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Diesel Price in Chandigarh (19th March 2024)

Today's diesel price in Chandigarh stands at Rs. 82.40 per litre. No change recorded in diesel's price compared to yesterday. Over the past 10 days, fluctuations have been observed, with prices ranging between Rs. 84.26 and Rs. 82.40. You can also view today's diesel prices in other districts of Chandigarh and compare them with the rates from the previous day, which already include state taxes.

Mar 19, 2024
₹ 82.40 ( ₹ 0.00 )

Last 10 Days Diesel Rate in Chandigarh

Date Price Price Change
Mar 18, 2024 ₹ 82.40 0.00
Mar 17, 2024 ₹ 82.40 0.00
Mar 16, 2024 ₹ 82.40 0.00
Mar 15, 2024 ₹ 82.40 -1.86
Mar 14, 2024 ₹ 84.26 0.00
Mar 13, 2024 ₹ 84.26 0.00
Mar 12, 2024 ₹ 84.26 0.00
Mar 11, 2024 ₹ 84.26 0.00
Mar 10, 2024 ₹ 84.26 0.00
Mar 9, 2024 ₹ 84.26 0.00

Daily & Monthly Diesel Price in Chandigarh : Graphical Representation

Historical Diesel Price in Chandigarh

  • Diesel Rate in Chandigarh, March 2024
  • Diesel Price
    1st March ₹ 84.26
    19th March ₹ 82.40
    Highest rate in March ₹ 84.26 ( March 1st )
    Lowest Rate in March ₹ 82.40 ( March 15th )
    Over all performance Falling
    % Change -2.21%
  • Diesel Rate in Chandigarh, February 2024
  • Diesel Rate in Chandigarh, January 2024
  • Diesel Rate in Chandigarh, December 2023
  • Diesel Rate in Chandigarh, November 2023
  • Diesel Rate in Chandigarh, October 2023
  • Diesel Rate in Chandigarh, September 2023

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.  

How Do Crude Oil Prices Affect Diesel Prices?

While the other charges that comprise diesel prices are mostly constant, the primary elements - the price of crude oil and the rupee's exchange rate against the dollar - have a significant impact on diesel prices. So, how do crude oil prices affect diesel prices in India

Demand and supply: Petroleum Exporting Countries Organization- Opec countries and their allies are the world's largest crude oil suppliers. Geopolitical developments govern Opec countries' policies. When there is an impact in any of these countries, the supply of crude oil is reduced. As a result, crude oil prices rise in international markets.Similarly, when there is a high demand for crude oil from other countries, prices tend to rise.
Geopolitical: Natural disasters or crises may cause a shortage or increase in demand for crude oil in the market.

This has an effect on crude oil prices in the market.
Reserves of crude oil: Oil-consuming and oil-supplying countries stockpile oil in anticipation of a rise in oil prices or a crisis. For example, when there is political upheaval or tension in oil-producing countries, they will be unable to produce as much oil as usual. The storage reserves would come in handy at that point. When oil prices are low, these countries stockpile it and distribute it throughout the economy.

What are the factors affecting Diesel Prices in Chandigarh?


Exchange Rate: Because crude oil is a global commodity, it is traded in USD, which is the base currency. If the base currency falls in value against the local currency, the price of crude oil falls. The cost of unrefined oil will rise if the base currency rises against the INR. Any changes in the cost of crude oil will eventually affect the retail selling price of diesel.

Crude Oil Price: The price of crude oil is affected by a number of factors. Seasonal fluctuations, weather conditions, crude oil demand in overseas markets, and political movements in oil-producing economies are the most common influencers. Variations in the cost of unrefined oil will have a direct impact on the final selling price of diesel.

Central Taxation and State Levies: The state VAT on diesel imposed by the government of Andhra Pradesh is relatively high. As a result, the price of diesel per litre in the state is high. The final selling price of diesel is also affected by the central excise duty.

What is the importance and cost of diesel in chandigarh?

Diesel is a commodity that is required for economic development. In terms of efficiency, quality, and stability, it offers a wide range of functionality. Diesel has superior strength effectiveness when compared to other oils.

Diesel is used in almost every industry, including transportation, warehousing, and shipping. After all, Chandigarh is one of the major cities where diesel consumption is steadily increasing. There is a strong demand for diesel in the city as the number of diesel-powered vehicles, manufacturing industries, and engineering firms grows. Everyone in Chandigarh should be aware of the process used to determine diesel prices, the breakdown of diesel prices, and the factors influencing diesel prices.A retail or dynamic diesel user must still understand whether GST affects the diesel rate. Let's look at the related sections that will delve deeper into both of these variables. The daily reform went into effect in June 2017, replacing the previous diesel pricing adjustment, in which the price is revised every two weeks.

How are Chandigarh's diesel prices determined?


The daily revision mechanism, also known as dynamic fuel pricing, currently determines diesel prices in Chandigarh. India implemented a new system to increase fuel pricing transparency in June 2017. All diesel bunks in the state, whether automated or not, must revise diesel rates on a daily basis, according to the new pricing system. Fuel pricing in automated bunks is handled automatically, but manually in non-automated bunks. This method considers daily fluctuations in global crude oil prices as well as the exchange rate. Changes in the exchange rate and crude oil prices occur on a daily basis, making changes in these two determinants easily communicated to end users. The most important advantage of dynamic fuel pricing is that dealers can implement the best inventory management practises.

How does the Dynamic Fuel Price mechanism affect the diesel price in Chandigarh?

The trending fuel pricing mechanism, also known as "dynamic fuel pricing," was implemented in June 2017, as mentioned in the preceding paragraph. This mechanism was put in place to keep diesel and petrol prices in Chandigarh and other Indian cities up to date.

The currency exchange rate between the US dollar and the Indian rupee, as well as the global crude oil price, are considered in the regular price update. Following the implementation of the mechanism across the country, all cities, including Chandigarh, will continue to use it for regular price transparency updates. As dynamic fuel pricing is implemented throughout India, including Chandigarh, the primary goals of this mechanism are to bring fuel price transparency so that the authorities are unable to regulate or exploit the OMC (oil marketing companies). As a result of considering this process, fuel station dealers can more easily control their wealth and resources.

The Effect of GST on Diesel Prices in Chandigarh

In India, GST is a type of tax levied on goods and services. It is currently being implemented in various states. Some goods and services will be subject to a 5% tax. Another category of goods and services will be subject to a 12% tax. GST is also levied at rates of 18% and 28%. Interestingly, diesel is not taxed under the GST framework because the implementation of GST on this commodity is expected to lower fuel prices. When the price of gasoline falls, the Central Government's funds suffer.

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