Diesel Price In Telangana Today

Diesel price in Telangana today is computed based on the daily ‘Dynamic Fuel Pricing’ mechanism. You can check the current diesel price in Telangana, find today's diesel price and the quarterly price trend in Telangana. It may be noted that new diesel prices in Telangana are updated by oil marketing companies daily at 6:00 am IST.

Find out how diesel prices in Telangana are calculated and how it compares to other states. Also, find the current Rajasthan diesel price and primary factors which impact petrol prices in India.

More
  • Today's Diesel Price ( 15 Sep 2019 )
    ₹ 71.3
    Current Diesel Price Per Liter
    Compare Diesel Price in Telangana (Today & Yesterday)
    Today
    (15 Sep 2019)
    Yesterday
    (14 Sep 2019)
    Rate Change
    Diesel ( / litre) ₹ 71.3 ₹ 71.24 ₹ 0.06 ↑
    Diesel Price in Telangana - Last 10 Days Data
    Date Diesel ( / litre)
    15 Sep 2019 ₹ 71.3
    14 Sep 2019 ₹ 71.24
    13 Sep 2019 ₹ 71.14
    12 Sep 2019 ₹ 71.04
    11 Sep 2019 ₹ 70.99
    10 Sep 2019 ₹ 70.99
    09 Sep 2019 ₹ 70.93
    08 Sep 2019 ₹ 70.93
    07 Sep 2019 ₹ 70.93
    06 Sep 2019 ₹ 70.99

    Diesel Rate Trend

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    Diesel Price in Telangana

    Diesel is a widely used fuel. The price of diesel is linked with global factors such as crude oil prices and the exchange rate. All Indian states have different tax structures. For instance, diesel is taxed less in New Delhi compared to Telangana, which is the youngest state in the southern India with 31 districts. The local tax imposed on diesel in Telangana was 27% and the central excise duty on the fuel was 15.33 per litre as on 04 October 2017.

    Let’s make a comparative study of diesel prices in Telangana by considering the three prime cities, which include Hyderabad, the capital city, Warangal and Karimnagar. In Hyderabad, during the first two weeks of November 2017, the fuel rate moved in an increasing trend. On the opening day of October 2017, the fuel price was Rs.64.02 per litre, which diminished to Rs.61.79 per litre on the closing day of the month. The highest and lowest rates in the month were Rs.64.25 per litre and Rs.61.79 respectively. Refer the following table:

    Historical Diesel Prices in Hyderabad 2017(Price per litre)

    September August July June
    Opening day price Rs.62.06 Rs.60.38 Rs.58.08 Rs.58.72
    Closing day price Rs.63.95 Rs.61.98 Rs.60.45 Rs.58.17
    Highest rate Rs.64.00 Rs.62.35 Rs.60.45 Rs.58.72
    Lowest rate Rs.62,02 Rs.60.38 Rs.58.08 Rs.58.17

    The highest rate over the last five months was Rs.64.02 per litre whereas the lowest price was Rs.58.08 in Hyderabad. In June, as we can see from the table, prices are low due to dynamic fuel pricing. In July, prices have gained. In September, fuel prices were up by 2.96% in Hyderabad and by 2.58% in August. Yes, diesel rates will marginally vary among Hyderabad, Warangal and Karimnagar.

    How are Diesel Costs Revised in Telangana?

    Like other commodities, the diesel price is also revised. Global crude oil rates and the exchange rate are taken into consideration to revise the price. Currently, all oil marketing companies (OMCs) in India have been using the dynamic fuel pricing system, which was introduced in June 2017. What is dynamic fuel pricing? It is a fuel pricing mechanism to revise F uel Rates (Petrol Rates and Diesel Rates) on a daily basis in sync with crude oil rates and the exchange rate.

