Diesel Prices in Kerala
The present financial year has seen tremendous changes with respect to diesel, which is an efficient, multi-purpose liquid fuel. The demand for diesel is mounting day by day in the country, so does with Kerala. The following sections discuss a few important aspects related to diesel from the viewpoint of a common diesel consumer from Kerala.
Daily Revision of Fuel Prices
All diesel bunks throughout the state have begun revising diesel rates on a daily basis since 16 June 2017. Rates will change at 06:00 a.m. every day. Each diesel bunk will display the updated price at its premises for the public. Earlier, the revision used to happen twice a month, which is on the first and sixtieth of every month by taking the average price of crude oil over the last fifteen days and the exchange rate of the INR to the USD.
Diesel Prices in Kerala
The average price of diesel for the last five days is Rs.61.998. The rate has fallen by more than two rupees since 3 October 2017. It is because of the reduction in the central excise duty. Before deducting the excise, the diesel rate was Rs.64.3 on 3 October 2017.
What is the Impact of GST on Diesel Price in Kerala?
The retail selling price (RSP) of all types of goods and services have slighted changed since the rollout of the Goods and Services Tax (GST) in the month of July 2017. But, diesel rates have remained unchanged in the state. GST is not applicable to five petroleum products including diesel. Many of us know that the highest GST rate fixed by the GST Council till date is 28%.
Diesel Rates vs. Petrol Rate in Kerala
Diesel is priced less compared to petrol because it is a subsidized commodity. The net difference between the current rate of petrol and diesel in Kerala is reasonable like any other state. The prices of petrol and diesel offered by different oil brands will change a bit. They are expected to go up slightly over the next one or two months.
