Diesel is an essential commodity for transportation and other industrial activities in Chandigarh. Regular fluctuations in diesel prices can have significant impacts on the economy and daily life. Therefore, it is vital to stay informed about the latest diesel prices in Chandigarh today. This article provides useful insights into diesel prices, factors affecting them, and ways to save on diesel expenses.
Latest Diesel Prices in Chandigarh Today
As of June 2021, the latest diesel price in Chandigarh today is Rs. 87.05 per liter. The price may vary slightly based on the location of fuel stations and taxes levied by the state and central governments. The government revises diesel prices every day based on international crude oil prices, exchange rates, and other factors.
Diesel Rates Change Frequently
Diesel rates change frequently due to various factors, such as global crude oil prices, taxes, demand and supply, transportation costs, and weather conditions. Therefore, it is difficult to predict the exact diesel prices in Chandigarh in the long term. However, staying updated with the daily diesel prices can help you plan your expenses and budget accordingly.
Factors Affecting Diesel Prices
Several factors affect diesel prices in Chandigarh and India, such as:
- Global crude oil prices
- Exchange rates
- Taxes (Central excise duty, state VAT, and other cess)
- Demand and supply
- Transportation costs
- Seasonal changes
- Political and economic stability
Diesel Price Trends in Chandigarh
The diesel price trends in Chandigarh have been fluctuating over the years, depending on the global and local factors mentioned earlier. For instance, the diesel price was around Rs. 80-85 per liter in 2019, but it increased to over Rs. 90 per liter in 2020. The recent price reduction can be attributed to the government’s efforts to stabilize the fuel prices amid the COVID-19 pandemic.
How to Check Diesel Prices Online
You can check the latest diesel prices in Chandigarh online using various platforms, such as:
- Indian Oil Corporation Limited (IOCL) website
- Bharat Petroleum (BP) website
- Hindustan Petroleum Corporation Limited (HPCL) website
- Mobile apps: My HPCL, SmartDrive, Fuel@IOC, etc.
These platforms provide real-time diesel prices based on the location and fuel station.
Why Are Diesel Prices Increasing?
The major reason for the increasing diesel prices in Chandigarh and India is the global crude oil prices, which account for around 80% of the fuel price. The crude oil prices are highly volatile and depend on several factors, such as OPEC policies, geopolitical tensions, natural disasters, and demand-supply imbalances. Besides, the taxes levied by the central and state governments also affect the final fuel price.
Impact of GST on Diesel Prices
The Goods and Services Tax (GST) is a uniform tax system that replaced multiple indirect taxes like excise duty, VAT, and service tax. However, diesel and petrol are still outside the purview of GST and subject to the previous tax structure. If the government includes fuel under GST, it can reduce the tax burden and stabilize the fuel prices. However, it may lead to revenue losses for the government and affect other sectors of the economy.
Petrol vs. Diesel Prices in Chandigarh
The petrol prices in Chandigarh are relatively higher than diesel prices due to several factors like higher taxes, refining costs, and demand-supply imbalances. As of June 2021, the petrol price in Chandigarh is around Rs. 95 per liter, which is nearly Rs. 8 higher than the diesel price. However, the petrol-diesel price gap may vary based on the fuel station and location.
Diesel Prices in Chandigarh Compared to Other Cities
The diesel prices in Chandigarh are relatively lower than other major cities like Delhi, Mumbai, and Chennai. For instance, the diesel price in Delhi is around Rs. 87.97 per liter, which is slightly higher than Chandigarh. However, the fuel prices may vary depending on the local factors and taxes.
How to Save on Diesel Expenses
There are several ways to save on diesel expenses in Chandigarh, such as:
- Opting for fuel-efficient vehicles
- Using public transportation or carpooling
- Avoiding unnecessary idling and acceleration
- Regular maintenance and servicing of vehicles
- Using fuel additives and eco-friendly products
- Planning your trips and routes efficiently
Future of Diesel Prices in India
The future of diesel prices in India depends on several factors, such as global crude oil prices, government policies, technological advancements, and environmental regulations. With the growing concerns over air pollution and climate change, the government may incentivize electric and hybrid vehicles and impose stricter emissions norms. However, diesel will continue to play a crucial role in the transportation and industrial sectors, and its prices may remain volatile.
Staying informed about the latest diesel prices in Chandigarh is essential for budget planning and financial management. By understanding the factors affecting diesel prices, consumers can make informed decisions and save on fuel expenses. Moreover, keeping an eye on the fuel price trends and future scenarios can help individuals and businesses prepare for any eventualities.