Petrol Price In Maharashtra Today

  • Today's Petrol Price ( 13 Oct 2019 )
    ₹ 78.99
    Current Petrol Price Per Litre
    Compare Petrol Price in Maharashtra (Today & Yesterday)
    Today
    (13 Oct 2019)
    Yesterday
    (12 Oct 2019)
    Rate Change
    Petrol ( / litre) ₹ 78.99 ₹ 78.99 ₹ 0 ↑
    Petrol Price in Maharashtra - Last 10 Days Data
    Date Petrol ( / litre)
    13 Oct 2019 ₹ 78.99
    12 Oct 2019 ₹ 78.99
    11 Oct 2019 ₹ 79.09
    10 Oct 2019 ₹ 79.21
    09 Oct 2019 ₹ 79.26
    08 Oct 2019 ₹ 79.26
    07 Oct 2019 ₹ 79.43
    06 Oct 2019 ₹ 79.7
    05 Oct 2019 ₹ 79.7
    04 Oct 2019 ₹ 79.99

    Petrol Rate Trend

    • 7 Days
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    • 3 Months
    • 6 Months

    Trend of Petrol Price in Maharashtra for August 2019 (rates per /litre ):

    Parameters Rates/litre
    1st August Rs.78.47
    31st August Rs.77.64
    Highest Rate in August Rs.78.47
    Lowest Rate in August Rs.77.47
    Overall Performance Decline
    Percentage Change -1.05%

    Monthly Petrol Price Trend in Maharashtra for August 2019:

    • Petrol price in Maharashtra opened the month at Rs.78.47 per litre, a 6 paise drop from the previous day’s closing price. Petrol dropped further, closing the week at Rs.77.90 per litre. The slump was primarily due to the looming global economic crisis triggered by US-China trade war.
    • After staying stable for a day, petrol rate dropped further before stabilising at Rs.77.62 per litre, recorded on 11th August as the state-run oil marketing companies decided against changing the rates. Petrol remained unchanged before dropping to Rs.77.47 on 19th August, its lowest recorded price for the month. This was primarily due to the weak demand of the oil in the local market.
    • Price of Petrol gained slightly, recording Rs.77.70 per litre on 27th August. However, state-run oil marketing companies decided to slash rates by 6 paise. Petrol closed the month at Rs.77.64 per litre. Petrol’s overall performance in Maharashtra was -1.05%.

    Monthly Petrol Price Trend in Maharashtra for July 2019 (rates per litre):

    Parameters Rates/litre
    1st July Rs.76.13
    31st July Rs.78.53
    Highest Rate in July Rs.79.07
    Lowest Rate in July Rs,76.13
    Overall Performance Incline
    Percentage Change 3.15%

    July 2019 – Week 1-5

    • Petrol in Maharashtra opened at Rs.76.13 per litre on 1 July, the lowest price recorded for the month of July. However, petrol gained from the next day onwards, recording Rs.78.62 on 7 July. The increase in petrol price as primarily due to the hike in excise duty of Re.1 per litre and imposition of road and infrastructure of Re.1 per litre as announced by the Finance Minister during Union Budget 2019.
    • After staying stable for a day, petrol prices dipped slightly in the second week amidst looming global economic slump owing to US-China trade tensions. However, petrol picked up, closing the second week of July at Rs.78.75 per litre. The hike could be attributed to Middle East tensions, thereby outweighing OPEC’s plan to extend supply cuts.
    • Petrol price in Maharashtra kept trending upwards and was recorded Rs.79.01 per litre on 22 July while international crude industry looked shaky after China reported its slowest quarterly growth in three decades. Crude gained in the international oil market by the end of the week with prices soaring high as US Navy reported of shooting down an Iranian drone, thereby escalating tensions in the Middle East. There was also reports of a significant drop in US inventories.
    • Petrol recorded its highest price for the month on 23 July at Rs.79.09 per litre amidst Middle East tensions and a speculated drop in US inventories. However, oil prices dropped soon after with petrol closing the month at Rs.78.53 per litre. This was primarily due to weak demand of oil among investors coupled with OPEC and Russia agreeing to extend supply cuts till March 2020.

