Petrol Price In Mumbai Today

Last 7 days Petrol Price in Mumbai

Date Petrol Price(Rs/Lt) Price Change
Feb 19th 2020 77.52 0
Feb 18th 2020 77.52 -0.05
Feb 17th 2020 77.57 0
Feb 16th 2020 77.57 0
Feb 15th 2020 77.57 0
Feb 14th 2020 77.57 0
Feb 13th 2020 77.57 0
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  • Today's Petrol Price ( 19 Feb 2020 )
    ₹ 77.52
    Current Petrol Price Per Litre
    Compare Petrol Price in Mumbai (Today & Yesterday)
    Today
    (19 Feb 2020)
    Yesterday
    (18 Feb 2020)
    Rate Change
    Petrol ( / litre) ₹ 77.52 ₹ 77.52 ₹ 0 ↑
    Petrol Price in Mumbai - Last 10 Days Data
    Date Petrol ( / litre)
    19 Feb 2020 ₹ 77.52
    18 Feb 2020 ₹ 77.52
    17 Feb 2020 ₹ 77.57
    16 Feb 2020 ₹ 77.57
    15 Feb 2020 ₹ 77.57
    14 Feb 2020 ₹ 77.57
    13 Feb 2020 ₹ 77.57
    12 Feb 2020 ₹ 77.57
    11 Feb 2020 ₹ 77.57
    10 Feb 2020 ₹ 77.72

    Petrol Rate Trend

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    • 6 Months

    Petrol Rate in Mumbai:

    Mumbai is the capital city of Maharashtra. It is also the business and commercial capital of India. The city has a huge demand for petrol with the highest number of working individuals.

    Trend of Petrol Price in Mumbai for February 2020 (Rates per litre)

    Parameters Rates/litre
    Parameters Rates/litre
    1st February Rs.78.80
    7th February Rs.78.30
    Highest Rate in February Rs.78.80
    Lowest Rate in February Rs.78.30
    Overall Performance Decline
    Percentage Change -0.63%

    February – Week 1 (1 - 7):

    • Petrol price in Mumbai stood at Rs.78.80 per litre on the 1st of February, unchanged from its previous day’s closing price. In the international oil market, there’s been a squeeze on oil demand owing to China’s fast spreading coronavirus.
    • The state-run oil marketing companies decided to cut petrol rates further. Petrol closed the week at Rs.78.30 per litre.
    • The overall performance of petrol in Mumbai was -0.63%, trending downwards.

    Trend of Petrol Price in Mumbai for January 2020 (Rates per litre)

    Parameters Rates/litre
    Parameters Rates/litre
    1st January Rs.80.77
    31st January Rs.78.94
    Highest Rate in January Rs.81.65
    Lowest Rate in January Rs.78.94
    Overall Performance Decline
    Percentage Change -2.26%

    January – Week 1 (1 - 7):

    • The petrol price in Mumbai opened at the rate of Rs.80.77 per litre on the 1st of January 2020. The same rate was prevalent on the 31st of December 2019. The prices have constantly increased for a week after that.
    • In the light of the war-like situation in the Middle East, the threats from the United States of America to impose curbs on Iraq lead to a hike of more than 2% was witnessed in the Brent crude prices in the international market.
    • On the 7th of January 2020, the week came to a close with the price of petrol standing at the rate of Rs.81.49 per litre. This was also the highest recorded rate of the fuel for the week. The lowest recorded rate was on the 1st day of the week. There was overall increase of 0.89% in the performance of the fuel in Mumbai.

    January – Week 2 (8-14):

    • Petrol price opened the second week of January at Rs.81.39 per litre in Mumbai. The rates charged for a litre in the financial capital of the country dropped by 10 paise when compared to the previous week’s closing price.
    • Due to the turmoil in global oil markets as a result of the standoff between the United States and Iran, petrol price soared in the next few days and touched Rs.81.65 per litre on 11 January. This was the highest recorded price for the month till date in the metropolitan city.
    • As the tensions between both the countries started to ease, petrol prices in Mumbai started to slip and closed the week at Rs.81.34 per litre. The overall performance of the fuel over the first two weeks was 0.70%, trending upwards.

    January – Week 3 (15-21):

    • In Mumbai, petrol opened the third week of January at Rs.81.34 per litre. The rates charged for a litre of the fuel remained unchanged in the commercial capital when compared to the previous week’s closing price.
    • Given that the rates of international crude oil softened after two months of relentless rate hikes, petrol prices in the metropolitan city slipped over the week.
    • Petrol rate closed the week at Rs.80.47 per litre in Mumbai. This was the lowest recorded price of petrol for the month till date. The overall performance of petrol in Mumbai was -0.37%, trending downwards.

