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 (₹84.82), 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 18, 2018||₹ 84.71||₹ 0.08|
|Aug 17, 2018||₹ 84.63||₹ 0.00|
|Aug 16, 2018||₹ 84.63||₹ 0.05|
|Aug 15, 2018||₹ 84.58||₹ 0.00|
|Aug 14, 2018||₹ 84.58||₹ 0.00|
|Aug 13, 2018||₹ 84.58||₹ -0.09|
|Aug 12, 2018||₹ 84.67||₹ 0.00|
|Aug 11, 2018||₹ 84.67||₹ 0.10|
|Aug 10, 2018||₹ 84.57||₹ 0.07|
|Aug 9, 2018||₹ 84.50||₹ 0.00|
|1 st July||Rs.82.94|
|Highest rate in July||Rs.84.33 on July 14|
|Lowest Rate in July||Rs.82.94 on July 2|
|Over all performance||Rising|
|1 st June||Rs.86.10|
|Highest rate in June||Rs.86.10 on June 1|
|Lowest Rate in June||Rs.82.99 on June 30|
|Over all performance||Falling|
|1 st May||Rs.82.48|
|Highest rate in May||Rs.86.24 on May 29|
|Lowest Rate in May||Rs.82.48 on May 6|
|Over all performance||Rising|
|1 st April||Rs.81.59|
|Highest rate in April||Rs.82.48 on April 24|
|Lowest Rate in April||Rs.81.59 on April 1|
|Over all performance||Rising|
|1 st March||Rs.79.45|
|Highest rate in March||Rs.81.41 on March 31|
|Lowest Rate in March||Rs.79.45 on March 1|
|Over all performance||Rising|
|1 st February||Rs.80.91|
|Highest rate in February||Rs.81.24 on February 6|
|Lowest Rate in February||Rs.79.38 on February 25|
|Over all performance||Falling|
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 $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.
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.
The petrol prices in Mumbai were up by 8 paise to settle at Rs 84.71 per litre starting at 6 am from today morning. India follows the dynamic fuel pricing technique wherein the prices of fuel is revised on a regular basis in sync with the crude oil prices in the global market.
The crude oil prices are increasing at a regular interval of time in the global market and today Brent was seen at $71.83 per barrel, up by 0.56% and WTI at $65.21 per barrel, up by 0.51%.
The trade tariff war between the U.S. and China has entered into the worst phase and this has affected most of the developing countries in the Asian region. The strong dollar has weakened other local currencies and this, in turn, has impacted the purchasing power as well as the demand for the fuel across the globe.
The strengthening U.S. dollar increases the oil importing countries import bill to a great extent as the crude oil is priced in terms of dollar and apart from this it also makes the crude oil more expensive to buy for the holders of other countries currencies.
Recently, the weak rupee against the dollar has inflated India’s crude oil import bill which is likely to jump by $26 billion for fiscal 2018-2019 as stated by a government official.
The value of rupee dipped to a low level to touch 70.32 per U.S. Dollar which led to the rise in the retail selling price of petrol, diesel and cooking gas in the country.
18 August 2018
The petrol rates in Mumbai remained stagnant today at Rs 84.63 per litre amid the rise in the crude oil prices in the global market.
The petrol prices in India mainly depends on international crude oil prices which is volatile in nature. The possible talks between the China and the U.S. over the recent trade tariff war is likely to ease out the escalating tensions which have affected most of the developing economies of the world.
The news about the trade talks has led to the surge in the crude oil prices in the global market with WTI at $65.68 per barrel, up by 0.34% and Brent at $71.75 per barrel, up by 0.45%.
China has agreed to hold low-level talks with the U.S. delegates in Washington during this month with a hope to resolve the trade war which was launched by the Donald Trump, President of the United States of America.17 August 2018
The petrol prices in Mumbai have gone up today by 5 paise per litre bringing the petrol rates to Rs 84.63 per litre. The residents of Mumbai pay the highest price to buy a litre of petrol compared to their counterparts across the country due to the high value-added tax levied by the state government of Maharashtra.
The petrol rates are revised on a daily basis in India in sync with the global crude oil prices, rupee-dollar exchange rates, demand and supply, logistics, geopolitical factors and so on. The geopolitical tension between the U.S. and Iran has led to the surge in the crude oil prices in the global market.
The White House is trying its best efforts to reduce the oil export from Tehran by persuading its member countries to cut down the oil imports from the oil major as a part of its sanctions. Analysts believe that the U.S. intention to remove 1 billion barrel of Iranian oil from the market by early November will impact crude oil prices and it may jump to as high as $150 per barrel in the coming months.
As of now, the crude oil prices in the international market is up with WTI Crude at $65.11 per barrel, up by 0.15% and Brent was at $71.13 per barrel, up by 0.52% in the international market.16 August 2018
The petrol rates in Mumbai has not changed today amid an increase in the prices of crude oil in the global market.
The petrol prices in Mumbai currently stands at Rs 84.58 per litre across all the fuel filling stations. The prices of petrol is varying on a regular basis in the country over the last few days due to volatility in the global oil industry.
In the international market, the crude oil prices increased slightly with WTI at $68.03 per barrel, up by 1.24% and Brent at $73.47 per barrel, up by 1.18%.
As an effort to save the market share in terms of oil supply to other countries Iran has reduced the prices of the crude oil to its member countries as the U.S. Sanctions on Tehran kicks in after a few weeks from now.
According to a report, the National Iranian Oil Company has cut the oil prices for its Asian clients in the range of $0.75-$0.90 per barrel and by $0.50 per barrel for its western clients.14 August 2018
The petrol prices in Mumbai, the financial capital of India has remained constant today despite fall in the crude oil prices in the global market. The people of Mumbai have to pay Rs 84.67 per litre of petrol across all the fuel stations.