    Trend of Petrol Price in Maharashtra for June 2019 (rates per litre)

    Parameters Rates/litre
    2nd June Rs.77.16 per litre
    30th June Rs.76.04 per litre
    Highest Rate in June Rs.77.16 per litre on 2 June
    Lowest Rate in June Rs.75.60 per litre from 16-23 June
    Overall Performance Decline
    Percentage Change -1.45%
    • Petrol was priced at Rs.77.16 per litre on 2 June, the highest price recorded during the month amid high crude oil prices in the market influenced by the ongoing trade war between the US and China.
    • Prices declined thereafter in the first and second week as crude oil prices declined amid supply cuts led by the OPEC and its allies to contain the rising crude prices in the market due to geopolitical tensions in the Middle East.
    • Petrol prices were at its lowest on 16 June when a litre of the fuel was sold at Rs.75.60, this price remained unchanged until 23 June as State-run oil companies decided to keep prices unchanged.
    • By the end of the month, petrol price in Maharashtra during June declined by 1.45% largely due to the drop in crude oil prices despite the tariff war between the US and China and US sanctions on Iran.

    Also Check Petrol Price in Metro Cities

    Petrol Prices in Maharashtra

    Since the execution of the Goods and Services Tax (GST), many states have accelerated the VAT, leading petrol rates to upsurge significantly. The government reduced the excise duty on petrol by Rs.2 per litre in order to bring down fuel rates.

    Maharashtra has joined Gujrat in reducing VAT imposed on fuel rates. After the announcement, the petrol rate in Mumbai was down by Rs.2 per litre. According to the latest reports, the VAT imposed on petrol in Thane, Navi Mumbai and Mumbai is 47.94%. It is 46.81% in rest of the state. The reduction in the state VAT is an additional financial burden.

    Let’s make a comparative analysis of petrol prices in Maharashtra.

    Trends in Petrol Prices in Mumbai

    September August July June
    Opening day price Rs.78.38 Rs.74.56 Rs.74.30 Rs.78.29
    Closing day price Rs.79.77 Rs.78.28 Rs.74.58 Rs.74.56
    Highest price Rs.79.77 Rs.78.28 Rs.75.04 Rs.74.49
    Lowest price Rs.78.38 Rs.74.56 Rs.73.23 Rs.74.56

    The highest petrol price in Mumbai, the capital city of Maharashtra, over the last four months was Rs.79.77 in September 2017. During the same period, the lowest price was Rs.73.23 in July 2017. Petrol rates were up by 1.74% in September 2017 and by 4.75% in August 2017. They were down by 5.27% in June 2017. All months have witnessed an increasing trend except June 2017.

    Trends in Petrol Prices in Pune in 2017

    The price of petrol on the opening day of April 2017 was Rs.72.55. The price increased to Rs.77.34 on the opening day of June 2017. Between August 2017 and July 2017, petrol prices in the city were almost consistent. On the first day of September 2017, petrol was priced at Rs.78.26. On the opening day of October 2017, the price again increased to Rs.79.75.

    Revision of Petrol Prices in Maharashtra

    All petrol bunks across the state have adopted dynamic fuel pricing system in order to revise the rate of petrol. Dynamic fuel pricing is alternatively called the daily revision. The new pricing system improves the competitiveness of the country and ensures transparent fuel pricing. With the introduction of dynamic fuel pricing, India joined Australia and the United States of America (USA).

    State retailers will reset the price of petrol every day at 06:00 a.m. in sync with the exchange rate and worldwide crude oil prices. On a wider note, the daily revision aligns the retail pricing of crude derivatives in line with price fluctuations in overseas markets. The move also fosters the capability of oil marketing companies to transmit the rates into the economy efficiently.

    Quarterly Petrol Price Trend in Maharashtra Between January and March 2019

    January February March
    Opening date price Rs.74.44/litre Rs.76.52/litre Rs.77.42/litre
    Closing date price Rs.76.76/litre Rs.77.31/litre Rs.78.41/litre
    Highest price Rs.76.94/litre recorded between 22nd and 28th Rs.77.31/litre recorded on 28th Rs.78.46/litre recorded on 24th, 25th, 26th and 27th
    Lowest Price Rs.74.13/litre recorded on 4th, 5th and 6th Rs.75.92/litre recorded on 11th, 12th and 13th Rs.77.42/litre recorded on 1st, 2nd and 3rd
    Trend Upward Upward Upward
    % Change 3.11% 1.03% 1.27%

    Quarterly Petrol Price Trend in Maharashtra Between October and December 2018

    October November December
    Opening date price Rs.91.15 a litre Rs.84.92 a litre Rs.78.17 a litre
    Closing date price Rs.85.09 a litre Rs.78.52 a litre Rs.74.44 a litre
    Highest price Rs.91.39 a litre booked on the 4 October 2018 Rs.84.92 a litre booked on the 1 November 2018 Rs.78.17 a litre booked on the 1 December 2018
    Lowest Price Rs.85.09 a litre booked on the 30 and 31 October 2018 Rs.78.52 a litre booked on the 30 November 2018 Rs.74.44 a litre booked on the 31 December 2018
    Trend Downward Downward Downward
    % Change -6.65% -7.54% -4.78%