    Be advised to check the current diesel price in Telangana since it is varying every day since 16 June 2017. All state-run oil marketing companies – Bharat Petroleum, Hindustan Petroleum and Indian Oil – have been using dynamic fuel pricing that aligns consumers to market dynamics. It means consumers will pay the price, which is determined based on the fluctuations in the determinants. The system assures 100% transparency as far as fuel pricing is concerned.

    Quarterly Diesel Price Trend in Telangana between January and March 2019

    January February March
    Opening date price Rs.68.28/litre Rs.71.39/litre Rs.72.95/litre
    Closing date price Rs.71.58/litre Rs.72.80/litre Rs.72.06/litre
    Highest price Rs.71.79/litre recorded between 25th, 26th, 27th and 28th Rs.72.8/litre recorded on 28th Rs.73.52/litre recorded on 5th, 6th and 7th
    Lowest price Rs.67.7/litre recorded on 7th, 8th and 9th Rs.71.17/litre recorded on 5th and 6th Rs.72.06/litre recorded on 29th, 30th and 31st
    Trend Upward Upward Downward
    % Change 4.83% 1.97% -1.22%

    Quarterly Diesel Price Trend in Telangana between October and December 2018

    October November December
    Opening date price Rs.81.75 a litre Rs.80.31 a litre Rs.73.24 a litre
    Closing date price Rs.80.31 a litre Rs.73.77 a litre Rs.68.28 a litre
    Highest price Rs.81.92 a litre recorded on 2 October Rs.80.31 a litre recorded on 1 November Rs.73.24 a litre recorded on 1 December
    Lowest price Rs.79.72 a litre recorded on 6 October Rs.73.77 a litre recorded on 30 November Rs.68.28 a litre recorded on 31 December
    Trend Downwards Downwards Downwards
    % Change -1.76% -8.14% -6.77%

    Diesel Price Trend in Telangana between October and December 2018

    • On the opening day of October, the diesel price in Telangana stood at Rs.81.75 per litre, a record high on the back of a high trading crude oil in the international market.
    • State-owned oil companies fix diesel prices daily under the ‘Dynamic Fuel Pricing’ mechanism, which considers the 14-day average rate of crude oil along with the rupee-dollar exchange rate.
    • Diesel prices in Telangana continued to soar in the first week even as it touched the highest rate for the month at Rs.81.92 per litre.
    • Excise duty of Rs.1.50 per litre was reduced by the Centre, while it asked oil firms to absorb further Rs.1 per litre towards fuel subsidy, prompting fuel prices to decline.
    • By the end of the month, the diesel price in Telangana declined by 1.76% influenced by the cut in excise duty as well as due to a slight drop in oil prices in the global market.
    • On 1 November, diesel was priced at Rs.80.31 per litre, recording the month’s highest price in Telangana.
    • Crude oil prices were trading higher due to geopolitical tensions between the US and China over trade between the two countries.
    • On 30 November, diesel recorded its lowest price of the month when it was sold at Rs.73.77 per litre.
    • Overall, diesel prices in November declined by 8.14% attributed to the fall in crude oil prices in the international market.
    • The diesel rate in Telangana on 1 December stood at Rs.73.24 per litre, registering the highest price for the month.
    • With the decline in geopolitical tensions, crude oil was trading around $56 per barrel, down from $80 per barrel recorded early October.
    • This brought the diesel price in December to its lowest at Rs.68.28 per litre on 31 December in Telangana.
    • By the end of the month, the diesel price trend in Telangana declined by 6.77% on the back of a significant fall in crude oil prices along with a slight appreciation of the rupee over the US dollar.

