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Diesel Price in Delhi (29th March 2024)

Delhi, the official National Capital of India is a union territory of India. The city has a population of more than 11 million and accords for the second most populous city in the country. The city contributes around $167-$370 billion for the economy of the country. The city has witnessed growth at a rapid pace which has led for more number of people owning private vehicles.

As per the reports, the total number of two-wheeler vehicles registration during 2012 in Delhi stood at 4,661,714 as against 4,395,086 during the previous year of 2011, up by 6.06%. The city has highest road density as well as the largest number of registered cars in the country.

City Today Price Yesterday Price
Central Delhi ₹ 87.62 ₹ 87.62
Delhi Shahdara ₹ 87.62 ₹ 87.62
East Delhi ₹ 87.62 ₹ 87.62
New Delhi ₹ 87.62 ₹ 87.62
North Delhi ₹ 87.62 ₹ 87.62
North East Delhi ₹ 87.62 ₹ 87.62
North West Delhi ₹ 87.62 ₹ 87.62
South Delhi ₹ 87.62 ₹ 87.62
South East Delhi ₹ 87.62 ₹ 87.62
South West Delhi ₹ 87.62 ₹ 87.62
West Delhi ₹ 87.62 ₹ 87.62

Crude oil products are consistently on a rise in India with the increased industrial activity that boost the production and delivery of the products. This year in 2024, it is expected to be the 16th year of consecutive yearly rise for the demand of crude oil and petroleum products.

Diesel is one of the significant crude-oil based fuel that has more consumption in transport vehicles than passenger vehicles. The heavy trucks and lorries that travel across the country, state and cities are fuelled with Diesel which becomes critical for transport businesses, especially in Delhi. The strong consumption around the region makes diesel rates in Delhi more impacting to logistics. The high weight-age of the loadings in the trucks increases the fuel consumption of the vehicles and since there are no alternative options available for heavy transport vehicles in the near future, a strong demand for Diesel fuel consumption is expected ahead for this year. A vibrant demand points to a stable diesel price in Delhi as well as other parts of NCR.

One of the major car manufacturer of the country notifies this year that among their best model sold this year, 97% of the model were diesel variants and the rest were petrol variants.

The Indian government have adopted norms to push consumers towards petrol and EV options rather than diesel engines. Moreover the diesel prices in Delhi, Mumbai, Chennai, Bangalore, Kolkata and major Indian cities are kept high for making consumers reluctant. Despite the government regulations strictly pushing for diminishing usage of diesel variants, consumers are firmly holding their grip on diesel variant cars.

What Aspects Determine Delhi Diesel Rates?

The major factors which have serious implications on diesel prices in Delhi are the following:

Domestic consumption of diesel in Delhi is high due to the increase in diesel variant passenger vehicles despite government regulations against it. The surging usage would keep Delhi diesel rates at a stable level for the times ahead.

Revenue collection from sales is one of the important factors that makes central government surge the diesel prices in Delhi as well as other major parts of the country. Fuel tax collection is one of the highest contributor towards government treasuries and when the government decides to increase infrastructure and services to meet budget expectations, Delhi diesel prices would be impacted.

Government Norms & Regulations are made frequently in the current political tenure of the central government which has strategically made changes in petrol and diesel prices in India. When there are new updates and trade agreements with Crude Oil exporting countries, diesel rates in Delhi would have a positive effect with surging supply.

Election Season is another tenure for diesel prices in Delhi to expect a pull back. The ruling party in the central and state governments have historically utilised fuel prices in India to grab significant attraction in vote share. A cut in diesel prices in Delhi along with other parts of the country by the central government has multiple effects of daily food and other consumption cost.

Hence, a relief in their expense would help them remember the efforts taken by the government.

Apart from the domestic aspects, international factors also play an influential role for Delhi diesel prices since if there is war situation in any major economies of the world, or geopolitical conflicts in the oil exporting countries, a supply disruption in global markets is evident. This would have impacts on Indian fuel prices and slight effect is witnessed in Delhi diesel rates as well.

Revision of Diesel Prices in Delhi

Diesel prices are revised on a daily basis as per the dynamic fuel pricing technique in Delhi starting from June 16, 2017. As per this system, the diesel prices get changed regularly starting at 6 am in the morning across all the fuel filling stations in sync with global crude oil prices. The move is to bring in more transparency in diesel pricing and to pass on the profit in diesel prices to the end consumers.

These revised prices can be checked by the consumers by checking the oil marketing companies websites (Indian Oil, Hindustan Petroleum, Bharat Petroleum) or by downloading an application which gives a regular update on diesel prices in the mobile phone or by even sending an SMS to the respective oil retailers along with the dealer code.

If the petrol pump belongs to Hindustan Petroleum, then send an SMS to HPPRICE DEALER CODE and send it to 9222201122.

Or

For Indian Oil Corporation, send SMS to RSP DEALER CODE and send it to
9224992249.

Tax Rate on Diesel Price in New Delhi

The respective state governments in India levies state based Value Added Tax (VAT) on fuel prices in India. Delhi is a Union Territory and hence only VAT is applicable on diesel rates. The tax rates on fuel in the New Delhi is less compared to the rest of the states in India and hence the prices of petrol and diesel in Delhi costs less when compared to other cities in India.

Currently, the state-based VAT of diesel price in New Delhi stands at 17.25%.

Latest Updates on Diesel Price in Delhi

Diesel Prices in New Delhi Unvaried

The diesel prices in New Delhi were unvaried despite a drop in the global crude rates in the global markets as oil demand slumps owing to a surge in the pandemic cases in China, growing tensions between Russia – Ukraine; loss of crude production in Libya. The diesel rates in New Delhi remained at Rs 96.67 per litre.