    Petrol Price Trend in Maharashtra Between October and December 2018

    • Fuel prices in India are revised daily by State-run oil companies based on the ‘Dynamic Fuel Pricing’ mechanism which includes the 14-day average rate of the global crude oil as well as the exchange rate of the rupee over the US dollar.
    • Under this method, petrol was priced at Rs.91.15 per litre in Maharashtra, rising due to the high crude oil prices in the international market.
    • Petrol prices in Maharashtra continued to rise to touch a record high on 4 October when a litre was sold at Rs.91.39 per litre, impacted by the high global crude oil price coupled with drop in rupee’s value.
    • The Union government announced a cut in the excise duty levied on the sale of fuel in the country by Rs.1.50 per litre and asked oil companies to cut Rs.1 per litre under fuel subsidy.
    • This led to a significant fall in petrol rates in Maharashtra as petrol declined to touch Rs.85.09 per litre on 30 October – the lowest price recorded for October and dropping by 6.65% during the month.
    • On 1 November, petrol was priced at Rs.84.92 per litre – the highest price registered for the month.
    • With signs of declining geopolitical tensions between the US and China, crude oil prices declined slightly which led to the fall in petrol prices in the country.
    • Prices dropped to its lowest for the month when a litre was sold at Rs.78.52 per litre on 30 November.
    • Overall, the petrol price trend in Maharashtra during November declined by 7.54% impacted by the fall in oil prices in the global market coupled with the slight drop in US dollar’s value.
    • Petrol was priced at Rs.78.17 per litre on 1 December and it was also the highest price recorded during the month.
    • The drop-in fuel prices were attributed to the decline in crude oil prices from $80 per barrel early October to around $56 per barrel late December.
    • This brought about the significant decline in petrol prices in Maharashtra as it registered a decline of 4.78% influenced by the steep fall in oil prices coupled with the sharp fall in the US dollar’s value.

    Quarterly Petrol Price Trend in Maharashtra between July and September 2018

    July August September
    Opening date price Rs.82.94 a litre Rs.83.76 a litre Rs.86.09 a litre
    Closing date price Rs.83.79 a litre Rs.85.98 a litre Rs.90.84 a litre
    Highest price Rs.84.33 a litre recorded on the 14th Rs.85.98 a litre recorded on the 31st Rs.90.84 a litre recorded on the 30th
    Lowest Price Rs.82.94 a litre recorded on the 1st Rs.83.76 a litre recorded on the 1st Rs.86.09 a litre recorded on the 1st
    Trend Upward Upward Upward
    % Change +1.02% +2.65% +5.52%

    Petrol Price Trend in Maharashtra in July 2018

    • Petrol prices are revised every day by State-run Oil Marketing Companies (OMCs) based on the dynamic fuel pricing mechanism.
    • OMCs include the global crude oil price and the exchange rate of rupee over the U.S. dollar to arrive at the selling price of petrol in a city.
    • In Mumbai, the capital city of Maharashtra, a litre of petrol was sold at Rs.82.94 on the 1st of July, which is also the lowest price recorded during the month.
    • Petrol prices in Mumbai were kept unchanged until the 5th before increasing it by 14 paise per litre in the 6th.
    • Prices continued to rise over the course of first and second weeks and touched its highest on the 14th when a litre of petrol in Mumbai was sold at Rs.84.33.
    • The rise in petrol prices was in accordance with the incline in crude oil prices in the global market.
    • By the end of the month, prices fell by about 60 paise per litre to stand at Rs.83.79 on the 31st of the month.
    • The trend in petrol prices in the state was upward which inclined by 1.02% primarily influenced by the incline in oil prices.

    Petrol Price Trend in Maharashtra in August 2018

    • Oil companies cut petrol prices by 3 paise per litre on the 1st of August when a litre of petrol was sold at Rs.83.76 - the lowest for the month.
    • Fuel prices including that of petrol continued to rise over the course of first and second weeks in tandem with the incline in crude oil prices.
    • With the steep incline in petrol prices across the country, taxes levied were not reduced to offer some respite to consumers.
    • The upward trend was witnessed across the month and touched new record levels with relentless hikes by oil companies.
    • Despite the sharp rise in fuel prices, taxes levied on them continued to remain the same offering no respite to the common man.
    • By the end of the month, the petrol price rose to touch Rs.85.98 per litre on the 31st of the month impacted by the significant increase in the global oil price.
    • Overall, the petrol price trend was upward by 2.65% attributed to the sharp increase in oil prices in the global market.

