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Petrol Price in Mumbai (21st June 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 ₹ 75.63 (20th June 2019), 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.

Jun 20, 2019
₹ 75.63 /Ltr

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
Jun 19, 2019 ₹ 75.63 ₹ 0.00
Jun 18, 2019 ₹ 75.63 ₹ 0.00
Jun 17, 2019 ₹ 75.63 ₹ 0.00
Jun 16, 2019 ₹ 75.63 ₹ -0.06
Jun 15, 2019 ₹ 75.69 ₹ -0.19
Jun 14, 2019 ₹ 75.88 ₹ -0.16
Jun 13, 2019 ₹ 76.04 ₹ -0.08
Jun 12, 2019 ₹ 76.12 ₹ 0.00
Jun 11, 2019 ₹ 76.12 ₹ 0.00
Jun 10, 2019 ₹ 76.12 ₹ -0.13

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, June 2019
  • Petrol Price
    1st June Rs.77.28
    30th June Rs.75.63
    Highest rate in June Rs.77.28 on June 1st
    Lowest Rate in June Rs.75.63 on June 16th
    Over all performance Falling
    % Change -2.18%
  • Trend of Petrol Rate in Mumbai, May 2019
  • Trend of Petrol Rate in Mumbai, April 2019
  • Trend of Petrol Rate in Mumbai, March 2019
  • Trend of Petrol Rate in Mumbai, February 2019
  • Trend of Petrol Rate in Mumbai, January 2019
  • Trend of Petrol Rate in Mumbai, December 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 Remains Flat

The petrol prices in Mumbai remained flat despite edging up in the global markets owing to fall in crude inventories in the U.S.

The petrol rates in Mumbai were recorded at Rs 75.63 per litre.

In the overseas markets, Brent was seen at $62.79 per barrel, up by 1.57% and WTI was at $54.81 per barrel, up by 1.56%.

The fall in the crude stockpiles in the United States of America has boosted the crude prices to surge up by over 1 per cent during today’s trade session. The crude production in the U.S. has fallen by 3.1 million barrels per day (bpd) as against the analyst's expectations of 1.1 million barrels as per the report from the Energy Information Administration (EIA).

Added to this, the further escalation of tension in the Middle East over the recent attack on oil tankers in the Gulf of Oman has pressurized the crude prices to march up. The attack has scaled up tensions between the U.S. and Iran, with Washington blaming Tehran for the attack and subsequent denial from Iran.

In India, the rise in the value of domestic rupee against the U.S. currency has helped the petrol prices to stay firm in Mumbai irrespective of its movement in the international markets.

20 June 2019
Petrol Rates in Mumbai Stays Unmoved

The petrol prices in Mumbai remained unmoved despite edging up in the global market amidst signs of easing tensions between the U.S. and China. The petrol rates in Mumbai were seen at Rs 75.63 per litre.

In the international markets, the crude benchmark – Brent stood at $62.27 per barrel, up by 0.21% and West Texas Intermediate was at $54.26 per barrel, up by 0.28%.

The Thursday’s attack on the oil tankers in the Gulf of Oman has made heightened tensions between the U.S. and Iran. Washington has accused Tehran of the attacks and has taken immediate action by deploying more than 1,000 of its soldiers in the Middle East Region to avoid any further attacks by Iran on the oil shipments in the region.

Though Iran has bluntly denied its involvement in the attack it has stated that it will breach internationally agreed curbs on its stock of low enriched uranium within the next 10 days.

The rekindled hopes of truce between the much-escalated trade tariff war between the U.S. and China has helped the crude prices to gain in the overseas markets. The leaders of both the countries are all set to meet in the upcoming G20 summit which will be held in Osaka, Japan during next week.

Meanwhile, the Indian rupee surged up against the dollar and was seen trading at 69.67 mark during today’s trade session. The rise in the value of rupee has helped to keep the petrol prices constant in Mumbai.

19 June 2019
Petrol Prices in Mumbai Remains Constant At Rs 75.63 Per Litre

The petrol prices in Mumbai remained constant despite witnessing a fall of over 1 per cent in the international market due to weak fuel demand. The petrol rates in Mumbai were seen at Rs 75.63 per litre.

In the global markets, the crude benchmark – Brent stood at $60.58 per barrel, down by 0.59% and West Texas Intermediate was at $51.67 per barrel, down by 0.50%.

The weak emerging economic data from China has dented the demand for crude in the overseas markets as the industrial growth output of the dragon country stood at 5.0% during May much lower than the analyst's expectations of 5.5% and April’s record of 5.4%. The trade war between the U.S. and China has taken a toll on the growth parameters of the dragon country which otherwise had a tag of the fastest growing economy of the world.

