Diesel Price In UP (Uttar Pradesh)Today

  • Today's Diesel Price ( 16 Oct 2019 )
    ₹ 66.59
    Current Diesel Price Per Liter
    Compare Diesel Price in Uttar Pradesh (Today & Yesterday)
    Today
    (16 Oct 2019)
    Yesterday
    (15 Oct 2019)
    Rate Change
    Diesel ( / litre) ₹ 66.59 ₹ 66.59 ₹ 0 ↑
    Diesel Price in Uttar Pradesh - Last 10 Days Data
    Date Diesel ( / litre)
    16 Oct 2019 ₹ 66.59
    15 Oct 2019 ₹ 66.59
    14 Oct 2019 ₹ 66.64
    13 Oct 2019 ₹ 66.64
    12 Oct 2019 ₹ 66.64
    11 Oct 2019 ₹ 66.78
    10 Oct 2019 ₹ 66.94
    09 Oct 2019 ₹ 67
    08 Oct 2019 ₹ 67
    07 Oct 2019 ₹ 67.1

    Diesel Rate Trend

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    Diesel Rate in Uttar Pradesh

    Diesel price in Up (Uttar Pradesh) today is determined by state-owned oil firms based the daily ‘Dynamic Fuel Pricing’ mechanism. Here, you can check the current diesel price in Uttar Pradesh, find today's diesel price and the quarterly price trend in Uttar Pradesh. New diesel prices in Uttar Pradesh are updated by oil firms daily at 6:00 am IST.

    Trend of Diesel Price in Uttar Pradesh for September 2019 (rates per litre)

    Parameters Rates/litre
    1st September Rs.65.38
    21st September Rs.66.69
    Highest Rate in September Rs.66.69
    Lowest Rate in September Rs.65.27
    Overall Performance Incline
    Percentage Change 2.00%

    September - Week 1 (1-7):

    • Diesel price in Uttar Pradesh opened at Rs.65.38 per litre, unchanged from previous day’s closing price. State-run oil marketing companies decided not to cut prices due to soft demand of the oil.
    • After staying stable for the next few days, diesel rate in up dropped by 2 paise on the 5th of September, recording Rs.65.36 per litre. Diesel dropped further, closing the week at Rs.65.27 per litre. Meanwhile in the international oil market, crude prices went up after US confirmed that talks with China to reach a trade pact would be held in the coming weeks.
    • Overall performance of diesel in Uttar Pradesh for the first week of September was -0.16%, trending downwards.

    September 2019 – Week 2 (8 – 14):

    • Diesel price in Uttar Pradesh opened the second week of the month at Rs.65.27 per litre. The rates were unchanged from the previous day’s closing price.
    • The prices were on an upward curve since 10 September due to a sharp decline in US inventories. Diesel rate in UP closed the week at Rs.65.52 per litre. Meanwhile, in the international oil market, crude oil futures dropped due to a weak trend.
    • The overall performance of diesel in the state was 0.21% for the week. The rates are expected to witness a hike in the coming days going by the current trend.

    September 2019 – Week 3 (15-21):

    • Diesel rate in the state of Uttar Pradesh opened at Rs.65.58 per litre. The rates charged were unchanged from the previous day’s closing price.
    • The rates jumped considerably over the week after staying constant for the next day. The increase in the prices was accounted to last week’s drone attack on Saudi Arabia’s Aramco oil refinery.
    • Diesel price in Up closed the third week of September at Rs.66.69 per litre. This was the highest recorded prices for the month till now. Since the start of the week, diesel prices went up by Rs.1.11 per litre with the overall performance of petrol in the state being 2.00%.

    Trend of Diesel Price in Uttar Pradesh for August 2019 (rates per litre):

    :
    Parameters Rates/litre
    1st August Rs.65.07
    31st August Rs.65.38
    Highest Rate in August Rs.65.47
    Lowest Rate in August Rs.64.34
    Overall Performance Incline
    Percentage Change 0.47%

    August 2019 – Week 1 (1-7):

    • Diesel price in Up(Uttar Pradesh) opened at Rs.65.07 per litre on 1 August, its highest recorded price of the week. State-run oil marketing companies decided not to alter the rates of diesel in spite of weak demand of crude in the international market.
    • Diesel remained unchanged for the next couple of days, before dropping to Rs.65.03 per litre, recording a drop of 4 paise per litre. Meanwhile, in the international market, crude prices fell amid worries over weaker demand after the Trump administration said it would impose tariffs on more Chinese imports.
    • Diesel closed the week at Rs.65.03 per litre, unchanged from the previous day’s closing price. The overall decline of diesel price in UP recorded in the first week of August is -0.06%. In the international oil market, crude price dropped owing to US-China trade tensions.

