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Petrol Price in Mumbai (14th October 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 ₹ 78.93 (13th October 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.

Oct 13, 2019
₹ 78.93 /Ltr

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
Oct 12, 2019 ₹ 78.93 ₹ -0.10
Oct 11, 2019 ₹ 79.03 ₹ -0.12
Oct 10, 2019 ₹ 79.15 ₹ -0.05
Oct 9, 2019 ₹ 79.20 ₹ 0.00
Oct 8, 2019 ₹ 79.20 ₹ -0.17
Oct 7, 2019 ₹ 79.37 ₹ -0.13
Oct 6, 2019 ₹ 79.50 ₹ -0.15
Oct 5, 2019 ₹ 79.65 ₹ -0.28
Oct 4, 2019 ₹ 79.93 ₹ -0.18
Oct 3, 2019 ₹ 80.11 ₹ -0.10

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, October 2019
  • Petrol Price
    1st October Rs.80.21
    31st October Rs.78.93
    Highest rate in October Rs.80.21 on October 1st
    Lowest Rate in October Rs.78.93 on October 12th
    Over all performance Falling
    % Change -1.62%
  • Trend of Petrol Rate in Mumbai, September 2019
  • Trend of Petrol Rate in Mumbai, August 2019
  • Trend of Petrol Rate in Mumbai, July 2019
  • Trend of Petrol Rate in Mumbai, June 2019
  • Trend of Petrol Rate in Mumbai, May 2019
  • Trend of Petrol Rate in Mumbai, April 2019

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 Rates in Mumbai Cut Again

The petrol prices in Mumbai depreciated marginally despite soaring up in the global platform owing to yesterday’s attack on Iran’s oil ship in the Red Sea.

The petrol rates in Mumbai were reported at Rs 78.93 per litre, down by 10 paise.

In the global markets, Brent rose up by 2.39% to trade at $60.51 per barrel and West Texas Intermediate (WTI) was at $54.70 per barrel, up by 2.15%.

The unexpected attack on Iran’s Sabiti ship in the Red Sea has again fuelled regional tensions in the Middle East region which recently witnessed attacks at Saudi Arabia’s Aramco oil facility on September 14. Though Iran has blamed Saudi Arabia behind the attack. The National Iranian Tanker Company (NITC) said that the ship was damaged but was heading towards Gulf. NITC’s web site provided further information and stated that two tanks were damaged but the crew was safe.

As of now, the reports are offering diverging accounts on the attacks as it is not yet clear as to what struck the ship when it was sailing along the Red Sea, at around 96 kilometres from Saudi Arabia’s Jeddah port.

Meanwhile, the rupee value was seen trading at 71.05 per U.S. dollar during yesterday’s closing session.

12 October 2019
Petrol Rates in Mumbai Depreciates

The petrol prices in Mumbai depreciated marginally despite a rise in crude rates in the global markets amidst possible deeper cuts in OPEC’s oil supply and likely resolution of the trade war. The petrol rates in Mumbai were seen trading at Rs 79.03 per litre, down by 12 paise.

In the global markets, Brent was seen trading at $59.76 per barrel, up by 1.12% and West Texas Intermediate (WTI) was seen trading at $54.12 per barrel, up by 1.06%. The possibility of a drop in global crude supply helped its rates to surge up by over 1% during today’s trade session.

The high-level trade talks between the U.S. and China wrapped up for the first of two days with business groups on both the sides forecasting positive signs which is likely to end the 15 month-long trade tariff war. Investors eyes are all set on the trade talks which is likely to give a fresh lease of life to the feeble global economy.

The OPEC’s Secretary-General, Mohammad Barkindo announced that all options were on the table including that of a deeper cut in supply to balance the oil markets and this supported the fuel prices to march up during today’s trade session.

The optimism surrounding the ongoing trade talks between the U.S. and China helped the rupee to trade higher at 70.83 per dollar, up by 0.34% from the previous close of 71.07.

11 October 2019
Petrol Rates in Mumbai Depreciates

The petrol prices in Mumbai depreciated following global cues as trade talk hopes fade between the U.S. and China. The petrol rates in Mumbai were spotted at Rs 79.15 per litre, down by 5 paise.

In the global scenario, the crude benchmark – Brent was recorded at $58.28 per barrel, down by 0.07% and West Texas Intermediate (WTI) was at $52.55 per barrel, down by 0.08%.

