Diesel Price In UP (Uttar Pradesh)Today

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 February 2021 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for February 2021:

• In Uttar Pradesh, the price of diesel opened at the rate of Rs.76.84 per litre. When compared to the closing rate of the fuel for the month of January, there was no change in the price.
• Diesel price in Uttar Pradesh fluctuated in the state over the month. The fuel recorded its highest price for the month on 27th and 28th February wherein it stood at the rate of Rs.81.84 per litre. The lowest price was recorded on 1st, 2nd, and 3rd February wherein a litre of diesel was retailing at the rate of Rs.76.84 per litre.
• The overall performance of the fuel witnessed an inclining trend in Uttar Pradesh with the percentage change witnessing an incline of 6.51%.

Trend of Diesel Price in Uttar Pradesh for January 2021 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for January 2021:

• In Uttar Pradesh, the price of diesel opened at the rate of Rs.74.18 per litre. Diesel price in Uttar Pradesh fluctuated in the state over the month.
• The fuel recorded its highest price for the month from 27th to 31st January wherein it stood at the rate of Rs.76.84 per litre. The lowest price was recorded on 1st, 2nd, and 3rd January wherein a litre of diesel was retailing at the rate of Rs.74.18 per litre.
• The overall performance of the fuel witnessed an inclining trend in Uttar Pradesh with the percentage change witnessing an incline of 3.59%.

Trend of Diesel Price in Uttar Pradesh for December 2020 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for December 2020:

• In Uttar Pradesh, the price of diesel opened at the rate of Rs.72.63 per litre. When compared to the closing rate of the fuel for the month of November, there was a drop of 13 paise in the price.
• Diesel price in Uttar Pradesh fluctuated throughout the month of December. The fuel recorded its highest price for the month on 15th and 25th December wherein the price stood at the rate of Rs.74.41 per litre. The lowest price was recorded on 1st December wherein a litre of diesel was retailing at the rate of Rs.72.63 per litre.
• The overall performance of the fuel witnessed an inclining trend in Uttar Pradesh with the percentage change witnessing an incline of 2.13%.

Trend of Diesel Price in Uttar Pradesh for November 2020 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for November 2020:

• In Uttar Pradesh, the price of diesel opened at the rate of Rs.70.91 per litre. There was an inclining trend in the price of the fuel over the month with gradual fluctuations.
• Diesel price in Uttar Pradesh fluctuated over the month. The fuel recorded its highest price for the month on 29th November wherein it stood at the rate of Rs.72.85 per litre. The lowest price of the fuel was recorded on the 3rd day of the month wherein it was being traded at the rate of Rs.70.78 per litre.
• The overall performance of the fuel witnessed an inclining trend in Uttar Pradesh with the percentage change standing at 2.75%.

Trend of Diesel Price in Uttar Pradesh for October 2020 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for October 2020:

• A litre of diesel was priced Rs.70.95 in Uttar Pradesh at the start of October. When compared to the closing price of the previous month, the price of the fuel was down by 97 paise.
• Diesel price in Uttar Pradesh saw a lot of fluctuations over the month. The fuel recorded its highest price for the month on 14th October when a litre was retailed for Rs.71 in the state. The lowest price of diesel was recorded on 3rd October when oil companies charged Rs.70.78 per litre.
• The fuel closed the month at Rs.70.91 per litre. The overall performance of diesel in Uttar Pradesh witnessed a declining trend with the percentage change being -0.05%.

Trend of Diesel Price in UP(Uttar Pradesh) for September 2020 (rates per litre) :

Monthly Diesel Price Trend in UP(Uttar Pradesh) for September 2020:

• A litre of diesel was priced Rs.72.52 in Uttar Pradesh at the start of the month. Compared to the closing price of the previous month, there was a drop of 2 paise in the rates.
• Over the month, the price of diesel witnessed fluctuations in the state. Diesel recorded its highest and lowest price for the month on 9th and 4th of September. On the mentioned dates, a litre was retailed for Rs.73.85 and Rs.72.62 respectively.
• Diesel price in Uttar Pradesh closed the month of September at Rs.73.83 per litre. The fuel’s overall performance witnessed an inclining trend with the percentage change being 0.08%.