In the global markets, Brent traded at $102.30 per barrel; down by 4.05% and West Texas Intermediate (WTI) at $97.80 per barrel; down by 4.18%.

On Monday, the crude rates dipped by around 4% amidst a growing number of pandemic cases in China. The dragon country has been struggling to contain the worst outbreak of the pandemic despite stringent lock-down restrictions imposed by the local authorities in Shanghai. Over the weekend, Beijing warned that the pandemic has started spreading undetected for about a week.

China's covid situation and ongoing tensions between Russia and Ukraine are affecting the fuel price outlook. Russia's invasion of Ukraine has shrunk the crude supply due to the imposition of sanctions by Russia. Many customers have stopped purchasing Moscow's oil, yet the market could tighten further with a potential ban on Russia's crude exports from the European Union.

Libya is also facing disruption in the fuel production process owing to political tensions and shut down of operations. The nation is losing over 550,000 barrels per day of crude in production due to unrest. So far, the Zawiya oil refinery has suffered damage after armed clashes.

25 April 2022
Diesel Prices Stagnant in New Delhi

The diesel prices are stagnant in New Delhi despite marginal gains in the fuel prices in the international markets as U.S. crude stockpiles continue to surge. The diesel rates in New Delhi were seen at Rs 96.67 per litre.

In the overseas scenario, Brent was seen at $111.7 per barrel, up by 2.68%, and West Texas Intermediate (WTI) at $107.00 per barrel, up by 2.59%.

Since the outbreak of the pandemic crisis, crude prices witnessed a rampant downfall. Over a while, the release of vaccines to combat the pandemic has uplifted the crude prices globally. Yet, the recent invasion of Ukraine by Russia has uplifted the oil prices to jump.

Analysts note that prices are up by over 70% year-over-year, offsetting worries of a second pandemic price fall and inflation. The bulk of the projected rise in the U.S. crude production to the tune of 1.13 million bpd comes from the Permian Basin.

The military invasion of Ukraine by Russia beginning on February 24 has forced many Western nations to avoid the usage of Moscow's oil in a bid to show their solidity with Ukraine. Despite stiff resistance to the usage of Russia's oil by a few Western Countries, many countries across the globe are finding it difficult to find an imminent alternative for Russia's crude supply at the moment.

Compared to last year, U.S. fuel prices are up by around $30 to $40 per barrel. Most of the private firms in America have scaled up their production activity with the focus in to trim down debt and increasing shareholders' payouts. As of now, few publicly traded companies have vowed to improve returns after years of witnessing overspending.

16 April 2022
Diesel Prices Cut By 12 Paise in Delhi

The prices of diesel have been cut in Delhi by 12 paise per litre bringing down the total price to Rs 68.35. The move comes in amidst the drop in the crude oil prices in the global market.

The domestic oil marketing major, Indian Oil Corporation announced about the price cuts in its official website. The price change comes into effect starting from 6 am in the morning.

The rates of crude oil fell in the global market as the OPEC member countries have increased the oil output production as discussed during the last month’s OPEC meet. The increase in the supply of oil has kept the rates of fuel under check and has thus led to the decline in the crude oil rates in the global market.

India depends on oil imports to a great extent from oil-producing countries. Around 80% of oil imports are required to fulfill the domestic requirements, which has led to the increase in the import bill of the country.

19 July 2018
Diesel prices in New Delhi gain

Diesel rates in New Delhi gained ground after oil marketing companies like Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum raised the prices of diesel.

The gains in the prices of diesel was to the extent of 22 paise. Consumers have been disgruntled paying for such high fuel prices, especially since the raise has been very sharp.

If the trend continues, the government may be forced to intervene, especially where diesel prices are concerned.

There are reports that the government may act, by reducing the excise duty on the fuel. It may ask oil marketing companies to either shoulder part of the burden or may ask, ONGC to bear the windfall gains from a rise in crude. Brent Crude prices have rallied significantly in the last two months, especially after US President Donald Trump cancelled a proposed nuclear deal with Iran.

27 May 2018
Diesel price in New Delhi move higher

Diesel prices in Delhi has moved higher by almost Rs 2, to Rs 68.04 on May 23 from Rs 66.14 seen on May 14. This kind of increase in diesel prices has never been witnessed before. 

If the present trend continues, consumers are worried that it may have a significant impact on their budget as consumables, FMCG goods and fruits and vegetable prices could trend higher. 

Oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum have now raised rates for 10 straight days. 

In fact, private sector peers have also raised rates a great deal in line with those being charged by government owned enterprises. 

Brent crude has now rallied past the 81 dollars per barrel mark. The recent decision by US President Donald Trump to cancel the Iran nucelar agreement is what has propelled crude higher. 

In India, the currency has also weakened adding to further pressures on the Indian rupee. It is unlikely that we  will see diesel prices falling anytime soon. 

23 May 2018
Diesel prices hit new record in New Delhi

Diesel prices in New Delhi, hit a new record, as crude oil prices continued to surge. In fact, diesel rates in New Delhi rose for the seventh straight day, taking the fuel price to Rs 67.82 per litre in Delhi.

The fuel has jumped by Rs 1.50 in the last one week alone. Diesel rates in Delhi have been hit by a double whammy of sorts. On the one hand, we have seen crude prices rising and on the other hand, we are seeing a sharp drop in the Indian rupee. Both these factors tend to impact rates.

This is also not going to be good news for consumers, who have been reeling under the impact of higher prices. Going ahead, we may see a further escalation in rates, should crude oil prices rally.

This is also likely to keep inflation at elevated levels in the near future. The rupee has also fallen below Rs 68, thus increasing Delhi diesel prices rates even more.

 

21 May 2018

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