The scheduled high-level trade talks between the U.S. and China which will be held in Washington on today and tomorrow is likely to see any resolution as China has downgraded its hopes to end the 15-month dispute. The U.S. President is set to hike the tariffs on Chinese goods which is worth $250 billion to 30% from 25% on October 15, if some signs of progress are not witnessed.

The OPEC members have quietly adjusted its production pact to allow Nigeria to increase its output. As of now, OPEC has granted Nigeria to raise its quota to 1.774 million barrels per day (bpd) from 1.685 million bpd.

Meanwhile, the Indian rupee opened higher by 12 paise at 70.95 per dollar as against the previous close of 71.07.

10 October 2019
Petrol Prices in Mumbai Remains Unmoved

The petrol prices in Mumbai remained unmoved despite a dip in global crude rates amidst doubts over the resolution of a trade war between the U.S. and China. The petrol rates in Mumbai were recorded at Rs 79.20 per litre.

In the international markets, the crude benchmark – Brent was seen trading at $58.04 per barrel, down by 0.34% and WTI was at $52.41 per barrel, down by 0.42%.

The U.S. - China trade tariff war has slowed down the global economy dampening crude demand to a great extent. Though officials from both the sides are all set to meet this week in Washington to resolve the issue, analysts cast doubt over it as the United States of America has imposed sanctions on Chinese officials, over detention or abuse of Muslim minority community.

The surprise rise in crude stock inventories in the U.S. by 4.1 million barrels for the week ending October 4 has also helped to cool down the fuel prices in the international platform.

Meanwhile, the rupee value slipped to a new low during today’s trade session and was seen at 74.27 against the U.S. dollar.

9 October 2019
Petrol Rates in Mumbai Depreciates

The petrol prices in Mumbai depreciated marginally despite securing in the global platform amidst rising tensions in two of the OPEC member countries which will hit the crude’s supply factor. The petrol rates in Mumbai were seen trading at Rs 79.20 per litre, down by 17 paise.

In the international markets, the crude benchmark – Brent was seen trading at $58.75 per barrel, up by 0.69% and West Texas Intermediate (WTI) was at $53.09 per barrel, up by 0.64%.

The rising tensions in Iraq due to poor economic conditions have rattled the crude output. Iraq holds the tag of second-largest OPEC producer. The protesters took to the street in Baghdad, demanding improvement of basic facilities, demanding jobs and measures to end corruption practices, the scene took an ugly turn when the security personnel opened live bullets killing many and wounding thousands.

In Ecuador, the smallest OPEC member also faced similar kind of protests from its residents to end austerity measures and this is likely to hit its crude production. The country is all set to OPEC block in January 2020, citing fiscal problems. With this, the OPEC members will come down to 13 nations from existing 14 members.

8 October 2019
Petrol Rates in Mumbai Depreciates

The petrol prices in Mumbai depreciated further despite gains in global crude prices amidst positive U.S. jobs data. The petrol rates in Mumbai stood at Rs 79.65 per litre, down by 28 paise.

In the international markets, the crude benchmark – Brent was seen trading at $58.37 per barrel, up by 1.14% and WTI was at $52.81 per barrel, up by 0.69%.

The recent series of data highlighted the plight of the slowdown of the global economy dampening the demand factor for crude. This included a fall in the manufacturing activity to more than 10 years low and a sharp dip in services industry growth to the levels which was last witnessed during 2016. But yesterday’s U.S. jobs data released by the U.S. Labour department revealed that the unemployment rate dropped to nearly 50 year low of 3.5%.

On the supply front, Saudi Arabia managed to bring back its production capacity to normalcy by September end after deadly attack at two of its units by Iran backed Houthi rebels which decreased the kingdom countries fuel production by over 50%.

Meanwhile, the rupee value fell flat to settle at 70.88 against a U.S. dollar during yesterday’s closed session after RBI trimmed down repo rate by 25 basis points.

5 October 2019
Petrol Rates in Mumbai Depreciates Marginally

The petrol prices in Mumbai depreciated despite the rise in crude rates in the global markets amidst fall in the crude demand outlook. The petrol rates in Mumbai were seen trading at Rs 79.93 per litre, down by 18 paise.

In the global platform, the crude benchmark – Brent was seen trading at $57.93 per barrel, up by 0.38% and WTI was at $52.64 per barrel, up by 0.36%.

