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 ₹ 107.83 (4th August 2021), 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.
|Aug 3, 2021||₹ 107.83||₹ 0.00|
|Aug 2, 2021||₹ 107.83||₹ 0.00|
|Aug 1, 2021||₹ 107.83||₹ 0.00|
|Jul 31, 2021||₹ 107.83||₹ 0.00|
|Jul 30, 2021||₹ 107.83||₹ 0.00|
|Jul 29, 2021||₹ 107.83||₹ 0.00|
|Jul 28, 2021||₹ 107.83||₹ 0.00|
|Jul 27, 2021||₹ 107.83||₹ 0.00|
|Jul 26, 2021||₹ 107.83||₹ 0.00|
|Jul 25, 2021||₹ 107.83||₹ 0.00|
|Highest rate in August||Rs.107.83 on August 1st|
|Lowest Rate in August||Rs.107.83 on August 1st|
|Over all performance||No Change|
|Highest rate in July||Rs.107.83 on July 17th|
|Lowest Rate in July||Rs.104.90 on July 1st|
|Over all performance||Rising|
|Highest rate in June||Rs.104.90 on June 29th|
|Lowest Rate in June||Rs.100.72 on June 1st|
|Over all performance||Rising|
|Highest rate in May||Rs.100.47 on May 31st|
|Lowest Rate in May||Rs.96.83 on May 1st|
|Over all performance||Rising|
|Highest rate in April||Rs.96.98 on April 1st|
|Lowest Rate in April||Rs.96.83 on April 15th|
|Over all performance||Falling|
|Highest rate in March||Rs.97.57 on March 1st|
|Lowest Rate in March||Rs.96.98 on March 30th|
|Over all performance||Falling|
|Highest rate in February||Rs.97.57 on February 27th|
|Lowest Rate in February||Rs.92.86 on February 1st|
|Over all performance||Rising|
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.
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.
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 $40 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.
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 currently end-up paying Rs 88 per litre. This is not good and the government must thing of reducing the taxes on petrol, so as to benefit the common man. However, it would be very important to check the petrol rates before you fill your car or vehicle tank.
One can easily monitor the latest petrol updates via an SMS service or a customer support service operated by state-owned oil firms including Bharat Petroleum (BP), Hindustan Petroleum (HP), Indian Oil and Shell Oil. And also he / she can search online by visiting either of these oil firms' websites. Following the below-given methods, fuel consumers of Mumbai can check the current price of Mumbai from the comfort of their home and office.
Type: RSPDEALER CODE and send it to 9224992249
For Indian Oil- 9224992249
The specifics are also available on company websites and mobile applications such as Fuel@IOC, Smart Drive (BPCL), and My HPCL.
The price of petrol and diesel has shown a huge spike in recent months in Mumbai and other parts of the state. Also, earlier in March 2020, for both automobile fuels, the state government had raised VAT (value added tax) by Re 1 litre each. Amid the lockdown caused by coronavirus, several governments have increased fuel taxes to increase revenues and also the central government had raised the excise duty on both automobile fuels. However, the increase in excise duty did not translate into a related rise in retail prices, as it was modified to the decline in crude oil rates. Different taxes, including taxes levied by both state and central governments, accounted for around 70% of retail costs. The VAT on petrol and diesel in Maharashtra is 26% and 24% respectively.
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 and diesel prices continue to change on a daily basis and it is assumed that identifying the perfect fuel price is a hurdle as the main issue in people's minds is how to verify the appropriate fuel price of Mumbai or any other specific city of India. However, various oil and gas companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum have resulted in various ways of maintaining a tab on reshaping fuel costs, and the best way to track the rate changes is by downloading mobile apps through which Indian fuel consumers can easily track the perfect oil and diesel prices with ease. Top metro cities like Mumbai, Delhi, Kolkata, Bengaluru, Chandigarh, Chennai and much more had initiated the Dynamic Fuel Pricing mechanism on June 2017, of petrol and diesel prices. The fuel prices differ due to local taxes and other costs, across states. However, Mobile apps allow fuel consumers to check on-the-go oil prices and one can also view the current fuel rates through SMS services or visit a specific oil company's website as discussed above. Here are the mobile applications which allow you to keep up to date with the latest fuel price from your comfort on a regular basis.
