Diesel Price In Vadodara Today

  • Today's Diesel Price ( 15 Sep 2019 )
    ₹ 68.19
    Current Diesel Price Per Liter
    Compare Diesel Price in Vadodara (Today & Yesterday)
    Today
    (15 Sep 2019)
    Yesterday
    (14 Sep 2019)
    Rate Change
    Diesel ( / litre) ₹ 68.19 ₹ 68.12 ₹ 0.07 ↑
    Diesel Price in Vadodara - Last 10 Days Data
    Date Diesel ( / litre)
    15 Sep 2019 ₹ 68.19
    14 Sep 2019 ₹ 68.12
    13 Sep 2019 ₹ 68.03
    12 Sep 2019 ₹ 67.93
    11 Sep 2019 ₹ 67.88
    10 Sep 2019 ₹ 67.88
    09 Sep 2019 ₹ 67.83
    08 Sep 2019 ₹ 67.83
    07 Sep 2019 ₹ 67.83
    06 Sep 2019 ₹ 67.88

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    Diesel Price In Vadodara

    The diesel price in Vadodara has relatively increased in the last few years and has been fluctuating ever since the mechanism of “dynamic fuel pricing” has been implemented. This happened after India amalgamated with a few selected nations such as America and Australia lately, and that’s one of the key reasons for the price of diesel to fluctuate these days.

    Vadodara is an organized city located in the state of Gujarat and plays a key role in India for its business and industrial sectors. Before the 1950s, Vadodara wasn’t as developed as its today. Earlier, it was familiar only for its educational and social centers. But now it turned out to be a hub for different dominant industries. During 1962, Vadodara saw an unforeseen gush in the business activity after a few refineries were set up.

    Also Know: Petrol Price In Vadodara

    This article focuses on the various factors that affect the diesel rates in Vadodara and how dynamic fuel pricing has helped the gasoline sector to a great extent.

    Factors That Affect Diesel Rates In Vadodara

    There are many factors that affect the price of fuel in any region in India. However, the following are said to have a complete effect:

    • Climatic conditions: If an oil-manufacturing country or region is hit by a natural calamity or there has been an unexpected destruction, then the facilities in that plant are not only affected but also hits the regions that it supplies to. Moreover, if transportation or refinery amenities are affected, the gasoline will apparently be refined less.
    • Geopolitical tensions: Political interruptions also play a key role in the inclination of fuel prices across the world. At times, the impact is direct and eventually, this poses a shortage risk to the overall supply.
    • Increased demand: According to the thumb rule, the higher the demand, the greater the price. This applies to all the commodities that are used across the world and hence, diesel is no exception. This is very true for countries like India and China.
    • Seasonal changes: The amount of fuel consumed varies from one season to the other. Generally, oil refineries take this as an advantage and slow down the production, which undoubtedly, increases the fuel rates accordingly.
    • Limited capacity for refining: A high operating cost is one of the vital reasons for many oil refineries to shut down eventually in many regions across the world. This is mainly because the refining capacity fails to cope with the growing flow of oil production. Again, this inclines the price as well.
    • World reserves: Just a few rumors or a projection about the condition of the refined oil reserves can provoke a fear that the commodity might be falling short. Since refined gasoline and oil are traded on the stock market, even the slightest concern might lead to speculations, which in turn, calls for an increased price.
    • Devaluation of USD (United States Dollar): Refined gasoline and crude oil are traded in USD (United States Dollars). Therefore, when the currency plummets, producers adjust the prices up to avoid further losses.

    What Is Dynamic Fuel Pricing?

    The fuel prices were once updated or revised on the first and sixteenth day of every month based on the fortnight market trends and that’s why it was called the “fortnight fuel pricing system.” But this methodology had various disadvantages.

    For transparency and to prevent the governments from influencing or affecting the OMCs (Oil Marketing Companies), the concept of “dynamic fuel pricing” was implemented in India on June 16, 2017. Based on the international crude oil price, tax, CER (Currency Exchange Rate), and other market trends, the fuel price is revised on a daily basis every morning at 6:00 a.m. IST (Indian Standard Time).

    Is Dynamic Fuel Pricing Implemented In Vadodara?

    Yes, the mechanism of dynamic fuel pricing is implemented in all the fuel pumps in Vadodara. In fact, this system is there in every region in India.

