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Petrol Price in Mumbai (19th December 2018)

Petrol prices in Mumbai have been turning more volatile, as prices of crude oil have been showing a firm trend. It is important to check todays petrol price in Mumbai (₹76.25), especially if you are going for a long drive. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. The rupee has also moved lower against the dollar, which has made petrol prices in Mumbai more expensive than before. It is hoped that the government can reduce excise duties, so as to enable rates to become more cheaper in the coming days.

Dec 19, 2018
₹ 76.25 /Ltr

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
Dec 18, 2018 ₹ 76.25 ₹ 0.10
Dec 17, 2018 ₹ 76.15 ₹ 0.19
Dec 16, 2018 ₹ 75.96 ₹ 0.00
Dec 15, 2018 ₹ 75.96 ₹ 0.05
Dec 14, 2018 ₹ 75.91 ₹ 0.00
Dec 13, 2018 ₹ 75.91 ₹ 0.11
Dec 12, 2018 ₹ 75.80 ₹ 0.00
Dec 11, 2018 ₹ 75.80 ₹ -0.10
Dec 10, 2018 ₹ 75.90 ₹ -0.23
Dec 9, 2018 ₹ 76.13 ₹ -0.15

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, December 2018
  • Petrol Price
    1st December Rs.78.09
    19th December Rs.76.25
    Highest rate in December Rs.78.09 on December 1st
    Lowest Rate in December Rs.75.80 on December 11th
    Over all performance Falling
    % Change -2.41%
  • Trend of Petrol Rate in Mumbai, November 2018
  • Trend of Petrol Rate in Mumbai, October 2018
  • Trend of Petrol Rate in Mumbai, September 2018
  • Trend of Petrol Rate in Mumbai, August 2018
  • Trend of Petrol Rate in Mumbai, July 2018
  • Trend of Petrol Rate in Mumbai, June 2018

Daily petrol prices in Mumbai were revised beginning from June 15, 2017, after it was felt that the oil marketing companies were capable of revising petrol prices on a daily basis. While it was earlier not possible, due to various technical issues, these days it is highly possible to revise prices on a daily basis.

Daily Petrol Prices in Mumbai Revised

Mumbai petrol prices in the first few days of price revision are seeing changes of a few paise. This is largely beneficial for consumers as they can easily absorb the same. On the other hand it may be difficult to absorb the huge burden of says Rs 2-3, which would happen after a fortnight's revision in daily prices. We are providing todays petrol prices, which is largely the daily price, the revision of which happens at 6 am in the morning. You would do well to check the daily petrol prices on goodreturns.inn and fill petrol, in case you are planning to completely fill your tank.

How are petrol rates in Mumbai determined?

Petrol prices in Mumbai are determined in a host of ways, including the international prices of crude and the movement of the currency against the US Dollar.  When global prices of crude rally, they tend to impact domestic petrol prices, which means todays petrol prices in Mumbai are likely to go higher. For example, if crude oil moves from $55 to $70, its impact would most certainly be felt on the prices of petrol at the retail levels.

However, what would also be paramount would be the currency movement. For example, when the US dollar rises against against the rupee, crude prices become costlier for fuel. On the other hand if the rupee gains against the dollar, both petrol and diesel prices become costlier. It is hoped that this in turn would entail lowering the prices of petrol at the petrol stations.

Factors influencing petrol prices in Mumbai

There are a host of factors that ultimately lead to higher petrol prices in the city of Mumbai. This includes the import duty, and the taxes that are imposed by the state. Apart from this todays petrol prices in Mumbai also reflect the dealer margins, that is the margins that are levied by the retail petrol pumps. Many estimates suggest that are petrol rates should work to Rs 40, but we in Mumbai end-up paying Rs 80 per litre. This is not good and the government must thing of reducing the taxes on petrol, so as to benefit the common man. The fuel internationally has fallen from levels of $100 to the current levels of $65, but we have not seen a corresponding reduction in the prices of petrol at the retail level. 

However, it would be very important to check the petrol rates before you fill your car or vehicle tank. 

 

Petrol Prices in Mumbai Settles At Rs 76.25 Per Litre

The petrol prices in Mumbai remained constant despite tumbling in the global market due to its oversupply. The petrol rates in Mumbai settled at Rs 76.25 per litre.

The crude prices fell in the global scenario amid a glut in the oil industry. The United States of America’s crude stock rose up by 3.5 million barrels per day (bpd) to touch 441.3 bpd. The global fall in crude prices has deteriorated investor’s confidence in the oil stocks. The crude prices slipped by more than 5 percent during yesterday’s trade session and Brent was seen trading at $56.58 per barrel and WTI was at $46.80 per barrel.

