Highest diesel price is seen in the state of Andhra Pradesh (₹97.22) and lowest is observed in Arunachal Pradesh (₹82.31). Compared to Andhra Pradesh, the diesel price in Arunachal Pradesh is cheaper by ₹14.91.
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The rate of diesel in Rae Bareli
A rise in the price of diesel means that you will shell out more on commuting. Since the majority of commercial vehicles run on diesel, a rise in price for this fuel will have an impact on the cost of transportation. This, in turn, can put upward pressure on the commodity prices, and taken together, can lead to an increase in the rate of inflation. In order to mitigate these inflationary pressures, the Reserve Bank of India (RBI) increases interest rates. This translates to higher cost of borrowing. Thus, a rise in diesel prices can have a cascading effect on the economy.
Diesel prices are governed by a host of factors, primary amongst them are the price of Brent crude and government levies. For instance, a rise in the price of Brent crude oil can lead to an increase in the price of domestic diesel.
How are diesel prices calculated in Rae Bareli?
Diesel prices in Rae Bareli are calculated by taking into account the price of Indian crude oil basket, dealer and refining margins, transportation costs, state value added tax and central excise duty. It is pertinent to note that state levy varies across states. This explains why diesel prices differ across states. Changes in central excise duties also affect diesel prices significantly. A cut in central excise duty helps in cooling off of elevated diesel prices. Besides, gyrations in the price of Brent crude oil can also affect the domestic price of diesel.
How to check the correct daily diesel rate in Rae Bareli online via App, Website and SMS?
The prices of diesel are updated every day at 6 AM. This pricing mechanism is called dynamic fuel pricing. Consumers can get the latest diesel prices using customer care services of state-run oil marketing companies, like Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. Besides, these companies also have SMS-based services which can be used to get the latest price of diesel.
Indian Oil
Customer care number: 1800-2333-555.
Mobile app: IndianOil ONE
SMS: RSP <space> Dealer Code of Diesel Pump to 9224992249.
BPCL
Customer care number: 1800 - 22 - 4344
Mobile app: Smart Drive
SMS: RSP <space> Dealer Code of Diesel Pump to 9223112222
HPCL
SMS: HPPRICE <space> Dealer Code of Diesel Pump to 9222201122
The prices of Diesel in Rae Bareli are revised and updated on a daily basis at 6 AM. This pricing mechanism is called dynamic fuel pricing. It was introduced in June 2017 in order to increase transparency and limit speculative practices. Dynamic prices change according to market conditions. A number of factors affect Diesel prices like Brent crude oil prices, rupee to US dollar exchange rate, geo-political risks like war, supply-chain issues, etc. Domestic conditions like change in excise duty or state taxes, dealer commissions, etc. also affect Diesel prices.
The rates of Diesel in Rae Bareli will be different from other cities in India. State Value Added Tax (VAT) varies across states, hence, Diesel prices differ across states. Besides local body taxes, octroi etc lead to differential Diesel prices in different cities of a state.
The prices of Brent crude oil have a significant effect on the Diesel prices in Rae Bareli. India’s oil demand is primarily met by imports. Hence any change in prices of Brent crude has a direct bearing on the domestic price of Diesel.
The prices of Diesel in Rae Bareli are affected by changes in central excise duties. If other factors are kept constant, a rise in central excise duty leads to a rise in Diesel prices and vice-versa.
The prices of Diesel in Rae Bareli do not come under the ambit of Goods and Services Tax (GST). Hence, it has no impact on the Diesel prices in Rae Bareli.