    January – Week 4 (22-28):

    • Petrol price in Mumbai stood at Rs.80.47 per litre on the 22nd of January, unchanged from its previous day’s closing price. Prices fluctuated in the international market owing to coronavirus and its effect on the Chinese economy.
    • On India’s Republic Day, petrol stood at Rs.79.52 per litre, thereby marking a substantial drop in its prices.
    • Petrol rate closed the week at Rs.79.27 per litre, its lowest recorded price in the month of January. The overall performance of petrol in Mumbai was -1.85%, trending downwards.

    January – Week 5 (29-31):

    • Petrol price in Mumbai stood at Rs.79.27 per litre on the 29th of January, unchanged from its previous day’s closing price. Prices fluctuated in the international market owing to coronavirus and its effect on the Chinese economy.
    • Petrol closed the month at Rs.78.94 per litre, its lowest recorded price for the month of January.
    • The overall performance of petrol in Mumbai was -2.26%, trending downwards.

    Trend of Petrol Price in Mumbai for December 2019 (Rates per litre)

    Parameters Rates/litre
    Parameters Rates/litre
    1st December Rs.80.58
    29th December Rs.80.51
    Highest Rate in December Rs.80.63
    Lowest Rate in December Rs.80.27
    Overall Performance Decline
    Percentage Change -0.08%

    December – Week 1 (1 – 7)

    • Petrol price in Mumbai stood at Rs.80.58 per litre on the 1st of December, 12 paise higher than the previous day’s closing price.
    • Petrol remained stable for the next few days at Rs.80.58 per litre.
    • Prices dipped on the 7th of December, with petrol closing at Rs.80.49 per litre, a 9 paise drop from the previous day’s closing price. Overall performance of petrol in Mumbai was -0.11%, trending downwards.

    December – Week 2 (8--14)

    • Petrol price in Mumbai stood at Rs.80.58 per litre on the 8th of December, 9 paise higher than its previous day’s closing price.
    • Prices improved on the next day with growing demand for the oil. Petrol stood at Rs.80.63 per litre, its highest recorded price in the month of December.
    • However, staying stable for a couple of days, petrol prices dipped with petrol closing the week at Rs.80.48 per litre. Overall performance of petrol in Mumbai was -0.12%, trending downwards.

    December – Week 3 (15 - 21)

    • Petrol price in mumbai started the third week of December at Rs.80.38 per litre in Mumbai. The rates of the fuel witnessed a drop of 10 paise for every litre when compared to the previous week’s closing price.
    • The rates of petrol in the commercial capital slipped to Rs.80.28 per litre on 17 December due to weak demand.
    • After staying constant for a day, the rates dropped slightly again before closing the week at Rs.80.27 per litre in Mumbai. The closing price was also the lowest recorded price for the fuel in the month till date. Petrol overall performance in the metropolitan city was -0.38%, trending downwards.

    December – Week 4 (22 - 29)

    • Petrol price stood at Rs.80.27 per litre on 22 December in Mumbai. The rates charged for a litre in the commercial capital was the same as the previous week’s closing price.
    • With Oil Marketing Companies (OMCs) hoping that a trade deal between the United States and China will be signed soon, the rates remained stagnant for the next few days.
    • Due to the efforts of OPEC to cut supply and hopes of a breakthrough in the trade talks between Washington and Beijing, the rates climbed from 27 December. Petrol closed the fourth week of December at Rs.80.51 per litre in Mumbai with the overall performance being -0.08%.

    Trend of Petrol Price in Mumbai for November 2019 (rates per litre)

    Parameters Rates/litre
    Parameters Rates/litre
    1st November Rs.78.48
    30th November Rs.80.46
    Highest Rate in November Rs.80.46
    Lowest Rate in November Rs.78.22
    Overall Performance Incline
    Percentage Change 2.52%

    November – Week 1 (1 – 7)

    • The price of petrol in Delhi opened at Rs.72.86 per litre on 1st November. The price of the fuel was Rs.72.98 at the end of 31st October. There was a dip of 12 paise per litre when compared to the previous day’s rate.
    • The price of Brent crude oil in the international market traded at $55.94 which is 26 cents lesser than the last closing rate. The Washington-Beijing trade war has affected the demand for energy. The crude oil prices were eased as a whole due to the upcoming European and US economic data.
    • At the end of the first week, the price of petrol in Delhi stood at Rs.72.60. So far, this is the lowest price of petrol for the month of November. The overall dip in performance of petrol is -0.36%.

    November – Week 2 (8 – 14)

    • Petrol price in Mumbai stood at Rs.78.32 per litre on the 8th of November, recording a 10 paise hike than the previous day’s closing price. Earlier, during the first week of November, petrol was in declining mode. However, the trend changed this week.
    • Petrol rose further in the following days, closing the week at Rs.79.06 per litre, its highest recorded price for the month of November till now.
    • The overall performance of petrol in Mumbai was 0.73%, trending upwards. Meanwhile, in the international oil market, fuel prices improved as data showed signs of improvement in US and China economies.