    Quarterly Diesel Price Trend in Telangana between July and September 2018

    July August September
    Opening date price Rs.73.24 a litre Rs.73.76 a litre Rs.76.42 a litre
    Closing date price Rs.73.80 a litre Rs.76.42 a litre Rs.81.04 a litre
    Highest price Rs.74.58 a litre recorded on the 14th Rs.76.42 a litre recorded on the 31st Rs.81.04 a litre recorded on 28th, 29th and the 30th
    Lowest Price Rs.73.24 a litre recorded on the 1st Rs.73.76 a litre recorded on the 1st Rs.76.42 a litre recorded on the 1st and 2nd
    Trend Upward Upward Upward
    % Change +0.75% +3.61% +6.05%

    Diesel Price Trend in Telangana in July 2018

    • Similar to petrol prices, diesel prices are revised on a daily basis by State-owned oil companies based on the dynamic fuel pricing method.
    • Under this method, oil companies fix the selling price of diesel by taking into account the global crude oil price and the exchange rate of the rupee over the U.S. dollar.
    • On the 1st of July, the diesel price in Hyderabad, the capital city of Telangana, stood at Rs.73.24 per litre. This is the lowest diesel price in Telangana recorded during the course of the month.
    • Oil companies hiked diesel prices over the course of the first and second weeks to touch the highest diesel price in the state on the 14th when a litre of diesel was dispensed at Rs.74.58 a litre.
    • Diesel prices declined in the next couple of weeks but it didn’t breach the opening price of the month.
    • The closing diesel price in Telangana for the month of July stood at Rs.73.80 per litre, an incline of 56 paise as against the opening price.
    • The diesel price trend in Telangana in July grew by 0.75% owing to the marginal increase in crude oil prices in the international market.

    Diesel Price Trend in Telangana in August 2018

    • Diesel prices were reduced on the 1st of August by 4 paise as a litre of the fuel was sold at Rs.73.76 in Telangana - the lowest price recorded during the month.
    • During the first and second weeks, diesel prices continued to rise due to geopolitical tensions between the U.S. and Iran.
    • The U.S. administration pulled out of the nuclear deal with Iran which led to a decline in the supply of crude oil in the market.
    • This prompted the global crude oil price per barrel to increase leading to the rise in petrol and diesel prices in the country.
    • There was no let up in the rise in crude oil prices as diesel prices in Telangana and other states were relentlessly increased during the course of the month.
    • By the end of the month, diesel rose to touch the highest price on the 31st when a litre of diesel was sold at Rs.76.42.
    • The diesel price trend in Telangana in August inclined by 3.61% primarily due to the rising geopolitical tensions between the U.S. and Iran.

    Diesel Price Trend in Telangana in September 2018

    • The diesel price in Telangana on the 1st of September stood at Rs.76.42 per litre, which was kept unchanged the next day as well. This was also the lowest price registered during the course of the month.
    • Diesel rates continued to soar during the first and second weeks even as crude oil prices increased in the international market.
    • Certain states such as Rajasthan, Karnataka, Andhra Pradesh and West Bengal announced a cut in local sales tax or VAT offering some relief to consumers of those states.
    • The global crude oil price inclined to touch a four-year high of $80 per barrel and the rupee fell to its record low of Rs.72 over the U.S. dollar.
    • Both these factors influenced the significant rise in petrol and diesel prices across the country as it touched record levels over the course of the fourth week.
    • The highest diesel prices in Telangana during the month of September was Rs.81.04 per litre registered on the 28th and was kept unchanged until the end of the month.
    • Overall, diesel prices in Telangana during the month of September grew sharply by 6.05% mainly due to the steep incline in crude oil prices and the record drop in the exchange rate of the Indian currency over the U.S. currency.

    Quarterly Diesel Price Trend in Telangana Between April and June 2018

    April May June
    Opening date price Rs.70.16 a litre Rs.71.63 a litre Rs.75.26 a litre
    Closing date price Rs.71.63 a litre Rs.75.31 a litre Rs.73.24 a litre
    Highest price Rs.71.67 a litre registered on 24th Rs.75.38 a litre registered on 29th Rs.75.26 a litre registered on 1st
    Lowest price Rs.70.16 a litre registered on 1st Rs.71.63 a litre registered from 1st to 11th Rs.73.24 a litre registered from 27th to 30th
    Trend Upward Upward Downward
    %Change +2.10% +5.14% -2.68%

