Diesel Price in Kanpur Today

Why is Diesel expensive today?

1. OPEC and other oil-producing countries announced a production cut for some period of time. As a result, crude oil is becoming expensive day-by-day.
2. Diesel retailers increased their commission by Rs.1 per litre over the last 10-12 months.
3. States have not declined the VAT on diesel though they were asked to do so.

How can I get the Diesel Price in Kanpur today?

Fuel consumers can trace the latest fuel rates using both offline and online means. How? Download the mobile apps in your mobile phones to get daily updates. Or else, refer to the website of either HPCL or BPCL or IOL. OMCs upload the updated price onto their websites periodically. Another way is to make an SMS request or speak to the customer care representatives of the OMCs. Despite which method you use, be sure get the current diesel rate in Kanpur before you buy.

How is the Diesel Price computed in Kanpur?

1. The cost of crude oil per litre is currently estimated to be Rs.26.41.
2. The total amount of overheads incurred by oil marketing companies is estimated to be Rs.10.37 per litre.
3. The central tax on diesel is currently Rs.15.33 per litre.
4. The commission charged by dealers is Rs.2.51 per litre.
5. The VAT imposed on diesel per litre is estimated to be Rs.10.37 per litre.

All the aforesaid cost elements are added to arrive at the Retail Selling Price of diesel in Kanpur, which is estimated to be Rs.59.50 per litre approximately.

Which are the expenses incurred by Oil Marketing Companies?

Entry levies, the refinery transfer price (RTP), freight and carriage are the major overheads incurred by oil marketing companies. The Refinery Transfer Price is the price charged by refineries to turn unrefined oil into usable fuel, which is diesel.

Factors affecting the Diesel Rate in Kanpur?

We can expect the diesel price in Kanpur to rise if the INR falls against the USD, the crude oil price goes up and taxes increase. On the other hand, the fuel rate is expected to fall when the INR appreciates against the USD, the cost of unrefined oil falls and taxes decrease. The exchange rate has a huge role to play and is sensitive to global elements. The Reserve Bank of India (RBI) determines the exchange rate on the basis of interest rates, public debts, imports and exports. A barrel of Brent Crude Oil currently costs $65 or Rs.4,200 INR to date. Experts comprehend this cost to accelerate by 15-18% over the next two quarters.

GST vs Diesel Prices in Kanpur

The Goods and Services Tax (GST) is a complete platform to levy taxes on services and commodities, which are transacted within the country. The GST subsumes all indirect taxes, which were levied earlier. With the GST system in place, the taxation system has been seamless. The GST is now levied at 28%, 18%, 12% and 5% presently. But, diesel is exempted from the purview of the present tax system.

*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.