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Diesel Price in Jaipur (27th October 2020)

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

Oct 26, 2020
₹ 79.27 /Ltr ( ₹ -0.17 )

Last 10 Days Diesel Rate in Jaipur

Date Price Price Change
Oct 25, 2020 ₹ 79.44 ₹ 0.17
Oct 24, 2020 ₹ 79.27 ₹ 0.00
Oct 23, 2020 ₹ 79.27 ₹ -0.63
Oct 22, 2020 ₹ 79.90 ₹ 0.40
Oct 21, 2020 ₹ 79.50 ₹ 0.55
Oct 20, 2020 ₹ 78.95 ₹ -0.43
Oct 19, 2020 ₹ 79.38 ₹ 0.11
Oct 18, 2020 ₹ 79.27 ₹ 0.25
Oct 17, 2020 ₹ 79.02 ₹ 0.02
Oct 16, 2020 ₹ 79.00 ₹ -0.38

Daily & Monthly Diesel Price in Jaipur : Graphical Representation

Historical Diesel Price in Jaipur

  • Trend of Diesel Rate in Jaipur, October 2020
  • Diesel Price
    1st October Rs.79.62
    31st October Rs.79.27
    Highest rate in October Rs.79.90 on October 22nd
    Lowest Rate in October Rs.78.95 on October 3rd
    Over all performance Falling
    % Change -0.44%
  • Trend of Diesel Rate in Jaipur, September 2020
  • Trend of Diesel Rate in Jaipur, August 2020
  • Trend of Diesel Rate in Jaipur, July 2020
  • Trend of Diesel Rate in Jaipur, June 2020
  • Trend of Diesel Rate in Jaipur, May 2020
  • Trend of Diesel Rate in Jaipur, April 2020

The diesel price of Jaipur is updated every two weeks previously. But from June 2017, the price is updated every day morning at 6 AM. The transformation has been introduced by the oil firms of India. Before filling, it's wise to research the Diesel price if you're going to fill up Diesel because the rate will shift every day. By visiting the Goodreturns.in every day, you can keep in touch with the current diesel rates on a daily basis. Apart from Jaipur, Goodreturns has also covered the latest price of both petrol and diesel for all the cities of the country. Considering that the rates will be changed early in the morning at 6 a.m., it is advised that you check the prices early morning before going to the office or filling your vehicle. Usually, the price drop or rise is just a statistic so it is advised that you review the regular diesel prices as it will help you preserve your capital. If you fill in low amounts, it would not have a significant effect since the prices would be changed on a daily basis, following the pricing will give you a feeling that in the near future this would be a reasonable price or a high cost. The price spike is due to the rise in international crude oil prices. Jaipur 's diesel prices will increase if the price of crude oil in foreign markets increased, and conversely. 

The capital city of Rajasthan is Jaipur. In all respects the city has seen enormous GDP growth, including industrial productions. Stable diesel delivery is vitally important. Otherwise, it would adversely affect economic operations. The oil firms in India have a significant role to play in ensuring that diesel, petrol and even petroleum commodities are delivered regularly. Unlike petrol, Diesel can be used for many purposes. The modification in diesel price conducted by considering a number of factors which includes changes in exchange rates value and the cost of crude oil. In order to change fuel prices, Indian fuel retailers have been obligated to consider the dynamic fuel pricing strategy. This method is called dynamic fuel pricing system. This mechanism was implemented on June 2017 across India. This mechanism of regular modification of fuel prices has been beneficial since the launch for oil marketing companies, dealers, diesel consumers, the state government and the central government respectively. To trace the correct diesel rate of Jaipur is a challenging role.  The use of smartphone applications developed by Indian Oil Company, Bharat Petroleum Company and Hindustan Petroleum Company is recommended to fuel consumers from the city of Jaipur to track the latest diesel rate of the city. Bharat Petroleum provides SmartDrive whereas Hindustan Petroleum provides My HPCL. Indian Oil is provided by Fuel@IOC. In order to access the current fuel prices in Jaipur, fuel consumers can also consider SMS services and the official website of those companies. 

Introduction of Dynamic Fuel Pricing

In order to change fuel prices, Indian fuel retailers have been allowed to follow the dynamic fuel pricing approach.

