Diesel Price in Chandigarh (26th November 2020)
Todays diesel rates in Chandigarh are very sensitive to global crude prices. We have been seeing an uptick in global crude prices, which has also pushed diesel rates in Chandigarh higher. Also, prices of the petroleum product have now been aligned to market rates. This means diesel price in Chandigarh will rise each time, global crude prices rise and the rupee falls against the dollar.
Last 10 Days Diesel Rate in Chandigarh
| Date | Price | Price Change |
| Nov 25, 2020 | ₹ 71.16 | ₹ 0.00 |
| Nov 24, 2020 | ₹ 71.16 | ₹ 0.16 |
| Nov 23, 2020 | ₹ 71.00 | ₹ 0.18 |
| Nov 22, 2020 | ₹ 70.82 | ₹ 0.19 |
| Nov 21, 2020 | ₹ 70.63 | ₹ 0.20 |
| Nov 20, 2020 | ₹ 70.43 | ₹ 0.26 |
| Nov 19, 2020 | ₹ 70.17 | ₹ 0.00 |
| Nov 18, 2020 | ₹ 70.17 | ₹ 0.00 |
| Nov 17, 2020 | ₹ 70.17 | ₹ 0.00 |
| Nov 16, 2020 | ₹ 70.17 | ₹ 0.00 |
Daily & Monthly Diesel Price in Chandigarh : Graphical Representation
Historical Diesel Price in Chandigarh
- Trend of Diesel Rate in Chandigarh, November 2020
- Trend of Diesel Rate in Chandigarh, October 2020
- Trend of Diesel Rate in Chandigarh, September 2020
- Trend of Diesel Rate in Chandigarh, August 2020
- Trend of Diesel Rate in Chandigarh, July 2020
- Trend of Diesel Rate in Chandigarh, June 2020
- Trend of Diesel Rate in Chandigarh, May 2020
Previously, the diesel price in Chandigarh is updated every fortnight. Today, since about June 15, 2017 , the price of diesel is updated ona regular basis at 6 AM every morning. This transformation was developed by the leading petroleum firms of India. The petroleum firms in India are making the transition. If you are going to fuel Diesel, it is recommended that it is best to monitor the Diesel price prior to filling because the price is updated every day. You must rely on goodreturns.in for the best and modified Diesel rates. It is advisable to review the rates early in the morning before you head to your job as the prices can adjust early in the morning at 6 AM. Typically, the price pick or decline will be in a minimal. If you fill up small amounts, it won't make a huge difference because the rates will adjust on a regular basis, tracking the rates will give you a sense that this will be a low price or a high price in the long run. The price adjustment is due to fluctuations in the international markets of crude oil. In Chandigarh, diesel prices would increase if crude oil prices climb in the international markets and conversely.
How to check the correct diesel price of Chandigarh through SMS and Toll-free numbers?
Numerous methods for tracking daily diesel price of Chandigarh have been introduced by the Top Indian Oil Firms.
Indian oil firms have introduced many ways, such as mobile apps, SMS service, and toll-free numbers to monitor the correct diesel price without paying any hidden cost. Consequently, simply follow the easy ways listed below to check the current diesel price of Chandigarh through SMS and toll-free numbers.
Through SMS- Type RSP DEALER CODE and send it to 9224992249
By dialling the following toll-free numbers of the oil companies, you can easily locate Chandigarh’s latest diesel rate instantly from the comfort of your residence or office.
Indian Oil- 1800 233 3555
Bharat Petroleum- 1800 22 4344
Hindustan Petroleum- 1800 233 3555
Through implementing the dynamic fuel pricing approach since June 2017, oil firms are regularly monitoring and updating the diesel price of Chandigarh across their respective mobile app and official website. Additionally, diesel price of Chandigarh depends on various factors. Diesel rate varies from state to state in India various charges and applied tax.
What Do You Mean By Dynamic Fuel Pricing Mechanism?