    Petrol Price Trend in Maharashtra in September 2018

    • On the 1st of September, the petrol price in Maharashtra stood at Rs.86.09 per litre, up by 11 paise, this is also the lowest price for the month.
    • Due to geopolitical tensions between the U.S and China on trade, oil prices continued to incline over the course of first and second weeks.
    • Along with the increase in oil prices in the global market, the exchange rate of rupee over the U.S. dollar dropped sharply to touch an all-time low of 72 impacting the price of petrol in Maharashtra and other states in the country.
    • There was no respite to consumers as there were relentless hikes by oil companies except in certain states such as West Bengal, Karnataka, Rajasthan and Andhra Pradesh which announced to decrease the local sales tax or VAT on the sale of fuel.
    • In Mumbai, VAT on petrol remained the same which led fuel prices to incline steeply in the third and fourth week.
    • The highest petrol price in Maharashtra in September stood at Rs.90.84 per litre registered on the 30th of the month.
    • Petrol prices in Maharashtra during the month inclined sharply by 5.52% influenced by the rise in oil prices coupled with the dramatic fall in the Indian currency’s exchange rate.

    Quarterly Petrol Price Trend in Maharashtra between April 2018 and June 2018

    April May June
    Opening date price Rs.81.59 a litre Rs.82.48 a litre Rs.86.14 a litre
    Closing date price Rs.82.48 a litre Rs.86.20 a litre Rs.82.99 a litre
    Highest price Rs.82.52 a litre recorded on 24th Rs.86.28 a litre recorded on 29th Rs.86.14 a litre recorded on 1st
    Lowest price Rs.81.59 a litre recorded on 1st Rs.82.48 a litre recorded on 3rd Rs.82.99 a litre recorded on 30th
    Trend Upward Upward Downward
    %Change +1.09% +4.51% -3.65%

    Petrol Price Trend in Maharashtra in April 2018

    • Petrol price stood at Rs.81.59 a litre on 1st in the capital city of Maharashtra, Mumbai. In Pune, the second largest city in Maharashtra, the fuel price was lower because of Value-added Tax.
    • As on 1 April 2018, VAT was 39.95% in Mumbai, Thane and Navi Mumbai; and in rest of the state, it was 38.93%.
    • State-owned fuel companies such as Indian Oil, Hindustan Petroleum and Bharat Petroleum will take into account the currency conversion rate and the price of unrefined oil.
    • In this month, petrol price in Maharashtra was increased by 1.09% caused by an upsurge in the price of crude oil per barrel. It remained unaffected by indigenous factors. The crude oil market was sluggish since the demand for unrefined oil has fallen in global markets.
    • Petrol rates in Maharashtra were stable at Rs.81.84 a litre on 3rd and 4th, and Rs.82.48 a litre during the last week of the month.
    • The highest petrol price was registered at Rs.82.52 a litre on 24th whereas the lowest fuel price was recorded at Rs.81.59 a litre on 1st for the month.

    Petrol Price Trend in Maharashtra in May 2018

    • Petrol continued to retail at a price of Rs.82.48 a litre during the first ten days of the month under the system of dynamic fuel pricing. The same price was offered at all fuel stations owned by Indian Oil, Bharat Petroleum and Hindustan Petroleum.
    • Crude oil costs have increased by $6 per barrel and therefore, petrol rates in all parts of the country have increased significantly. In Maharashtra, fuel rates were up by 4.51% this month.
    • The impact of the exchange rate is considered since India imports unrefined oil from oil-exporting nations such as OPEC. Since there were no noticeable variations in the exchange rate of the INR against the USD, petrol prices in Maharashtra were not impacted.
    • At Indian Oil, the highest fuel price was declared at Rs.86.28 a litre. The lowest fuel price for the month was booked at Rs.82.48 a litre for the month.
    • The neighboring states of Maharashtra such as Madhya Pradesh, Gujarat and Karnataka have also increased the price of petrol in sync crude oil rates.

    Petrol Price Trend in Maharashtra in June 2018

    • The opening date price was down by 6 paise per litre. Fuel prices have steadily fallen over the first week of June 2018.
    • By the end of the second week, the fuel price in Maharashtra was reduced to Rs.84.26 a litre. By the end of the third week, fuel enterprises have further reduced the fuel price to Rs.83.95 a litre by the end of the third week.
    • Oil-marketing companies have further decreased the cost of petrol since the demand for crude oil was reasonably low. As a result, in June 2018, petrol prices were down by 3.65%.
    • Throughout the whole quarter, petrol was taxed at Rs.19.48 a litre by the Central Government whereas the tax imposed by the State Government was 39.95%.
    • In June 2018, OPEC organised a meeting. It was decided to increase the extraction of crude oil to meet the growing demand.
    • For the whole quarter, the highest fuel price stood at Rs.86.14 a litre whereas the lowest price stood at Rs.81.59 a litre.

