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Petrol Price in Mumbai (21st June 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.

Petrol Price in Mumbai Today (Applicable from 6 am)

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
Jun 20, 2018 ₹ 84.06 ₹ 0.00
Jun 19, 2018 ₹ 84.06 ₹ -0.12
Jun 18, 2018 ₹ 84.18 ₹ 0.00
Jun 17, 2018 ₹ 84.18 ₹ 0.00
Jun 16, 2018 ₹ 84.18 ₹ 0.00
Jun 15, 2018 ₹ 84.18 ₹ -0.08
Jun 14, 2018 ₹ 84.26 ₹ 0.00
Jun 13, 2018 ₹ 84.26 ₹ 0.00
Jun 12, 2018 ₹ 84.26 ₹ -0.15
Jun 11, 2018 ₹ 84.41 ₹ -0.20

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, May 2018
  • Petrol Price
    1 st May Rs.82.48
    31st May Rs.86.16
    Highest rate in May Rs.86.24 on May 29
    Lowest Rate in May Rs.82.48 on May 6
    Over all performance Rising
    % Change +4.27%
  • Trend of Petrol Rate in Mumbai, April 2018
  • Trend of Petrol Rate in Mumbai, March 2018
  • Trend of Petrol Rate in Mumbai, February 2018
  • Trend of Petrol Rate in Mumbai, January 2018
  • Trend of Petrol Rate in Mumbai, December 2017

Petrol Price in Maharashtra State and Major Cities

In Maharashtra petrol is used in day to day life as an essential commodity and used primarily for transportation purpose. It is important to track petrol rates in Mumbai and other cities as the same is changed everyday by oil marketing companies like IOC, HPCL and BPCL at the petrol pumps in Maharashtra. At the same time, it is essential to know the daily petrol price that is changing slightly every day in major cities of Maharashtra like Pune, Nagpur, Nashik, Aurangabad and Solapur etc... Prior to Capital/Metro city Mumbai, petrol prices may also vary slightly from city to city in Maharashtra.


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 Down by 12 Paise in Mumbai

The petrol prices in Mumbai was cut by12 paise after a gap of three days. In other cities, the prices of petrol are down by 8 paise. The state-owned oil companies decided to reduce the prices of the petrol as the global crude oil prices fell by close to one percent on Tuesday due to the escalation of the trade war between the United States and China.

The petrol prices in the financial capital of India were recorded at Rs 84.06 per litre on Tuesday.

The WTI Crude oil is currently trading at $64.85 per barrel and Brent crude oil has eased out its previous stand and stands at $74.88 per barrel.

Lots are expected out of the producer cartel Organization of the Petroleum Exporting Countries (OPEC) and their key ally Russia which is likely to up the oil output after with holding up supplies since 2017.

The OPEC members along with the non-OPEC producers which include Russia decided to end a global glut and increase the prices of fuel and thus decided to with-hold the oil supplies during 2017.

India mainly depends on oil imports to fulfill the country’s domestic requirements. The country ranks third in terms of oil consumption with a daily oil consumption of 4.3 Mmbpd (million barrels per day) during 2017. India’s consumption of oil rose by 1.8% during the previous year owing to the increased domestic demand.

Petrol Prices Stable in Mumbai

The prices of petrol remained constant in Mumbai for two days and are recorded at Rs 84.18 per litre after the recent cut in its prices by 8 paise on June 15.

The petrol prices had skyrocketed during last month due to the upsurge in the prices of Brent Crude oil which touched $80 per barrel rising concerns amongst oil exporting countries in the world.

The Brent crude oil prices have shrunk and were recorded at $73.50 per barrel in the global market. India depends on 80% of oil imports to fulfill its domestic requirements. Any upward or downward movement in the prices of the fuel in the international level will directly have a bouncing effect on the prices of the fuel in the domestic market.

The Organization of the Petroleum Exporting Countries popularly known as OPEC is meeting this week in Vienna, to take a decision to ease the output limits that were put in place during last year. The existing agreement has declined the oil output to the tune of 1.8 million barrels per day.

Petrol Prices Down by 8 Paise in Mumbai

The petrol prices in Mumbai is down by Re 0.08 per litre today after maintaining steady prices from the past two days.

The price of petrol stands at Rs 84.18 per litre in Mumbai the financial capital of India on Friday.

The prices of petrol reached its peak in the month of May and it was recorded at Rs 86.24 per litre on May 29. The reason behind the surge in the prices of petrol in India is mainly attributed to the crude oil which hit a record high of $80 per barrel up from the usual price of $66 per barrel in the global market.

India mainly depends on oil imports to fulfill domestic requirements. Any positive or negative impact on the prices at the international level will have simultaneously effect on the prices of the fuel in the domestic market. Currently, the Brent crude oil prices have eased out and are trading at $75.66 per barrel down by 0.37% from the previous close in the international market.

Petrol Prices Remains Constant in Mumbai

The prices of petrol in Mumbai did not change on Thursday and stood at Rs 84.26 per litre.

The crude oil prices in the global market reached its peak of $80 per barrel against the usual price of $66 per barrel which affected the prices of fuel amongst those countries which mainly depend on oil imports.

