Diesel prices in Delhi are now changing every day. Earlier, the prices used to chance 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.
|Sep 21, 2017||₹ 58.69||₹ -0.10|
|Sep 20, 2017||₹ 58.79||₹ -0.06|
|Sep 19, 2017||₹ 58.85||₹ -0.06|
|Sep 18, 2017||₹ 58.91||₹ 0.03|
|Sep 17, 2017||₹ 58.88||₹ 0.04|
|Sep 16, 2017||₹ 58.84||₹ 0.04|
|Sep 15, 2017||₹ 58.80||₹ 0.06|
|Sep 14, 2017||₹ 58.74||₹ 0.02|
|Sep 13, 2017||₹ 58.72||₹ 0.00|
|Sep 12, 2017||₹ 58.72||₹ 0.10|
|1 st August||Rs.55.58|
|Highest rate in August||Rs.57.39 on August 14|
|Lowest Rate in August||Rs.55.58 on August 1|
|Over all performance||Rising|
|1 st July||Rs.53.33|
|Highest rate in July||Rs.55.50 on July 17|
|Lowest Rate in July||Rs.53.33 on July 1|
|Over all performance||Rising|
|1 st June||Rs.53.96|
|Highest rate in June||Rs.53.96 on June 21|
|Lowest Rate in June||Rs.53.46 on June 30|
|Over all performance||Falling|
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.
The government is looking at the possibility of asking oil marketing companies, more popularly known as OMCs to aborb any additional hike in petrol prices. In Delhi petrol prices have seen a very steep increase of almost Rs 7 in the last three months. This has not gone down well with consumers. This means that petrol rates in Delhi have now surged to the highest level in eight months and it is beginning to pinch the consumer. Earlier this year in June, the government dumped the practice of revising interest rates every fortnight as prices of the crude oil was very volatile. In line with petrol rates in Delhi, diesel prices to have surged, elevating the risk of inflation. While it was felt that the daily price revision may enable people absorb the shock, the current sharp increase is not good news for consumers.
In India, the petrol price changes daily and with international crude oil price. Fluctuation in crude oil prices globally is having an impact on the retail price of petrol and diesel in Delhi daily.
The main factors that are affecting petrol prices in India is taxes along with levies. Petrol users are paying more towards taxes than the actual cost of the product.Nearly 57 percent price of a liter petrol goes towards excise, VAT, and dealer margins. Rise in crude oil prices in the international market is one major factor responsible for the rise in petrol prices in Indian domestic market. Strong economic growth of India and other developing countries in Asia have increased huge demand of petrol, and other related essential fuels rose price hike in petrol in India.
There are different petrol prices for the various states in India.In Delhi, due to these reasons the petrol price slightly increased in paisa in Delhi. The price now has crossed the Rs 69.66.
We know that the movement of the petrol prices in Delhi will affect almost everyone in one or the other way. So it is essential to have an understanding of its pricing. Before, the prices used to change once every two weeks but now it changes on a daily basis. There are three major factors on which the petrol price in India depends and those are
Retail Selling Price (RSP)
Refinery Transfer Price (RTP)
Retail Selling Price (RSP) - RSP is decided depending upon few factors such as the average pricing of Crude Oil of the Indian Basket,and this price is calculated in Dollars per barrel. As it is priced in Dollars, Dollar price on that specific day will also affect the petrol price in India.
Refinery Transfer Price (RTP) - Refinery transfer price is also charged which means oil marketing companies will be paying some price to the refineries and that will be charged and also the transportation costs will be charged that is one of the reason the petrol price in Delhi will be different from city to city.
Taxes - There are various taxes on the petroleum products such as excise duty which will be imposed by the central Government, VAT few other taxes including Delar commission will be charged in the petrol price we pay.