    Before introducing dynamic fuel pricing in all Indian states, a 40-day pilot was executed in 5 cities including Chandigarh. In May 2017, the volatility of the daily revision was 0.23% whereas the volatility of fortnightly pricing was 0.8%. A lower volatility is an indication of minute variations in petrol prices in Maharashtra. Under the dynamic fuel pricing environment, the currency risk can be easily shifted to end petrol users.

    Trend in Petrol Price in Maharashtra between January 2018 and March 2018

    January February March
    Opening date price Rs.77.87 a litre Rs.80.91 a litre Rs.79.45 a litre
    Closing date price Rs.80.79 a litre Rs.79.39 a litre Rs.81.41 a litre
    Highest price Rs.80.79 a litre registered on 30 Rs.81.24 a litre registered on 6 Rs.81.41 a litre registered on 31
    Lowest price Rs.77.87 a litre registered on 1 Rs.79.38 a litre registered on 25 Rs.79.45 a litre registered on 1
    Trend Increasing Decreasing Increasing
    % Change 3.61% (Up) 1.91% (Down) 2.41% (Up)
    Petrol Price Trend in Maharashtra

    Trend in Petrol Price in Maharashtra in January 2018

    • In Mumbai, Thane and Navi Mumbai, on petrol, the Value-added Tax (VAT) is levied at 39.95% and 38.93% in other towns. So, a price difference can be observed across the state.
    • On 1, the average fuel price stood at Rs.77.87 a litre in all parts of the state at all the three government-run fuel companies.
    • Within the first 15 days, neither the excise duty nor the VAT on petrol has been changed. The OMCs expenses were also retained unaffected.
    • Therefore, a 1.50% increase in the fuel price was caused by an appreciated US dollar and a reasonable hike in the crude oil’s cost during the first half.
    • The upward trend prolonged over the subsequent weeks. The third week closed with a growth rate of 1.26% whereas the last week with an increase rate of almost 1%.
    • On 30 and 31, the highest fuel rate was recorded in Mumbai and other prime cities in Maharashtra at Rs.80.79 a litre.
    • Petrol rates were down Rs.3.61 a litre this month because of the crude oil cost, which accelerated from $62.29 a barrel to $67.06 a barrel; and the USD/INR exchange ratio, which was down 14 paise.

    Trend in Petrol Rates in Maharashtra in February 2018

    • There were no noticeable changes in the petrol price throughout the state even though the Central Government declared the Union Budget 2018-2019 on 1.
    • HPCL, BPCL and Indian Oil have declared the highest fuel price at Rs.81.24 a litre on 06 considering the changes in the cross-border influencers.
    • During the first 15 days, the USD strengthened versus the domestic currency and the Indian Crude Basket price slid to $63.63 per barrel. Therefore, petrol was offered at a price tag of Rs.80.66 a litre on 15.
    • The price offer began falling during the third and fourth weeks influenced by sluggish market conditions and a reasonable drop in the demand for unrefined oil.
    • Fuel companies made an offer of Rs.79.58 a litre on 22, Rs.79.49 a litre on 23, Rs.79.40 a litre on 24, Rs.79.38 a litre on 25 and Rs.79.39 a litre on 26 and 27. This exhibits a steady fall in the fuel prices as the USD reasonably appreciated against the local currency.
    • The lowest price for the entire month was booked on 25 at Rs.79.38 a litre, and for the entire month, the fuel price was down 1.91%.

    Trend in Petrol Price in Maharashtra in March 2018

    • Globally, the price of Brent and WTI Crude Oil has started mounting since both the forms of crude oil have accumulated a substantial amount of demand especially during the second week.
    • As on the opening date, fuel retailers have fixed a price of Rs.79.45 a litre under the daily price revision methodology. This was the lowest price for the month.
    • The price of the fuel was up 18 paise a litre on 2, 24 paise a litre on 3, 16 paise a litre on 4, 6 paise a litre on 5 and 7 paise a litre on 6 since the dollar dropped against the INR.
    • Not only in Maharashtra, but also in other Indian states, the petrol rate has been on a high this month as the oil exporting countries have not declared a production cut and even the global supplies and demands were constant.
    • Moreover, the domestic taxes were not changed by the Central Government and the State Government of Maharashtra.
    • As the fuel entities prolonged to mount the fuel rate throughout the month, on 31, the highest rate was unveiled at Rs.84.41 a litre. This was the closing date price too.
    • Ultimately, in this month, the offer of the fuel was up 2.41% caused by a noticeable rise in crude oil rates and an appreciated INR.

