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Petrol Price in Mumbai (5th July 2020)

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 ₹ 87.19 (4th July 2020), 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.

Jul 4, 2020
₹ 87.19 /Ltr

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
Jul 3, 2020 ₹ 87.19 ₹ 0.00
Jul 2, 2020 ₹ 87.19 ₹ 0.00
Jul 1, 2020 ₹ 87.19 ₹ 0.00
Jun 30, 2020 ₹ 87.19 ₹ 0.00
Jun 29, 2020 ₹ 87.19 ₹ 0.05
Jun 28, 2020 ₹ 87.14 ₹ 0.00
Jun 27, 2020 ₹ 87.14 ₹ 0.23
Jun 26, 2020 ₹ 86.91 ₹ 0.21
Jun 25, 2020 ₹ 86.70 ₹ 0.16
Jun 24, 2020 ₹ 86.54 ₹ 0.00

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, July 2020
  • Petrol Price
    1st July Rs.87.19
    31st July Rs.87.19
    Highest rate in July Rs.87.19 on July 1st
    Lowest Rate in July Rs.87.19 on July 1st
    Over all performance No Change
    % Change 0%
  • Trend of Petrol Rate in Mumbai, June 2020
  • Trend of Petrol Rate in Mumbai, May 2020
  • Trend of Petrol Rate in Mumbai, April 2020
  • Trend of Petrol Rate in Mumbai, March 2020
  • Trend of Petrol Rate in Mumbai, February 2020
  • Trend of Petrol Rate in Mumbai, January 2020

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. 

Who fixes fuel prices in Mumbai?

Earlier until 2017, the central government of India used to fix the prices of fuel. But the country adopted the dynamic fuel pricing technique since June 15, 2017, and since then the oil marketing companies in India mainly the Indian Oil Corporation Limited (IOCL) will fix the retail prices of petrol and diesel in the country. 

Petrol Prices in Mumbai Stays Constant

The petrol prices in Mumbai were constant despite a drop in the overseas fuel rates following the rise in the pandemic cases which is likely to diminish the crude demand in the coming days.

The petrol rates in Mumbai were recorded trading at Rs 87.19 per litre.

In the international scenario, Brent was recorded trading at $42.80 per barrel, down by 0.79% and West Texas Intermediate (WTI) traded at $40.32 per barrel, down by 0.81%.

The rise in the number of pandemic cases has pulled down the fuel prices in the global markets as oil fell below $43 per barrel during yesterday’s trade session rising concerns over the fuel demand which could stall sharply despite crude recorded weekly gain on lower supply and improved signs of economic recovery.

The recent reports over record jobs growth in the United States of America are likely to suffer a set back as the number of newly infected cases continues to march over 50,000 counts regularly with the numbers crossing 55,000 on Thursday.

The U.S. has become the epicentre of the virus and the rising cases will diminish the demand for fuel in the country which is touted as the largest consumer of oil in the world.

Both the U.S. crude benchmarks rose by over 2%, this Thursday and were buoyed by strong U.S. jobs data in June. The crude benchmark – Brent is still on track for a weekly gain of 4%.

The positive signs of economic recovery and a sharp decline in global supply following deeper output cuts by OPEC and its member partners helped Brent more than double from the 21 – year low it hit in April 2020.

Further boosting the recovery of the oil industry, even a private survey on China’s services sector showed expansion at the fastest pace in over a decade for June.

4 July 2020
Petrol Prices in Mumbai Trades Flat

The petrol prices in Mumbai traded flat today despite a drop in the crude rates in the international markets as a rise in the newly infected cases derails hopes of a revival of fuel demand. The petrol rates in Mumbai were spotted trading at Rs 87.19 per litre.

In the international markets, the crude benchmark – Brent was recorded trading at $42.86 per barrel, down by 0.65% and West Texas Intermediate (WTI) was at $40.39 per barrel, down by 0.64%.

The stronger U.S. jobs data had uplifted the crude rates as both the U.S. oil benchmarks witnessed growth with Brent up by 4.3% and WTI up by 5.6% for the week.

