Home  »  Fuel Price  »  Diesel Price  »  Odisha  »  Bhubaneswar

Diesel Price in Bhubaneswar (24th June 2021)

Todays diesel rates in Bhubaneswar are very sensitive to global crude prices. We have been seeing an uptick in global crude prices, which has also pushed diesel rates in Bhubaneswar higher. Also, prices of the petroleum product have now been aligned to market rates. This means diesel price in Bhubaneswar will rise each time, global crude prices rise and the rupee falls against the dollar.

Jun 23, 2021
₹ 96.14 /Ltr ( ₹ -0.01 )

Last 10 Days Diesel Rate in Bhubaneswar

Date Price Price Change
Jun 22, 2021 ₹ 96.15 ₹ -0.02
Jun 21, 2021 ₹ 96.17 ₹ 0.08
Jun 20, 2021 ₹ 96.09 ₹ 0.54
Jun 19, 2021 ₹ 95.55 ₹ 0.12
Jun 18, 2021 ₹ 95.43 ₹ 0.24
Jun 17, 2021 ₹ 95.19 ₹ -0.41
Jun 16, 2021 ₹ 95.60 ₹ 0.49
Jun 15, 2021 ₹ 95.11 ₹ 0.06
Jun 14, 2021 ₹ 95.05 ₹ 0.27
Jun 13, 2021 ₹ 94.78 ₹ -0.01

Daily & Monthly Diesel Price in Bhubaneswar : Graphical Representation

Historical Diesel Price in Bhubaneswar

  • Trend of Diesel Rate in Bhubaneswar, June 2021
  • Diesel Price
    1st June Rs.93.03
    30th June Rs.96.14
    Highest rate in June Rs.96.17 on June 21st
    Lowest Rate in June Rs.93.03 on June 1st
    Over all performance Rising
    % Change +3.23%
  • Trend of Diesel Rate in Bhubaneswar, May 2021
  • Trend of Diesel Rate in Bhubaneswar, April 2021
  • Trend of Diesel Rate in Bhubaneswar, March 2021
  • Trend of Diesel Rate in Bhubaneswar, February 2021
  • Trend of Diesel Rate in Bhubaneswar, January 2021
  • Trend of Diesel Rate in Bhubaneswar, December 2020

Bhubaneswar, is Odisha 's capital and is also among the largest city of India. With an rising number of diesel-powered vehicles and industrial sites, diesel use in Odisha is raising year by year. The essential raw material for processing diesel is crude oil. Aboriginal crude oil production in India isn't enough to satisfy the country's oil needs. That's the factor why diesel prices in all parts of the country, including Bhubaneswar, are rising. After 16 June 2017, all state-owned diesel bunks in Bhubaneswar have been updating diesel prices on a regular basis. Under the latest fuel pricing model called dynamic fuel pricing, the diesel price would be different from day-to-day. Some developing countries like the USA and Australia have adopted the same method to assess the price of diesel. The Dynamic Fuel Pricing Model guarantees fuel pricing stability and encourages diesel dealers to follow the best practices of cost control. 

In every region of the globe, diesel intake is more competitive to petrol. So monitoring the current diesel price is extremely important particularly for industrial clients. And the slightest change will make the billing amount a major impact. It is possible to search the current price of diesel in Bhubaneswar online by visiting the Indian Oil, Shell Oil, Hindustan Petroleum and Bharat Petroleum portals. The easiest place to get the changed diesel price in the city is to use the smartphone apps of these oil marketing firms and Goodreturns.in site.  

Dynamic Fuel Pricing

Indian fuel traders have been approved to adopt the dynamic fuel pricing strategy in order to adjust fuel rates.

This initiative is also known as the Dynamic Fuel Pricing System in India. Consequently, based on global variations in the cost of crude oil under dynamic fuel pricing, diesel prices of Bhubaneswar will change on a regular basis. By adopting the Dynamic Fuel Pricing process, oil marketing firms, dealers, diesel buyers, the state government and the central government are effective and beneficial. 