Fuel@IOC-Indian Oil mobile app enables the fuel consumers of Indian oil to easily track the fuel rates of Mumbai or any other city of India from the comfort of their home or office. This app is available to install on both IOS and Android platforms. IOS users can open App Store and search for the app to download whereas Android users can search and download the same by opening the Google Play Store. Indian Oil's mobile application helps users to check for the new fuel prices, any time anywhere. Before going out you can just open your mobile to check the latest fuel price of your city or locality, means the convenience and user-friendly is just in your fingertips. Using this app you can easily understand about the current market pattern of fuel price in Mumbai. Fuel@IOC-IndianOil is available for free for both Apple and Android devices, which are the most popular operating systems. You can directly access Indian Oil's official website in case you do not have IOS or Android mobile. By visiting the website or by using the mobile app of Indian Oil you can conveniently monitor the current fuel price of Mumbai or your locality without leaving your comfort.
BPCL's SmartDrive mobile application enables consumers to maintain record of fuel station purchases and also assists in identifying local fuel stations. SmartDrive is programmed to gather information about consumers and vehicles so that they can give you daily updates about your vehicle's PUC, insurance and service, and is accessible in both the Google Store and the Apple Store. SmartDrive also contains information of all the loyalty purchases on Petrocard and SmartFleet, in relation to specifics of the fuel rates of Mumbai. Your reviews will help the BPCL to better service you, you are very welcome to value the Fuel Stations' enhanced services at SmartDrive app. You can post pictures of the filling stations that you are satisfied with and express the frustration that you have felt at each of their fuel stations. SmartDrive has a means of establishing a positive partnership with the clients and partners, and at every action you take they pledge that they will stroll with you and be the option for your fuel needs. Cherish the Bharat Petroleum drive and download the SmartDrive App today to stay tuned with the latest petrol price of Mumbai.
My HPCL mobile app issued Hindustan Petroleum also introduces a better category to keep abreast with the updated and accurate petrol price of Mumbai. or Android, IOS and Windows users, the mobile app is available for download for free. In addition to offering the revised petrol price of Mumbai on a regular basis, this app also has some interesting features for the fuel consumers of Mumbai such as Outlets & Services, My Vehicle, Updates, customer support section, Feedback, Assistance & Tips and also provides access to Insurance Renewal (with alliance company), DTPLUS (HPCL Rewards Scheme for fleet owners) and HPGAS (LPG). Even though the overall trend is believed to be buyer-centred, fuel prices are now calculated across all parts of the country based on global market dynamics and USD to INR price fluctuations. Mumbai's petrol consumers can conveniently search the city's new gas prices from the convenience of their residence or workplace. Consumers can reach the revised cost of petrol every morning with a few taps before going to the office or filling their vehicle's fuel container. Petrol consumers of Mumbai who do not have a smartphone can also visit the official website of HPCL or else he / she can use the SMS service or the toll-free number of HPCL to track the latest petrol price of the city regularly.
What is the fixed limit GST rate up to date? Definitely, that is 28 per cent. Such as petrochemicals, petrol is not covered by GST, which means for Goods and Services Tax. If GST is to be adopted, all tax elements should be omitted from the current fuel price overview of the market.. And the retail selling price (RSP) of petrol will decrease by a wide margin if GST were introduced at its highest stage, i.e. 28 per cent. The change will destroy the revenue source of Maharashtra’s government and the central government. It is the central government's authority to import petrol under the GST system. Conscious of the sectors of natural gas and oil? The whole oil and natural gas market has been put beyond GST's authority. The sector has many participants, ranging from OMCs to fuel bunker operators. It is expected that the implementation of GST in the sector will have a negative impact on its participants. For example, industry players are forced to comply with double tax regimes, creating higher delivery cost. The GST authority may recommend increasing the tax rate to make sure that petrol is imposed under the GST regime and that the revenue stream of the state and central government remains constant.
