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Diesel Price in Karnataka (13th November 2018)

Karnataka is one of the most famous states in the Southern part of India. Bengaluru is the largest city as well as the capital city of Karnataka. The state stands in the eight position in terms of demography and is the seventh largest state in terms of area in the country. The state contributes close to Rs 14.08 lakh crore for the economy of the country and the per capita GDP of Rs 157,000.

With the increasing population, the people are depending more on private vehicles in the state leading to more use of fuel in the state. The total number of new private vehicles registering in the state of Karnataka is growing at an astonishing rate year-on-year basis.

City Today Price Yesterday Price
Bagalkot ₹ 73.29 ₹ 73.19
Bangalore ₹ 72.74 ₹ 72.85
Bangalore Rural ₹ 72.48 ₹ 73.07
Belgaum ₹ 73.16 ₹ 72.96
Bellary ₹ 73.88 ₹ 74.15
Bidar ₹ 73.45 ₹ 73.60
Bijapur ₹ 72.77 ₹ 72.89
Chamrajnagar ₹ 72.75 ₹ 73.15
Chikkaballapura ₹ 73 ₹ 72.92
Chikmagalur ₹ 73.58 ₹ 73.53
Chitradurga ₹ 73.70 ₹ 74.06
Dakshin Kannad ₹ 72.07 ₹ 72.22
Davangere ₹ 73.77 ₹ 73.90
Dharwad ₹ 72.63 ₹ 72.78
Gadag ₹ 73.26 ₹ 73.12
Gulbarga ₹ 72.92 ₹ 72.84
Hassan ₹ 72.63 ₹ 72.73
Haveri ₹ 72.96 ₹ 73.55
Kodagu ₹ 73.07 ₹ 73.56
Kolar ₹ 72.53 ₹ 72.84
Koppal ₹ 73.69 ₹ 73.80
Mandya ₹ 72.37 ₹ 72.67
Mysore ₹ 72.37 ₹ 72.88
Raichur ₹ 72.80 ₹ 73.32
Ramanagara ₹ 72.91 ₹ 72.90
Shimoga ₹ 73.40 ₹ 73.67
Tumkur ₹ 73.31 ₹ 73.36
Udupi ₹ 72.24 ₹ 72.82
Uttar Kannad ₹ 73.69 ₹ 73.96
Yadgir ₹ 73.07 ₹ 73.34

What are the factors which affect the diesel rates in Karnataka state?

Cost of the Crude oil – The cost of the crude oil in the global market plays a very important role in determining the diesel prices in the domestic market. The rising crude oil prices in the global market will lead to high diesel prices in India and vice-versa. India majorly imports crude oil and at the same time it follows dynamic fuel pricing technique wherein the pricing of petrol and diesel are revised on a regular basis in sync with the movement of crude oil prices in the global market to encourage transparency.

Tax Rates – The tax rates for diesel depends on the local government policies on imposing taxes on fuels. As and when the respective government of India raises the tax on fuels the oil companies will also increase the price of diesel in India to recover losses and to maintain the marginal profits in its oil business.

The recent government in Karnataka has increased the tax rate of diesel from 19% to 21% and hence the prices of diesel in the state of Karnataka is costlier by Rs 1.12 per litre starting from July 6, 2018. The hike was introduced as a measure to gain revenue from additional resources after the government announced a farm loan waiver scheme to benefit the farmers of the state.

Rupee Value – The value of the Indian rupee against the U.S. dollar also is the main factor in determining the diesel price in the country. Crude oil is priced in terms of dollars. A strong dollar will make the crude oil costlier for the holders of other currencies which in turn will surge the domestic diesel prices in India and the weak dollar will make the crude oil cheaper for the other countries currencies. The oil marketing companies in India pay for the crude oil in terms of dollars whereas they incur expenses in terms of the Indian rupee.

Logistics – Logistics also acts as a factor which affects the pricing of the diesel in India. Diesel transported to longer distances to cities or regions farther from depots will be priced higher than the places nearer to the storage area of the oil companies. The difference may be huge between cities which are far from each other this is the reason behind the difference in prices of diesel in different cities across the country.

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