The petrol rates in India is changed on a regular basis and the changed prices come into effect starting from 6 am in the morning. The rates of fuel is dependent upon various factors and it includes dollar-rupee exchange rate, demand and supply rate, global crude oil rates, logistics and so on.
Currently, the crude oil prices in the international market have slipped slightly and WTI was seen trading at $67.60 per barrel, down by 0.04% and Brent was at $72.64 per barrel, down by 0.23%.
The U.S. sanctions on Iran which will come to effect by early November has created volatility in the oil industry. Analysts expect that the continuation of the present situation will result in the surge of the crude oil prices which is likely to touch $90 per barrel by the second quarter of 2019.
China, the Tehran’s largest oil importer will continue to secure oil from the oil major despite the U.S. sanctions, though it has agreed with the White House to reduce the volume of importing oil from Iran.13 August 2018
The petrol prices in Mumbai, the financial capital of India were up today by 10 paise per litre touching Rs 84.67 per litre. The petrol rates in Mumbai is the highest in the country when compared against other cities and metropolitan cities owing to high state-level value added tax imposed by the Maharashtra government.
The fuel prices will be fixed by the oil marketing companies in India depending on the global fuel prices, rupee-dollar currency exchange rate. Oil marketing companies in the country follow the dynamic fuel pricing technique.
The regular increase in the prices of fuel is creating a big hole in the consumer's pockets and it will also affect the inflation rates of the country.11 August 2018
The petrol prices in Mumbai, the financial capital of India were up today by 7 paise across all the fuel stations since 6 am in the morning. With this, the residents of Mumbai has to pay Rs 84.57 per litre to buy petrol.
The petrol rates is highest in the Mumbai city owing to the high tax levied by the state government in the form of value added tax which stands at 39.78%.
Oil marketing companies in India are currently looking out for a permanent alternative to replace Iranian oil imports to avoid wrath from the U.S. which has set an ultimatum to all the oil importing countries from Iran to stop importing oil by November 4, as a part of the U.S. sanctions on the oil major.
The escalating trade tariff war between the U.S. and China has led to the fall of the Asian stock markets. Both the countries are threatening to charge higher tariffs on each other's imported products as a part of retaliation.
The crude oil prices dipped in the international market. Brent, the benchmark of crude was trading at $71.55 per barrel, down by 0.72% and WTI Crude was at $66.47 per barrel, down by 0.55%.10 August 2018
The petrol prices in Mumbai, the financial capital of India has remained constant from the last few days despite fall in the crude oil prices in the international market. The residents of Mumbai has to pay Rs 84.50 per litre for petrol across all the fuel pumps in the city.
The state government of Maharashtra levies high state-level value added tax on petrol in Mumbai city and it stands at 39.78%. Hence the residents of Mumbai pay a high price for a litre of petrol compared to their counterparts in other cities across the country.
India’s top refiner – Indian Oil Corporation has purchased 6 million barrel of U.S. crude oil for delivery between November – January through a mini-term tender as a measure to replace Iran’s crude oil purchase. The state-run oil marketing company is reported to have bought 2 million barrels of U.S. Mars, 1 million barrel of Mars and Eagle Ford each in a combination cargo slated for December delivery. Another 2 million barrels of Louisiana Light Sweet is set to be delivered during January. With this India has found an alternative for short-term as a replacement for Iran’s crude oil supply.
Meanwhile, the crude oil prices in the international market slipped further with WTI at $66.67 per barrel and Brent crude, the benchmark of crude was trading at $72.06 per barrel.9 August 2018
The petrol prices in Mumbai, the financial capital of India has remained stagnant today at Rs 84.50 per litre. The prices of fuel rallied in India following cues from the global market over the last few days owing to volatility in the oil industry.
India depends on oil importing countries for fuel. The state-run oil marketing companies fix the prices of petrol and diesel in India in sync with the global oil prices. Any increase or decrease in the fuel prices in the international market will have a repellent effect on the domestic prices in India.
The fuel prices in the global market are inching up towards $75 mark and analysts expect that it is likely to cross $90 per barrel by the year-end. WTI Crude is currently trading at $69.24 per barrel, up by 0.10% and Brent Crude at $74.68 per litre, up by $0.04%.
The U.S. pulled itself out from the U.S. - Iran Nuclear deal and passed out sanctions against the oil major which led to the surge in the fuel prices in the global market.8 August 2018
The petrol prices has been hiked by 20 paise in Mumbai, the financial capital of India with effect from 6 am in the morning today. With this, the residents of Mumbai has to pay Rs 84.14 per litre across all the fuel stations.
This is the third hike in the petrol prices from last three days in the country amid decline in the prices of crude oil in the international market.
India is an oil importing country and it depends on Iran to procure oil. But currently, Iran is facing sanctions from the U.S. after the U.S. pulled itself out of the U.S. - Iran Nuclear Deal. On Monday-August 6, the first set of the U.S. sanctions on Iran will snap back and the White House is likely to set tough actions in the coming months. Apart from this, the White House has set an ultimatum to all the oil importing countries to stop importing oil from Iran by November 4 which has led to the volatility in the oil industry over the last few weeks.
To reduce the tension, Saudi Arabia led OPEC member countries has surged the oil production to meet the global demands which in turn has declined the prices of crude oil in the global market and currently WTI Crude is down by 0.68% at $68.49 per barrel and Brent is down by 0.33% at $73.21 per barrel.4 August 2018