    Does GST Affect The Fuel Prices In Vadodara?

    GST has not yet been included for petrol or diesel. However, even if the Indian Government plans to incorporate this, the prices will fall down to a great extent. In order to avoid this, the plan to include GST for gasoline is still a mystery.

    Also Check Diesel Price in NearBy Cities of Vadodara

    Diesel Price in Ahmedabad Diesel Price in Surat Diesel Price in Rajkot
    Diesel Price in Jamnagar Diesel Price in Indore Diesel Price in Mumbai

    *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 Vadodara Today

    • Diesel prices witness a hike in the range of Rs.0.19 to Rs.0.21

      State-owned oil companies on Tuesday hiked the rates of diesel in the range of Rs.0.19 to Rs.0.21. This was the sixth consecutive day when the rates were increased. Following the increase in the prices, every litre of diesel in the national capital cost Rs.65.90, an increase of Rs.0.19 as compared to the rates on Monday. In Mumbai, the financial capital of the country the rates were hiked by Rs.0.20 per litre to cost Rs.69.01. In the other two metropolitan cities i.e., Kolkata and Chennai, consumers were required to pay Rs.67.68 and Rs.69.62 respectively for a litre. The increase recorded in the prices in the above-mentioned metros were Rs.0.19 and Rs.0.21 respectively. In non-metro cities like Noida and Gurugram, Oil Marketing Companies (OMCs) charged consumers Rs.65.06 and Rs.65.67 respectively for every litre of diesel.  

      On Tuesday, crude oil prices fell due to concerns of global economic growth stoked concerns over future demand. Oil futures of Brent crude was down by 10 cents since their last close and was trading at 62.64 dollars per barrel.  

      It is noteworthy to mention here that the rates of diesel in the national and financial capitals of the country i.e., Delhi and Mumbai as of October 4, 2018, were Rs.75.45 and Rs.80.10 per litre. 

      23 January 2019

    • Further Fall in the Prices of Petrol and Diesel

      The prices of petrol and diesel in Delhi were further reduced by 15 paise each on Friday. The revised price of per litre of petrol now is Rs.78.06 and that of per litre diesel is Rs.72.74. The current price of petrol in Mumbai, after a decrease of 15 paise, is Rs.83.57. The price of diesel here was cut down by 16 paise and the revised price is Rs.76.22 per litre.

      Kolkata and Chennai also witnessed a drop in the prices of the two fuels. While the revised retail price of per litre of petrol in Kolkata is Rs.79.98 (after a drop by 35 paise), the corresponding price of diesel now is Rs.74.60 (reduced by 15 paise).

      The current price of per litre of petrol in Chennai, after a drop of 16 paise, is Rs 81.08 and diesel, after an increase of 16 paise, is being sold at Rs 76.89 per litre.

      9 November 2018

    • Fuel Prices Decline for the Eighth Straight Day

      State-run oil companies reduced petrol and diesel prices for the eighth straight day after the global crude oil prices declined. With the reduction in prices, a litre of petrol in Mumbai costs Rs.86.58, while a litre of diesel is available at Rs.78.41. While petrol prices have been cut by 15 paise per litre, diesel witnessed a cut of 5 paise per litre. The decline in fuel prices comes amid the decrease in the global crude oil prices. Oil prices are currently trading at $79.74 per barrel as against $85 earlier this month. Petrol and diesel prices are dependant on the rate of crude oil and the exchange rate of rupee over the U.S. dollar. While the rupee dropped to its lowest last month, the crude oil price rose to touch a four-year high which prompted fuel prices to touch record levels in the country. India imports more than 80% of crude oil making it an essential commodity in the market. Prices of petrol and diesel are revised based on the dynamic fuel pricing mechanism and the new rates are effective from 6:00 am IST.

      29 October 2018

    • What Triggered the Lengthiest Losing Streak of Crude Oil?

      After falling for the consecutive weeks, crude oil prices have recouped, but the forthcoming steps have not been clear. A lot can change by the end of this year. In recent weeks, the concerns about the international economy shifted to the front burner. The global growth is likely to be impacted by a trade war between China and the United States of America even though the news that China and the United States of America shall resume talks for the first time since the month of June, but the talks are expected to take place at a lower level.

      23 August 2018

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