The petrol prices were hiked in Mumbai despite a fall in the fuel prices in the international markets amidst disagreement between the members of the OPEC amidst ongoing talks.
The petrol rates in Mumbai traded at Rs 105.92 per litre.
On the global platform, Brent was seen at $76.39 per barrel; West Texas Intermediate (WTI) at $75.35 per barrel.
On Friday, the members of OPEC voted to increase production by about 2 million barrels per day (bpd) from August through December 2021 and to extend the remaining output cuts to the end of 2022. But the decision received objections from the United Arab Emirates (UAE), resulting in the prevention of an agreement.
It was a rare public disagreement between the members of the oil producers club, as national interests were increasingly diverging, impacting the OPEC + policy as oil users want more oil as their economies revive from the coronavirus pandemic.
An analyst from ANZ notes that the latest move raises the bar of the oil producers club’s alliance which has shown great unity which resulted in rebalancing the market following a collapse in demand. A break-up could result in a free-for-all leading to a drop in the prices.
Meanwhile, Saudi Arabia’s Energy Minister sought on Sunday to push back against UAE’s opposition to the proposed deal of OPEC and called for compromise and rationality to get unanimity when the members meet again on Monday.5 July 2021
The petrol prices gained in Mumbai despite witnessing a drop in the international markets amidst delay in the outcome of the OPEC + supply meeting. The petrol rates in Mumbai recorded at Rs 99.16 per litre.
On the global forum, Brent was seen at $75.55 per barrel, down by 0.38%; West Texas Intermediate (WTI) at $74.74 per barrel, down by 0.65%.
Both the U.S. crude benchmarks contracts recorded gains on Thursday on unexpectedly cautious plans made by the Organization of the Petroleum Exporting Countries (OPEC). The proposal was supported by Saudi Arabia and Russia, noted sources.
The oil prices retreated though after the plan received some resistance from the UAE and OPEC + which postponed a ministerial meeting.
The members of the OPEC had met yesterday to decide on the fate of future global crude supply amidst rampantly rising newly found delta covariant.
Both the benchmark contracts had recorded gains on unexpectedly cautious plans by the OPEC and its allies.
WTI is on track as it posted a 1.4% hike during the week as the U.S. crude market expected to tighten as refinery runs picked up to meet recovering gasoline demand.
Brent on the other hand, slipped down by 0.7% during the week. The drop was in reflection over growing concerns about the fuel demand in parts of Asia which is witnessing rising cases of highly contagious coronavirus delta variants.
Analysts from Citibank note, they do not expect WTI to climb to touch a premium to Brent because they expect the U.S. oil output to pick up at the end of fiscal 2021 and grow further in fiscal 2022.2 July 2021
The petrol prices are stable in Mumbai despite its rally in the international markets ahead of the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies later today. The petrol rates in Mumbai recorded at Rs 104.90 per litre.
In the overseas scenario, Brent was seen at $76.52 per barrel, up by 2.55%; West Texas Intermediate (WTI) at $75.76 per barrel, up by 3.12%.
Both the crude benchmarks have managed to touch $75 a barrel during today’s trade session, marking its highest since fiscal 2018. The oil prices are nearly three-year-high ahead of a decision from the oil producers club on the production policy for the second half of 2021.
Since the beginning of fiscal 2021, the West Texas Intermediate (WTI) has managed to climb up over 50% at around $48.5 per barrel. The improved fuel demand has bolstered the fuel prices to march up in the overseas markets.
The revival of the crude demand has weighed on the fuel prices to march up. The easing of the economies has increased the movement of people and rebound in goods transportation and air travel as well.
The WTI has recorded growth of over 50% since the beginning of fiscal 2021 at around $48.5 per barrel.
The prices of gasoline have also surged on the back of a post-pandemic driving spree. Hence a $75 a barrel of crude will mean even higher prices at the pump.1 July 2021
The petrol prices are stagnant in Mumbai despite slipping in the international markets amidst a drop in the U.S. stockpiles. The petrol rates in Mumbai traded at Rs 104.90 per litre.
