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Diesel Price in Mumbai (4th December 2020)

Todays diesel rates in Mumbai are very sensitive to global crude prices. We have been seeing an uptick in global crude prices, which has also pushed diesel rates in Mumbai higher. Also, prices of the petroleum product have now been aligned to market rates. This means diesel price in Mumbai will rise each time, global crude prices rise and the rupee falls against the dollar.

Dec 3, 2020
₹ 79.42 /Ltr ( ₹ 0.20 )

Last 10 Days Diesel Rate in Mumbai

Date Price Price Change
Dec 2, 2020 ₹ 79.22 ₹ 0.25
Dec 1, 2020 ₹ 78.97 ₹ 0.00
Nov 30, 2020 ₹ 78.97 ₹ 0.00
Nov 29, 2020 ₹ 78.97 ₹ 0.31
Nov 28, 2020 ₹ 78.66 ₹ 0.28
Nov 27, 2020 ₹ 78.38 ₹ 0.26
Nov 26, 2020 ₹ 78.12 ₹ 0.22
Nov 25, 2020 ₹ 77.90 ₹ 0.00
Nov 24, 2020 ₹ 77.90 ₹ 0.17
Nov 23, 2020 ₹ 77.73 ₹ 0.19

Daily & Monthly Diesel Price in Mumbai : Graphical Representation

Historical Diesel Price in Mumbai

  • Trend of Diesel Rate in Mumbai, December 2020
  • Diesel Price
    1st December Rs.78.97
    31st December Rs.79.42
    Highest rate in December Rs.79.42 on December 3rd
    Lowest Rate in December Rs.78.97 on December 1st
    Over all performance Rising
    % Change +0.57%
  • Trend of Diesel Rate in Mumbai, November 2020
  • Trend of Diesel Rate in Mumbai, October 2020
  • Trend of Diesel Rate in Mumbai, September 2020
  • Trend of Diesel Rate in Mumbai, August 2020
  • Trend of Diesel Rate in Mumbai, July 2020
  • Trend of Diesel Rate in Mumbai, June 2020

Beginning from June 15, 2017, Diesel prices in Mumbai are to be revised on daily basis. This revision will be done by the oil companies in India such as Hindustan Petroleum, Indian Oil, etc.

Revision of Diesel Prices in Mumbai

Before, it was not easy to change the Diesel price.

For the first few days, there was very little change in the Diesel prices. This small change in the Diesel price in Mumbai such as 10 paise or 15 paise will not seem like a burden for the consumer. But if the price changes by Rs 3 or Rs 5 every two weeks it will be hard for the consumer to absorb. We on goodreturns.in are providing Diesel prices frequently. In case if you want to check the Diesel Price in Mumbai before filling, you can visit our website and check the updated Diesel prices daily.  The changes in the diesel rates are primarily based on what the global market condition is. And when foreign crude oil prices rise, the price of Mumbai also surges. Therefore the price of diesel in Mumbai is set based on the varying factors of oil demand and import costs. The diesel rates of Mumbai can differ slightly from the other cities of Maharashtra because of the different tariff and fuel taxes.

Reliable Diesel Price of Mumbai

In Mumbai diesel prices ticked up as compared to yesterday. Numerous methods have been developed by Indian Oil companies to track oil prices.

From the numerous methods, widely known methods are SMS facility, official websites, mobile apps and toll-free numbers of the oil company.

If you want to know the current diesel price of Mumbai you can write an SMS RSP DEALER CODE and send it to 9224992249.

Apart from the SMS facility, you can also make a call to the mentioned toll-free numbers to know the latest diesel price of Mumbai on a daily basis. Indian Oil- 1800 233 3555, Bharat Petroleum- 1800 22 4344, Hindustan Petroleum- 1800 233 3555.

You can also visit the company's website or download the company's mobile app to track the diesel price every morning.

Today's diesel price is slightly high from the yesterday as the daily changes in diesel prices depend entirely on global market oil prices

Diesel Price In Mumbai

Diesel is an effective fuel for the economic growth. It offers a vast array of features for productivity , consistency, and safety. Compared to other fuels the diesel also has an excellent energy robustness. Diesel is used everywhere, starting from the shipping, manufacturing and production. Senseless to mention, Mumbai, Maharashtra's capital city, has a significant number of diesel-run automobiles as the largest user of diesel. Industrial construction and manufacturing industries are rising nimbly, resulting in strong demand for diesel in the region. 

A retail or operational diesel customer someone like you from Mumbai want to know the process used to set the price of diesel, the price breakdown of diesel and the factors influencing diesel prices. What does the Goods and Services Tax (GST) mean? If the GST is affecting diesel prices or not. In addition, this fiscal year, there is a lot of news about diesel. So let’s take a watch to the relevant paragraphs which will take you to the depth of each of these aspects: 

Since 16 June 2017, the adjustment based on the fortnightly has now been replaced by the regular adjustment. Many of the City's diesel outlets will change diesel rates on a regular basis. Diesel is priced based on two significant considerations: 1) crude oil production in international markets and 2) Currency exchange rates between India and US. 

