Diesel Price In Udupi Today

  • Today's Diesel Price ( 15 Sep 2019 )
    ₹ 67.18
    Current Diesel Price Per Liter
    Compare Diesel Price in Udupi (Today & Yesterday)
    Today
    (15 Sep 2019)
    Yesterday
    (14 Sep 2019)
    Rate Change
    Diesel ( / litre) ₹ 67.18 ₹ 67.12 ₹ 0.06 ↑
    Diesel Price in Udupi - Last 10 Days Data
    Date Diesel ( / litre)
    15 Sep 2019 ₹ 67.18
    14 Sep 2019 ₹ 67.12
    13 Sep 2019 ₹ 67.03
    12 Sep 2019 ₹ 66.93
    11 Sep 2019 ₹ 66.88
    10 Sep 2019 ₹ 66.88
    09 Sep 2019 ₹ 66.83
    08 Sep 2019 ₹ 66.83
    07 Sep 2019 ₹ 66.83
    06 Sep 2019 ₹ 66.88

    Diesel Rate Trend

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    Diesel Price in Udupi

    Are you a diesel buyer from Udupi? If yes, what type of customer you are? Are you a retail customer or a wholesale buyer? You may sometimes ignore the changes in the diesel rates in Udupi if you are a retail buyer. If you are a wholesale buyer, you may be interested to know the actual and projected diesel price trends. Here goes a complete analysis for you.

    The diesel rate in Udupi offered on 11 April 2018 (latest date) was Rs.65.68 a litre. It steadily grew during the first 10 days of the month. At the end of March 2018, the fuel price was recorded at Rs.74.11 per litre. It was Rs.62.93 a litre at the beginning of the month. In February 2018, the diesel rate in Udupi grew 7.43% to Rs.72.19 a litre. This is the historical trend.

    Also Know: Diesel Price in Bangalore

    Can I Predict the Trend in Diesel Price in Udupi?

    This is absolutely a tough question to retort. The trend is based global and domestic elements. But, you can expect a marginal hike in the future. The current fuel price in Udupi is 8-9% higher than what it was 6 months ago. The excise duty and the VAT on diesel may be modified whenever required. So, comprehending the future trend is a daunting task for market watchers.

    Excise Duty on Diesel in Udupi

    The excise duty is one of the prime elements in the Retail Selling Price of diesel. It is charged commonly across the nation. In Udupi, the excise duty on petrol, in the month of November 2014, was Rs.9.20 a litre. In the month of August 2017, it stood at Rs.21.48 a litre. Further, the Central Government reduced it to Rs.19.48 a litre in the month of February 2018.

    What Type of Fuel Pricing System is Used in Udupi Today?

    Today, state-owned fuel companies such as Bharat Petroleum (BPCL), Indian Oil (IOCL) and Hindustan Petroleum (HPCL) shall be reviewing the RSP of diesel in tandem with crude oil rates and the Dollar-Rupee conversion rate regularly. Today’s diesel price in Udupi may not be the same tomorrow. It may rise or decline. The system of daily price revision is called ‘Dynamic Fuel Pricing.’ It was introduced in India in the month of June last year.

    Will the Move Benefit the Industry Stakeholders? Yes!

    Have you ever faced the issue of stock over the last 8-9 months? The answer should be ‘NO.’ Since the fuel price is getting revised each day, fuel companies are uninterruptedly distributing diesel to consumers in the city. Consumers can envision complete transparency with regard to the revision of fuel rates. This is a key benefit they will get from dynamic fuel pricing, which also helps fuel corporations in several ways. Under dynamic fuel pricing, the Indian OMCs can deteriorate administration expenses, augment their overall business results, strike a balance between incomes and expenses, and manage working capital intelligently.

    Smart Ways to Obtain Today’s Diesel Price in Udupi

    The consumers of Indian Oil are recommended to download its mobile application called ‘Fuel@IOC’ to instantly get the latest fuel price. Similarly, the consumers of Bharat Petroleum are advised to download the mobile application called ‘SmartDrive.’ If you are willing to get the fuel price offered at Hindustan Petroleum, download the mobile application called ‘My HPCL.’

    You can also make use of SMS services. To obtain today’s diesel rate in Udupi, just type RSP, give a space, type the dealer code and send to 9224992249 if you are a customer of IOCL. The consumers of BPCL should follow the same process, but the SMS request should be sent to 9223112222. If you are a customer of HPCL, type the same text and send it to 9222201122. Fuel companies will respond you instantaneously.