    August 2019 – Week 2 (8-14):

    • Diesel price in Uttar Pradesh opened at Rs.64.94 per litre on the second week of August, recording a 9 paise drop from previous day’s closing price.
    • Diesel slumped further by 12 paise on the next day, standing at Rs.64.82 per litre. The dip was primarily due to the ongoing US-China trade tension, fuelled further by Trump administration’s decision to impose more tariffs on Chinese imports.
    • Diesel price in UP dropped slightly in the next few days before stabilising at Rs.64.55 per litre. The overall performance compared to the opening day was -0.79%, trending downwards. Meanwhile, in the international oil market, crude prices dropped due to possible supply cuts amidst looming global economic crisis.

    August 2019 – Week 4 (22-31):

    • Diesel price in Uttar Pradesh opened at Rs.65.26 per litre on 22nd August, unchanged from previous day’s closing price. Diesel had already witnessed a surge a couple of days before owing to the hike in VAT as imposed by the state government.
    • Diesel prices shot up, recording Rs.65.47 per litre on 26th August. In the international oil market, crude gained after slump in US inventories.
    • Diesel slumped soon after, closing the month at Rs.65.38 per litre. In the international market, crude suffered due to concerns about the strength of the US economy. The overall performance of diesel in UP was 0.47%, though trending downwards.

    Trend of Diesel Price in UP for July 2019 (rates per litre)

    Parameters Rates/litre
    1st July Rs.63.59
    28th July Rs.65.23
    Highest Rate in July Rs.65.66
    Lowest Rate in July Rs.63.59
    Overall Performance Incline
    Percentage Change 2.57%

    July 2019 – Week 1 (1-7):

    • Diesel price in Uttar Pradesh was recorded at Rs.63.59 on 1 July. It was a slight increase than the previous day’s closing price. The surge was primarily due to major oil marketing companies deciding to revise fuel and diesel prices.
    • Diesel again witnessed a surge of Rs.0.05 on 2 July, recording at Rs.63.64 per litre. The hike could be attributed to the revision in prices as initiated by the oil marketing companies. Diesel remained steady for the next few days till 6 July.
    • After a steady few days, UP diesel prices increased on 7 July, recording at Rs.65.66 per litre. This significant increase was majorly due to the Government’s decision to raise excise duty and road and infrastructure cess on petrol and diesel by Rs.2 per litre.

    July 2019 – Week 2 (8-14):

    • Diesel price in Uttar Pradesh opened at Rs.65.58 per litre on 8 July, a slight decline from previous day’s closing price. The decline in diesel price was triggered by a possible global economic crisis owing to US-China trade tensions.
    • Diesel stood at Rs.65.49 per litre on 9 and 10 July, again showing minimal but steady decline in prices. It is being speculated that investors are focusing on safe-haven investment channels like gold due to the possible economic slump.
    • On 14 July, diesel in UP witnessed a further slump and closed at Rs.65.28 per litre, a decline of -0.45%. Though the petrol prices improved owing to further supply cuts, diesel prices got cheaper as investors assessed the probable economic meltdown owing to US-China trade war.

    July 2019 – Week 3 (15-21):

    • Diesel price in UP opened at Rs.65.28 per litre on 15 July, unchanged from the previous day’s closing price. The international oil market remained fairly stable with OPEC and Russia agreeing to extend supply cuts. However, China’s report on its slowest quarterly economic growth indicated lack of crude oil demand among the major players of the market.
    • Diesel price in Uttar Pradesh remained stable on the next few days amidst US-China trade tensions. Weak demand of crude oil in the international oil market was reported following the rise in US stockpiles.
    • Diesel closed the week at Rs.68.47 per litre on 21 July amid the US-Iran tensions. It’s being speculated that oil prices could trend upwards if the Middle East tension worsens, which could outweigh the resumption of oil supply in the Gulf of Mexico post Hurricane Barry effect that prompted the oil manufacturers to cut down oil supplies. The tension between the two countries can even outweigh the increase in US supply from shale oil.