Added to this, the recent attack on two oil tankers in the Middle East region has also dented the demand for crude in the international market.

Meanwhile, the Indian rupee traded higher by 10 paise at 69.80 against the U.S. currency during today’s trade session. The rise in the value of the domestic currency has helped to keep the petrol prices firm in Mumbai.

18 June 2019
Petrol Prices in Mumbai Stays Flat

The petrol prices in Mumbai remained unmoved despite securing strong gains in the global markets amidst recent attack on two oil tankers in the Middle East region. The petrol rates in Mumbai were seen trading at Rs 75.63 per litre.

In the global markets, Brent has seen trading at $61.87 per barrel and West Texas Intermediate was at $52.36 per barrel.

The OPEC members decision to trim down crude supply by 1.2 million barrels per day (bpd) has given a boost to the crude prices in the global forum. The crude prices have shot up by over 30 per cent till date since the beginning of January 2019. The OPEC members and its non-member partners are all set to meet in the coming weeks to decide the next move. The rise in the crude supply to the oil industry is likely to bring down its prices.

The recent attack on oil tankers in the Middle East has again flared up tensions between the U.S. and Iran. Tensions between the two countries have escalated since U.S. President – Donald Trump pulled out of the Nuclear Deal with Iran last year which was aimed to curb Tehran’s nuclear ambition in exchange for sanctions relief.

This is the second attack on the oil tankers in the last month which has further pressurized the fuel prices to move up.

Meanwhile, the Indian rupee was seen the trading flat at 69.81 per dollar during today’s trade session as against the previous close of 69.80. The petrol prices in Mumbai is determined based on international crude prices and rupee-dollar currency exchange ratio.

17 June 2019
Petrol Prices in Mumbai Dips Despite Strong Gains in International Market

The petrol prices in Mumbai dipped slightly despite witnessing strong gains in the overseas markets amidst rising tensions in the Middle East Region over crude supply. The petrol rates in Mumbai stood at Rs 75.69 per litre, down by 19 paise.

In the global markets, Brent was seen trading at $62.01 per barrel, up by 0.44% and West Texas Intermediate was seen at $52.51 per barrel, up by 1.14%.

After waging a tough trade war with China for more than a year, the U.S. President – Donald Trump has turned his attention towards other trade partners. This time the policy is likely to raise the chances for a recession in the U.S. as well as in other countries across the globe.

The U.S. has suspended its duty-free benefits for Indian exporters and in retaliation for the same, India has levied tariffs on a list of 29 U.S. products which was pending for a long time since June 16, because the country was in the middle of Lok Sabha Polls season.

The recent attack on two oil tankers on the Gulf of Oman has pressurized the crude prices to surge up by more than 4%. This comes after a month of strikes on tankers on the coast of the United Arab Emirates and oil pumping stations in Saudi Arabia. The rising tensions in the Middle East region over a smooth supply of fuel has given a boost to the crude prices.

Meanwhile, the Indian rupee was seen trading at 69.88 during the previous day’s close against the U.S. dollar. The petrol prices in Mumbai is mainly determined based on the rupee-dollar currency exchange rate and crude prices in the international market.

15 June 2019
Petrol Prices in Mumbai Declines By 8 Paise

The petrol prices in Mumbai declined marginally despite edging up in the overseas markets amidst abundant crude supply. The petrol rates in Mumbai were recorded at Rs 76.04 per litre, down by 8 paise.

In the global markets, Brent stood at $60.77 per barrel and West Texas Intermediate was at $51.52 per barrel.

The OPEC members decision to trim down crude by 1.2 million barrels per day (bpd) has impacted its prices in the international market amidst imposition of U.S. sanctions on Iran and Venezuela over crude exports. The oil market is currently experiencing tightness which is the main reason behind surging crude rates in the international market. The crude prices have gained more than 30% so far in the global markets since the beginning of fiscal 2019.

The rise in crude stockpiles in the United States of America has helped its prices to cool off. As per the report from the U.S. Energy Information Administration (EIA), the crude stockpiles rallied up unexpectedly for a second week consecutively to touch 2.2 million barrels during last week after analysts had predicted a fall of 481,000 barrels.

Meanwhile, the Indian rupee value edged lower to touch 69.38 against the U.S. currency during today’s early trade session. The petrol prices in India is mainly decided based on international crude prices and the rupee-dollar exchange rate ratio.

13 June 2019
Petrol Rates in Mumbai Stays Unmoved

The petrol prices in Mumbai remained flat despite losing more than 2 per cent in the international market during today’s trade session owing to a surprise rise in U.S. crude output. The petrol rates in Mumbai were seen at Rs 76.12 per litre.