Trend of Diesel Price in Uttar Pradesh for August 2020 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for August 2020:

• A litre of diesel was priced Rs.72.52 in Uttar Pradesh at the start of the month. Compared to the closing price of the previous month, there was a drop of 2 paise in the rates.
• Over the month, the price of diesel witnessed fluctuations in the state. Diesel price in UP recorded its highest and lowest price for the month on 9th and 4th of August. On the mentioned dates, a litre was retailed for Rs.73.85 and Rs.72.62 respectively.
• Diesel rate in Uttar Pradesh closed the month of August at Rs.73.83 per litre. The fuel’s overall performance witnessed an inclining trend with the percentage change being 0.08%.

Trend of Diesel Price in Uttar Pradesh for July 2020 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for July 2020:

• In the state of Uttar Pradesh, a litre of diesel was priced Rs.72.52. There was a minimal increase in the rates when compared to the price charged on the final day of the previous month.
• The lowest price of the fuel was recorded on 4th of July when a litre was retailed for Rs.72.47. Following that, diesel rates increased in the state and recorded its highest for the month on 26th July. Oil companies charged Rs.73.81 for a litre on the mentioned date.
• Diesel price in Uttar Pradesh closed the month at Rs.73.79 per litre. The overall performance witnessed an inclining trend with the percentage change being 1.75%.

Trend of Diesel Price in Uttar Pradesh for June 2020 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for June 2020:

• In the month of June 2020, diesel opened at the rate of Rs.63.93 per litre in Uttar Pradesh. When compared to the closing price of the previous month, there was an increase of Rs.0.05 paise in the rates of the fuel.
• Over the month, the rates of diesel witnessed an increasing trend in the state. The fuel recorded its highest price for the month on the last day of June wherein it stood at the rate of Rs.72.49 per litre. The lowest price for the month was recorded in the state on the 4th day when the fuel faired at the rate of Rs.63.78 per litre.
• The rates witnessed a steady hike in Uttar Pradesh over the month of June. The percentage change in the overall performance of the fuel was 13.39%.

Trend of Diesel Price in Uttar Pradesh for May 2020 (rates per litre):

Monthly Diesel Price Trend in UP(Uttar Pradesh) for May 2020:

• Diesel price in UP opened the month of May at Rs.62.87 per litre. Compared to the closing price of the previous month, there was an increase of 4 paise in the rates of the fuel.
• The rates witnessed a lot of fluctuations over the month in the state. Petrol recorded its highest price for the month on 8th May with a litre being retailed for Rs.63.96. The lowest price was recorded on 5th May when state-run Oil Marketing Companies (OMCs) charged Rs.62.77 for a litre of diesel.
• The overall performance of diesel in the state witnessing an inclining trend. The percentage change recorded was 1.60%.

Trend of Diesel Price in Uttar Pradesh for April 2020 (rates per litre):

Monthly Diesel Price Trend in Uttar Pradesh for April 2020:

• In Uttar Pradesh, diesel price started the month of April at Rs.62.86 per litre. There was no change in the rates when compared to the closing price of the previous month.
• Diesel price in UP touched its highest price for the month on 8th April when a litre was retailed for Rs.62.97 per litre in the state. With the rates witnessing constant fluctuations due to the turmoil in the international market, the rates hit its lowest for the month on 25th April with a litre costing Rs.62.80.
• Diesel closed the month of April at Rs.62.83 per litre. In the state, the overall performance of the fuel witnessed a declining trend with the percentage change being -0.04%

Trend of Diesel Price in Uttar Pradesh for March 2020 (rates per litre):

Monthly Diesel Price Trend in Uttar Pradesh for March 2020:

• Diesel price in UP(Uttar Pradesh), stood at Rs.64.58 per litre on 1st March 2020. There was a decline of 15 paise in the rates of every litre when compared to the closing price of the previous month. The opening price was the highest recorded price of the fuel in the state for the month.
• Given the increasing number of coronavirus cases and deaths across the world, the demand for the fuel took a hit. This resulted in the prices slipping in the state. OMCs retailed a litre of diesel for Rs.63.69 as of 9th March.
• The rates dropped further and recorded its lowest for the month on 16th March with every litre being retailed for Rs.62.86. Diesel prices saw no change following that and closed the month at the same price. The overall performance witnessed a declining trend of 2.66%.