    July 2019 – Week 4 (22-28):

    • Diesel in Uttar Pradesh opened at Rs.65.28 per litre on 22 July, maintaining its stability in pricing since the third week of July. The state-run oil marketing companies decided not to alter diesel prices amid global crude price drop owing to weak demand of crude among investors.
    • Diesel remained stable for the next couple of days though international crude industry gained a bit of momentum due to the ongoing Middle East tension and reports of a huge fall in US inventories. However, petrol prices rose during this period.
    • Diesel in UP slumped soon after, closing the week at Rs.65.23 per litre on 28 July. The price drop could be attributed to the weak demand of crude in the international market. With Russia and OPEC agreeing to extend supply cuts till March 2020 has affected diesel prices as well. Also, International Energy Agency or IEA has claimed that oil prices are unlikely to go up in the following days due to a glut in the global crude industry and weak demand among investors.

    Trend of Diesel Price in UP for June 2019 (rates per litre)

    Parameters Rates/Litre
    2nd June Rs.65.19
    30th June Rs.63.50
    Highest Rate in June Rs.65.19
    Lowest Rate in June Rs.63.19
    Overall Performance Decline to rise
    Percentage Change -2.59%

    June 2019 – Week 1 (2-8):

    • In the first week of June, diesel opened at Rs.65.19 per litre, a price drop of 22 paise from the previous day’s price.
    • Diesel price in UP continued to dip over the week with the lowest price recorded at Rs.64.11 per litre on 8 June.
    • Though the prices gradually stabilised, the initial dip could be attributed to the decline in global oil prices. Brent crude prices recorded a drop of 0.4% and were trading at $61.01 per barrel and was one of the primary reasons of the price drop.

    June 2019 – Week 2 (9-15):

    • The prices recorded on 9 June were same as the previous day’s that stood at Rs.64.11 per litre.
    • Diesel price in UP remained unchanged till 10 June, following which there was a sharp drop with the lowest price being recorded at Rs.63.49 per litre on 15 June.
    • Drop in UP diesel price came amidst a fall in global crude prices.

    June 2019 – Week 3 (16-23):

    • Diesel rate in UP opened the week at Rs.63.28 per litre, recording a drop of 21 paise as compared to the previous day’s price.
    • The Diesel price in UP further dropped to Rs.63.20 per litre following which it stabilised and remained unchanged till 19 June.
    • On 20 June, prices dropped to Rs.63.15 per litre, a drop of 0.05 paise and remained unchanged till the end of the week i.e. 23 June. The drop in crude prices was triggered by the ongoing US-Iran conflict coupled with a speculated slash in US interest rates.

    June 2019 – Week 4 (24-30):

    • In the fourth week, diesel recorded a slight increase of 11 paise, recording at Rs.63.26 per litre on 24 June.
    • Diesel price in UP improved in the following days with diesel closing at Rs.63.50 per litre, an increase of 24 paise since the opening day of the week.
    • Overall there was a decline of 2.59% in diesel prices for the month of June amidst the drop in global crude prices. Investors also looked forward to OPEC holding talks with allies regarding the supply cuts.

    How are diesel rates in Uttar Pradesh moving currently? Are they showing an increasing trend or a decreasing trend? To make a thorough analysis of diesel prices in the state, let’s consider the four major cities, which are Lucknow, Kanpur, Ghaziabad, and Agra.

    Lucknow

    Lucknow is the capital city of Uttar Pradesh. Between 7 October and 16 October, the average rate of diesel in the city was Rs.58.30. In September 2017, the highest and lowest rates were Rs.59.95 and Rs.58.43 respectively. On the opening day of the month, the rate was Rs.58.43. On the closing day of the month, it increased to Rs.59.91. In August 2017, the highest rate was Rs.58.36 and the lowest rate was Rs.56.46. Similarly, in July 2017, the lowest and highest rates were Rs.55.03 and Rs.56.39 respectively.

    Kanpur

    Kanpur is the second largest city, which is also the main center of industrial and commercial activities. In the city, between 09 October and 16 October 2017, the cost of diesel has reduced to Rs.57.89 from Rs.58.05. It has decreased to Rs.58.36 from Rs.59.52 between 4 September 2017 and 25 September 2017. Between 21 August 2017 and 28 August 2017, the price has increased to Rs.57.48 from Rs.57.46.

    Ghaziabad

    Ghaziabad is another major city in the state. In the city, the average price of diesel between 7 October 2017 and 16 October 2017 was Rs.58.20. In September 2017, the lowest and highest rates were Rs.58.34 and Rs.59.87 respectively. In August 2017, the highest and lowest rates were Rs.58.28 and Rs.56.38 respectively. In July 2017, the price has increased to Rs.56.32 from Rs.54.95 on the closing day of the month.