Weak U.S. services sector and jobs growth data has dented the demand factor for fuel in the international markets and has added fears that the yet to be resolved trade tariff war between the U.S. and China is likely to push the global economy into a recession.

Both the countries are all set to meet this month in Washington to resolve the issue which is on for more than one and a half year from now.

Meanwhile, Saudi Arabia’s Energy Minister – Prince Abdulaziz bin Salman said that the kingdom country has been successful in restoring its lost production capacity post attacks on two of its Saudi Aramco’s oil facilities which wiped out more than 5% of the global crude supply.

The Indian domestic rupee gained by 10 paise against the U.S. dollar to settle at 70.79, amidst anticipated repo rate cut by RBI by 25 basis points.

4 October 2019
Petrol Rates in Mumbai Depreciates

The petrol prices in Mumbai depreciated following global cues amidst weak demand outlook for fuel and a surprise rise in U.S. crude inventories. The petrol rates in Mumbai were recorded at Rs 80.11 per litre, down by 10 paise.

In the international markets, the crude benchmark – Brent was seen trading at $57.46 per barrel, down by 0.40% and West Texas Intermediate (WTI) was at $52.55 per barrel, down by 0.17%.

The year-long tit for a tat trade dispute between the U.S. and China has led to the economic slow down across the globe and yesterday’s fall of the world equity benchmark to settle at its lowest level is the evidence which shows the signs of slow down of U.S. global growth. Added to this, the fragile earnings report of Europe has fanned further fears that the trade war is likely to push the global economy into recession.

The higher than expected rise in U.S. Crude inventories has helped to reduce the prices of fuel in the overseas markets. The Energy Information Administration released a report yesterday and announced that the crude inventories touched 3.1 million barrels last week as against the estimated analyst’s expectations of 1.6 million barrels.

Meanwhile, the rupee value slipped by 28 paise to touch 71.35 against the dollar due to unabated foreign fund outflows.

3 October 2019
Petrol Prices in Mumbai Inches Up

The petrol rates in Mumbai inched up again following trends in the global markets amidst weak output by OPEC members. The petrol prices in Mumbai stood at Rs 80.21 per litre, up by 13 paise.

In the overseas markets, Brent gained marginally by 0.49% to touch $59.54 per barrel, and West Texas Intermediate (WTI) was at $54.35 per barrel, up by 0.52%.

The OPEC members decision to trim down an additional supply of 1.2 million barrels per day (bpd) of crude since January 2019 has weighed on its prices in the global markets amidst tightness in the oil industry. The agreement will run until March 2020 as a measure to support fuel prices.

As per the survey report conducted by Reuters, the OPEC’s crude output has sunk to its lowest level to touch 28.9 million bpd of crude during September, its lowest since 2011. The September’s crude output numbers by OPEC is a fall from the August’s number by 750,000 bpd.

The U.S. sanctions on Iran and Venezuela is still on and OPEC is currently facing a tough situation to meet the growing demands of the global market. The report further states that two of the three exempt producers also pumped less crude than the previous month’s record.

Meanwhile, the rupee value inched down by 31 paise to trade at 70.87 against the U.S. dollar during today’s trade session. The depreciation of the rupee added with the rise in crude prices led to the hike in petrol prices in Mumbai.

1 October 2019
Petrol Prices in Mumbai Gains 8 Paise Per Litre

The petrol prices in Mumbai inched up despite depreciation of global crude rates amidst a surge in Chinese production data for the second straight month in a row. The petrol rates in Mumbai were seen trading at Rs 80.08 per litre, up by 8 paise.

In the overseas markets, Brent was seen trading at $60.99 per barrel, down by 0.08% and West Texas Intermediate (WTI) was at $55.85 per barrel, down by 0.11%.

The fall in the production data in Chinese over the last few months had dampened the demand for crude in the global markets. But the recent data from the Caixin/Markit Manufacturing Purchasing Managers Index (PMI), reveals that the production has expanded in China for the second straight month owing to new orders, beating market expectations.

The likely improvement in the demand factor for oil has cooled off its prices in the international markets.

Amidst ongoing political tensions in the Middle East region, the Saudi Arabia’s crown prince has warned the crude prices could spike to ‘unimaginably high numbers’ if all the nations do not come together to daunt Iran which claims to have carried out the recent attack at the oil majors two units.

Meanwhile, the rupee value surged up against the dollar to touch 70.42, two months high owing to upbeat investor sentiment.

30 September 2019

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