Diesel Price in Madhya Pradesh

Diesel Price in Madhya Pradesh Today (Apr 18 2024)

The Diesel Price in Madhya Pradesh is ...

Change In Prices of Diesel in Madhya Pradesh (Today & Yesterday)

Diesel Price in Madhya Pradesh Today Apr 18 2024

India has implemented the methodology for dynamic fuel pricing, which has come into force in India from June 2017. The diesel prices are therefore reviewed every day. Under this scheme, diesel prices adjust daily, all fuel stations are in synchronization with international oil prices beginning at 6 a.m. The move is to make fuel pricing more transparent and to give the final customers diesel prices.

Diesel prices are composed of different domestic and foreign elements in Madhya Pradesh, as in any other Indian state. The extraction of fuel, refining, transport, and marketing of all these parts plays an essential role in diesel transportations from below ground to the retail fuel stations.

Consumers can view the revised prices by reviewing the petroleum marketing companies’ websites (Indian Oil, HP, and Bharat Petroleum) or daily applications update the diesel prices on their mobile phones.

The trend of Diesel Price in Madhya Pradesh for March 2021 (rates per litre):

• The Diesel price in Madhya Pradesh on 1st March: Rs. 89.71/litre
• In the last week of March, the prices were close to Rs. Rs. 89.07/litre, which was also the lowest price that month.
• The trend of change is falling.
• The overall price change reads at -0.71%

Trend of Diesel Price in Madhya Pradesh for February 2021 (rates per litre):

• The Diesel price in Madhya Pradesh on 1st Feb: Rs. 82.91/litre
• In the last week of March, the prices were close to Rs. 88.30/litre, which was also the highest price that month.
• The trend of change is rising.
• The overall price change reads at +6.31%.

Trend of Diesel Price in Madhya Pradesh for January 2021 (rates per litre):

• The Diesel price in Madhya Pradesh on 1st Jan: Rs. 80.10/litre
• In the last week of Jan, the prices were close to Rs. 82.91/litre.
• The trend of change is rising.
• The overall price change reads at +3.39%.

Trend of Diesel Price in Madhya Pradesh for December 2020 (rates per litre):

• The Diesel price in Madhya Pradesh on 1st December: Rs. 78.43/litre, which was the lowest price that month.
• In the last week of December, the price closed at Rs. 80.10/litre.
• The trend of change is rising.
• The overall price change reads at +2.08%.

Trend of Diesel Price in Madhya Pradesh for November 2020 (rates per litre):

• The Diesel price in Madhya Pradesh on 1st Nov: Rs. 76.41/litre, which was the lowest price that month.
• In the last week of Nov, the price closed at Rs. 78.55/litre.
• The trend of change is rising.
• The overall price change reads at +2.72%.

Trend of Diesel Price in Madhya Pradesh for October 2020 (rates per litre):

Diesel Price in Madhya Pradesh Compared to its Neighbouring States

How often Diesel Rates are Revised in Madhya Pradesh

Since the government has introduced India’s dynamic market models, diesel prices in MP and the other Indian states are updated daily. In the most advanced countries, the dynamic market model is a standard price framework for calculating fuel prices. The price model considers elements, such as the Indian crude basket price and currency exchange rate, that change dynamically and calculate the Indian diesel price.

With dynamic fuel prices, India’s government intends to ensure that the end consumer and diesel traders instantly encounter even the slightest adjustment of foreign oil prices. The move would further increase transparency in diesel prices and reduce traders’ and businesses’ effects of fluctuating oil prices.

Factors Affecting Diesel Price in Madhya Pradesh

• International crude oil prices and currency transaction charges affect the price per day of the different components involved in diesel pricing. International crude oil prices depend on various other factors, including oil-producing countries’ metrics for supply and demand, production, weather, political stability, etc.
• Shortage crude petroleum supplies raise crude petroleum prices, while an increase in production contributes to lower prices. Besides, the Indian oil refining and marketing inventory also affect the price of crude oil.
• Since India follows a dynamic fuel price calculation process, the diesel base’s domestic price will be matched daily with international crude oil prices. This will affect India’s diesel price, with even the slightest shift in the international crude oil price.
• Also, since Indian oil firms import crude oil in US dollars, the dollar exchange rate rupee, which is changing again dynamically, is a significant factor affecting the regular Diesel price of Madhya Pradesh.
• Besides the above factors, any improvement in transport costs, fuel charges, state and central government taxes, income margins of the oil marketing firms, and updates will affect the Diesel price in Madhya Pradesh.

State Taxes and Diesel Price in Madhya Pradesh

The government of Madhya Pradesh collects 23.22 per cent VAT per litre of the country’s second-highest diesel. This is largely attributable to high tax rates on diesel in the state, bringing Rs’ rate. 85-90. When tax rates are down, the price of diesel can fall in Madhya Pradesh.

Effect of GST on Madhya Pradesh Diesel Price

Goods and Services Tax (GST) is a famous phrase these days. The Indian government launched a single, simplified tax platform last year. GST applies to all consumers in the region. Since diesel does not come under the GST scheme, the new tax regime has no impact on diesel pricing.

Other factors deciding India’s diesel price are state and central government taxes, forming an essential part of diesel fuel price. The state governments charge VAT on every litre of diesel types in their respective states, while the central government charges an excess diesel levy.
Currently, a tax of excise Rs 15.33 per litre of diesel is imposed by the Central Government. In all Indian countries and so in Madhya Pradesh, excise tax remains the same.

How are Diesel Prices in Madhya Pradesh Responding to GST?

If diesel’s cost is subject to GST, the most critical GST rate is 28 per cent in Madhya Pradesh, which is less than diesel fuel’s overall cost. According to market observers, the government can levy GST on petroleum products in addition to VAT.

Diesel Cost versus Petrol Cost in Madhya Pradesh

Check the latest Petrol Prices in Madhya Pradesh.

News Snippets

Saudi Arabia requests India To Utilise Cheap Oil Bought Last Year To Bring Down Fuel Rates.

FAQs

✅ What is the average Diesel price in Madhya Pradesh?

The average Diesel price in Madhya Pradesh is ₹ 89.23.

✅ What is the costliest Diesel price in Madhya Pradesh?