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Petrol Price in Mumbai (19th February 2019)

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 (₹76.64), 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.

Feb 19, 2019
₹ 76.64 /Ltr ( ₹ 0.10 )

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
Feb 18, 2019 ₹ 76.54 ₹ 0.15
Feb 17, 2019 ₹ 76.39 ₹ 0.16
Feb 16, 2019 ₹ 76.23 ₹ 0.13
Feb 15, 2019 ₹ 76.10 ₹ 0.07
Feb 14, 2019 ₹ 76.03 ₹ 0.06
Feb 13, 2019 ₹ 75.97 ₹ 0.00
Feb 12, 2019 ₹ 75.97 ₹ 0.00
Feb 11, 2019 ₹ 75.97 ₹ 0.05
Feb 10, 2019 ₹ 75.92 ₹ 0.00
Feb 9, 2019 ₹ 75.92 ₹ -0.10

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, February 2019
  • Petrol Price
    1st February Rs.76.57
    19th February Rs.76.64
    Highest rate in February Rs.76.64 on February 19th
    Lowest Rate in February Rs.75.92 on February 9th
    Over all performance Rising
    % Change +0.09%
  • Trend of Petrol Rate in Mumbai, January 2019
  • Trend of Petrol Rate in Mumbai, December 2018
  • 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

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 Gains Amid Tightening Supply of Crude

The petrol prices in Mumbai gained amid a rise in global crude due to tightening of its supply.

The petrol rates in Mumbai were trading at Rs 76.64 per litre, up by 10 paise.

In the global markets, the crude benchmark Brent stood at $66.46 per barrel and WTI was at $56.33 per barrel.

Traders noted that the growing concerns surrounding global economic growth has led to a slight downward correction of crude requirements. In one of its notes, the American Bank – Bank of America Merrill Lynch states that the dispute between the U.S. and China has bruised the economic growth globally.

Currently, traders are awaiting to witness the outcome of the Sino – U.S. trade talks which is happening in Washington.

The rise in global crude rates has led to the rise in fuel prices in India as well. Meanwhile, the rupee was seen trading at 71.54 against the U.S. dollar during today’s trade session.

19 February 2019
Petrol Rates in Mumbai Gains Again

The petrol rates in Mumbai were hiked due to the rise in crude rates amid a decline in its supply by the OPEC led member countries. The petrol prices in Mumbai were recorded at Rs 76.54 per litre, up by 15 paise.

In the global scenario, Brent was seen at $66.23 per barrel and WTI is at $56.37 per barrel.

An analyst noted that so far in the year 2019 alone, the crude prices have rallied up by 25 percent and the current trend is likely to continue further in the coming days. The trimming of crude supply by the OPEC member countries has helped the crude prices to surge up which had earlier dipped majorly owing to its abundant supply in the oil industry.

During today’s early trade session, the Indian domestic rupee slipped slightly by 7 paise and settled at 71.23 against the U.S. dollar. The fall in the rupee value will make the dollar valued crude more pricey for purchase.

18 February 2019
Petrol Prices in Mumbai Marches Up

The petrol prices in Mumbai marched up following surge in crude prices in the global markets owing to compact supply. The petrol rates in Mumbai stood at Rs 76.23 per litre, up by 13 paise.

The crude rates in the global markets inched up following cut in its supply and hence WTI was at $55.98 per barrel, up by 2.17% and Brent was at $66.25 per barrel, up by 2.60%.

The progressing trade talks between the U.S. and China has helped the crude demand to edge up in the oil industry after its steep decline following the slowness of global economic growth.

The OPEC partner – Saudi Arabia has stated its intention to further trim down crude supply by half a million barrels per day (bpd) during the month of March. The fall in its supply has led to the rise in crude prices by close to 2 percent during yesterday’s trade session.

Meanwhile, in India, the Indian currency – Rupee was seen trading at 71.34 mark against the U.S. currency.

16 February 2019
Petrol Prices in Mumbai Rises Again

The petrol prices in Mumbai edged up amid a rise in international crude rates amid looming concerns over global economic slowness. The petrol rates in Mumbai were trading at Rs 76.10 per litre, up by 7 paise.

In the global markets, the Brent was seen trading at $64.85 per barrel, up by 0.43% and WTI was seen trading at $54.58 per barrel, up by 0.31%.

The decline in the U.S. economy owing to the rise in the unemployment rates added with the recovery of Wall Street stocks led to the rise in global crude prices. The crude rates edged up by 20 percent this fiscal, mainly due to the cut in supply by Organization of Petroleum Exporting Countries (OPEC) to avoid supply glut.

The slowdown of the global economic growth has had its own impact on crude’s demand and supply in the oil industry. Analysts feel that the fuel demand will decline in the coming days owing to lack of demand.

Meanwhile, the rupee dipped further against the U.S. dollar during today’s early trade session and was seen trading at 71.40 mark.

15 February 2019
Petrol Prices in Mumbai Inches Up Amid Depreciating Rupee

The petrol prices in Mumbai inched up following global cues wherein the crude prices gained following likely positive improvement between the U.S. and China’s trade tariff war. The petrol rates in Mumbai were seen at Rs 76.03 per litre, up by 6 paise.

The crude prices in the international market stood shot up with WTI at $54.38 per barrel and Brent was at $64.32 per barrel.

The trade tariff war between U.S. and China, which had escalated to peak during fiscal 2018, is likely to be settled amicably between the world’s largest economies and this has helped the crude prices to rally up.

