Todays diesel rates in New Delhi are very sensitive to global crude prices. We have been seeing an uptick in global crude prices, which has also pushed diesel rates in New Delhi higher. Also, prices of the petroleum product have now been aligned to market rates. This means diesel price in New Delhi will rise each time, global crude prices rise and the rupee falls against the dollar.
|Nov 25, 2020||₹ 71.41||₹ 0.00|
|Nov 24, 2020||₹ 71.41||₹ 0.16|
|Nov 23, 2020||₹ 71.25||₹ 0.18|
|Nov 22, 2020||₹ 71.07||₹ 0.19|
|Nov 21, 2020||₹ 70.88||₹ 0.20|
|Nov 20, 2020||₹ 70.68||₹ 0.22|
|Nov 19, 2020||₹ 70.46||₹ 0.00|
|Nov 18, 2020||₹ 70.46||₹ 0.00|
|Nov 17, 2020||₹ 70.46||₹ 0.00|
|Nov 16, 2020||₹ 70.46||₹ 0.00|
|Highest rate in November||Rs.71.62 on November 26th|
|Lowest Rate in November||Rs.70.46 on November 1st|
|Over all performance||Rising|
|Highest rate in October||Rs.70.63 on October 1st|
|Lowest Rate in October||Rs.70.46 on October 2nd|
|Over all performance||Falling|
|Highest rate in September||Rs.73.56 on September 1st|
|Lowest Rate in September||Rs.70.63 on September 29th|
|Over all performance||Falling|
|Highest rate in August||Rs.73.56 on August 1st|
|Lowest Rate in August||Rs.73.56 on August 1st|
|Over all performance||No Change|
|Highest rate in July||Rs.81.94 on July 26th|
|Lowest Rate in July||Rs.73.56 on July 31st|
|Over all performance||Falling|
|Highest rate in June||Rs.80.53 on June 29th|
|Lowest Rate in June||Rs.69.39 on June 1st|
|Over all performance||Rising|
|Highest rate in May||Rs.69.39 on May 5th|
|Lowest Rate in May||Rs.62.29 on May 1st|
|Over all performance||Rising|
Diesel prices in Delhi are now changing every day. Earlier, the prices used to change once every two weeks or fifteen days. Now it has become an important thing to check the Diesel prices before filling as the small change will bring difference if you are filling the Diesel in high quantities.
The change in the Diesel prices is an advantage for the consumer, as the customers keep an eye on the prices and can buy Diesel when the prices go down. As the change in the price will be very small, it may seem like that it will not make a difference, but in the long term, you will be in profit. Oil marketing companies in India such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum, etc. will fix the new price Diesel in India every day. The International price of the Crude Oil is proportional to Diesel Price in India because the Oil companies in India will fix Diesel price depending upon the movement of the Crude Oil price in the Global Markets. Previously the diesel price of New Delhi was rising in every two weeks. From June 15, 2017, now the price will be updated on a daily basis. The change in the diesel price on a regular basis is done by the oil companies in India. So it is recommended to check the diesel prices of New Delhi before you load diesel in your vehicle at the fuel station. To check the diesel rates on a regular basis goodreturns.in allows you to check the best and modified diesel rates. It would be best if you keep an eye on daily updated diesel rates, before moving for your work. The market change is attributed to the worldwide price movement in crude oil. New Delhi diesel prices will spike if foreign crude oil prices rise and vice versa.
Diesel prices in New Delhi are slightly higher than yesterday.
Top Indian Oil Companies have established many methods to track diesel price.
Applicants can take a daily check of diesel prices via SMS, official websites, mobile application and toll-free number of the oil companies.
If you want to know the current diesel price of New Delhi you can type RSPDEALER CODE, and send it to 9224992249.
Apart from the SMS facility you can make a call to given the tollfree numbers to know the current diesel price of New Delhi. Indian Oil- 1800 233 3555, Bharat Petroleum- 1800 22 4344, Hindustan Petroleum- 1800 233 3555.
Applicants can also track the latest diesel price on the company's website and mobile app.
Why do India's diesel prices change over time? Even though fuel prices in India are roughly equal to the global crude oil price, prices are modified by State-owned OMCs thusly. This tends to help oil companies compensate for any liabilities, as well as keep passing any advantages on to customers. The two-week or 15-day average price of crude oil including the rupee-dollar exchange rate is considered by oil companies to hit the final selling price of diesel and petrol. The latest petrol or diesel price will arrive at 6:00 am IST every day on our website. This mechanism was introduced in the country from 16 June 2017. The change was intended to ensure that even the minimal change in crude oil prices could be carried on to buyers and dealers. Before this system fuel prices were updated in the country every fortnight. Considering the Dynamic Fuel Pricing' structure in the order it prevents the unexpected price change that has to be rendered at the end of the fortnight.
The trending fuel pricing mechanism also called "dynamic fuel pricing" which was introduced on the year June 2017 as we discussed on the above paragraph. This mechanism was started to update the diesel or petrol price of Delhi and including all other cities of India on a regular basis. The regular price update is done by considering the exchange rate of currency between the US dollar and the Indian Rupee and the global crude oil. After the mechanism is implemented across the country, all the cities continue to follow this mechanism including Delhi for a regular transparency price update. The key goals of this mechanism are to bring transparency on the price of fuel so that the authorities will not be able to regulate or exploit the OMC (oil marketing companies), since dynamic fuel pricing is enforced all over India, including Delhi Hence, by taking this process into account dealers of fuel stations can also conveniently control their wealth and resources.
