Diesel Price In Uttar Pradesh Today

News About Diesel Price In Uttar Pradesh

• 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

• Governments Unwilling to Give Up on Additional Excise Duty Gains

  Though the prices of both petrol and diesel touched new heights as of Monday, the central government as well as the state governments are unwilling to cut the value added tax to ease the burden. Both Oil minister Dharmendra Pradhan as well as Finance secretary Hasmukh Adhia stated before the media that the government was keeping an eye on the matter. Adhia, however made it clear that there won’t be a cut in excise duty as of now. Both petrol and diesel prices in the country on Monday touched new heights after a rise was recorded in global crude oil prices with Benchmark Brent Crude which makes up 28 percent of India’s import, hovering near 70 dollars for every barrel. It needs to be mentioned that the central government had cumulatively hiked excise on petrol and diesel by Rs.11.77 and Rs.13.47 respectively between the period of November 2014 and January 2016.

  

  3 April 2018

• Diesel prices to reach their record highs before of the Union Budget 2018

  Before the Union Budget 2018, diesel prices in all the four metro cities of the country mounted to their record highs. On 1 February 2018, the diesel price per litre was Rs.68.27 a litre, 12 paise more than the price of the previous day. The price of diesel, in the capital city of India, was Rs.64.11 a litre on 1 February 2018. The Finance Minister of India presents the Union Budget today. It has been the much-awaited news. The ruling government and the leaders of the opposition party are interested to bring both fuels: 1) petrol and 2) diesel under the GST system. Let’s await and see whether or not the Union Budget includes this proposal.

  

  2 February 2018

• Latest Petrol Prices in Top Indian Cities

  Today, petrol prices have been increased by 17-20 paise per litre in four Indian metro cities – Delhi, Mumbai, Kolkata and Chennai. The fuel was priced at Rs.70.53 per litre in Delhi, Rs.78.42 per litre in Mumbai, Rs.73.12 per litre in Chennai and Rs.73.27 per litre in Kolkata. So far this month, petrol prices have gone up by 55-59 paise per litre in the four metro cities. Oil marketing companies – Indian Oil, Bharat Petroleum and Hindustan Petroleum – review fuel prices on a daily basis in consideration with overseas crude oil prices and the exchange rate. Since May 2015, global crude oil rates have poured to their highest as political concerns in a few OPEC countries offset estimates for higher US oil fabrication. Today, Brent crude added 0.7% to transact at $68.22. Global crude oil prices have increased due to a weak dollar and OPEC-led production cuts. The new system for fuel pricing was adopted in post mid-June 2017.

  

  9 January 2018

• Government Finishes Monthly LPG Rate Hike

  In a clear sign of the anxiety over increasing oil rates suggesting popular anger, all state-run oil marketing companies have been asked to discontinue raising the rate of subsidised cooking gas calendars by Rs.4 per month. In October, the order was raised. In the same month, the central government reduced the central excise duty on diesel to reduce the fuel price for end consumers. This has been the sign of the challenges that are likely to be suffered by the government from increasing oil rates. According to the resources of oil marketing companies, the government can envision the pause on upward price revisions on other fuels also. Hoping to capitalize on sliding overseas oil rates, the ministry of oil had taken a bold initiative by instructing oil marketing companies to raise the rate of subsidised cooking gas calendars by Rs.2 every month.

  

  29 December 2017