The prices of fuel in the country rose for a continuous record period of 16 days at a stretch, which triggered inflation rates apart from creating a big hole in the consumer's pockets. The government’s decision to cut the prices of the fuel was a welcome move amongst the consumers which also brought in some dip in the inflation rates.

India mainly depends on oil imports to fulfill its domestic requirements to the tune of 80%. Previously the country imported 213.93 million tonnes of crude oil during 2016-2017 for $70.196 billion.

Any kind of change in the currency exchange rates fluctuates the import bill. The same also implies for change in the dollar value per barrel in crude oil prices which impacts the import bill to the tune of Rs 823 crores (US$0.13 billion).

Petrol Prices Dips by 20 paise in Mumbai

The prices of petrol declined further for the thirteenth day in a row as the major oil companies reduced the prices of fuel.

The crude oil prices in the global market have declined which in turn has helped the oil companies to step in to reduce the price of the petrol and diesel respectively amidst the growing demand of the consumer.

The petrol prices in Mumbai stands at Rs 84.41 per litre down by 20 paise from the previous price.

The Brent crude oil hit an all-time high of a record $80 per barrel, but now it trades at $76.18 per barrel thus helping the oil companies to reduce the prices.

Prices of Petrol Dips in Mumbai

The petrol prices in Mumbai were down by 21 paise. The current prices of petrol in Mumbai stand at Rs 85.24 per liter as against yesterday’s Rs 85.45 per liter. The decline in the prices of petrol has brought in a relief for the customers who earlier had to reel under the hike in the petrol prices regularly on a day-to-day basis.

The prices of petrol depend on various factors which include the cost of crude oil, mismatch of demand and supply, increased demand, rupee to dollar exchange rate, tax rates and so on.

India stands third in terms of oil consumption with around 212.7 million tonnes of oil usage in the year 2016 succeeding the United States of America and China. Any increase or decrease in the prices of petrol in the global market will directly impact the prices of fuel in the domestic market.

Petrol prices fall for 9th straight day

 It was good news for vehicle owners as Mumbai petrol prices today saw a dip for the ninth straight day. Petrol prices in the city has now fallen by as much as Re 1 in nine days, giving some respite to consumers.

 On May 31, the fuel was at Rs 86.24, but, has now reduced to Rs 85.24. However, this is still nowhere close to where petrol and diesel were trading before prices were frozen due to the Karnataka elections.

 Brent Crude has been falling over the last few trading sessions, and the rupee too has strenghthened, which has led to some fall in prices of both petrol and diesel. However, analysts say that the joy maybe shortlived, we we might see Brent crude once again surging, if there are supply worries from Venezuela or other parts of the globe.

 For the time being consumers in Mumbai have got some respite.

Petrol Prices Down By 12 Paise in Mumbai

The rates of petrol were cut by 12 paise in Mumbai, following a 16-day uninterrupted hike in the prices of petrol over the last few days in India.

Today, the prices of petrol in Mumbai stood at Rs 85.65 per liter, down from yesterday’s Rs 85.77 per liter.

The decline in the prices of the fuel has received a positive response from the customers.

The reason behind the regular increase in the price was attributed to the crude oil hitting its highest peak of $80 per barrel in the United States which synchronously affected the prices of fuel across the countries which mainly depends on oil imports.

India depends on 80% of oil imports to fulfill its domestic requirements. The increase in the prices of fuel impacted on inflation rates as vehicles are used to transport vegetables, fruits, milk, food items and so on from one place to another.

With the decline in the fuel prices, the rate of inflation is also expected to come down modestly.

Petrol Prices Down By 6 Paise In Mumbai

The prices of petrol were down by 6 paise today in Mumbai and now it stands at Rs 86.10 per liter.

After 16-days of continuous hike in the prices of petrol, the oil agencies in India has started to cut the price on a marginal basis from the past three days, bringing in respite to the consumers who otherwise had to bear with the shock of the surging petrol prices.

The rise in the prices of the crude oil in the international market in mid-May led to the hike in the prices of fuel across the globe. The Brent crude oil in the US hit an all-time high of $80 per barrel which simultaneously impacted the prices of fuel to go up.

The crude oil prices are declining gradually over the last few days and at present, the price of Brent crude oil stands at $77.71 per barrel.

The dip in the rupee value against U.S. dollar has pushed the petrol price to rise in the country.

Minimal Cut in Prices of Petrol In Mumbai

After 16 consecutive hikes in Mumbai, the prices of petrol were lowered by 7 paise per liter.

Yesterday, the oil major Indian Oil lowered the price of petrol by mere 1 paisa per liter across all the metros in India.

Today’s price of petrol in Mumbai stands at Rs 86.16 per liter. The prices of petrol vary from one state to another as it depends on local sales tax.

The petrol price in Delhi is the cheapest amongst all other metros and most state capitals.

Crude Oil is one of the most expensive items on the country’s import bill list as the country depends up to 80% of its oil requirements through imports. The weak value of rupee against US dollar has also led to the rise in the prices of fuel in the domestic market.

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