    Diesel Price Trend in Telangana in April 2018

    • On 1 April 2018, the diesel price in Hyderabad, the capital city of Telangana, stood at Rs.70.16 a litre – the lowest price for the month.
    • State-run oil companies fix diesel prices on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism. Prices are fixed based on the international crude oil price and the currency exchange rate.
    • Diesel prices inclined marginally over the first and second week as oil prices reflected an upward trend.
    • By mid-April, prices of diesel in Telangana rose by 27 paise a litre influenced by the rise in crude oil rate.
    • The highest diesel prices registered in the month stood at Rs.71.63 per litre on the 24th.
    • Overall, diesel prices in the first month of the quarter grew marginally by 2.10%, largely impacted by the rise in oil prices.

    Diesel Price Trend in Telangana in May 2018

    • On the opening day of May, diesel was sold at Rs.71.63 a litre in Hyderabad unchanged from the preceding day.
    • Oil companies kept the prices unchanged until the 11th of the month as oil prices were stable in the international market.
    • From the 12th onwards, fuel companies revised diesel prices in accordance with the international oil prices.
    • Crude oil prices were on a significant rise in the backdrop of a possible shortage in supply as the US administration decided to pull out of the nuclear deal with Iran.
    • On fears of a possible shortage in supply, diesel prices rose to touch an all-time high of Rs.71.63 per litre on the 29th of the month.
    • Diesel prices grew considerably during the month with an upward trend of 5.14%, impacted by the rise in oil prices in the global market.

    Diesel Price Trend in Telangana in June 2018

    • On 1st of the month, diesel prices were reduced by 5 paise a litre as oil prices were steady with not many gains in the market.
    • With oil prices on the rise, the members of the Organisation of Petroleum Exporting Countries (OPEC) and its key ally Russia decided to meet on 22 June to agree upon a plan to tackle the high oil price.
    • Diesel prices during the first and second week continued to slide and by mid-month prices came down by Rs.1.51 a litre.
    • The OPEC and Russia agreed to increase production of oil to tackle the significant rise in oil rates across the globe.
    • Oil prices receded on the backdrop of a possible increase in output by the OPEC and Russia.
    • Prices continued to decline significantly posting the lowest for the month on the 27th with diesel being sold at Rs.73.24 a litre in Hyderabad.
    • During the last month of the quarter, diesel prices in Telangana declined considerably by 2.68%, largely due to the increase in output and decline in geopolitical tensions.

    Trend in Diesel Price in Telangana between January 2018 and March 2018

    January February March
    Opening date price Rs.64.92 a litre Rs.69.63 a litre Rs.67.68 a litre
    Closing date price Rs.69.53 a litre Rs.67.50 a litre Rs.69.97 a litre
    Highest rate Rs.69.53 a litre registered on 31st Rs.69.75 a litre registered on 6th and 7th Rs.69.97 a litre registered on 31st
    Lowest rate Rs.64.92 a litre recorded on 1st Rs.67.49 a litre registered on 25th Rs.67.68 a litre registered on 1st
    Trend Upward Downward Upward
    %Change +7.13% -3.05% +3.38%

    Trend in Diesel Price in Telangana in January 2018

    • You can notice a price difference of 12 paise a litre between the diesel rates offered in Hyderabad, the capital city of Telangana; and Warangal, the second biggest city in Telangana.
    • To make it clear, the city of Hyderabad offered a price range of Rs.64.92 a litre on 1st January whereas the city of Warangal offered a price range of Rs.64.80 a litre on the same date.
    • The disparities in the price offers may be ascribed to voyage expenses, which tend to change within the cities of the same state.
    • Apart from voyage expenses, other cost components like crude oil costs, taxes, pollution cess, the profit ratio and expenses of Oil Marketing Companies will have a direct impact on fuel prices.
    • In January 2018, no cost elements were projected to revise except crude oil costs, which are affected by climate conditions, the current and expected demand for crude oil, etc.
    • Crude oil sustained a reasonable amount of demand this month and thus, the commodity accumulated the price.
    • By the end of the month, a 7.13% rise in the diesel rate across the state was declared by Indian Oil Corporations Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited.