In the overseas scenario, Brent traded at $75.36 per barrel; West Texas Intermediate (WTI) at $73.96 per barrel.
The outbreak and rampant spreading of the highly contagious Delta covariant across many parts of the globe has prompted new lockdowns. The situation has weighed on the fuel demand revival.
The oil prices traded flat on Wednesday as they headed for monthly and quarterly gains after data suggested the shrinking of U.S. crude stockpiles.
Both the U.S. crude contracts are just below the highs they had reached last in fiscal 2018 and are set to record their seventh monthly rise in the past eight months.
Investment management firm, Goldman Sachs expects that demand will increase further by 2.2 million bpd by the end of fiscal 2021, leaving a 5 million bpd supply shortfall.
Meanwhile, an internal report of OPEC seen by Reuters highlights that the oil markets are likely to return to a glut situation after the oil producers club is expected to unravel oil production trims of under 6 million barrels per day (bpd) by April 2022.
The members and their allies are meeting to decide on the fate of the future of the crude supply during tomorrow’s meeting.30 June 2021
The petrol prices inched up in Mumbai despite a fall in the global crude rates amidst the rampant spreading of Delta co-variant in many parts of the world. The petrol rates in Mumbai traded at Rs 104.90 per litre.
In the international forum, Brent was spotted at $74.96 per barrel, up by 0.37%; West Texas Intermediate (WTI) at $73.20 per barrel, up by 0.40%.
The crude prices declined for a second straight day on Tuesday on growing worries over a slow down in the oil demand amidst a surge in the outbreaks of the newly contagious coronavirus variant Delta. The situation has sparked new mobility restrictions across the globe, weighing on the fuel prices to slide.
The members of the oil producers club set to meet on July 1 to decide on the future of the global crude supply. But the current surge in the Delta variant cases may weigh on the outcome of the OPEC meeting.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies had earlier forecasted the oil demand to improve during the fourth quarter of 2021. They had also predicted that the worldwide fuel supply will fall short of demand by 2.2 million barrels per day (bpd), giving the producers some room to agree to increase output.
The analysts expecting the OPEC + members to step up fuel supply by about 500,000 bpd in August, as the market has tightened on strong growth in fuel demand in America and China, the world’s top two oil consumers.29 June 2021
The petrol prices were stagnant in Mumbai despite a drop in the global crude rates ahead of the meeting of the OPEC and its member partners. The petrol rates in Mumbai traded at Rs 104.56 per litre.
In the overseas forum, Brent was trading at $76.01 per barrel, down by 0.22%; West Texas Intermediate (WTI) at $73.97 per barrel, up by 0.11%.,
The fuel prices managed to rise for the fifth week as improved fuel demand rebounded on strong economic growth and increased travel during summer in the northern hemisphere, while crude supplies worldwide stayed snug following maintained production cuts by the OPEC and its allies.
The oil producers club is returning around 2.1 million barrels per day (bpd) to the markets starting from May through July as a part of their earlier plan to gradually ease last year’s deeper output cuts.
The crude rates surged up to hit record highs and then recoiled from highs last seen during October 2018 on Monday’s trade session. Investors focused their eyes on the outcome of the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies as the United States and Iran wrangle over the revival of the nuclear deal.
The members of the OPEC will be meeting on July 1, to decide on the future of the global crude supply for August amidst improved fuel demand recovery.
Analysts from ING and ANZ expect the OPEC + members to increase crude production by about 500,000 bpd during August, which is likely to uplift the oil prices.28 June 2021
The petrol prices surged up in Mumbai following trends from the international markets amidst growing fuel demand. The petrol rates in Mumbai traded at Rs
104.22 per litre.
In the global scenario, Brent was seen at $76.18 per barrel, up by 0.82%; West Texas Intermediate (WTI) at $74.05 per barrel, up by 1.02%.
On Friday, the oil prices continued their rally in the international markets for the fifth consecutive week in a row on expectations of demand growth that will outstrip supply.
The robust vaccination drive in several countries including the U.S., Europe and China have weighed on the oil prices to gain amidst the reopening of economies.
