Diesel Price in Chandigarh Today

Since diesel prices are revised on a daily basis, oil companies have introduced several user-friendly methods to check the current diesel price in Chandigarh as well as other cities in India. The methods below assist consumers to get the latest fuel price in a city.

1. Through Mobile Apps: With the advent of smartphones, oil companies have launched their respective mobile apps which offer the current diesel price in a city. Indian Oil customers can use the 'Fuel@IOC' app, Bharat Petroleum consumers can utilise the 'SmartDrive' app, while Hindustan Petroleum offers services via the 'MY HPCL' app.
2. Through SMS Service: For those who would like to take advantage of the SMS service, follow the process below to track the current diesel price in Chandigarh.
   1. Indian Oil: RSP Dealer Code and send the SMS to 9224992249.
   2. Bharat Petroleum: RSP Dealer Code and send the SMS to 9223112222.
   3. Hindustan Petroleum: HPPRICE Dealer Code and send SMS to 9222201122.
3. Oil Company's Website: Consumers can visit the respective oil company's website to get the current fuel price in a city. Fuel companies update their website with today's diesel price in Chandigarh as well as other cities.

Factors which Influence the Diesel Price in Chandigarh

Now that we understand that diesel prices are revised on a daily basis, let's review what factors determine the change in the fuel price. India imports more than 70% of crude oil from oil-producing countries, which makes it an essential and expensive commodity in India. The cost of crude oil forms the primary or base price of the diesel price in India.

1. International Crude or Unrefined Oil Rate: Diesel is purchased in its crude form which is then refined and sold in the country. The global crude oil price is dynamic in nature as it changes due to the increase or decrease in production of crude oil. It's also influenced by a shortage in supply, geopolitical tensions or due to higher demand.
2. Currency Conversion Value: Trading of crude oil happens in US dollars, which is dynamic in nature. When the US dollar appreciates over the Indian Rupee, the cost to purchase crude oil increases and vice versa. Hence, the exchange rate of the US dollar is one of the factors which influences the daily revision in diesel prices in India.
3. Oil-Companies' Profit Margin & Dealer Commission: Crude or unrefined oil is shipped from oil-producing countries and is then refined and supplied to fuel stations in the country. Oil companies, therefore, include their profit margin and other operational costs to the diesel price before it's sold at a fuel station. Also, dealer commission ( commission to fuel station owners) is added to the final selling price of diesel.
4. Excise Duty & Value Added Tax (VAT) on Diesel: The sale of diesel attracts the Centre's excise duty of Rs.15.33 per litre and the states' local sales tax or VAT. Chandigarh charges VAT at 11.42% on a litre of diesel. The taxes on diesel form the biggest component in the final selling price. A revision in taxes leads to the change in diesel prices across cities in India.

Diesel Vs. Petrol Price in Chandigarh

Diesel prices in India are lower compared to petrol. This is due to the tax rate and other operational costs. While petrol is levied Rs.19.48 per litre as excise duty, diesel is charged Rs.15.33. Also, the VAT differs in petrol and diesel. Chandigarh charges 19.76% for a litre of petrol, while diesel attracts 11.42%.

GST on Diesel in Chandigarh:

The Goods and Service Tax (GST) is a single indirect tax charged on the supply of goods and services in India. However, petroleum products such as diesel and petrol are exempted from the GST. The issue is that the effective VAT on diesel varies from state to state. The effective VAT on diesel ranges from 6% to 29%, which means, every time the global crude oil price increases, the revenue to the State rises.

If diesel is brought under the ambit of GST, states charging lower VAT will witness a sharp incline in the diesel price. Besides, it would hurt the Centre's tax collection and impact its plans to maintain a fiscal deficit.

*Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.