    Trend in Diesel Price in Telangana in February 2018

    • The price offer was released at Rs.69.63 a litre in Hyderabad on 1st February. It stood at Rs.69.48 a litre in Warangal. No major price difference was observed even though Arun Jaitley, Finance Minister, unveiled the budget for the financial year 2018-2019.
    • A price fall in diesel prices was anticipated by fuel consumers. Fuel prices were not impacted since the finance minister made no changes in the tax slab for diesel.
    • In fact, you can see the diesel rate moving upwards during the first 6-7 days. After that, it moved downwards because of the fluctuations in the exchange rate.
    • In February 2018, you can observe a 3.05% downfall primarily due to crude oil costs, which fell by a big margin in the month.
    • The demand pattern plays a vital role in fixing the price for unrefined oil. There was a steep fall in the demand for the commodity.
    • Thus, unlike the previous month, diesel rates in all towns of Telangana were down this month. Other states such as Maharashtra, Karnataka, Uttar Pradesh and Madhya Pradesh have also produced the same result.

    Trend in Diesel Price in Telangana in March 2018

    • Whenever the Central Government reduces the excise duty, OMCs will also reduce the fuel price. If the government increases the central tax, OMCs will increase the diesel rate accordingly.
    • The excise duty in the quarter was retained unaltered at Rs.15.33 on diesel per litre. Similarly, the State Government of Telangana levied the Value-added Tax (VAT) at 25.93%.
    • It can be inferred that the domestic factors have no impact on a 7.77% rise in the diesel rate between January 2018 and March 2018. It was caused by the accelerated crude oil rates and a devalued USD.
    • In March, the highest fuel rate was booked at Rs.69.97 a litre. It was also the highest rate for the entire three months.
    • The lowest diesel rate stood at Rs.64.92 a litre for the month of January, Rs.67.49 a litre for the month of February, and Rs.67.68 a litre for the month of March.

    Note: Crude oil is of two categories: a) WTI and Brent. The average price of these categories shall be taken into account to set and reset diesel rates.

    How do I Check the Current Diesel Price in Telangana?

    Consumers in Telangana have three options to check the latest price. The first option is to download the mobile applications designed all oil marketing brands. The mobile application designed by Bharat Petroleum is called SmartDrive, the application created by Hindustan Petroleum is called My HPCL and the application designed by Indian Oil is called Fuet@IOC. Consumers can also make use of SMS and customer care services offered by OMCs.

    State Levies on Diesel – A Comparison (As on 04 October 2017)

    Telangana Maharashtra Tamil Nadu Uttar Pradesh
    VAT on diesel 27% 28.41% 25% 20.19%
    VAT on petrol 35.20% 47.64% 34% 32.45%

    How are Diesel Rates in Telangana Computed?

    The following table illustrates the Price Structure of Diesel in Telangana:

    Diesel Price
    Crude Oil Prices including freight XXXX
    Crude Oil Cost per litre XXXX
    OMC overheads XXXX
    Refinery Transfer Price and processing overheads XXXX
    Transportation costs, OMC margin, freight XXXX
    Fuel Price after Refining XXXX
    The Central Tax on Diesel (Excise Duty) 15.33 per litre as on 4 October 2017
    Price charged to dealers before Value-added Tax XXXX
    Dealer retail cost calculation XXXX
    Commission charged by dealers XXXX
    VAT 27% and 25p pollution cess XXXX
    Retail Selling Price of Diesel per litre XXXX

    Components of Diesel Costs in Telangana

    The following are the components of Diesel Rates in Telangana:

    • The cost of crude oil is paid by OMCs.
    • Refinery Transfer Price (RTP) is charged by refineries.
    • Diesel is taxed by the state and central governments.
    • OMCs add their profit margin to the total overheads incurred by them.
    • Dealers charge commission for supplying the fuel to end customers.