In the international markets, Brent was seen trading at $61.02 per barrel, down by 2.04% and West Texas Intermediate was at $52.07 per barrel, down by 2.25%.

The rise in the U.S. crude output despite rising expectations of OPEC members supply cuts have led to the decline in crude prices by over 2 per cent during today’s trade session. As per the report from the U.S. Energy Information Administration (EIA), the energy firm has trimmed the outlook for fiscal 2019 with respect to the world oil demand and U.S. crude oil production.

The EIA has declined its fuel demand growth forecast by 160,000 barrels per day (bpd) to touch 1.22 million bpd and withdrew its earlier forecast of U.S. Crude Production to 12.32 million bpd which is 140,000 bpd less than the May forecast.

The surprise rise in the U.S. crude fuel output has put a cap on rising crude prices in the international market.

Meanwhile, the domestic Indian rupee was trading flat at 69.32 mark against the U.S. currency during today’s trade session ahead of the IIP numbers and inflation report which is scheduled to be released today.

12 June 2019
Petrol Prices in Mumbai Stays Firm

The petrol prices in Mumbai remained firm despite edging up in the international markets amidst supply cuts by the OPEC member countries. The petrol rates in Mumbai were seen at Rs 76.12 per litre.

In the international markets, Brent stood at $62.63 per barrel, up by 0.55% and West Texas Intermediate was at $53.74 per barrel, up by 0.90%.

The assurance that OPEC members countries will continue to withhold crude supply to the oil industry helped its prices to gain marginally in the global markets despite growing signs of the slow growth of the global economy which in turn has curtailed the demand for crude.

Though OPEC members decision to trim down crude supply by 1.2 million dollars per day since the beginning of January 1, 2019, has paid off the price with crude gaining more than 30% in the international market, the ugly trade spat between the U.S. and China has also hurt the demand for fuel in the global markets.

Meanwhile, the Indian domestic rupee has appreciated against the U.S. dollar and was seen trading at 69.45 during today’s trade session. The rising rupee value against the dollar has helped to keep a tab on rising petrol prices in Mumbai.

11 June 2019
Petrol Rates in Mumbai Declines

The petrol prices in Mumbai inched down despite securing strong gains in the overseas markets amidst a drop in crude imports by China. The petrol rates in Mumbai were trading at Rs 76.12 per litre, down by 13 paise.

In the global markets, Brent was seen trading at $63.58 per barrel, up by 0.46% and West Texas Intermediate was at $54.29 per barrel, up by 0.56%.

The crude oil imports of China depreciated by 8% during May from an all-time peak which it had hit during April, as per the reports from customs data. The tightening of U.S. sanctions followed by a ban on crude exports from Iran has led to the decline of crude imports.

The dragon countries fuel import has dropped to 40.23 million tonnes during May from its earlier level of 43.73 million tonnes during April as per the data released by the General Administration of Customs Data.

The OPEC members decided to continue to withhold crude supply to the oil market to the tune of 1.2 million dollars per day has also affected its prices worldwide.

Meanwhile, the Indian rupee appreciated against the dollar and stood at 69.38 during today’s trade session. The rise in the value of Indian rupee has helped for the fall in petrol prices in Mumbai.

10 June 2019
Petrol Prices in Mumbai Declines By 22 Paise

The petrol prices in Mumbai declined despite gaining strongly in the overseas markets amidst tightness in the oil industry. The petrol rates in Mumbai were trading at Rs 76.41 per litre, up by 22 paise.

In the international market, Brent was seen trading at $63.29 per barrel, up by 2.63% and West Texas Intermediate was at $53.99 per barrel, up by 2.66%.

The OPEC members decision to trim down the crude supply to the oil industry to the tune of 1.2 million dollars per day has led to the tightening of supply in the market apart from boosting the prices of oil in the international market. The move was initiated starting from January 1, 2019. Till date, the OPEC member countries are withholding additional supply of crude and are not willing to change their stance.

On the other hand, the trade tensions between the U.S. and Mexico is likely to ease off as both the countries are in the midst of talks with each other and U.S. has withheld imposing tariffs on Mexican imported goods which were supposed to come into effect as on June 5, 2019. The U.S. President – Donald Trump, in a bid to stop illegal immigration of individuals across the border between the U.S. and Mexico has threatened to impose tariffs on goods imported from Mexico starting with 5% and increasing it every month regularly till it reaches up to 25% by October 5, 2019.

The domestic Indian currency appreciated against the dollar and stood at 69.39 mark during yesterday’s closing session. The rise in the value of domestic rupee has made the dollar-priced crude less costly and hence the petrol prices in Mumbai has declined.

8 June 2019

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