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Diesel Price in Noida (14th May 2021)

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

May 13, 2021
₹ 83.21 /Ltr ( ₹ 0.31 )

Last 10 Days Diesel Rate in Noida

Date Price Price Change
May 12, 2021 ₹ 82.90 ₹ 0.17
May 11, 2021 ₹ 82.73 ₹ 0.28
May 10, 2021 ₹ 82.45 ₹ 0.39
May 9, 2021 ₹ 82.06 ₹ -0.27
May 8, 2021 ₹ 82.33 ₹ 0.15
May 7, 2021 ₹ 82.18 ₹ 0.31
May 6, 2021 ₹ 81.87 ₹ 0.41
May 5, 2021 ₹ 81.46 ₹ -0.04
May 4, 2021 ₹ 81.50 ₹ 0.52
May 3, 2021 ₹ 80.98 ₹ -0.04

Daily & Monthly Diesel Price in Noida : Graphical Representation

Historical Diesel Price in Noida

  • Trend of Diesel Rate in Noida, May 2021
  • Diesel Price
    1st May Rs.81.02
    31st May Rs.83.21
    Highest rate in May Rs.83.21 on May 13th
    Lowest Rate in May Rs.80.98 on May 3rd
    Over all performance Rising
    % Change +2.63%
  • Trend of Diesel Rate in Noida, April 2021
  • Trend of Diesel Rate in Noida, March 2021
  • Trend of Diesel Rate in Noida, February 2021
  • Trend of Diesel Rate in Noida, January 2021
  • Trend of Diesel Rate in Noida, December 2020
  • Trend of Diesel Rate in Noida, November 2020

How much do you monitor the price of diesel in Noida? What is the latest diesel price pattern in Noida? What are the recent reports about the fuel pricing? Why is the price of fuel across Indian States varied? There are a few significant questions most often posed by consumers of fuel. Let's go into depth on these topics. Diesel consumption has been increasing in Noida, a professionally developed city in Uttar Pradesh. Diesel has been used not only to ease transportation across the city but also for industrial operations. Diesel plays a vital role as far as every State's financial stability is involved. Many changes have arisen in the current fiscal year and must be brought to customers' notice. The main change is the implementation of the dynamic mechanism for pricing fuel which came into force from June 2017. The Dynamic Fuel Pricing Mechanism is a framework that evaluates fuel rates on a regular basis in compliance with the currency exchange rate and unrefined or crude oil prices. The pricing adjustment is made at 6:00 a.m every day. It is also highly necessary to validate the price of diesel before you fuel your vehicle. In Noida, since 16 June 2017, all diesel outlets have been adopting this new fuel pricing system in order to stay tuned with the latest price trend of diesel across the city.  

Components influencing the daily revision of diesel price in Noida

The following are the different components that influence the Retail selling price of Noida.

Price of crude oil- Multinational oil trading companies purchase crude oil from Indian oil traders.

In the USD, which is the standard currency of financial exchange, rates are often offset when they are exchanged on foreign exchanges. Crude oil is then purified and extracted to obtain diesel. Crude oil is shipped and refined for the production of diesel. Production & freight prices, refining charges, also referred to as the Refinery Transfer Price (RTP) in other words are applied to the Crude oil price. This is the margin charged by OMCs (Oil Marketing Companies), such as IOCL, BPCL & HPCL, to the refineries. Some margin is maintained and allocated by the OMCs to the dealer (the fuel pump operator). 

Retail Selling Price- The retail selling price of diesel in Noida is also influenced by the price of crude oil, the exchange rate and applied tax as compared all other cities of India. But, on the other hand, the retail price of unrefined oil is influenced by natural variation, weather forecasts, global demands, global political manoeuvres, global deficits and constraints, and the currency conversion ratio.

Tax- Two separate taxes are, in existence, the Central Excise Duty (levied by the central government) and the VAT (Value Added Tax). Both duties are applied to the costs billed to the dealer of the filling station. Although the cost after the enforcement of the Central Excise and VAT, which ranges from place to place relates to the dealers' margin. 

What is dynamic fuel pricing and it’s benefits?

Diesel use has been increasing in Noida, a feature rich city in Uttar Pradesh. Diesel is being used, unlike petrol, not just for mobility but also for industrial operations. As for the financial health of every economy, fuel plays a pivotal role. There have been several improvements in the last fiscal year that could come to the notice of customers. The implementation of the dynamic fuel pricing system, which came into force in June 2017, is the biggest improvement. The Dynamic Fuel Pricing Mechanism is a framework that changes fuel rates on a regular basis in compliance with the currency value and unprocessed or crude oil prices. The revision of rates takes place at 6:00 a.m. And every day. It is also highly necessary to validate the price of diesel before you fuel your vehicle. In Noida, since 16 June 2017, all diesel outlets have been adopting this modern fuel pricing system. After running a 40-day pilot in five Indian cities, the dynamic fuel pricing system was introduced in India. The framework offers fuel price stability, as governments are unable to control oil marketing companies (OMCs). Variances in the price of crude oil and the currency value of INR / USD could effectively be conveyed to end consumers. Dealers are able to control their stocks and operating capital efficiently. There is convergence of customers with market condition.   

Effect of GST in Noida on Diesel Prices

The Goods and Services Tax (GST) has no effect on Noida's diesel costs, as diesel is not subject to GST, which is currently levied at four rates: 5%, 12%, 18% and 28%. The lowest rate is 5 per cent and 28 per cent is the highest rate. Implementing GST on diesel will reduce the government's stream of revenue. In the broad picture, the GST scope would not include the entire oil and natural gas industry. For stakeholders, the introduction will double the implementation rate.

Factors influencing the diesel price in Noida

The major factors influencing diesel prices in Noida are the exchange rate, crude oil rates and taxes. The final price, also called the Retail selling price, rises whenever:

  • INR falls against USD
  • Spike in crude oil rates
  • Spike in state VAT or local tax
  • Spike in excise duty

The final selling price, in comparison, falls if:

  • INR rise against USD
  • Fall in local tax
  • Fall in crude oil rates
  • Fall in excise duty

In India, the exchange rate is set by the Reserve Bank of India, also known as the Central Bank of India. The rate is calculated on the basis of the level of inflation, the rate of interest, the rate of exchange of interest, the rate of imports and exports, and the debt levels. The price of crude oil depends on seasonal variations, environmental patterns, global supplies and deficits, as well as on oil demand. 

 

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