    Note: Indian Crude Basket is an aggregated price of WTI and Brent Crude Oil, which differ minutely. It is considered by the Government of India in order to revise the fuel prices.

    How to get the Current Petrol Rate in Maharashtra?

    The current Petrol Price in Maharashtra can be traced by the following methods:

    • Petrol users can send a text message requesting the latest rate.
    • Petrol users can dial the customer care number of oil marketing companies.
    • The easiest option is to download the mobile applications of oil marketing companies.

    How are Petrol Prices in Maharashtra Assessed?

    Oil marketing companies, refineries and dealers are the three important stakeholders of the oil and natural gas industry. Oil marketing companies will import crude oil from foreign oil marketing entities on a contractual basis. Refineries will convert crude oil into petrol. Dealers will supply petrol to end users.

    The retail selling price of petrol in Maharashtra comprises of the cost of crude oil incurred by oil marketing companies, the refinery transfer price charged by refineries, the expenses incurred by oil marketing companies, the state VAT, the central excise duty and the commission charged by dealers.

    The cost of crude oil includes freight charges as well. The commission charged by petrol dealers may not the same across the state. Other costs incurred by oil marketing companies include entry taxes, operational costs and transportation costs. The state VAT imposed on petrol in Maharashtra is the highest among all Indian states.

    Factors Affecting Petrol Prices in Maharashtra

    The factors that affect petrol prices in Maharashtra can be clubbed into two categories:

    1. domestic factors and
    2. global factors. The cost of crude oil and the currency conversion rate are the global factors impacting petrol rates. The cost of crude oil relies on the economy of oil-producing companies. If it goes up in global markets, the cost of petrol will increase.

    The USD, the currency of the United States of America, is the base currency. Crude oil is valued in the USD. The Indian currency should be converted into US dollars. If the INR gains against the USD, the cost of crude oil will marginally reduce. If the INR falls against the USD, the crude oil rate will increase. The currency exchange rate is determined by seasonal fluctuations, weather conditions, global reserves and supplies and the demand for petrol.

    Impact of GST on Petrol rices in Maharashtra

    The Goods and Services Tax (GST), a new tax, is imposed on all kinds of services and goods throughout the country. The fundamental objective of GST was to remove excessive taxation. Petrol has been exempted from the GST regime. Therefore, GST has no impact on petrol prices in Maharashtra. If GST is imposed on petrol:

    • The cost of petrol per litre in Maharashtra will fall by at least 20-30%.
    • The cost of compliance will increase by 200%.
    • The revenue source for the government will be affected.

    Also Check Petrol Price in NearBy Cities of Maharashtra

    *Disclaimer: BankBazaar makes no guarantee or warranty on the accuracy of the data provided on this page, the prevailing prices are susceptible to change and provided on an as-is basis. We accept no liability for any loss arising from the use of the data contained on this website.

    News About Petrol Price In Maharashtra

    • Petrol prices rise to Rs.80/litre, diesel Rs.70.55/litre in Mumbai

      The prices of petrol and diesel rose to Rs.80 per litre and Rs.70.55 per litre respectively in Mumbai according to the information provided by Indian Oil Corporation (IOCL).

      The previous price of petrol and diesel as on 26 September was Rs.79.85 per litre and Rs.70.44 per mitre in Mumbai.

      In other cities such as Delhi, the hike in the price of petrol was same as prices in Mumbai; that is by 15 paise. The price of petrol in Delhi increased from Rs.74.19 to Rs.74.34 per litre. The price of diesel for each litre in Delhi increased from Rs.67.14 to Rs.67.24.

      The price of petrol and diesel in Kolkata was Rs.77.03 per litre and Rs.69.66 respectively, while the price of petrol and diesel in Chennai was Rs.77.28 per litre and Rs.71.09 per litre respectively.

      27 September 2019

    • Rates of petrol, diesel expected to increase in the country

      Given the heightened geopolitical risks after Saturday’s drone strike at Saudi Arabia’s oil facilities, the rates charged for petrol and diesel in the country may see a hike. The jump in the prices may be Rs.5-6 for every $10 per barrel rise in global crude prices as per a report prepared by Kotak Institutional Equities. The increase could be effected by Oil Marketing Companies (OMCs) with a lag of a fortnight, the report warned.

      It needs to be mentioned here that in reaction to Saturday’s strike, the price of Brent crude shot up by nearly 20% to over $71 per barrel in early trade. Same was the case with the futures of US West Texas Intermediate (WTI), which were also up by 20% and touched $63.3 per barrel. Both the fuels however gave up their early gains in the evening trade.