    Agra

    Agra is a famous tourist destination. In the city, between 21 August and 28 August 2017, the cost of diesel increased to Rs.57.40 from Rs.57.38. It further increased to Rs.59.36 between 04 September and 11 September 2017. Between 19 September and 25 September 2017, it reduced to Rs.59.46 from Rs.59.57. This was the overall trend in diesel prices in Uttar Pradesh over the last four months.

    Daily Revision of Diesel Prices in Uttar Pradesh

    The daily revision is the new system of fuel pricing that has been implemented in India on 16 June 2017. According to the new system, all diesel bunks across the state will update diesel prices on a daily basis. Since all state-run oil marketing companies have adopted the daily revision, diesel rates have seen a steady and constant growth. All automated diesel bunks will automatically revise diesel prices every day. All non-automated diesel bunks will manually revise.

    Features of the daily revision

    • Prices will be revised on a daily basis at 06:00 a.m.
    • Diesel consumers will be aligned to market dynamics.
    • The system brings transparency in fuel pricing.
    • Bunk owners will be able to practice the best inventory management principles.
    • Neither the central government nor the state government will interfere in fuel pricing.

    Computation of Diesel Prices in Uttar Pradesh

    The actual cost of diesel per litre is computed using the following equation:

    Retail price = Cost of crude oil + Refinery transfer price + Profit margin of oil marketing companies + Commission charged by dealers + Excise duty + State levies (VAT)+ pollution cess

    Crude oil is imported by Indian oil entities. The cost that is incurred by Indian oil companies in order to buy crude oil is called the cost of crude oil. Ocean freight is also included in the cost of crude oil.

    Refinery transfer price is the cost, which is incurred by oil marketing corporations to convert raw oil into diesel. It is charged by refineries.

    Oil marketing companies then add a certain percentage of profit margin on the total of the cost of crude oil and refinery transfer price.

    The refined diesel will then be shifted from refinery stations to retail diesel stations. Diesel bunk owners charge a certain percentage of commission for supplying diesel to end consumers.

    Excise duty is the tax imposed by the central government on diesel. It will remain unchanged throughout the country.

    Diesel is also taxed by state governments, but the percentage of tax differs from one state to another. The percentage of tax imposed on diesel in Maharashtra is comparatively high among all Indian states.

    Factors Affecting Diesel Prices in Uttar Pradesh

    The Cost of Diesel will increase if:

    • The cost of crude oil goes up in overseas markets
    • The currency of the United States of America (USA) gains against the currency of India
    • The central government decreases the excise duty
    • The state government decreases VAT

    The Cost of Diesel will decrease if:

    • The cost of crude oil decreases in overseas markets
    • The currency of the United States of America (USA) falls against the currency of India
    • The central government increases the excise duty
    • The state government increases VAT
    • Factors affecting the cost of crude oil

    The Cost of Crude Oil will increase if:

    • The demand for crude oil increases
    • Oil extraction activities are interrupted by unfavorable weather conditions
    • The INR weakens against the USD

    The Cost of Crude Oil will decrease if

    • The demand for crude oil is stable
    • Oil extraction activities remain unaffected by weather conditions
    • The INR gains against the USD

    Impact of GST on Diesel Prices in Uttar Pradesh

    Present Scenario

    • All petroleum products are not covered under the GST regime.
    • The entire oil and natural gas industry has been kept outside the purview of GST.
    • All industry participants continue to pay taxes as per the earlier system.

    If GST is Imposed on Diesel:

    • All industry participants have to follow the current and the GST framework.
    • The compliance cost will be increased by 100%.
    • The current price of diesel in Uttar Pradesh will fall by 20-30%.
    • Diesel consumers will be benefited.
    • The revenue source for the central and state governments is adversely impacted.

    Also Check Diesel Price in NearBy Cities of Uttar Pradesh

    *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.

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    News About Diesel Price In Uttar Pradesh

    • Petrol Prices Remain unchanged on Wednesday

      State-owned Oil Marketing Companies (OMCs) decided to keep the rates of petrol unchanged in the country on Wednesday. This was the second consecutive day when the prices were kept constant across the major cities of the country. Following Wednesday’s revision in the prices, every litre of petrol in the national capital was retailed for Rs.73.27. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai the rates charged for a litre of petrol were Rs.78.88, Rs.75.65, and Rs.76.09 respectively. In non-metropolitan cities like Noida and Gurugram, consumers were required to pay Rs.72.52 and 73.04 respectively for a litre on Wednesday.