Delhi's diesel prices contain a range of other factors aside from the global crude oil price and the dollar-rupee exchange rate, like the other cities of the country. Aspects such as shipping costs, entrance tax, refinery handling charges, the margin for oil firms and logistics are assessed before emerging at the fuel's basic price. In addition, the levy for operators of gas stations is involved, and so is the excise duty charged by the Center and the corresponding State charging regional sales tax or VAT. The major effect on fuel rates, however, is the international crude oil rate, and the Indian currency's exchange rate against the US dollar. Crude oil prices vary for different reasons so let's take a closer look at them:
Supply and exigency: The Organisation of Petroleum Exporting Countries (OPEC) has been the leading crude oil supplier on the global market for many decades, affecting the price of oil. OPEC's regulations are influenced by international changes so any impact on one of the OPEC's would result in a decrease in the production of oil. It, therefore, is raising the price of crude oil. Any huge increase in production could also lead to a drop in the price of oil.
Geopolitical crises: Political occurrences and conflicts like war, social instability, catastrophic events are all factors that affect the price of oil. Conflicts in some of the world's oil-producing regions may theoretically reduce oil supplies.
Future Availability and Resources: In the major oil-producing or oil-consuming nations, crude oil is allocated to sustain stable economies in case oil prices crash. When the demand is poor, oil is stocked up and then distributed into the market to maintain down costs.
The following are the various components that affect the Retail selling price for diesel in Delhi.
Crude Oil Prices: Indian oil traders buy Crude oil from multinational oil trading firms. The price is always compensated in the USD, which is the regular currency of financial trade, as it is being processed on overseas exchanges. Crude oil is then filtered to produce diesel, and refined. The crude oil is transported for diesel production and is refined. Price & shipping costs, refining charges are added to the Crude oil price, also known as the Refinery Transfer Price (RTP) in other meanings. This is the amount OMCs (Oil Marketing Companies) charged to the refineries, such as IOCL, BPCL & HPCL. The OMCs keep some profit and distribute it to the Dealer (the operator of the fuel pump).
Retail Selling Price: As every other city in India, the retail selling price (RSP) of diesel in Delhi is primarily influenced by the price of crude oil, the exchange rate and the tax element. But at the other end, seasonal fluctuations, weather predictions, global demands, worldwide political manoeuvres, international surpluses and shortages, and the currency conversion ratio influence the purchase price of unrefined oil.
Applicable taxes: In nature, the Central Excise Duty (imposed by the central government) and the VAT (Value Added Tax) are two different taxes. These taxes are added to the costs billed to the dealer of the fuel bunk. And the dealers' commission is related to the price after the imposition of the Central Excise and VAT, which differs from region to region.
A few of the essential aspects which decide the retail selling price (RSP) of diesel in Delhi are crude oil levels, refinery costs, the distributor's commission, the net profit of the OMCs, the state VAT and the excise duty levied on diesel. Crude oil is traded in US dollar internationally. The price of oil is affected by global supplies and services, the supply and demand of large nations, seasonal variations, environmental conditions, and the USD exchange rate against the Indian Rupee. The cost of refineries vary domestically, and the cost of converting crude oil into diesel fuel by oil-processing firms. Oil Marketing Companies (OMCs) would therefore add a certain percentage of the net profit margin on a litre of diesel delivered to retail suppliers. Both the state and the federal governments then enforce the rates charged to retail distributors. The federal excise duty appears to be the same in all regions of India, including Delhi, mainly in relation to the diesel pricing system and the State Value Added Tax (VAT) mechanism for petroleum products varies across all states. Another aspect that differs marginally from dealer to dealer in Delhi and other metro areas is the profit of the seller, which is measured by the gap between delivery point and retailers. The dealer's commission differs for petrol and diesel, as well as the venue of the fuel stations.
Diesel is an essential commodity for the growth in the economy. It provides a wide range of features for performance, quality, and stability. The diesel also has outstanding strength robustness relative to other fuels. Diesel is used everywhere, beginning with transportation, storage and transportation. Needless to note that the Delhi is the among one of the largest city where the diesel consumption is increasing rapidly. As the considerable number of diesel-run vehicles, industrial sectors, and manufacturing firms growing markedly, contributing to high demand in the region for diesel. Someone like you from Delhi needs to know the mechanism used to determine the price of diesel, the price breakup of diesel and the factors affecting diesel prices. A retail or active diesel customer always wants to know that whether the diesel rate is affected by GST or not. Well let's take a look at the related sections below that will take you to the depths of each of these factors. The regular change has now been come into force from June 2017 by substituting the former revision of diesel rates under which the price is updated every fortnight.
Diesel rates are being updated on a daily basis across all states of the country. Delhi's diesel customers quite frequently encounter obstacles for monitoring the city's right and clear diesel rates. Not only for Delhi's diesel users, but this issue is often confronted by fuel users in all other cities throughout the country. India's leading oil firms, such as Indian Oil, Bharat Petroleum and Hindustan Petroleum, have led to specific ways for fuel consumers, such as SMS, mobile apps and customer service, to keep up to date with the latest diesel rate in Delhi or any other region. Diesel consumers can now forget their concern about determining the precise diesel cost of the city by pursuing such strategies. But aside from the old practise of so-called SMS or toll-free numbers, new digital-age diesel consumers can access and download relevant OMCs' smartphone applications to track the updated diesel rate anytime anywhere. The Dynamic Fuel Pricing framework has been introduced by India's leading oil companies since June 2017, leading to a daily revision of diesel prices throughout all India's states or cities. Fuel prices continue to vary on a daily basis due to some factors such as state taxes, currency fluctuations and more. Therefore, the mobile apps provided by the oil firms help you to track the straightforward diesel price of your city or Delhi. Here are the smartphone applications that allow you to stay tuned with the revised and transparent diesel price of Delhi without compromising your luxury.
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 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 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 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