Meanwhile, the fall in global crude prices helped the Indian domestic rupee to gain against the dollar and the rupee was seen trading at 70.17 mark during today’s trade session. The decline in crude rates helps the current account deficit of India to plunge further.

19 December 2018
Petrol Rates in Mumbai Surges Up By 10 Paise Per Litre

The petrol prices in Mumbai were up amid fall in global crude prices owing to surplus supply. The petrol rates in Mumbai touched Rs 76.25 per litre, up by 10 paise.

In the global scenario, the crude is abundantly available as the United States of America is producing a record shale output and this has created concerns related to an oversupply of crude which in turn will dip the crude prices. The Brent, which is a benchmark for crude is at $58.62 per barrel, down by 1.66% and WTI, was seen trading at $49.32 per barrel, down by 1.75%.

The U.S. is currently producing more oil in order to provide sufficient supply of crude to the oil industry and accordingly the U.S. storage hub of Cushing which is the delivery point for West Texas Intermediate is producing more crude and currently it is up by more than 1 million barrels between December 11 – December 14.

The Indian rupee gained against the dollar during today’s trade session and was seen trading at 71.19 mark. The fall in global crude prices helped the domestic Indian rupee to march up.

 

 

18 December 2018
Petrol Prices in Mumbai Gains Marginally

The petrol prices in Mumbai gained marginally following global cues wherein the crude prices rallied up during today’s trade session. The petrol rates in Mumbai stood a Rs 76.15 per litre, up by 19 paise.

The crude prices in the global market rose up during today’s trade session despite depreciating by 2 percent during the previous session as it is currently under pressure owing to weak growth and concerns over the abundant supply. Brent was seen trading at $60.28 per barrel and WTI was at $51.32 per barrel.

Analysts believe that the continuous production of crude will help to weigh down on its prices amid a cut in crude supply by the OPEC member countries starting from January 2019.

The weak growth in most of the economies including China and Europe added with the dampened demand for crude has slowed down the global economic growth to a major extent.

17 December 2018
Petrol Prices in Mumbai Inches Up

The petrol prices in Mumbai inched up despite prices of crude plunged in the global market owing to abundant supply. The petrol rates in Mumbai were recorded at Rs 75.96 per litre, up by 5 paise.

The crude prices dipped slightly in the global market and Brent was seen trading at $60.28 per barrel, down by 1.90% and WTI was at $51.20 per barrel, down by 2.62%.

The rise in crude production by Venezuela is likely to slow a free fall in Venezuela’s output which witnessed a drop in the production output to the lowest level since the last 70 years.

Meanwhile, the fall in the Indian rupee against the dollar has made the dollar priced crude expensive and today rupee was seen at 71.92 mark. 

15 December 2018
Petrol Prices in Mumbai Stands Flat

The petrol rates in Mumbai stood flat despite slipping slightly in the international market. The petrol prices in Mumbai were seen at Rs 75.91 per litre.

The prices of crude eased today after edging over 2 percent during yesterday’s session. Analysts predict that the market is likely to tighten further during the second quarter of 2019 as the OPEC member countries along with its non – OPEC member has decided to cut down crude supply starting from January 2019. The oil major – Saudi Arabia is all set to trim down 10.2 million barrels per day (bpd) of crude supply to the oil market.

The crude oil benchmark – Brent was seen trading at $61.07 per barrel, down by 0.62% and WTI by $52.35 per barrel, down by 0.44%.

Meanwhile, the Indian rupee gained during today’s session against the U.S. dollar and was seen at 71.80 mark. The rupee gained after the government of India appointed Shaktikanta Das as the RBI Governor after the shocking exit of Urijit Patel before the completion of his tenure. The new governor is likely to tackle the issues promptly and swiftly which is currently haunting the banking sector in India.

14 December 2018
Petrol Rates in Mumbai Remains Unchanged

The petrol rates in Mumbai remained unchanged despite the crude prices rallying up in the global markets ahead of the trimming of crude supply by OPEC. The petrol prices in Mumbai were recorded at Rs 75.80 per litre.

In the global scenario, the crude prices rose up as the OPEC member countries along with the non – OPEC member partner decided to trim down the crude supply with effect from January 2019. The fall in the crude supply has helped its prices to surge up in the international market.

