnataka government cut petrol and diesel prices by Rs.2 per litre on Monday. Chief Minister HD Kumaraswamy said that reduction in fuel prices will give some relief to consumers. The cut in fuel rates comes after Andhra Pradesh, West Bengal and Rajasthan reduced fuel prices by Rs.2, Rs.1 and Rs.2.5 per litre respectively. However, petrol rates in some parts of Maharashtra breached Rs.90 a litre. Prices of petrol in as many as 11 cities in the State crosses Rs.90 per litre according to the update on Indian Oil Corporation (IOC) website. Per litre of petrol is being sold at Rs.91.25 in Parbhani, the highest rate in the country. Fuel prices in other major metro cities on Monday were hiked as well with petrol being sold at Rs.82.06 in Delhi, Rs.89.44 in Mumbai, Rs.83.91 in Kolkata and Rs.85.31 in Chennai. Similarly, diesel prices were hiked to stand at Rs.73.78 in Delhi, Rs.78.33 in Mumbai, Rs.75.63 in Kolkata and Rs.78 in Chennai. Fuel rates are unlikely to be reduced as the global crude oil rate continues to hover over $78 per barrel and the rupee has fallen to a new low against the benchmark US dollar.
19 September 2018
Increase in Diesel and Petrol Prices is Inevitable
Petrol and diesel prices have reached the highest level so far in the country. Many political parties and the media are condemning the government of Narendra Modi for a steep rise since it is liable for this condition. The production of petroleum is now stable at 36 -37 million tonne per year. It is changing from one year to another. It is not suggestively increasing. As the examining efforts to open new wells are extending whereas the current wells are falling. The efforts of the Government of Modi to take up investigative efforts for fresh wells will be resisted in many places.
The import of crude oil in India is now over 220 million tonne per year. It has been growing at 7%-8% during the last seven years. The usage of diesel and petrol is continually increasing that should be met through an increase in the import of petroleum in order to fabricate diesel and petrol in petroleum refineries. The segment of automobile has a great share of diesel and petrol usage in the country. No one is willing to restrict the usage of automobile to the possible extent.
11 September 2018
Petrol and Diesel Prices Increased in Four Metro Cities Today
State-owned oil marketing companies (OMCs) increased petrol and diesel prices across four metro cities of the country today. The new rates are applicable from 6:00 am on 13 August 2018. While in New Delhi, Mumbai and Chennai the petrol prices were increased by 9 paise per litre, in Kolkata it was raised by 8 paise. Diesel prices, on the other hand, were increased by 5 paise a litre across four metros of New Delhi, Mumbai, Kolkata and Chennai. Petrol is being sold at Rs.77.14 a litre in New Delhi, Rs.80.10 in Kolkata, Rs.80.14 in Chennai and Rs.84.58 in Mumbai. Diesel is being sold at Rs.68.72 a litre in New Delhi, Rs.71.56 in Kolkata, Rs.72.59 in Chennai and Rs.72.56 in Mumbai. Petrol and diesel prices are revised every day by oil companies under the dynamic fuel pricing mechanism and fix rates based on the global crude oil price and the currency exchange value of the US dollar over rupee.
14 August 2018
Petrol and Diesel Rates Hiked Today
State-run oil companies hiked petrol and diesel rates in four metro cities effective from 6:00 am on 3 August 2018. Petrol rates were increased by 7 paise per litre in New Delhi, Chennai and Mumbai while in Kolkata it was increased by 9 paise per litre. Diesel prices, on the other hand, were raised by 9 paise per litre in New Delhi, 10 paise in Chennai, 9 paise in Mumbai and 11 paise in Kolkata. Prices of petrol stand at Rs.76.50 a litre in New Delhi, Rs.79.46 in Chennai, Rs.83.94 in Mumbai and Rs.79.42 in Kolkata. Likewise, prices of diesel stand at Rs.68.02 in New Delhi, Rs.71.84 in Chennai, Rs.72.21 in Mumbai and Rs.70.80 in Kolkata. Petrol and diesel prices are revised on a daily basis by oil companies under the ‘Dynamic Fuel Pricing’ mechanism by including the global crude oil rate and the currency exchange rate of the US dollar over rupee.
6 August 2018
Diesel Costs Rs.68.43 in the National Capital
Even though global oil prices edged lower on Friday, Oil Marketing Companies (OMCs) in the country hiked diesel prices for the second successive day. In Delhi, every litre of diesel cost Rs.68.43 as stated by Indian Oil Corporation, the country’s largest fuel retailer. It needs to be mentioned that diesel rates in the national capital had touched its highest in May this year with every litre costing Rs.69.31. The prices of diesel in other metros of the country like Kolkata, Chennai, and Mumbai were Rs. 70.98, Rs.72.24 and Rs.72.61 respectively. It is noteworthy to mention that following the adoption of the daily revision of fuel prices scheme since mid-June 2017, prices of petrol and diesel are revised on a daily basis in the country.
16 July 2018
Check Diesel Rates Today
Diesel rates have also fallen today in the range of 10-14 paise a litre. After the daily revision today, diesel prices were down by 10 paise per litre in Kolkata, Delhi and Chennai respectively. In Mumbai, they were down by 14 paise per litre. In Delhi, Kolkata, Mumbai and Chennai, petrol rates are Rs.67.68 a litre, Rs.70.23 a litre, Rs.71.99 a litre and Rs.71.44 a litre respectively. Similarly, the prices of diesel in Agartala, Aizwal, Ambala, Bangalore, Bhopal, Bhubaneswar, Chandigarh, Dehradun, Gandhinagar and Gangtok are Rs.65.84 a litre, Rs.65.03 a litre, Rs.68.19 a litre, Rs.68.73 a litre, Rs.71.23 a litre, Rs.72.55 a litre, Rs.65.72 a litre, Rs.68.01 a litre, Rs.72.74 a litre and Rs.69.45 a litre respectively. In Delhi, diesel rates were reduced by Rs.1.52 a litre over the last 21 days. Each day, the pricing of diesel will take place under a system called dynamic fuel pricing. So, diesel rates may decrease or increase or remain unaffected based on the variations in crude oil rates and the exchange rate.
21 June 2018