      In the international oil market, the rates stabilised on Wednesday. The futures of Brent crude oil were up by 16 cents or 1.3 percent since the last close to be trading at $64.51 per barrel. It needs to be mentioned here that crude prices on Tuesday had tumbled by over 3 percent due to contradictory signals from US and Iran with regard to tensions. In India, the rates of fuel are set after taking into consideration international oil prices on a 15-day average and the value of rupee against the US dollar. This is because India imports 80% of its total crude requirement.

      18 July 2019

    • Diesel Prices cut by 9 – 10 paise per litre on Sunday

      On Sunday, the rates of diesel fell by 9 – 10 paise per litre in the country. This was the fourth consecutive day when the prices were slashed by state-owned Oil Marketing Companies (OMCs). On Sunday, every litre of diesel in the national capital was retailed for Rs.63.84 after the rates were cut by 9 paise per litre. In Mumbai, the prices were slashed by 10 paise to be sold for Rs.66.93 per litre. In the other two metropolitan cities of the country i.e., Kolkata and Chennai consumers were required to shell out Rs.65.76 and Rs.67.52 for one litre of diesel. In Noida OMCs charged Rs.63.17 for one litre of diesel.

      It needs to be mentioned here that the rates of fuel are revised in the country on a daily basis after state-run OMCs adopted the dynamic pricing scheme. As per the mechanism, the rates depend upon international crude oil prices on a 15-day average and the value of rupee against the UD dollar.

      18 June 2019

    • Diesel prices hiked by Rs.0.10 across the major cities

      Diesel prices across all the major cities in the country were hiked for the sixth consecutive day on Tuesday. Oil Marketing Companies (OMCs) hiked the rates by Rs.0.10 across all the major cities of the country. In New Delhi, the national capital of the country the rates charged for a litre of diesel was Rs.67.74 while in the financial capital of the country i.e., Mumbai the rates were Rs.70.86 per litre. The rates charged for one litre of diesel in Mumbai was at par with the December 2018 levels. In Kolkata and Chennai, OMCs charged consumers Rs.69.43 and Rs.71.49 per litre respectively. 

      On the global front, the futures of both US West Texas Intermediate (WTI) crude and Brent crude were down since their last settlement. US WTI crude and Brent crude were trading at 56.46 dollars and 65.60 dollars per barrel respectively after having fallen by 0.2 and 0.1 per cent respectively. 

      It needs to be mentioned here that the country’s diesel consumption is expected to rise to a record level this year. This has been forecasted by analysts at Fitch Solutions and consultants Wood Mackenzie. As per them, the demand for diesel is expected to increase by 5.7 and 6.4 per cent due to increased infrastructure spending by the current government. 

      6 March 2019

    • Petroleum derivatives out to be brought under the regime of Goods and Services Tax, Industry sources reveal

      On Sunday, Rajeev Talwar, President of PHD Chamber of Commerce and Industry, welcoming the decision of the council of Goods and Services Tax to reduce tax rates on many commodities and services, said, “I urge the government to include all the products of petroleum under the realm of Goods and Services Tax.”

      The industry body revealed in a declaration citing Rajeev Talwar, said, “In order to rationalise the influence of the indirect levies through considering value-added tax and central tax in Goods and Services Tax, the products of petroleum have to be brought under the realm of GST pondering the flexibility in the rate of overseas crude oil.”

      As of now, diesel and petrol are outside the GST scope. They attract the central tax and the value-added tax. The experts of the sector are of the opinion that the inclusion of diesel and petrol will bring down their prices. In a recently held GST meeting conducted on Saturday, the tax rates on 17 items have been reduced. With this latest tax cut, only 28 commodities are taxed at the highest tax slab of 28%.

      26 December 2018

    • Diesel Prices Fall as Global Crude Prices Continue to Drop Ahead of Oversupply Concerns

      Diesel prices have been on the fall over the last three weeks as crude oil prices in the international market have also fallen consistently. During the first week of October, diesel prices peaked to hit their highest ever levels in India as crude prices were above the $80 per barrel mark. In Delhi, diesel was priced at Rs.72.74 per litre on Friday, as opposed to Rs.72.89 per litre seen on Thursday.

      Likewise, in Mumbai diesel was priced at Rs.76.22 per litre as opposed to Rs.76.38 per litre seen on Thursday. With the fall, diesel rates have fallen by as much as 10% since the beginning of October, during which period the government decided to cut taxes on fuel by Rs.2.50 per litre.