Advantages of dynamic fuel pricing

  • Dynamic fuel pricing will satisfy diesel customers with the global market's swings. Consequently, the volatile market aspects will be minimised.
  • The fuel retailing business in India can be aligned with compatible with international markets. The proposed program lowers the cash flow effects on fuel companies.
  • Throughout the fuel retail industry, the framework of regular revision facilitates the contributions of private firms. And thus, best practices can be implemented in the fuel retailing industry.
  • It also lessens political conflicts on fuel prices, making the Bhubaneswar’s diesel price change 100 per cent versatility.
  • The daily revision process is basically an international practice in certain advanced countries, such as Japan, Australia and the United States of America.
  • There are several nations where fuel prices can vary two or three times in a single day.  

What is the pace of diesel price revision in Bhubaneswar?

After 16 June 2017, all state-owned diesel bunks in Bhubaneswar have been updating diesel prices on a regular basis. Under the latest fuel pricing model methodology called fuel pricing, the diesel price would be different from day to day. The same paradigm for calculating the price of diesel has also been adopted by other developing nations, such as the United States of America and Australia. The Dynamic Fuel Pricing Model guarantees fuel pricing stability and allows diesel dealers to follow the best practises of stock management. In every region of the globe, diesel consumption is more equal to petrol. It is therefore extremely necessary to monitor the current diesel prices. And the slightest change will make the billing total a major difference. It is possible to search the current market price of diesel in Bhubaneswar online by accessing the Indian Oil, Shell Oil, Hindustan Petroleum and Bharat Petroleum portals. The easiest approach is to download these oil marketing companies' smartphone apps to get the updated price of diesel in the region. 

How Diesel Prices Are Determined in Bhubaneswar?

To compute the retail sale price of diesel in Bhubaneswar, the following methodology is used:

Retail selling price includes:  cost of crude oil, fuel cost after refining, price charged to dealer before VAT and fuel cost before VAT. 

  • The cost of crude is the effect of purchasing crude oil from international oil firms generated by oil marketing firms. Ocean cargo is also used for transport. 
  • The profit margin of oil marketing firms, freight, shipping expenses, refinery handling, entry taxes, and landing expenses are included in the fuel expense after refining.
  • The price billed to dealers before VAT is the amount of the cost of fuel after processing and the central government's excise duty.
  • The total of the price charged to retailers and the tax paid by pump retailers is the diesel cost before VAT.
  • The retail selling price is the gross of the cost of fuel before VAT, and the cessation of emissions and the tax levied by the state government.

Factors of influencing diesel rates in Bhubaneswar?

Diesel rates in India are dynamic in nature and are updated on a regular basis. As global fuel oil prices differ, diesel prices adjust on a regular basis in line with crude oil prices. The currency exchange rate, tax rates and operational costs, apart from the price of fuel oil, mainly impact diesel costs. The factors listed below are used to consider how diesel prices are impacted by multiple factors.

Price of crude oil- Crude oil is a commodity of foreign origin. The retail price of diesel will grow as the cost of fuel oil rises globally. Comparably, the retail selling price of diesel will drop as the cost of crude oil declines internationally. Crude oil prices are based on seasonal variability, currency exchange rate variations, global supplies and stocks, and political activities in oil-producing firms.

Exchange Rate: The rate at which one currency is exchanged with another is the exchange rate. The USD / INR pair is controlled by the Reserve Bank of India. The value of a USD against an INR is calculated by the bank. The cost of crude oil will drop if the value of the USD declines against the INR. The price of crude oil rises if the USD rises against the INR.

Excise duty and VAT- The state and central governments impose their tax in diesel price. The tax that the central government imposes on petrol will remain the same throughout the state, but the tax that the state government imposes on petrol will vary from state to state. The cost of fuel will rise if the central excise duty rises. Similarly, the cost of petrol will decline if the central excise duty falls.   

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X