Brent was seen trading at $60.97 per barrel, up by 1.28% and WTI was at $52.31 per barrel, up by 1.28%.

The U.S. President, Donald Trump stated that the country is in talks with China to defuse the trade tariff war which dwindled the global economic growth rate and shook most of the developing countries economies.

In India, the domestic rupee tumbled again against the dollar during today’s trade session and was seen at 72.04 mark. The RBI Chief’s sudden exit followed by yesterday’s poll results weakened the rupee further during today’s trading session. The weak rupee makes dollar-priced crude costlier.

12 December 2018
Petrol Rates in Mumbai Dips Further

The petrol rates in Mumbai dipped further amid the fall in global crude prices. The petrol prices in Mumbai stood at Rs 75.80 per litre, down by 10 paise.

In the global market, the crude prices dipped due to the weak market as the OPEC member countries have decided to cut the supply of crude to the market by 1.2 million barrels per day (bpd) starting from January 2019. Brent was seen trading at $59.89 per barrel and WTI was at $50.98 per barrel.

The likely cut in the oil supply to the industry has raised concerns over the future prices of crude in the oil industry.

In India, the sudden exit of the RBI Governor – Urjit Patel, has led to the fall in the rupee value against the dollar and was seen trading at 71.98 mark. The fall in the rupee against the dollar makes the crude purchase costlier for India and this will eventually impact the current account deficit of India.

11 December 2018
Petrol Prices in Mumbai Slips By 23 Paise

The prices of petrol in Mumbai declined today despite the rise in the global crude rates amid the trimming down of crude supply in the coming days. The petrol rates in Mumbai were recorded at Rs 75.90 per litre, down by 23 paise.

The crude prices in the international market are picking up on a regular basis after the OPEC member countries decided to cut down on the crude production and supply to the market after witnessing surplus supply. WTI was seen at $52.49 per barrel and Brent was seen at $61.98 per barrel.

The cut in global crude supply is likely to come into effect from January and accordingly, Russia is likely to trim down 1.2 million barrels per day (bpd), OPEC member countries will cut 8,00,000 bpd and other countries who are not affiliated with the group will trim 4,00,000 bpd of crude.

The Indian domestic rupee dipped by further 52 paise to settle at 71.32 per dollar against the previous close of 70.80 mark. The rise in the global crude prices added with the rise in current account deficit led to the fall in the rupee value against the dollar.

10 December 2018
Petrol Prices in Mumbai Slips Further To Settle At Rs 76.28 Per Litre

The prices of petrol in Mumbai were cut despite the rise in crude prices in the global market as OPEC member countries finally decided to cut down oil output starting from January. The petrol rates in Mumbai were seen at Rs 76.28 per litre, down by 22 paise.

The crude benchmark, Brent which earlier was on the declining mode rose up by more than 2% during today’s trade session after the OPEC member countries agreed to cut the crude supply owing to surplus availability of fuel in the market. The Brent crude was seen trading at $61.67 per barrel, up by 2.68% and WTI was at $52.61 per barrel, up by 2.18%.

The two day OPEC meet which centred around trimming the crude supply has finally concluded on a positive note to slash oil output by more than what the market had expected despite continuous pressure from the U.S. President, Donald Trump who is pushing for keeping crude prices low by pumping more crude to the market. Accordingly, the crude producers will cut down an output of 0.8 million barrels per day (bpd) starting from January 2019.

The Indian rupee depreciated further against the U.S. dollar and was seen trading at 71.38 mark. The fall in rupee value will make crude purchases costly as crude is measured in terms of dollars.

8 December 2018
Petrol Rates in Mumbai Cut Again

The petrol rates in Mumbai were cut amid global fall in crude prices. The petrol prices in Mumbai were seen at Rs 76.90 per litre, down by 39 paise.

The plunge in the stock markets led to the fall in the global crude prices amid the likely cut in the global crude oil supply in the coming days. Analysts expect that the OPEC countries and its non-OPEC partner – Russia is likely to cut between 1 million – 1.4 million barrels per day (bpd) of crude supply to the oil industry to support the rise in crude prices and also to counter surplus supply of crude.

Today, Brent was seen trading at $61.04 per barrel and WTI was at $52.45 per barrel.

The fall in the global markets has also affected the stock markets in India, both Sensex and Nifty slipped by few points during today’s trade session. The RBI’s move to keep the repo rate unchanged led to the further depreciation of Indian rupee against the U.S. dollar and was seen trading at 71.04 mark during today’s trade session.

6 December 2018

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