How the diesel price of Mumbai is determined?

The price of a litre of diesel in Mumbai is determined by the price of crude oil (including freight charges), the cost of refining crude oil into diesel (named the conversion price of the refinery), the tax levied on diesel by the state and the central authorities, the commission charged to dealers to import fuel from refinery hubs, and the cessation of pollution. All the described are the diverse factors of the diesel price of Mumbai. Diesel, as stated in the previous section, is a commonly used resource and is taxed by the state and the central government which keeps changing. Refinery transition price (RTP) is the price charged by oil marketing companies (OMCs) for converting unrefined oil into diesel. Refinery transition price (RTP) is the price of converting unrefined oil into diesel, charged by oil marketing companies (OMCs). Oil marketing firms impose a profit rate to the purchase price of crude oil and refinery prices. The commission is defined per litre, billed by the distributors which can change can across the city. 

Factors influencing diesel rate in Maharashtra

The price of diesel in Maharashtra varies on a regular basis as in other Indian states. In India, there are several aspects which result in diesel pricing. Although some of them impact the cost of fuel on a regular basis, others sometimes impact it. The global crude oil prices and the US dollar to Indian rupee exchange rate are factors which affect diesel prices on a regular basis. India supplies 70 per cent of its oil needs from other countries. As a result, India's diesel prices directly lead to the international price of crude oil. Considering the fluctuations of crude oil prices and regular updates, diesel prices in India are revised accordingly. The currency exchange rate is the second element that influences the daily price of diesel. The constant fluctuating dollar value influences diesel prices since the crude oil trade normally takes place in US dollars.

Apart from the regular affecting factors, some other factors are factored into diesel pricing, such as state and central government taxes, marketing expenses, shipping costs, dealer's margins and commissions and other operational costs. State-level taxes impact the Maharashtra diesel cost among others. In India, all 29 states impose on diesel value added tax ( VAT). The rate of tax differs among all the states on India since the taxes are liable to be determined by the respective governments. Thus, the tax levied by the government of Maharashtra varies the price of diesel in the state from that of other state-governments. The central government also charges tax on diesel, commonly termed excise duty, identical to the state government. The excise taxes on diesel appear to be the same across all the states. Any tax reform will impact the prices of diesel in all states. Other aspects significantly impacting the price of the diesel include gross margins, profit and other maintenance or operating costs. Although these costs are relatively minimal, any adjustment in these will also have an effect on the price of diesel. 

What is the Framework for Updating Diesel Price in Mumbai?

Since 16 June 2017, the adjustment based on the fortnightly has now been substituted by the regular revision. All diesel stores in the city will daily change fuel prices. Diesel is priced on the basis of two significant factors: 1) crude oil production in international markets and 2) currency exchange rate between Indian currency and Dollar. However, neither central government nor even the state government has any authority to influence diesel prices under the current system. Consumers of fuel will now bear the costs, determined by two elements described in previous paragraph. The change is therefore advantageous to customers and to suppliers. In fact, there are 2 significant economies in the world performing the regular revision: 1) the United States of America and 2) Australia. The change not only imposes fuel price stability but also enhances best practises in stock management. As the regular revision is being performed by all oil marketing firms, they have formulated a few consumer friendly solutions to follow recent changes. For example , consumers can send a SMS, or call the requested customer service number to check the latest fuel price.  

How the diesel price in Mumbai is affected by the Dynamic Fuel Pricing?

The notion "dynamic fuel pricing" is already circulating since it was implemented from June 17. In tandem with the currency value between the US Dollar and the Indian Rupee and global crude oil, diesel prices tend to be changed on a regular basis. This price adjustment is conducted regularly at 6.00 AM (Indian Standard Time). Therefore, before filling your tank, it is sometimes important to check the diesel rates of your city. The dynamic fuel pricing mechanism is followed by the leading oil firms of India resulting to change the diesel price across all the cities including Mumbai on a daily basis. Just after Dynamic Fuel Pricing has been introduced throughout the country main priority of this framework is to introduce fuel price stability so that government agencies are unable to control or manipulate the OMCs (Oil Marketing Companies). In contrast, the fluctuations in crude oil rates and the INR-USD currency value are the two major factors which influences the diesel price of Mumbai. Hence, accepting this mechanism fuel station dealers of Mumbai can effectively control their capital and resources. 

Mobile Apps To Track The Revised And Accurate Diesel Price of Mumbai

The diesel prices are being regularly revised throughout all regions of India. The diesel consumers of Mumbai also often face difficulties to track the correct and transparent diesel price of the city. Not only for the diesel consumers of Mumbai, but this problem is also faced by the fuel consumers of all other cities across the country. India's leading oil companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum resulted in specific approaches for fuel customers such as SMS, Smartphone Applications and customer support to stay abreast with Mumbai's or any other city’s current diesel rate. By following such approaches diesel consumers can forget their worry about finding the exact diesel rate of the city. But apart from the old tradition so-called SMS or toll-free numbers, the diesel consumers of current digital era can download and install the mobile apps of specific OMCs to track the revised diesel rate on their go. Effective from June 2017, India's leading oil firms have implemented the Dynamic Fuel Pricing system, leading in a regular revision of diesel prices across all the states and cities of India. Owing to such factors such as state taxes, currency exchange rate and more, fuel rates continue to adjust on a regular basis. So it is important to keep updated with the current fuel price of your city. Therefore, considering the daily price revision of diesel the smartphone applications offered by the oil companies enable you to monitor the transparent diesel price of your city or Mumbai. Here are the mobile apps that allow you to keep abreast without sacrificing your comfort with Mumbai’s updated or current diesel rate.   