      The government had endured significant backlash as fuel prices continued to surge on a daily basis breaking all sorts of price records along the way. The administration had remained muted when it came to cutting prices, however, it did once and called it an one time occurence. The falling fuel prices means that inflationary concerns are going down in the country.

      13 November 2018

    • Price of Diesel Down by 11 Paise in Metro Cities

      On Wednesday, the price of diesel was slashed by 11 paise in the metro cities of Mumbai, Delhi, Chennai, and Kolkata by the Oil marketing companies. This is a welcome move after the sharp rise of fuel prices in the country owing to several factors like rapid fall in the value of rupee, rising prices of crude oil, and high excise duty.

      The new price of diesel in Delhi is Rs.75.58 per litre while it’s Rs.79.35 per litre in Mumbai. In Kolkata, diesel is selling at Rs.77.54 per litre and the price of per litre of diesel in Chennai is Rs.79.93.

      To cut down the rates, the Narendra Modi government has resorted to reduction in the excise duty and oil company subsidy. The excise duty has been cut by Rs.1.50 per litre and the state-run oil marketing firms have been asked to subsidise fuel by Re.1 every litre.

      22 October 2018

    • Brent Crude Hits Four-year High, More Rise to be Expected Soon

      Brent crude prices hit their highest levels in four years, since November 2014, as the US sanctions on Iran is all set to take effect next month

      On Monday, the 1st of October, prices went up to $83.24 per barrel up 0.3% to reach its highest ever levels for the last four years. West Texas Intermediate crude, on the other hand was seen trading at the $73 dollar mark.

      The rise can be attributed largely to the upcoming US sanctions on Iran, which has caused a massive turmoil in the market. ANZ Bank has also said that the trend points at the market hitting $100 per barrel very soon, and can even happen as early as next month.

      Another source said that if Chinese refiners follow the US sanctions closely, prices are likely to go even higher and more aggressively. A report further said that as many as 1.5 million barrels a day will be going offline since November 4, when the sanctions will take effect, meaning prices are going to go up further and even more steeply.

      3 October 2018

    • Petrol and Diesel Prices Soar to Touch Record Highs Again

      Petrol and diesel prices in Delhi and Mumbai soared to touch record highs again on Thursday as Oil Marketing Companies (OMCs) hiked fuel prices across four major metro cities. Petrol is being sold at Rs.79.51 per litre in Delhi, while in Mumbai it costs Rs.86.91 a litre. Diesel rates were hiked as well with a litre of the fuel is being sold at Rs.71.55 in Delhi and Rs.75.86 in Mumbai. Fuel prices have been on the rise since August as the global crude oil price have been on the incline and the rupee has dropped significantly over the US dollar. Oil companies revise petrol and diesel prices based on the crude oil price and the exchange rate of the rupee on a daily basis. The new prices are effective from 6:00 am every day.

      11 September 2018

    • No Changes in Diesel Prices in all Four Metros

      Global oil prices experienced a dip on 1 August 2018 due to a sudden surge in crude oil stock in the US. Earlier in July, Brent has experienced a drop by more than 6%. The dip in crude futures and Brent is dubbed to be the lowest monthly decline in the past two years. Diesel experienced a 7 paise drop nationwide. However, the oil prices across all four metros in India did not witness any changes on Wednesday. Oil Marketing Companies (OMC) did not change the fuel prices, and the diesel prices were Rs.72 per litre in Mumbai, Rs.70.58 per litre in Kolkata, Rs.67.82 per litre in Delhi and Rs.71.62 per litre in Chennai. OMCs like Bharat Petroleum, Hindustan Petroleum and Indian Oil regularly modify their rates from 6:00 am every day.

      6 August 2018

    • Diesel Prices Fall Ahead of Crucial OPEC Meet

      Diesel prices fell by 10 paise per litre today. Diesel is sold at Rs.67.68 a litre in Delhi and in Mumbai it’s being retailed at Rs.71.99 per litre effective from 6 a.m. today. The Organisation of Petroleum Exporting Countries (OPEC) and other oil-producing nations are scheduled to meet on 22 June 2018 to decide if production of crude oil has to be increased to reduce the rates of crude oil. India is currently the third largest oil importer in the globe and is hoping for a favourable outcome from the meeting. Speaking in Vienna, Union Oil Minister Dharmendra Pradhan said that the country expects its suppliers to approach responsibly as the high price of crude oil is hurting the nation's economy.

      22 June 2018

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