      17 September 2019

    • Petrol prices hiked by 8 paise per litre

      State-run Oil Marketing Companies (OMCs) on Monday hiked the rates charged for a litre of petrol by 8 paise across all the major cities of the country. This was the third successive day when the prices have been hiked. In the national capital of the country i.e., New Delhi consumers were required to shell out Rs.72.07 for a litre. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai OMCs charged Rs.77.73, Rs.74.77, and Rs.74.78 respectively. It needs to be mentioned here that the rates charged for a litre of petrol is lower in Delhi than other metropolitan cities on account of lower taxes being charged.

      In the international oil market, the prices of crude oil fell on Monday. The drop saw US crude prices drop to its lowest in more than two weeks. The futures of Bren crude fell by 89 cents or 1.5% since the last close and was trading at $58.45 per barrel. It must be stated that a fear of economic slowdown has gripped the global economy due to the escalating trade war between the United States and the China.

      In India, the rates charged for fuel in the country are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar. This is because India imports 80% of the total crude requirement.

      26 August 2019

    • Petrol Gets Dearer in Major Cities of the Country

      The rates of petrol were hiked by 7-13 paise per litre in the country on Sunday. Following Sunday’s revision in the prices, every litre of petrol in the national capital got dearer by 9 paise and was retailed for Rs.73.08. In the other three metropolitan cities i.e., Kolkata, Mumbai, and Chennai the prices were increased by 8, 13, and 9 paise respectively. Following the hike, one litre of petrol was retailed for Rs.78.69, Rs.75.38, and Rs.75.89 respectively in the three metropolitan cities. In non-metropolitan cities of the country like Noida and Gurugram, a litre of petrol was sold for Rs.72.37 and Rs.72.89 respectively.

      It needs to be mentioned here that after Finance Minister Nirmala Sitharaman proposed to hike the special additional excise duty on fuel in her budget speech, the rates of fuel shot up in the country. Currently, the rates of fuel in the country are revised daily as per the dynamic pricing scheme, which was adopted by state-run OMCs in the month of June 2017. As per the mechanism, the rates are dependent on international crude oil prices on a 15-day average and the value of rupee against the US dollar.

      15 July 2019

    • Petrol Prices Kept Unchanged as of Wednesday

      Oil Marketing Companies (OMCs) on Wednesday kept the rates of petrol unchanged in the country. In the national capital of the country i.e., New Delhi every litre of petrol was retailed for Rs.71.86. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai consumers had to shell out Rs.77.47, Rs.73.92, and Rs.74.59 respectively for one litre of petrol. In non-metro cities of the country like Noida and Gurugram the rates charged for a litre of petrol were Rs.71.44 and Rs.71.96 respectively.

      In the international oil market, crude oil prices dropped on Wednesday. The futures of Brent crude were down by 26 cents from the last close to be trading at $69.85 per barrel. The rates dropped over apprehensions that the US-China trade tensions would trigger a global economic downturn. It needs to be mentioned here that the rates of fuel in the country are dependent on global oil prices on a 15-day average and the value of rupee against the US dollar. The rates depend on global oil rates because India imports 80% of its total oil requirements.

      13 June 2019

    • Fuel Prices Increased After Remaining Static Yesterday

      State-controlled Oil Marketing Companies (OMCs) increased petrol and diesel prices today across major metro cities of the country. While petrol prices were increased by 8-10 paise per litre, diesel rates went up by 15-16 paise per litre. After today’s hike, a litre of petrol in Delhi costs Rs.71.12 per litre compared to yesterday’s price of Rs.71.03 per litre, while diesel is being sold at Rs.66.11 per litre as against Rs.65.96 per litre recorded yesterday. It may be noted that prices of petrol and diesel are lower in Delhi compared to other metro cities and some state capitals due to lower taxes. The price of petrol in Kolkata is hiked by 8 paise to Rs.73.19 per litre compared to Rs.73.11 recorded yesterday, while the diesel price is increased by 15 paise compared to Sunday’s price of Rs.67.86 per litre. In Chennai, petrol is being sold at Rs.73.82 per litre, up by 10 paise compared to yesterday’s price, while diesel costs Rs.69.88 per litre, up by 16 paise over yesterday’s rate of Rs.69.72 per litre. In Mumbai, petrol costs Rs.76.73 per litre, up by 9 paise compared to yesterday’s rate, while diesel in Mumbai costs Rs.69.27 per litre, inclining by 16 paise over Sunday’s price of Rs.69.27 per litre.