Meanwhile, the U.S. crude oil output remained at its peak at a record 11.9 million barrels per day (bpd).

The International Energy Agency in its report has stated that the global crude demand for current fiscal will grow by 1.4 million bpd whereas for non-OPEC supply will rise by 1.8 million bpd.

Meanwhile, the Indian rupee declined against the U.S. currency and was seen trading at 70.89 mark during today’s early session.

14 February 2019
Petrol Prices in Mumbai Remains Constant Amid Decline In Crude Supply

The prices of petrol in Mumbai remained constant despite gaining an edge in the global scenario amid a decline in crude supply by OPEC member countries. The petrol rates in Mumbai were seen trading at Rs 75.97 per litre.

In the global scenario, the West Texas Intermediate (WTI) was seen trading at $53.62 per barrel and Brent stood at $63.03 per barrel.

The recent sanctions on Venezuela’s oil firm by the United States of America added to the trimming of crude supply by OPEC member countries has led to the rallying of crude prices in the global market which otherwise had fallen below $60 per barrel.

Now Venezuela has tried to find out alternative customers and is trying to export crude to Asian countries. But most of the countries are shying away from securing crude from PDVSA which is currently facing sanctions from the U.S. as most of the Asian countries are wary to face wrath from the United States of America.

Analysts are predicting that currently, the global oil markets have remained well supplied despite the crisis in Venezuela and trimming of crude supply by OPEC member countries.

Meanwhile, the Indian domestic rupee continued to gain against the U.S. currency and stood at 70.58 mark against the dollar. The rise in the value of rupee against the U.S. dollar is a positive sign for India’s economy.

13 February 2019
Petrol Prices in Mumbai Stays Flat Amid Appreciating Rupee

The petrol prices in Mumbai stood still despite strong gains in the global market amid a decline in crude supply to the oil industry. The petrol rates in Mumbai were seen at Rs 75.97 per litre.

In the global scenario, the crude benchmark – Brent was seen trading at $61.83 per barrel and West Texas Intermediate stood at $52.67 per barrel.

The recent U.S. sanctions on Venezuela’s oil firm has halted its crude exports to the United States and this has led to the rise in global crude rates added to the trimming of fuel supply by the OPEC led member countries.

In India, the rupee value edged up against the U.S. currency and was seen trading at 70.78 mark, during today’s trade session. The rise in the rupee value has helped the fuel prices to remain stagnant in Mumbai.

12 February 2019
Petrol Prices in Mumbai Inches Up

The petrol prices in Mumbai inched up despite being constant in the global markets amid a slowdown of global economic growth. The petrol rates in Mumbai were seen at Rs 75.97 per litre, up by 5 paise.

In the global scenario, the Brent was seen trading at $61.97 per barrel and WTI was at $52.33 per barrel.

The slow progress in the talks between the U.S. and China trade talks has raised concerns about the fuel demand in the coming days. In the United States of America, the energy firms have increased the total number of rigs operating for the second time in a time span of three weeks. It is unsure if the oil market is ready to absorb the supply of crude amid a dip in demand for crude.

The OPEC member countries along with its non-partner member Russia has cut down the crude supply to market with an intention to support crude prices and to prevent supply glut in the oil industry.

The Indian rupee rose up against the U.S. currency and was seen trading at 71.31 mark, up by 14 paise. The rise in the rupee value will make the dollar-priced crude less expensive for purchase.

11 February 2019
Petrol Rates in Mumbai Slides Slightly Amid Looming Concerns Over Global Economic Growth

The prices of petrol in Mumbai declined slightly despite the fall in global crude prices amid looming concerns over the global economic growth rate. The petrol rates in Mumbai were recorded at Rs 76.02 per litre, down by 6 paise.

In the global scenario, Brent was seen trading at $61.70 per barrel and WTI was at $52.34 per barrel.

The looming concerns over economic slowdown are likely to hit oil demand in the coming days amid worries surrounding trade tariff war between the U.S. and China. The surge in the U.S. crude oil production level to meet the growing global demands has worried the markets as they are unsure if the demand is sufficient to absorb the rising crude output production in the U.S.

The world is witnessing both highs and lows of economic growth of the major economic countries, while the U.S. reported robust job data and on the other hand, China reported lowest annual economic growth for the first time since the 1990s. The trade tariff war which escalated between the Sino-U.S. has injured the dragon countries economy badly.

Meanwhile, the rupee value rallied up against the U.S. dollar and was seen trading at 71.31 mark during today’s trade session. The rise in the rupee value against the U.S. currency will make the dollar-priced crude less expensive for purchase.

8 February 2019
Petrol Prices in Mumbai Stands Still

The prices of petrol in Mumbai stood still despite depreciating in the global markets amid a rise in crude supply. The petrol rates in Mumbai stood at Rs 76.08 per litre.

The crude benchmark – Brent was seen trading at $62.53 per barrel and WTI was seen at $53.81 per barrel.

A report from Energy Information Administration revealed that the U.S. crude oil inventories surged up by 1.3 million barrels to touch 447.21 million barrels, for the week ending February 1.

The slowdown of the global economy is likely to weigh on the rise of fuel demand in the coming months. The Chinese economy has declined for the first time since the 1990s and Germany’s industrial output showed a decline in December, fourth monthly consecutive fall in a row.

The domestic Indian rupee depreciated during early trade session and was seen trading at 71.41 mark against the U.S. dollar.

7 February 2019

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