    Influencers of Diesel Price in Telangana

    More than 50% of the retail selling price goes towards the central and state taxes. In October 2017, the excise duty on diesel was decreased to Rs.15.33 per litre from 17.33 per litre. In the same month, the local tax was reduced by Maharashtra, Gujarat, Madhya Pradesh and Uttarkhand. So, the revision of taxes affect the fuel price. The exchange rate of INR/USD is another influencer. This currency pair is highly fickle in nature. The value of the INR against the USD impacts the crude oil prices that in turn affect diesel prices in Telangana. The crude oil price is the biggest influencer.

    The Reserve Bank of India fixes the exchange rate of the INR/USD currency pair. The most common influencers of the exchange rate consist of interest rate parity, interest rates, balance of payment, inflation rate, import and export ratio and the overall debt. When the INR gains against the USD, then the cost of crude oil will be cheaper. When the INR falls against the USD, then the cost of crude oil will increase. The influencers of crude oil prices include global political movements, the demand for oil, reserves, and weather conditions in oil producing countries.

    Does GST Impact Diesel Price in Telangana?

    GST does not affect diesel prices in Telangana as diesel does not fall under the purview of GST, which has been imposed on various types of commodities and goods. Currently, the GST rates have fixed at 5%, 12%, 18% and 28%. The compliance cost for industry stakeholders will be doubled if GST is imposed on diesel.

    Also Check: Diesel Price in Hyderabad

    Also Check Diesel Price in NearBy Cities of Telangana

    *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.

    Apply For A Fuel Credit Card – Reduce Your Petrol Expenses

    News About Diesel Price In Telangana

    • Diesel Prices Across the Major Cities Kept Constant

      On Wednesday, Oil Marketing Companies (OMCs) decided to keep diesel prices across the major cities of the country constant. Following Wednesday’s revision in the prices, every litre of diesel cost Rs.66.24 in New Delhi. In the commercial capital of the country i.e., Mumbai consumers were required to pay Rs.69.43 for a litre. In the eastern and southern metropolitan cities i.e., Kolkata and Chennai, OMCs charged Rs.68.31 and Rs.69.96 respectively. In cities like Noida and Gurugram, a litre of diesel was retailed for Rs.65.34 and Rs.65.43 on Wednesday.

      In the international oil market, the rates of crude oil stabilized on Wednesday after the rates fell by over 3 percent overnight. The futures of Brent crude oil were up by 16 cents or 1.3% since the last close to be trading for $64.51 per barrel. It needs to be mentioned here that Morgan Stanley earlier in the month had cut the long-term Brent crude prediction by $5 per barrel stating that the oil market is balanced in 2019 given the fact the OPEC and Russia agreed to extend supply cut for a longer duration. In India, which imports 80 percent of its total crude requirements the rates of fuel were dependent on international oil prices on a 15-day average and the value of rupee against the US dollar.

      18 July 2019

    • Diesel Prices Slashed by 9-10 paise per litre on Monday

      State-owned Oil Marketing Companies (OMCs) on Monday cut the rates of diesel by 9 – 10 paise per litre across all the metropolitan cities of the country. Following the revision of the prices, every litre of diesel was retailed for Rs.63.84 in New Delhi while in Mumbai, the commercial capital of the country consumers had to pay Rs.66.93 per litre. In Kolkata and Chennai, every litre of diesel was retailed for Rs.65.76 and Rs.67.52 respectively. It needs to be mentioned here that the rates of diesel were cut by OMCs for the fifth consecutive day on Monday.

      While the rates of fuel fell in the country, crude oil rose in the international oil market. The spike in the prices came after US Secretary of State Mike Pompeo stated that Washington will take all steps necessary to guarantee safe navigation in the Middle East. It is noteworthy to mention here that tensions had mounted following the attack on tankers last week. The futures of Brent crude oil and US West Texas Intermediate (WTI) rose by 27 cents and 18 cents respectively. They were trading at $62.28 and $52.69 dollars per barrel. The rates charged for fuel in the country are dependent on the international oil prices on a 15-day average and the value of rupee against the US dollar.