This system is known as the dynamic fuel pricing system in India. After conducting a 40-day trial in 4 cities, India launched it in the month of June 2017. Based on global crude oil cost fluctuations under dynamic fuel pricing, diesel prices in Jaipur will therefore adjust regularly. It is a completely updated version of the previous approach of fuel revision. Oil selling firms, dealers, diesel consumers, the state government and the central government are beneficial by following the Dynamic Fuel Pricing mechanism. 

Benefits of dynamic fuel pricing

  • Dynamic fuel pricing will balance diesel consumers with the fluctuations of the overseas market. Hence, it is possible to reduce speculative market components.
  • In India, the fuel retailing industry can be compatible with foreign markets. The current initiative decreases the effect of cash flow on fuel firms.
  • In the fuel retail sector, the daily modification system encourages the contribution of private companies. And hence, in the fuel retailing market, best practises can be introduced.
  • It also reduces the political tensions on fuel pricing, bringing 100% flexibility to the Jaipur diesel price modification.
  • In some developed countries, such as Japan, Australia and the United States of America, the regular revision method is practically an international standard.
  • There are some countries where in a single day the gasoline prices can differ twice or thrice.    

What Are The Factors Influencing The Diesel Rates in Jaipur?

In India, diesel prices are dynamic in nature and are regularly modified. As the cost of global fuel oil varies, diesel prices are changed on a daily basis in accordance with the price of global oil. Excluding the price of fuel oil, the currency exchange rate, tax rates and operational costs primarily influence the cost of diesel. To understand how diesel rates are influenced by different factors go through the below listed aspects. 

US Dollar Exchange Rate: Crude oil trade on the global market occurs in US dollars, so any variation in the exchange rate of the currency tends to affect the selling price of crude oil. If the US price hikes, the cost of producing crude oil rises, and conversely. If the Indian Rupee is weaker than the US dollar, the cost of importing oil rises when oil companies import a barrel of crude oil, thus increasing the cost of diesel in the Jaipur city. 

Price of crude oil- More than 70% of its crude oil is purchased by India from oil-producing nations. India's major imported commodity is fuel, which makes it an expensive commodity, is crude oil. Thus, any change in the price of crude oil affects the price of diesel in the region. Owing to demand and supply trends, political disputes, supply improvements or declines, refining or unrefined changes in oil markets. Any drop in demand or shortage in supplies results in a rise in the cost of crude oil, resulting in an increase in the price of diesel fuel in the area. 

OMCs’ Profit Margin & Dealer Commission- Oil companies import crude oil from oil-producing countries, extract it to diesel and sell it to all fuel stations around the country. These organizations add their gross margins and other operational charges in the RSP (retail selling price) of diesel. They also add revenue to the final selling price of diesel from the nation to dealers or the operator of the filling station. Any modification to these rates will result in adjustments in diesel prices in Jaipur

Taxation- The main section of the diesel pricing mechanism is the taxes levied by the Central and the State. Throughout the nation, the excise duty and the sales tax or value added tax levied by the state government are similar. Any modification of the tax rates would, however, lead to a shift in the cost of diesel. 

What are the other components influencing the diesel price of Jaipur?

In Jaipur, diesel rates are compiled of many essential elements, aside from the oil price and the rupee-dollar exchange value. During the refining phase prior to landing on the regular fuel bill, factors such as entry duty, freight costs, refinery costs, oil company's margin and transportation charges are determined. The basic fuel rate will consequently be added to the commission of the petrol pump's operator, the excise duty levied by the Centre and the local tax or VAT of the relevant State. The global crude oil price and the rupee-dollar exchange rate are volatile because most of the elements compensated are not volatile. Therefore, the major reason why diesel prices in India vary is because of these two factors. Let's examine the factors behind international demand for the price of crude oil.

Demand and supply of crude oil- The Organisation of Petroleum Exporting Countries (OPEC) and its large partners have become the world's leading producers of crude oil and have had a major effect on oil prices. The strategies of OPEC are guided mainly by international developments. Therefore, any burden on all OPEC members often contributes to a decline in oil production and a consequent drop in crude prices. 

Future supply of crude oil- The leading oil-producing and oil-consuming countries are stockpiling large quantities of crude oil to maintain a stable economy in the event of an increase in oil prices. These countries usually stock up when prices are lower, and production is spread across the economy to keep prices steady.

Geopolitical tensions- A increase in the price of crude oil is correlated with global events and fluctuations. In some of the oil-producing countries, conflicts could inevitably tie up supplies and thus raise oil prices. Any event, such as environmental threats or any global uncertainty, also impacts the price of oil. 

 

 

 

 

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