      Fuel rates in India are proportional to the global crude oil price and the exchange rate of the rupee over the US dollar. Crude oil prices, in the international oil market, on Monday were up after Saudi Arabia hinted among OPEC and its allies to continue regulating oil supplies in the market. The international benchmark Brent crude oil futures were trading up by 77 cents or 1.1% to $72.98 per barrel compared to its previous close.

      21 May 2019

    • Petrol Prices cut by Rs.0.42 in the National Capital

      Oil Marketing Companies (OMCs) on Sunday cut the rates of petrol across the major cities of the country for the fourth consecutive day. The rates were reduced by Rs.0.42 in the national capital while in Mumbai the prices were cut by Rs.0.41. In Kolkata and Chennai, the rates were slashed by Rs.0.42 and Rs.0.44 respectively. Following the revision of the prices, every litre of petrol in New Delhi was retailed for Rs.71.73. In the other three metropolitan cities of the country i.e., Mumbai, Kolkata, and Chennai consumers were required to pay Rs.77.34, Rs.73.79, and Rs.74.46 respectively for one litre of petrol.

      In the international oil market, oil prices remained steady on Friday. Brent crude oil settled 0.4% higher while US West Texas Intermediate (WTI) crude futures ended 4 cents lower since its last close. Brent crude and US WTI crude were trading at $70.62 and $61.66 per barrel. It needs to be mentioned here that OMCs revise the prices of fuel in the country on a daily basis as per the dynamic pricing scheme that was adopted on 1 May 2017.

      14 May 2019

    • Every litre of petrol sold for Rs.72.86 in the national capital

      State-owned Oil Marketing Companies (OMCs) on Wednesday kept the rates of petrol in the country unchanged. In the national capital i.e., New Delhi, every litre of petrol was sold for Rs.72.86 while in Mumbai, the financial capital the rate charged for a litre of petrol was Rs.78.43. In the other two metro cities of the country i.e., Kolkata and Chennai, consumers were required to shell out Rs.74.88 and Rs.75.62 respectively. In non-metro cities of the country like Noida and Gurgaon, every litre of petrol was sold for Rs.72.74 and Rs.72.20 respectively as of Wednesday. 

      It needs to be mentioned here that the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee against the US dollar as per the country’s dynamic pricing mechanism. The price of petrol at which it is being retailed in the petrol pumps are calculated after adding the central excise duty, value added taxes (VAT), and dealers’ commission to the base price. As per mechanism, the rates are revised at 6 am everyday instead of every fortnight. 

      4 April 2019

    • Govt. instructs state-owned oil marketing companies to keep fuel prices stable

      With the general elections coming up, the government is trying its best to keep the rates of fuel in check. As per reports, the government has reportedly asked state-owned oil marketing companies like Bharat Petroleum and Indian Oil to keep the rates stable in the month of April and May. The decision has been aimed at keeping the consumer sentiment upbeat as the country heads to the polls. 

      It needs to be mentioned here that as per the media reports, the government is also planning to adjust the current pricing practice of revising fuel rates on a daily basis. 

      Recently, Oil Minister Dharmendra Pradhan in his meeting with Khalid Al-Falih, Saudi Arabia’s Minister of Energy raised his concern regarding the increase of international fuel rates. He sought his counterpart’s help in keeping the oil prices under control and stressed on the need for uninterrupted supplies of oil to the country. 

      Saudi Arabia is the second largest supplier of crude and LPG to India. The country’s crude oil imports from Saudi Arabia in 2017-18 was 36.8 million tonnes. 

      13 March 2019

    • Govt. seeks help from Saudi Arabia to bring down petrol prices

      With petrol prices rising by over Rs.2 per litre in the last one month on the back of high international rates, Oil Minister Dharmendra Pradhan has asked Saudi Arabia to play an active role in keeping down the rates. The rise in the international oil rates has come on the back of hopes that the United States and China would end the trade war.  

      The Oil Minister raised the issue of rising oil prices with the visiting Saudi Oil Minister Khalid Al-Falih. As per an official statement, Pradhan in the meeting raised concerns about the increasing trend in global crude oil prices. He pointed out the need for uninterrupted supplies of crude oil and LPG to India in view of the decision taken by OPEC to cut output. The possible adverse impact of recent geopolitical developments on the global oil market was also discussed in the meeting. 

      The rates of petrol in the national capital have increased by Rs.2.12 per litre this month to cost Rs.72.40.  

      It is noteworthy to mention that India’s crude oil imports from Saudi Arabia in 2017-18 was 36.8 million tonnes, which accounted for 16.7 per cent of its total imports. Saudi Arabia is the second largest supplier of crude and LPG to India. 

      13 March 2019

    Petrol Price In Metro Cities
    Petrol Price In Other Capitals
    Petrol Price In Other Major Cities
    Petrol Price In States

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