Diesel Price In Warangal Today

  • Today's Diesel Price ( 15 Sep 2019 )
    ₹ 70.92
    Current Diesel Price Per Liter
    Compare Diesel Price in Warangal (Today & Yesterday)
    Today
    (15 Sep 2019)
    Yesterday
    (14 Sep 2019)
    Rate Change
    Diesel ( / litre) ₹ 70.92 ₹ 70.86 ₹ 0.06 ↑
    Diesel Price in Warangal - Last 10 Days Data
    Date Diesel ( / litre)
    15 Sep 2019 ₹ 70.92
    14 Sep 2019 ₹ 70.86
    13 Sep 2019 ₹ 70.76
    12 Sep 2019 ₹ 70.66
    11 Sep 2019 ₹ 70.61
    10 Sep 2019 ₹ 70.61
    09 Sep 2019 ₹ 70.55
    08 Sep 2019 ₹ 70.55
    07 Sep 2019 ₹ 70.55
    06 Sep 2019 ₹ 70.61

    Diesel Rate Trend

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    Diesel Price In Warangal

    The diesel price in Warangal has seen a lot of fluctuations in the recent times and this is due to various factors associated with it. India imports about four-fifths of crude oil from other countries, and since it is one of the key components in extracting fuel from, it makes it highly expensive for commodities like diesel and petrol while reaching the retail market.

    Before, we discuss about the various factors that affect the diesel rates in Warangal, here is a quick introduction to this place.

    Warangal is an urban city that is located in the state of Telangana. It is the second most popular and biggest city after Hyderabad. Spread across an area of 406.87 sq.km, Warangal is also been titled as one of the “smart cities in India“ and makes it ideal for business investments and to expand the industrial opportunities.

    Besides being well known for its agro-based and IT industries, Warangal is also into mineral-based sectors like bricks, cement blocks, cement concretes, granite lime, mosaic tiles, granite tiles, hydrated lime, coal, fuel, etc.

    Factors That Affect Diesel Price In Warangal

    Though there are various factors that affect the fuel prices in India, the primary ones are listed below:

    1. International Crude Oil Prices

    Crude oil is one of the major raw materials for diesel. Currently, India’s 75% of the crude oil requirements are met via imports. Therefore, international crude oil prices and FER (Foreign Exchange Rates) make the most important components while pricing diesel and petrol.

    Though they only form a small segment of total retail price of diesel, there are multiple factors that determine the final price. In fact, over 58% of the retail price of diesel per liter goes towards duties, taxes, dealer margins, and cesses.

    2. Oil Production Companies

    Oil Production Company is a company, which is responsible for manufacturing crude oil. This is taken care by both private and public sector companies. The examples for private sector companies include Cairn India Limited, Reliance Industries Limited whereas public sector companies include Oil India, ONGC (Oil and Natural Gas Corporation), etc. Nevertheless, these companies cater together only about 24% of total crude oil needs in India. Therefore, the rest is imported.

    3. Oil Marketing Companies

    Crude oil that s manufactured is further purchased by the OMCs (Oil Marketing Companies). These are companies that take care of not only the crude oil but also handles every phase of it until is being handed over to a dealer.

    This field also has private and public companies to do the job. However, the three networks that rule 95% of this market are:

    • IOCL – Indian Oil Corporation Limited
    • BPCL – Bharat Petroleum Corporation Limited
    • HPCL – Hindustan Private Corporation Limited

    The rest 5% is taken care of a few private sector companies, which are:

    • Essar
    • Reliance Industries

    4. Dealers

    Diesel rates are highly influenced by dealers as well. A dealer is a person or a business, who owns a petrol pump or petrol station. In other words, they are the ones dealing the fuel and bringing it to the consumers for daily use. They are the sellers of fuel, who trade the commodity at a retail price, after adding their margins and taxes.

    How Are Diesel Rates Determined In Warangal?

    India, now, uses the mechanism of “dynamic fuel pricing.“ It was implemented on June 16, 2017 to overcome the issues with the pricing system that was used earlier.

    Before the dynamic system came into effect, the fuel prices were updated on the first and sixteenth day of each month or perhaps, on a fortnight basis at 8:00 a.m. Hence, it was called “fortnight fuel pricing system.“

    However, this pricing system had multiple issues. To overcome them and to bring better transparency in the system as well as to prevent the governments to influence or affect the prices, a concept that was used by many developed nations was employed.

    According to the dynamic fuel pricing system, the prices are updated every morning at 6:00 a.m. IST (Indian Standard System).

    Why Was Dynamic Fuel Pricing Implemented?

    According to the OMCs (Oil Marketing Companies), the step was taken to make sure that the benefits of even the slightest modification in the international crude oil rates could be passed on to the dealers as well as the consumers.

    Apart from this being the primary reason, this step was also taken to bring better transparency in the system and to eliminate bigger leaps in prices, which were being affected on a fortnight basis.

    Is Dynamic Fuel Pricing Implemented In Warangal?

    Yes, the mechanism is not only implemented in Warangal but also in every region in India.

