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Diesel Price in Lucknow (4th December 2020)

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

Dec 4, 2020
₹ 73.60 /Ltr ( ₹ 0.43 )

Last 10 Days Diesel Rate in Lucknow

Date Price Price Change
Dec 3, 2020 ₹ 73.17 ₹ 0.19
Dec 2, 2020 ₹ 72.98 ₹ 0.44
Dec 1, 2020 ₹ 72.54 ₹ -0.21
Nov 30, 2020 ₹ 72.75 ₹ 0.00
Nov 29, 2020 ₹ 72.75 ₹ 0.47
Nov 28, 2020 ₹ 72.28 ₹ 0.09
Nov 27, 2020 ₹ 72.19 ₹ 0.22
Nov 26, 2020 ₹ 71.97 ₹ 0.17
Nov 25, 2020 ₹ 71.80 ₹ 0.00
Nov 24, 2020 ₹ 71.80 ₹ 0.20

Daily & Monthly Diesel Price in Lucknow : Graphical Representation

Historical Diesel Price in Lucknow

  • Trend of Diesel Rate in Lucknow, December 2020
  • Diesel Price
    1st December Rs.72.54
    4th December Rs.73.60
    Highest rate in December Rs.73.60 on December 4th
    Lowest Rate in December Rs.72.54 on December 1st
    Over all performance Rising
    % Change +1.44%
  • Trend of Diesel Rate in Lucknow, November 2020
  • Trend of Diesel Rate in Lucknow, October 2020
  • Trend of Diesel Rate in Lucknow, September 2020
  • Trend of Diesel Rate in Lucknow, August 2020
  • Trend of Diesel Rate in Lucknow, July 2020
  • Trend of Diesel Rate in Lucknow, June 2020

Earlier the Lucknow Diesel price adjusted every two weeks. Now the rate is updated at 6 AM every day morning from June 15, 2017. The oil firms in India have implemented this transition. It is best to review the Fuel price before fuelling if you are going to fill Diesel because the cost will change every day. You should search on goodreturns.in for the best and modified Diesel rate of Lucknow as well all the cities of India. As the rates will adjust early in the morning at 6 AM, it is recommended that you review the rates early morning before you go to your workplace or before fuelling your vehicle. Typically, the price pick or decline is just a figure but it is recommended to check the diesel rates daily as it will help you to save your money. If you fill up minimal quantities, it won't make a huge impact because the rates will adjust on a regular basis watching the rates would give you a sense that this will be a low price or a high price in the near future. The price rise is due to increase in the global crude oil prices. Diesel prices of Lucknow would spike if crude oil prices surge in overseas markets, and vice versa. 

Revision of diesel rate in Lucknow

Changing the price of the Diesel wasn't easy before.

There was relatively few changes in diesel rates for the first couple of days. This small change in Lucknow's diesel price, such as 10 or 15 paise, would not seem like a market burden. But if the price increases by Rs 3 or Rs 5 every two weeks the consumer may have trouble before accepting it. We frequently provide Diesel rates on goodreturns.in. Which means that you must regularly visit our site to check the current diesel price of Lucknow and also you can the today’s diesel price with the previous day or month. So it is suggested to check the diesel price on a regular basis by visiting Goodreturns before fuelling your vehicle. We provide the updated and correct diesel rates of all the cities including Lucknow and this regular update in diesel prices are largely dependent on what the global market situation is like. And when global prices of crude oil increase, Lucknow's price increases too. Hence, the diesel price in Lucknow’s is set depending on the differing factors of demand for oil and the cost of imports. Because of the different tariffs and fuel taxes, Lucknow's diesel prices can vary slightly from other cities of Uttar Pradesh. 

List of factors influencing the diesel rate in Lucknow

The diesel price of Lucknow is influenced by number of factors which are listed below.

Supply and demand- The price of crude oil, which is among the most critical factors of the selling price of diesel, is influenced by the international demand and supply of crude oil. The last two years have seen an unprecedented rise in crude oil prices worldwide due to disruptions in the production of crude oil.

Gaps in supply and demand- Diesel is primarily a substitute for transportation. Tweaks at refineries or inadequate and sluggish imports contribute to unexpected disruptions of diesel supply. The disparity between fuel demand and supply contributes to adjustments in the price of retail sales. 

Seasonality- Over the summer, diesel prices will decline a little, rise during the decline and rise during early spring. The demand for diesel decreases as the use of gasoline increases during the summer. The lesser the requirement for diesel, the cheaper the price would be.

Geographical alterations- There are more diesel prices for fuel stations that are farthest from the supply and refinery centers to account for the expenses made in transporting the diesel. Local market factors influence the retail selling price of diesel such as traffic trends, the availability of retail diesel bunks or stations and tax levied by the state government. 

VAT and the Central Excise Duty- The state VAT and excise duty levied by the state governments and central government respectively are fixed.  The retail selling price of diesel will be equally affected by any differences in these two tax elements.

Currency exchange rate- The value of the USD against the national currency is assessed by the central bank of India. Some influences, such as interest rates, inflation costs , import and export trends and the accumulated public debt of India and the US, influence the exchange rate. Focused on the exchange rate, the price of crude oil will differ. 

Impact of GST on diesel rates in Lucknow

The GST is a value-added tax that is levied on all forms of goods and services sold for domestic demand. GST is charged by end-users, but is paid to the government by retailers. In essence, for the government, GST is a significant source of income. Since diesel was not implemented under the GST system, GST has no effect on diesel prices in Lucknow. The new fuel price in Lucknow dropped by 20-30 percent if GST is levied on diesel.

Dynamic Fuel Pricing Mechanism in Lucknow

Today, the "dynamic fuel pricing mechanism" process is adopted not only by Lucknow, but also by every region (small and large) throughout India. It was introduced on June 16, 2017 to address the current system's disadvantages. Earlier, the fuel prices were revised at 8:00 a.m. on the first and sixteenth days of each month. IST (Indian Standard Time) centered on the preceding day's international crude oil prices and other fuel patterns. This was referred to as the "fortnight pricing mechanism." This had many pitfalls, though. Not only have the oil marketing firms frequently suffered significant loss, but the government could also easily control the price. The "dynamic" framework was applied to introduce consistency or transparency to the framework. This process is one that has been adopted by most developed countries to date. The rates are changed every morning at 6:00 a.m. according to this system. IST (Indian Standard Time), relying on the CER (Currency Exchange Rate) of the preceding day and the global price of crude oil.

Impact of GST on diesel price in Lucknow

The GST is a value-added tax that is levied on all forms of goods and services sold for native demand. GST is paid by end-users, but is compensated to the government by retailers. In essence, for the government, GST is a primary source of income. Since diesel wasn't really implemented under the GST system, GST has no effect on diesel prices in Lucknow. The current price of diesel in Lucknow will shrink if GST is levied on diesel.

How diesel rate is influenced by the Dynamic Fuel Pricing in Lucknow?

In June 2017, the "dynamic fuel pricing" system was launched. This strategy was introduced in order to adjust the price of diesel or petrol regularly throughout India. Taking into consideration the currency value between the US dollar and the Indian Rupee and the price of crude oil, the diesel price is modified or determined. This framework continues to be adopted by all metropolitan areas as well as Lucknow for a regular price change after the approach is applied in India.  The key purpose of this phase is to clarify diesel prices and because competitive fuel pricing has been implemented across parts of India, governments are unable to regulate or control the OMC (Oil Marketing Companies). Thus, the dealers of fuel stations can now conveniently manage their resources and cash flow by having this approach in nature.   

 

 

 

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