Fuel@IOC-Indian Oil Mobile App

The smartphone app Fuel@IOC-Indian Oil allows Indian oil fuel customers to conveniently track Mumbai's fuel prices. Via this app, Indian oil fuel consumers can easily connect with the correct price of petrol and diesel from the comfort of their office or home. This app is compliant with both IOS and Android consumer approvals. Android users can download the Fuel@IOC-Indian Oil app from the Google Play Store, and IOS enthusiasts can access it from the App Store without any cost. The smartphone app from Indian Oil allows customers to verify current fuel prices on a 24x7 basis. Before filling your vehicle, it is advised to review Mumbai's current fuel price, hence this app will help you stay tuned to the fluctuations in diesel prices every day. The Fuel@IOC-Indian Oil app is the best aid to stay up to date anywhere at any time with the updated diesel price of the city. By downloading the app from your mobile's preset store with only a few taps you can find the latest fuel price trend of Mumbai, just open your palm to grab this user-friendly app. But apart from this set of online apps, if you are not a mobile user, you can also monitor the existing fuel price of Mumbai by searching the official website of Indian Oil, contacting the customer support team or SMS facility issued by the Indian Oil company to its fuel consumers.   

 

 

 

 

Diesel Prices Down in Mumbai By 9 Paise

The prices of diesel have been cut in Mumbai by 9 paise per litre bringing down the total price to Rs 72.56.

The move comes in amidst the drop in the crude oil prices in the global market.

The domestic oil marketing major, Indian Oil Corporation announced about the price cuts in its official website. The price change comes into effect starting from 6 am in the morning.

The rates of crude oil fell in the global market as the OPEC member countries have increased the oil output production as discussed during the last month’s OPEC meet. The increase in the supply of oil has kept the rates of fuel under check and has thus led to the decline in the crude oil rates in the global market.

India depends on oil imports to a great extent from oil-producing countries. Around 80% of oil imports are required to fulfill the domestic requirements, which has led to the increase in the import bill of the country.

19 July 2018
Diesel prices in Mumbai rally

Prices of diesel in Mumbai rallied after for the 12th straight day, rising to Rs 73.20, up by 26 paise. The oil marketing companies had frozen the prices, ahead of the Karnataka state elections, but raised the fuel prices following the successful completion.

It is likely that we will see diesel prices flatten after somedays, as crude prices have been dipping. Brent Crude has fallen marginally today to $78, after hitting $80 per barrel.

If prices keep dipping, we will see a reduced price for the commodity in cities like Mumbai.

In fact, the government is weighing options to ask exploration major, ONGC to bear the costs of windfall gains in the price of petroleum products.

It may also look at including diesel and bring it under the ambit of the GST. This means the rates would reduce dramatically, bringing respite for consumers.

27 May 2018
Diesel price in Mumbai hits Rs 72.76 per litre

Fuel prices in the city of Mumbai began hurting investors, with petrol and diesel both gaining hugely in the last 10 days.  Diesel prices at the retail outlets in Indian Oil Company, BPCL and HPCL were at Rs 72.76 in the major Indian cities.

It is likely that we will see a further rally in prices, if Brent Crude goes beyond the $85 per barrel mark. In fact, the real worry for diesel rates in the city of Mumbai continues to also be the falling rupee. India meets 70 per cent of its crude requirements from imports and a drop in the rupee also tends to impact the price of the fuel.

 Diesel prices in Mumbai have now rallied for 10 straight days gaining as much as Rs 2 in the last 10 days itself. There may now be little respite for consumers, unless the government cuts excise.

23 May 2018
Diesel prices in Mumbai jump

Diesel prices in Mumbai smashed earlier records, as globally all forms of crude oil rallied. This is the first time, we are seeing diesel rates in Mumbai retailing at such high rates.

The rate for one litre diesel at IOC, HPCL and BPCL stood at Rs 72.22 in the city of Mumbai. In fact, Brent Crude has now crossed levels of $80, which has posed further risk of the fuel price increasing in various Indian cities. The government would have to evolve a mechanism to reduce prices as this may lead to a rise in inflation.

The one option is to cut excise rates on diesel. However, it happened last year as well the government cut the excise duty, which resulted in a loss of revenue of Rs 25,000 crores.

The falling rupee is also looking worrisome for the fuel. The rupee has hit 68, which is making imported crude expensive and hence diesel prices across the country.

21 May 2018

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