But the increases in daily reported cases of the pandemic across the globe and especially in the U.S. with the infected cases hitting over 50,000 counts over the last three straight days has sparked fear over the revival of oil demand in the coming days.

The reopening of the economies across the world had uplifted the crude demand helping its prices to move up gradually as it traded constantly between $38 - $40 per barrel for many days after crashing to zero levels and trading at negative prices during late April 2020.

The efforts by OPEC and its member partners to revive the oil demand by agreeing for deeper cuts beginning from May till the end of July 2020 to the tune of 9.7 million barrels per day (bpd) had also uplifted the mood of the fuel rates.

Meanwhile, the demand for gasoline in the U.S. will be closely watched as a greater number of Americans are expected to hit the roads on the upcoming holiday weekend on July 4.

3 July 2020
Petrol Prices in Mumbai Stays Stable

The petrol prices in Mumbai were stable despite a drop in the crude rates in the international markets as California reimposes lockdown measures to curb the rate of infections, hurting oil demand. The petrol rates in Mumbai were seen trading at Rs 87.19 per litre.

In the overseas markets, Brent was recorded trading at $41.92 per barrel, down by 0.26% and West Texas Intermediate (WTI) was at $39.69 per barrel, down by 0.33%.

The petrol prices in Mumbai are trading steadily from past two days after witnessing a rally for over 21 consecutive days as international crude trades in the range between $38 - $41 per barrel. The state-run oil marketing companies have not reduced the prices of fuel in the country despite a drastic fall in global crude owing to weak demand since the outbreak of a pandemic.

Meanwhile, the surge in the newly infected cases of coronavirus has prompted the authorities in California, one of the states in America to reimpose lockdown restrictions as the state rolled back its earlier plans to reopen the economy.

Yesterday, the California state banned indoor restaurant dining, closed bars and beefed up enforcement of social distancing and other measures in a move to curtail the further spread of the virus which has already shaken the U.S. with alarming cases over the last few months.

Earlier in the day, the oil prices rose on reports from the U.S. Energy Information Administration that the U.S. crude inventories declined by 7.2 million barrels from its record high which it hit last week, as refiners heightened production and imports moderated.

As of now, all eyes are set on the driving activity in the U.S. which is known as the largest consumer of fuel over the upcoming holiday weekend on July 4th and as to how quickly the producers in America will revive the shut-in production, notes analysts.

2 July 2020
Petrol Prices in Mumbai Trades Constant

The petrol prices in Mumbai traded constantly despite fall in the global crude rates as improvement in economic activities post easing lockdowns has uplifted the prices of fuel. The petrol rates in Mumbai were spotted trading at Rs 87.19 per litre.

In the overseas markets, Brent was recorded trading at $41.59 per barrel, up by 0.78% and West Texas Intermediate (WTI) was at $39.57 per barrel, up by 0.76%.

The petrol prices in Mumbai were hiked continuously for over 20 days, but since yesterday, the state-run oil marketing companies have kept the fuel prices stagnant.

The uplifting of the stringent lockdown measures has mounted the number of pandemic cases in many parts of the world derailing hopes of a quicker economic revival, which again weighed on crude rates to slip over the last few days.

The uplifting of the stringent lockdown measures has mounted the number of pandemic cases in many parts of the world derailing hopes of a quicker economic revival.

Meanwhile, the U.S. crude and gasoline stocks declined more than expected last week as per the data from the American Petroleum Institute (API). Though the official data from the U.S. Energy Information Administration (EIA) is due to be released later today and this will give more clarity about the U.S. crude inventories buildup.

The improvement in factory activity in China and a drawdown in the U.S. crude inventories indicate the signs of economic recovery has uplifted the mood of the ailing oil industry which is at loggerheads since the outbreak of epidemic began in early 2020.