Trend of Diesel Price in Uttar Pradesh for February 2020 (rates per litre):

Monthly Diesel Price Trend in Uttar Pradesh for February 2020:

• Diesel price in UP(Uttar Pradesh) stood at Rs.66.35 per litre on 1st February. There was a drop of 11 paise in the prices when compared to the previous month’s closing price.
• By the end of the second week, the rates of diesel slipped to Rs.64.95 per litre in the state as reports emerged that there was an increase in the number of coronavirus cases across the world.
• The rates continued to slip in Uttar Pradesh as the demand for fuel took a hit and international oil prices softened. The rates closed the week at Rs.64.73 per litre, the lowest recorded price in the state for the month. Diesel’s overall performance showed a decline of 2.44% in the prices.

Trend of Diesel Price in Uttar Pradesh for January 2020 (rates per litre):

Monthly Diesel Price Trend in Uttar Pradesh for January 2020:

• In Uttar Pradesh, diesel opened the month of January at Rs.68.13 per litre. Over the month, the rates of diesel slipped in the state due to the outbreak of coronavirus in China.
• Diesel recorded its highest price for the month on 11 January with every litre costing Rs.69.37 per litre. The increase in the prices over the first 10 days was accounted to the brewing tensions between the United States and Iran.
• The rates of the fuel fell to Rs.68.23 per litre on 21 January as the rates of global crude oil slipped due to the outbreak of coronavirus virus.
• Diesel prices continued to fall in the final week as well after the World Health Organization (WHO) announced a global health emergency due to the increasing number of coronavirus cases and deaths due to it. The rates closed the month at Rs.66.46 per litre with the overall performance showing a decline of -2.45%.

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

Monthly Diesel Price Trend in Uttar Pradesh for December 2019:

• The price of diesel opened at the rate of Rs.65.91 per litre for the month of December 2019 in Uttar Pradesh. Towards the end of the month, there was a significant increase in the same.
• In the international market, the price of the crude oil increased which had a direct impact on the price of diesel. In addition to that, the Washington-Beijing trade deal was expected to be concluded due to which the price of Brent crude oil was steady to an extent. However, the overall price of the Brent crude oil witnessed an overall increase of 24% during the year of 2019.
• At the end of December 2019, the diesel price in Uttar Pradesh stood at Rs.68.13 per litre which was the highest recorded price for the month. The lowest price was recorded at the beginning of the month when the price stood at Rs.65.91 per litre. The performance of the fuel witnessed an overall increase of 3.67%.

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

Monthly Diesel Price Trend in Uttar Pradesh for November 2019:

• Diesel price in UP stood at Rs.65.93 per litre on the 1st of November, 11 paise lower than the previous day’s closing price.
• Diesel prices fluctuated in the second week, with the oil closing at Rs.65.92 per litre.
• After staying stable for the next few days, prices soared again, recording Rs.65.97 per litre.
• However, in the final week, diesel rate dipped again closing at Rs.65.91 per litre. Overall performance of diesel was -0.03%, trending downwards.

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

Monthly Diesel Price Trend in Uttar Pradesh for October 2019:

• Diesel price in UP (Uttar Pradesh) stood at Rs.67.68 per litre on the 1st of October, its highest recorded price for the month.
• Diesel prices dropped amidst global economic crisis and closed the second week at Rs.66.64 per litre.
• Prices slumped further in the third week with the oil closing at Rs.66.35 per litre.
• Diesel in UP closed the month at Rs.66.03 per litre, its lowest recorded price for the month of October. In the international oil market, oil prices took a hit due to an unprecedented rise in US inventories and the looming economic slump. The overall performance of diesel in Uttar Pradesh was -2.43%, trending downwards.

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

Monthly Diesel Price Trend in Uttar Pradesh for September 2019:

• In the state of Uttar Pradesh, diesel price opened the month of September at Rs.65.38 per litre. The rates dropped in the first week and recorded the lowest price for the month on 7th September with every litre of diesel costing Rs.65.27 per litre.
• In the second week of the month, the rates increased gradually due to US – Iran tensions. Diesel closed the week at Rs.65.52 per litre.
• After a wave of drones attacked Saudi Arabia’s Aramco oil facilities, diesel prices shot up considerably in Uttar Pradesh in the third week. The rates witnessed a hike of Rs.1.17 per litre over the week.
• The rates continued to climb in the final week and closed the month at Rs.67.50 per litre. This was the highest recorded price for diesel in the month. The overall performance of diesel in the state was 3.24%, trending upwards.

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

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)

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)

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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