    Price Structure of Diesel in Udupi

    Cost components Diesel rate computation (As of 3 February 2018)
       
    Costs of crude oil in overseas markets $65, which is equivalent to Rs.4,200
    1 barrel 159 litres
    A litre of Unrefined Oil Costs (A) Rs.26.40 (roughly)
       
    OMC Expenses  
    RTP, entry taxes, landing expenditures, running overheads Rs.7.5 a litre
    Transportation expenditures, profit ratio of OMCs, freight expenses Rs.2.87 a litre
    Cost of Fuel after purifying (B) Rs.36.78 a litre
       
    Excise duty including road cess levied by the Government of India Rs.15.33 a litre
    Dealer Price (C) Rs.52.12 a litre
       
    Commission paid to diesel dealers in Udupi Rs.2.51 a litre
    Fuel Price prior to VAT Rs.54.62 a litre
       
    VAT in Karnataka 18.25% Rs.9.96 a litre
    Diesel Price in Udupi Rs.65 a litre (roughly)

    Forces Impacting Current Fuel Price in Udupi

    The market price of unrefined oil, the dollar-rupee exchange rate and taxes will directly impact the diesel rate in Udupi. How? The crude oil cost jumped to $65 a barrel in April 2018. One year ago, it was below $4 a barrel. Needless to say, it has been an unusual trudge and pushed the fuel rate in the city to Rs.66 a litre. Fuel companies tend to reset their offerings based on the movements in crude oil costs.

    The exchange is another influencer. The exchange rate of the greenback against the INR was Rs.65.21 on 11 April 2018. It stood at Rs.65.11 at the end of March 2018 and Rs.65.21 at the end of February 2018. The USD/INR exchange rate was Rs.63.50 towards the end of January 2018. The greenback has appreciated against the INR over the last three months. It makes a big difference to the market value of crude oil since crude oil is globally retailed.

    GST versus Diesel Price in Udupi

    GST, a multi-phase tax system, has not been imposed on the entire oil segment in the country. The players in the industry are overburdened if the GST is implemented to the industry. The cost of compliance will be doubled. Oil Minister recently said that the people across the country are demanding to bring diesel under the GST and the Oil Ministry requested the GST Committee to enforce the same. Will it happen? The rollout of the GST on diesel will bring down the cash inflows of the Central Government at the current tax slabs. Therefore, the Committee has to take a wise decision.

    Also Check Diesel Price in NearBy Cities of Udupi

    Diesel Price In Belgaum Diesel Price In Shimoga Diesel Price In Mysore Diesel Price In Gulbarga
    Diesel Price In Kozhikode Diesel Price In Coimbatore Diesel Price In Mangalore Diesel Price In Bellary

    *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 Udupi Today

    • Diesel prices remain constant across the major cities of the country

      State-run Oil Marketing Companies (OMCs) on Wednesday decided to keep the rates of diesel constant in the country. It needs to be mentioned here that the prices of diesel were hiked across the major cities on both Monday and Tuesday. Following Wednesday’s revision in the prices, every litre of diesel was retailed for Rs.66.49 in the national capital. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai, consumers were required to shell out Rs.69.99, Rs.68.48, and Rs.70.23 per litre respectively. In non-metro cities like Noida and Gurugram, the rates charged by OMCs for a litre were Rs.65.55 and Rs.65.64 respectively.

      In the international oil market, crude oil prices shot up on Wednesday. The rates increased by more than 1 percent after an industry group reported that US stockpiles fell for the fourth week in a row. The futures of Brent crude oil were up by 69 cents or 1.1 percent since the last close to be trading at $64.85 per barrel. It is noteworthy to mention here that last week Morgan Stanley cut its long-term Brent crude prediction by $5 per barrel stating that the oil market was balanced in 2019 after OPEC and Russia agreed to extend their supply cut by longer than what was expected. The rates charged for fuel in the country by OMCs are dependent on international crude oil prices and the rupee-US dollar exchange rate. This is because India imports 80 percent of the total crude oil requirement.

      15 July 2019

    • Oil Companies Want Cut in Cess on Production

      Amid tensions between the US and Iran which is keeping the country’s oil and gas industry on tenterhooks, the stakeholders are looking forward to measures from the government in the upcoming budget. Some of the demands by the stakeholders are looking forward includes rationalisation of cess, increase in fuel subsidy, natural and gas products to be brought under the ambit of GST, among others. At the current crude oil prices, the ad valorem cess of 20% limits the realisations and cash accruals of upstream companies as compared to the earlier fixed cess per MT. Also, one of the primary demands of the oil industry has been the exemption from the levy of GST on exploration activities and the sector has been demanding the cut in Minimum Alternate Tax (MAT) rate for exploration and production operations, which at nearly 20% of the book profits, is a major deterrent for investment. So, the industry insiders are of the impression that it would enable the government to clarify the eligibility for a tax holiday under Section 80-1B of the Act. Another demand from the industry is the definition of ‘mineral oil’ which would include natural gas retrospectively, which has been a long-running demand.

      Also, the industry is demanding that natural gas and other four petroleum products be brought under the ambit of the GST to help free-flow of credit and avoid stranded taxes. However, there has been a lot of resistance from states as it could impact their revenue.