      18 June 2019

    • OMCs Hike Petrol, Diesel Prices in the Country after LS Polls Conclude

      The rates of petrol and diesel in the country have been hiked by Oil Marketing Companies (OMCs) a day after the Lok Sabha polls came to an end. On Monday, the prices of petrol were increased by 8-10 paise while diesel prices saw a hike of 15-16 paise per litre. In the national capital, every litre of petrol was retailed for Rs.71.12 while consumers in Mumbai had to shell Rs.76.73 for one litre. In the other two metropolitan cities i.e., Kolkata and Chennai, every litre of petrol cost Rs.73.19 and Rs.69.88 respectively. As of diesel, denizens residing in New Delhi had to pay Rs.66.11 for a litre. In Mumbai, Kolkata, and Chennai, the rates charged by OMCs for a litre of diesel were Rs.69.27, Rs.67.86, and Rs.69.88 respectively.

      The rise in the prices of both petrol and diesel was accounted to the increase in crude oil prices. It needs to be mentioned here that the rates of fuel are dependent on the global oil prices and the value of rupee against the US dollar. The reason behind it is that India imports 80% of its total oil requirements.

      22 May 2019

    • Venezuelan Sanctions, Opec Output Cut Prompts Asia’s Sour Crude Prices Above Brent

      Amid U.S. sanctions on Venezuela’s oil company and production cuts by OPEC, Middle East oil benchmarks Dubai and DME Oman have inclined above prices for international benchmark Brent Crude Oil Futures. Mainly produced in the Middle East, Canada and Latin America, sour crudes have a high Sulphur content and are usually cheaper than Brent Crude Oil, the benchmark for low-Sulphur oil in Atlantic Basin. However, Dubai spot prices and DME Oman Crude Futures for April have been trading higher than Brent at Asia’s market close since the beginning of February. Sanctions on Venezuela’s oil firm has brought about a sudden halt of crude oil to the U.S. last month, prompting strong pull for medium and heavy sour crude from other locations. Additionally, production cuts by OPEC and Russia has influenced the rise in sour crude prices.

      12 February 2019

    • Fuel Prices Continue to Fall, The Price of Petrol Stands at Rs 78.43 per Litre in Mumbai

      As of today, petrol is being sold at Rs.78.43 per litre and the price of diesel stands at Rs.70.89 per litre. Meanwhile, petrol prices in Kolkata, Chennai, and New Delhi is recorded at Rs.74.88, Rs.75.62, and Rs.72.87 per litre, respectively. On the other hand, the price of diesel stood at Rs 67.72, Rs 69.57, Rs 71.52 per litre in New Delhi, Kolkata, and Chennai, respectively. According to the Indian Oil Corp data, fuel prices in India is declining for the ninth consecutive session. Global crude oil prices as well has lost nearly 30% from the peak of $86.70 a barrel hit which was recorded on October 3.

      3 December 2018

    • Brent and WTI Crude Oil Prices

      The export of petroleum from Iran is decreasing at a speed that is higher than the analysis of the experts prior to the prescheduled sanctions of the United States of America on the oil segment of the nation on 4 November. It has been predicted by the market experts that the cost of crude oil will surpass the $100 per barrel since the 3rd biggest OPEC oil exporter observes the customers of OPEC go away. The cost of Brent crude has surpassed the $80 per barrel and recorded its price since 2014. While WTI unrefined oil increased by 24%, the benchmark commodity was also up by $26.6 per barrel till date.

      Global head of commodities for Goldman Sachs, Jeff Currie, on Thursday, voiced cynicism about the prediction of crude oil prices. In the first week of October 2018, the crude oil exports from Iran was 1.1 million barrels per day. It was $1.6 million barrels a day in September and 2.6 million barrels a day.