1 July 2020
Petrol Prices in Mumbai Stays Afloat

The petrol prices in Mumbai were afloat after witnessing a continuous rally for a long time as the global crude rates decline again owing to rising in pandemic cases and likely return of Libya’s oil exports. The petrol rates in Mumbai were spotted trading at Rs 87.19 per litre.

In the overseas markets, Brent was seen trading at $40.99 per barrel, down by 1.73% and West Texas Intermediate (WTI) was at $38.96 per barrel, down by 1.86%.

The record spike in the number of cases and the resulting death from the coronavirus pandemic has jolted the oil industry as it struggles to revive back to normalcy during the crisis time.

The demand for fuel continues to wade and this has capped on the growing prices of the oil which is currently trading at around $40 per barrel as compared to the last year’s record of around $80 per barrel which it hit during September 2018.

The Organization of the Petroleum Exporting Countries (OPEC) and its member partners had agreed to go in for a deeper-cuts in output to the tune of 9.7 million barrels per day (bpd) to support the crude rates which had at one point nose-dived below zero and traded at negative numbers during April 2020.

Investors are focusing to see if Libya which was into civil war and had almost blocked its oil exports since January 2020 can resume exports. If it does so, then the job of OPEC+ members will be a bit more difficult notes analyst. Libya could pump around 1 million barrels per day (bpd) of fuel before disruptions.

30 June 2020
Petrol Prices Hiked Slightly in Mumbai

The petrol prices in Mumbai were hiked slightly despite a drop in the crude rates in the overseas markets amidst a sharp fall in fuel demand owing to rising cases of the pandemic. The petrol rates in Mumbai stood at Rs 87.19 per litre, up by 5 paise.

In the international scenario, Brent stood trading at $41.02 per barrel, down by 0.07% and West Texas Intermediate (WTI) was at $38.49 per barrel, down by 0.59%.

The mounting number of cases worldwide has added new worries to the oil industry over the last few days as the demand for crude is likely to take a hit and will take a long time to recover. The scenario has led to a drastic fall in the prices over the last couple of days.

The crude prices which once traded over $80 per barrel are now trading at around $40 per barrel, which is half of its earlier prices.

The cases in the U.S. and other parts of the world rose and this is likely to force the countries to resume partial lockdowns which will dampen the demand for crude in the coming days and this has led to the decline in oil prices for the second straight session today.

The crude benchmark – Brent is set to end June with three consecutive monthly gains following efforts by OPEC and its allies to go for deeper supply cuts as the demand for oil improved oil post reopening of the economy. But the positive rally of oil prices was short-lived as the crude inventories in the U.S. which is the largest producer and consumer of oil hit a record all-time high which again led to the decline in fuel prices.

Meanwhile, the U.S. shale oil giant Chesapeake Energy Corp filed for bankruptcy protection yesterday after the oil firm bowed to heavy debt and the impact of the pandemic outbreak on the energy markets.

29 June 2020
Petrol Prices in Mumbai Advances Again

The petrol prices in Mumbai advanced again despite a drastic dip in global fuel rates as newly reported cases continue to spike across many cities worldwide. The petrol rates in Mumbai were recorded trading at Rs 87.14 per litre, up by 23 paise.

In the international markets, Brent was spotted trading at $41.02 per barrel, down by 0.07% and West Texas Intermediate (WTI) was at $38.49 per barrel, down by 0.59%.

The reopening of the economies across many nations has raised optimism over the demand for oil which helped its prices to gain. But the situation was short-lived as the spike in the new epidemic cases across many cities in America has diminished the demand for gasoline which is consumed in larger volumes.

The demand for oil which were improving gradually is likely to be hit deeply as cases continue to mount up across many cities globally.

In addition to this, the unexpected rise in the U.S. crude inventories has added further worries to the oil industry as the U.S. refiners are now operating at nearly 75% capacity as per the data from the government.

The best attempts by Organization of the Petroleum Exporting Countries to boost the prices by deeply trimming the output to record low volumes at 9.7 million barrels per day (bpd) has shown no signs of improvement.