      27 June 2019

    • Petrol Prices Hiked by 10 Paise Today

      State-owned Oil Marketing Companies (OMCs) increased petrol prices today while diesel rates were kept unchanged across major metro cities of the country. OMCs hiked petrol prices by 10-11 paise per litre. After the revision in prices, a litre of petrol in Delhi costs Rs.71.77, up by 10 paise compared to yesterday’s price of Rs.71.67 per litre. Diesel in Delhi costs Rs.66.64 per litre, unchanged compared to yesterday’s price. Fuel prices in Delhi are lower compared to other metro cities and some state capitals due to lower local sales tax. In the financial capital of Mumbai, petrol is available at Rs.73.83 per litre, while diesel costs Rs.69.83 per litre. Similarly, in Kolkata, the price of petrol is Rs.73.83 per litre, up by 10 paise over yesterday’s rate, while diesel in Kolkata costs Rs.68.40 per litre, no change from yesterday’s price. In Chennai, petrol is being retailed at Rs.74.50 per litre, an increase of 11 paise compared to yesterday’s price, while diesel prices remain unchanged. New prices of petrol and diesel are effective from 6:00 am IST and may differ between cities and fuel stations due to local sales tax and transportation costs.  

      Fuel prices in India are determined by OMCs based on the daily dynamic fuel pricing mechanism by considering the 15-day average price of crude oil and the exchange rate of the rupee over the US dollar. On Monday, in the international oil market, crude oil prices remained stable amid ongoing supply cuts by the Organisation of Petroleum Exporting Countries (OPEC), despite market on the edge amid trade tensions betwee the US and China. International benchmark Brent crude oil futures were trading at $68.79 per barrel, inclining by 10 cents or 0.2% compared to its previous close. 

      28 May 2019

    • Diesel costs Rs.62.66 per litre in Delhi

      Every litre of diesel in the national capital was sold for Rs.62.66 on Wednesday. It needs to be mentioned here that rates of diesel were not reduced for the first time in the last few days across all the four metro cities of the country. In Mumbai, Kolkata, and Chennai, consumers had to pay Rs.65.56, Rs.64.42, and  Rs.66.14 respectively as per the information made available on the Indian Oil Corporation website.

      It is noteworthy to mention here that IOCL is allowing consumers to get the latest indicative fuel prices in any city by sending an SMS to 9224992249 or by simply logging into the IOCL app.

      On the global front, crude futures of both Brent crude and WTI spot crude fell on Wednesday. At 0218 GMT, Brent crude was trading at 53.65 US dollars per barrel while WTI spot crude oil was trading at 45.34 US dollars per barrel.

      2 January 2019

    • Food Delivery Companies, Ola and Uber Affected by Rise in Fuel Prices

      The prices of petrol and diesel have affected each and every person who rely on private transport for travel in a city. The fuel price hike has hit Mumbai, Chennai, Kolkata and Delhi the most apart from Hyderabad, Bangalore and other major cities. Petrol is priced at an average of Rs.82.72. Diesel is touched a new high and is being sold at Rs.75.69 in Delhi.

      The middle class are going through a great difficulty but the people who are really struggling due to the price hike are the delivery executives of food delivery companies and also cab drivers. Delivery boys for Zomato or Swiggy depend on petrol and diesel to travel. According to sources from YourStory, to earn Rs.1500 to Rs.2000 a day they start by working from 5am to 1am. To recover the money spent on petrol before, delivery executives would take a certain number of food deliveries based on their commission. Now, they need to make double that number to compensate for money spent on petrol.

      Similarly with cabs who depend on diesel. Drivers for Uber and Ola are having a great difficulty in retaining their daily earnings due to the increased expenditure on diesel which has increased by 30% since April, 2018. In Bangalore, petrol prices have seen an increase by Rs.7.31 since April and price of diesel has increased by Rs.9.62 per litre.

      23 October 2018

    • Diesel Prices to Soar in Tandem with Petroleum Rates

      The week began with an upward trend with diesel price reaching an all-time high on Monday, 24 September 2018. Diesel prices increased today by 5 paise per litre at Rs.74.02 in Delhi, the national capital. They were also reported to be up in Mumbai, Chennai and Kolkata. The recent hikes in both petrol and diesel rates are attributed the global factors that include growing crude oil rates in the international market and a falling indigenous currency against the greenback.

      India heavily imports petroleum and the import bill is increasing because of the devalued domestic currency. Brent crude, which is the benchmark for global trades, is reported to have increased from $71 a barrel to $80 per barrel since 19 August 2018 and during the same tenure, the INR is said to have weakened by 5-6% against the greenback.

      Among the metro cities, diesel is a place where petrol and diesel are retailed at lower prices. Diesel is expensive in Andhra Pradesh caused by a higher sales tax. The fuel price charged to fuel customers encompasses excise duty, sales tax, commission, pollution cess, petroleum cost and OMC overheads. The dealer’s commission on diesel per litre is Rs.2.52 till date. Today’s diesel prices offered at Hindustan Petroleum, Bharat Petroleum and Indian Oil in Mumbai are Rs.78.67, Rs.78.67 and Rs.78.58 respectively.

      25 September 2018

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