On Thursday, both the U.S. crude benchmark contracts settled at their highest level since October 2018.
Meanwhile, all eyes will now be on the upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) + allies are due to meet on July 1 to discuss the further easing of output cuts starting from August.
On the demand side, the oil producers club will have to consider the improved fuel demand in Europe, the United States of America and China following huge vaccination rollouts and reopening economic activities.
The crude rates also secured support amidst the approval of the U.S. infrastructure bill bolstered optimism amidst the energy demand outlook.
The outbreak of the pandemic crisis has diminished the fuel demand worldwide, weighing on its prices to slump. But the gradual reopening of the economies and easing of the travel-related restrictions has improved the oil demand.26 June 2021
The petrol prices were untouched in Mumbai despite a marginal drop in the crude rates in the international markets as oil clocks fifth consecutive weekly gain. The petrol rates in Mumbai recorded at Rs 103.89 per litre.
On the global platform, Brent was seen at $75.44 per barrel, down by 0.16%; West Texas Intermediate (WTI) at $73.13 per barrel, down by 0.23%.
On Thursday, both the U.S. crude benchmark contracts settled at its highest levels since October 2018.
Analysts note that with a larger drop in the oil inventories, the fuel prices are likely to surge higher during the third quarter of 2021.
The crude prices slipped during Friday’s trade session, yet they were on track for the fifth consecutive week in a row on expectations of demand growth which will outstrip supply.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies will be treading cautiously over returning more crude supply to the markets beginning from August 2021.
The fuel prices also found support as the approval of the U.S. infrastructure bill which bolstered optimism over the fuel demand outlook.
The members of the oil producers club will be considering the following key factors on the demand side - the strong growth in Europe, the U.S. and China. The vaccination drive in these countries has led to reopening of economies helping the fuel demand to shoot up.25 June 2021
The petrol prices marched up in Mumbai despite a slight fall in the global crude rates as the oil still hovers at nearly three years high in the international markets on signs of recovery. The petrol rates in Mumbai were seen at Rs 103.89 per litre.
In the overseas markets, Brent stood at $74.72 per barrel, down by 0.63%; West Texas Intermediate (WTI) at $72.58 per barrel, down by 0.68%.
Both the U.S. crude benchmarks had touched their highest since October 2018 on Wednesday’s trade session before slightly sliding down.
The U.S. crude inventories witnessed a surprise slump by 7.2 million barrels for the week ending June 18, as per the reports from the American Petroleum Institute (API).
The sharp fall in the U.S. inventories and uncertainty over the future of the nuclear deal of Tehran has boosted the oil price to scale up during the recent trade sessions.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies will meet on July 1, to discuss the future of the global crude supply after unwinding last year’s record deeper output cuts to support prices. But two sources close to the oil producer’s club revealed that no decision has been made yet.
OPEC and its allies decided to go for deeper output cuts starting from May 2020 after crude prices crashed to zero and traded at negative prices following the outbreak of the pandemic crisis.24 June 2021
The petrol prices traded flat in Mumbai despite inching up global crude rates in the international scenario amidst a huge drop in the U.S. crude stockpiles. The petrol rates in Mumbai traded at Rs 103.63 per litre.
In the global forum, Brent was seen at $75.35 per barrel, up by 0.72%; West Texas Intermediate (WTI) at $73.28 per barrel, up by 0.59%.
The American Petroleum Institute (API) industry group reported that the crude stocks declined by 7.2 million barrels for the week ending on June 18, as per two market sources.
The fall is much bigger than the drawdown of analyst’s expectations of 3.9 million barrels.
On Wednesday, the fuel prices surged up in the global markets as industry data revealed that the U.S. crude stockpiles declined more than expected. The situation has reinforced views of tightening supply-demand balance with air and road travel picking up in North America and Europe.
If the official figures reported from the U.S. Energy Information Administration gets confirmed, it would be the fifth straight weekly drop, showing that the U.S.market is tightening.
The Organization of the Petroleum Exporting Countries (OPEC+) members will be deciding on the future of the global crude supply once they meet on July 1 as they are taking stock of the demand recovery.23 June 2021