27 June 2020
Petrol Prices Hiked by 21 Paise in Mumbai

The petrol prices were hiked again in Mumbai following global trends as demand for oil improves globally despite a surge in new pandemic cases. The petrol rates in Mumbai were spotted trading at Rs 86.91 per litre, up by 21 paise.

In the overseas markets, Brent stood at $41.30 per barrel, up by 0.61% and West Texas Intermediate (WTI) was at $38.75 per barrel, up by 0.08%.

The crude prices which nose – dived to the lowest level in April and at one point traded in negative prices are showing signs of improvement following an increase in the demand for oil across the globe. The easing of lockdown restrictions helped the fuel prices to gain and currently, the U.S. contracts are trading at around $40 per barrel.

The surge in the U.S. crude inventories had dragged the prices of fuel this Wednesday and hence both the contracts have witnessed a weekly decline of around 1.8% and 2.2% respectively.

Analysts’ note that the road traffic levels in several major cities across the globe have reached the previous year’s level in June and this indicates that the demand for crude is normalizing.

Despite the positive development around improvement of oil prices, the fears over spike in the infected cases in many nations globally over the last couple of days is likely to stall the demand for oil in the coming days.

The outlook for global economic growth has worsened or has managed to be in the same line as it was during the last month, based on the economist’s poll reports of Reuters. It further noted that the recession was underway and is expected to be deeper than earlier expectations.

26 June 2020
Petrol Prices Gains in Mumbai by 16 Paise

The petrol prices in Mumbai gained despite inching down of global crude rates amidst a rise in the pandemic cases and a surge of U.S. crude inventories. The petrol rates in Mumbai were seen trading at Rs 86.70 per litre, up by 16 paise.

In the international markets, Brent was seen trading at $40.12 per barrel, down by 0.47% and West Texas Intermediate (WTI) was at $37.87 per barrel, down by 0.37%.

The United States of America witnessed its second-largest rally in infected cases since the beginning of the virus. The rise in the infection level was also recorded in many countries including India, Latin America, China which has unnerved investors confidence on markets, pressurizing fuel prices to slide.

In addition to this, the U.S. crude stockpiles grew by 1.4 million barrels out marking the analyst's expectations of a rise of 299,000 barrels as per the data from the Energy Information Administration (EIA) and this marks the third straight record for crude in the U.S. storage.

Meanwhile, the International Monetary Fund (IMF) has slashed the global output forecasts again for fiscal 2020, as it weighs that the pandemic is causing wider, deeper economic damage than its earlier predictions.

The oil imports of India for May has hit the lowest since October 2011 as refiners with brimming crude inventories have trimmed purchases.

25 June 2020
Petrol Prices in Mumbai Unmoved

The petrol prices in Mumbai were unmoved today despite a drastic fall in global crude rates amidst oversupply issue. The petrol rates in Mumbai were recorded trading at Rs 86.54 per litre.

In the international markets, Brent was seen trading at $42.41 per barrel, down by 0.52% and West Texas Intermediate (WTI) was at $40.13 per barrel, down by 0.59%.

The crude oil futures extended loss today after the U.S. crude stockpiles surged up higher than expected adding to worries about oversupply despite fall in gasoline stocks kept the fall in check.

The U.S. crude inventories marched up by a bigger than expected volumes of 1.7 million barrels last week as against the analyst expectations of a rise of 300,000 barrels as per the data from the American Petroleum Institute (API).

The global consumption and demand for oil showed recovery signs after economies emerged from lockdown and even the Organization of the Petroleum Exporting Countries (OPEC) and its member partners also slashed outputs and U.S. shale producers also closed the wells to combat supply glut situation and to boost the prices.

However, the official data from the U.S. government will be released later today.

The global consumption and demand for oil showed recovery signs after economies emerged from lockdown and even the Organization of the Petroleum Exporting Countries (OPEC) and its member partners also slashed outputs and U.S. shale producers also closed the wells to combat supply glut situation and to boost the prices.

The markets remain concerned about the rising number of pandemic cases across the globe and this has weighed on the fuel prices over the last few days.

24 June 2020

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