    Does GST Influence The Diesel Rates In Warangal?

    No, GST does not have any affect on diesel prices at Warangal as of now. Bringing petroleum products under the GST scheme has been planned for a long time now. However, Aurn Jaitley, the Union Finance Minister supported the idea of bringing the commodities like diesel, cooking gas, and petrol under the GST (Goods and Service Tax) regime.

    However, this might take a lot of time and important governments involved. Since BJP has powered about 19+ states in India, it wouldn’t be long if this decision is implemented.

    Also Check Diesel Price in NearBy Cities of Warangal

    *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 Petrol Price In Warangal

    • Diesel Prices Hiked by 6 paise per litre in New Delhi

      The rates of diesel were hiked for the second consecutive day in the country on Monday. State-run Oil Marketing Companies (OMCs) hiked the rates by 6-7 paise per litre across the four metropolitan cities of the country. In New Delhi, the price charged for every litre was hiked by 6 paise since the previous day’s rates and was retailed for Rs.63.90 per litre. In Mumbai and Kolkata as well, the rates were hiked by 6 paise per litre while in Chennai the rates were hiked by 7 paise per litre. Consumers residing in these cities were required to shell out Rs.66.99, Rs.65.82, and Rs.67.59 for a litre of diesel.

      In the international oil market, the rates of crude oil also saw an increase on Monday. The futures of Brent crude oil were up by 50 cents or 0.8% since the last close to be trading at $65.70 per barrel. The jump in the prices was accounted to the fact that tensions remained high between the United States and Iran. Mike Pompeo, the US Secretary of State had stated that significant sanctions would be announced on Tehran after Iran shot down a US drone last week. It needs to be mentioned here that domestic fuel prices in the country are dependent on global crude oil rates on a 15-day average and the value of rupee against the US dollar.

      26 June 2019

    • IOCL may lose Rs. 3,730 crore for third quarter

      Kotak Institutional Equities in a report has stated that Indian Oil Corporation Limited (IOCL) may report a loss of Rs. 3,730 for the third quarter of the current fiscal. The loss of the said amount for the country’s largest fuel retailer would be on the back of significant inventory loss because of a sharp fall in crude and product prices. The report added that the inventory loss for IOCL could be in tune of around Rs.12,700 crore. 

      The report published by Kotak Institutional Equities expected IOCL to report negative earnings before interest, tax, depreciation and amortization (EBITDA) despite the strength in underlying margins and forex gains of Rs.19 billion. As per the report, the amount will be offset by large inventory loss at Rs.127 billion across refining and marketing segments. Crude throughput of IOCL is expected to increase by 3% to 18.8 million tonnes for the quarter ending on December while domestic sales are projected to remain flat at 20.9 million tonnes. 

      It needs to be mentioned here that despite the fall of 1.7 dollars per barrel in Singapore complex margins, downstream Public Sector Undertakings (PSUs) are expected to report a quarter-on-quarter increase of 1 – 1.5 dollars per barrel in underlying refining margins. It is noteworthy to mention here that the margins of Singapore refining dropped to 4.3 dollars per barrel during Q3 from 7.3 dollars per barrel reported in the corresponding period of the previous year. 

      31 January 2019

    • Fuel Rates Kept Unchanged Today

      Petrol and diesel rates have been kept unchanged today across four major metro cities in the country after hiking it for six consecutive days. Petrol costs Rs.82.16 per litre in Delhi, while in Mumbai, Kolkata and Chennai it’s being sold at Rs.89.54, Rs.84.01 and Rs.85.41, respectively. Diesel, on the other, is being sold at Rs.73.87 per litre in Delhi, at Rs.78.42 in Mumbai, at Rs.75.72 in Kolkata and Rs.78.10 in Chennai. Fuel prices have been increased almost daily across the country in the last few weeks by State-run oil companies except on 5th and 12th September. Fuel prices have been on the incline due to the rise in the global crude oil price and the drop in the exchange rate of the rupee over the US dollar. Oil companies revise petrol and diesel rates based on the global crude oil price and the exchange value of the rupee over the US dollar, and prices are revised on a daily basis. New rates are applicable from 6:00 am.

      21 September 2018

    • Not Possible to Decrease Price Gap Between Petrol and Diesel for Private Vehicles: Centre to SC

      The Centre on Monday told the Supreme Court, comprising Justices MB Lokur and Deepak Gupta, that it was not possible to have a differential pricing of fuel for four-wheelers and private vehicles. On 13 July 2018, the SC had asked the Centre to inform it as to whether diesel and petrol can have similar pricing for four-wheelers and private cars after the Environment Pollution Control Authority (EPCA) said pollution caused by diesel vehicles was a cause of concern for the environment. The apex court had suggested that the Centre could contemplate fixing the price of petrol and diesel on par for private cars, other than goods vehicles. Also, the Centre had said reducing the price gap between diesel and petrol would not be economically viable and could lead to inflation. The Supreme Court was hearing to the petition that has raised the issue of pollution in the air in the Delhi and NCR.

      25 July 2018

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