On June 16, 2017, the OMCs (Oil Marketing Companies) of the public sector launched the "dynamic fuel pricing" mechanism to change fuel prices on a daily basis based on market conditions and several other factors. Petrol and diesel rates were updated on the first and sixteenth days of each month before this mechanism was implemented. That's why it was called "fortnight fuel pricing." However, it had a range of drawbacks, and to address them the method of dynamic pricing was implemented. Diesel, unlike petrol, is utilized not only for transportation but also for construction processes as well. Fuel plays a key role in any nation's financial sustainability. The Dynamic Fuel Pricing System (DFPS) is a mechanism that regulates fuel prices on a regular basis in line with exchange rates and unrefined or crude oil rates. At 6:00 a.m every day, the price change takes place. It is also highly important to check the price of diesel before you fuel your automobile. Since 16 June 2017, in Chandigarh, all diesel dealers have been pursuing this new fuel pricing structure. After running a 40-day pilot in five cities in India, the dynamic fuel pricing system was introduced in India. As governments are unable to access oil marketing companies (OMCs), hence fuel price stability is provided by the mechanism. It will be convenient to report fluctuations in crude oil prices and the INR / USD exchange rate to end-users under this mechanism. Dealers are able to handle their stocks and working expenses quickly. Due to the process of dynamic fuel pricing, the integration of customers with market dynamics continues.
What makes diesel rates to be revised regularly in Chandigarh?
Under the 'Dynamic Fuel Pricing' method, diesel rates are updated in Chandigarh and in other cities across India. State-owned oil firms, such as Indian Oil, Bharat Petroleum and Hindustan Petroleum, include the international crude oil price of the preceding day and the US dollar exchange rate retail selling price (RSP) of diesel or petrol. In Chandigarh, the diesel price is updated every day at 6 a.m. IST, focused on the process of dynamic fuel pricing. India used to adjust or modify fuel prices every fortnight prior to the regular revision in diesel prices. Oil companies, nevertheless, had to queue a fortnight to raise or decline the price of diesel, which resulted to liabilities. Therefore, on 16 June 2017, the fortnightly approach was discontinued and the dynamic fuel pricing system was adopted. Through the regular revision of diesel rates, oil firms is effectively able to pass on to consumers the downturn or increase of crude oil costs. Under the current trading framework, both consumers and oil companies can take advantage of the current global price of crude oil.
Factors influencing the diesel rates in Chandigarh
Now since we know that diesel rates are changed on a regular basis, let's discuss what variables decide the price change of diesel. More than 70% of India's crude oil is imported from oil-producing countries, making it a vital and costly commodity throughout India. The price of crude oil constitutes the main or base rate of the price of diesel in India.
Currency exchange rate- Crude oil trade exists in US dollars, and is competitive in nature. The cost of purchasing crude oil climbs as the US dollar increases over the Indian Rupee, and vice versa. Hence, one of the factors affecting the regular adjustment of diesel prices in India is the exchange rate of the US dollar.
International Crude Oil Price- Diesel is acquired in its crude nature, which is then processed in the country and marketed. Owing to the rise or decline in crude oil demand, the global crude oil price is volatile in nature as it increases. It's often affected by a supply deficit, international conflicts, or rising demand.
Excise Duty & Value Added Tax (VAT) on Diesel- Two separate taxes are, in existence, the Central Excise Duty (levied by the central government) and the VAT (Value Added Tax). These taxes are added to the price set to the diesel bunker's distributor. And the price after the imposition of the Central Excise and VAT, which varies from region to region, relates to the dealers' commission.
Margin of oil companies and dealer’s commission- Crude or unrefined oil is imported from countries that manufacture oil and is then processed and delivered to the country's retail stores. Therefore, oil companies add their net profit and other operating expenses into the price of diesel before it is distributed at a filling station. Even, to the final selling price of diesel, dealer commission (commission to fuel station owners) is related.