      17 October 2018

    • Diesel in Mumbai costs Rs.79.72 per litre

      As Oil Marketing Companies (OMCs) continued to increase the prices of petrol and diesel in the country, the rate of diesel in Mumbai reached Rs.79.72 per litre. On Monday, the rates of diesel were hiked by Rs.0.30 in the country as per a price notification of a state-owned oil firm. While the rates of diesel were closing in on the Rs.80 mark in Mumbai, in Delhi the rates are at an all-time high costing Rs.75.09 per litre. Consumers buying a litre of diesel for their vehicles needed to shell out Rs.79.72 at Indian Oil Corporation outlets and Rs.79.79 at Hindustan Petroleum Corporation Limited outlets in Mumbai. The rates of diesel have increased by Rs.6.37 in the country since mid-August. The increase is the most in any six weeks following the adoption of daily price revision system by the Oil Marketing Companies in June last year. On the global front, the rates of Brent crude oil rose to its highest since November 2014 on Monday. The cost for every barrel of Brent crude rose to $83.27 from $71 recorded five weeks ago.

      3 October 2018

    • Diesel Prices Turning into a Massive Worry for the Narendra Modi Government

      Up until recently, India was known as the fastest growing economy in the world, but the current situation has caused the government to rethink everything. Fuel prices have been on the rise and the rupee has turned into the weakest performer in Asia and is falling sharply against the dollar. The government, which has decided against tax cuts on fuel is being pressured by the opposition as well as the people to put a stop to fuel prices from climbing further.

      On Monday, diesel prices were close to Rs.80 per litre in Mumbai with other metro cities like Kolkata and Chennai seeing prices hold at Rs.75 per litre range. The falling rupee, which seemed to have recovered, started on the free fall and it is turning into a major concern for the government.

      21 September 2018

    • Government Unlikely to Reduce Taxes as Massive Tax Loss Predicted

      On the 10th of September, several opposition parties including the Indian National Congress (INC), Nationalist Congress Party (NCP), Dravida Munnetra Kazhagam (DMK) among many others organised a bandh protesting the rise in fuel prices while urging the NDA government to cut taxes on fuel.

      However, the government has decided not to do so despite significant flak it is receiving as it has predicted a Rs.30,000 crore loss in revenue. This loss, an official from the government, said will occur if fuel prices are cut by as little as Rs.2 per litre.

      Rebuffing against the opposition, the NDA administration blamed a variety of external factors, mainly the rise of crude oil prices over the last few weeks. The official statement further stated that over 40% of the revenue collected will be funneled into various states, and cutting the VAT would have a significant impact on a number of administration as well.

      Petroleum Minister Dharmendra Pradhan has held meetings with BJP President Amit Shah concluding that the crude prices right now are fuelling current account deficit, and the cutting of taxes will increase the deficit and also bring out a significant loss for the government.

      12 September 2018

    • Petrol and Diesel Rates Kept Unchanged

      State-owned fuel companies kept petrol and diesel prices unchanged today across four metro cities of the country. As per India’s largest oil retailer, Indian Oil petrol is being sold at Rs.76.31 per litre in New Delhi, Rs.83.76 in Mumbai, Rs.79.20 in Kolkata and Rs.79.26 in Chennai. Diesel prices stand at Rs.67.82 in New Delhi, while in Kolkata, Mumbai and Chennai petrol are available at Rs.70.58, Rs.72.00 and Rs.71.62 a litre respectively. The prices are effective from 6:00 am from 1 August 2018. Fuel companies such as Bharat Petroleum, Hindustan Petroleum and Indian Oil revise petrol and diesel prices on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism by including the global crude oil rate and the currency exchange value of the US dollar over rupee.

      6 August 2018

    Diesel Price In Metro Cities
    Diesel Price In Other Capitals
    Diesel Price In Other Major Cities
    Diesel Price In States

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.