    November – Week 3 (15 – 21)

    • Petrol price in Mumbai opened third week of November at Rs.79.24 per litre. Compared to the previous day rates, the prices increased by 18 paise per litre in the metropolitan city.
    • The rates of petrol increased further in the next few days and touched the highest for the month on 19 November. Every litre of petrol cost Rs.79.80 on that day and stayed there till the end of the week.
    • The overall performance of petrol in Mumbai was 1.17%, trending upwards. This was accounted to fuel prices in the international oil market rallying due to improvement in the economy of the United States and China.

    November – Week 4(22 – 30):

    • Petrol price in Mumbai opened the fourth week at Rs.79.95 per litre. There was a hike of 15 paise from the rates charged on the previous day.
    • The price of the fuel continued to increase in the following days of the week as well given that fuel prices in the international oil market improved as there was improvement in the economies of US and China.
    • The rates closed the month at Rs.80.46 per litre. This was the highest recorded price of petrol for the month of November in Mumbai. Petrol’s overall performance was 2.52%, trending upwards.

    Trend of Petrol Price in Mumbai for October 2019 (rates per litre)

    Parameters Rates/litre
    1st October Rs.80.27
    31st October Rs.78.59
    Highest Rate in October Rs.80.27
    Lowest Rate in October Rs.78.59
    Overall Performance Decline
    Percentage Change -2.09%

    October - Week 1 (1-7):

    • In Mumbai, petrol price opened the month of October at Rs.80.27 per litre. The rates increased by 22 paise per litre compared to the previous day. It was the highest recorded price for the opening week of the month.
    • With the prices of crude oil cooling down and reversing all gains, the rates of petrol dropped considerably over the week after staying constant for the next day. A litre of petrol in the commercial capital cost Rs.79.99 per litre on October 4.
    • The Petrol price in Mumbai closed the first week of the month at Rs.79.43 per litre after crude oil prices recorded its second consecutive weekly decline. The overall performance of the fuel in Mumbai was -1.04%.

    October - Week 2 (8 – 14):

    • Petrol price in Mumbai opened at Rs.79.26 per litre on the 8th of October. The rates were down by 17 paise since the previous day’s closing price.
    • With crude prices fluctuating in the international oil market, the rates of petrol in the commercial capital continued to fall over the week. The drop in the prices meant that petrol recorded its lowest for the month so far on 12 October.
    • Renewed geopolitical tensions in the Middle East and OPEC indicating deeper cuts in supply meant that petrol prices in Mumbai closed the second week of October at Rs.78.99 per litre. The overall performance of the fuel in the metropolitan city was -1.62%, trending downwards.

    October - Week 3 (15 – 21):

    • In Mumbai petrol price opened the third week of October at Rs.78.94 per litre. The rates witnessed a fall of 5 paise per litre when compared to the previous day’s rates.
    • The Petrol price in Mumbai of petrol remained constant throughout the week in the commercial capital even though crude oil prices fluctuated over the week due to concerns regarding the demand for fuel across the world.
    • Petrol closed the week at Rs.78.94 per litre which was also the lowest recorded price for the month so far. The overall performance of petrol in Mumbai was -1.65%, trending downwards.

    October - Week 4 (22 – 28):

    • Petrol price in Mumbai opened at Rs.78.89 per litre on 22nd of October. It witnessed a dip of 5 paise per litre when compared to the rates of the fuel on the 21st of October.
    • In the international market, the rate of crude oil went down. However, the Brent oil continued to be traded at over $60 per barrel.
    • At the end of the fourth week, the price of petrol was closed at Rs.78.65 per litre in Mumbai. This is the lowest rate of the fuel which has been recorded in the month of October. The overall performance of the fuel dropped by -2.02%.

    October - Week 5 (29-31):

    • Petrol price in Mumbai opened at Rs.78.59 per litre on the 29th of October, dropping 6 paise from the previous day’s closing price. In the international oil market, prices remained stagnant despite Russia promising to pledge a deal with OPEC to keep a check on production and support prices.
    • Petrol price was recorded at Rs.78.59 on the 31st of October, unchanged from its previous day’s closing price. Meanwhile, in the international oil market, crude prices dipped after an unprecedented rise in US inventories.
    • In the month of October, petrol saw a steady decline in its prices. The overall performance of petrol price in Mumbai was -2.09%, trending downwards.

    Trend of Petrol Price in Mumbai for September 2019 (rates per litre)

    Parameters Rates/litre
    1st September Rs.77.64
    30th September Rs.80.05
    Highest Rate in September Rs.80.05
    Lowest Rate in September Rs.77.37
    Overall Performance Incline
    Percentage Change 3.10%

    September - Week 1 (1-7):

    • Petrol prices in Mumbai opened at Rs.77.64 per litre. The rates were unchanged from the previous day’s closing price.
    • In Mumbai, Petrol prices remained constant for the next few days in the city as the demand for oil was low in the local market. Crude oil prices, however, were on the rise after United States confirmed that talks will be held with China in the upcoming months.
    • Petrol prices dropped considerably towards the end of the first week and closed at Rs.77.43 per litre. Petrol’s overall performance in the first week was -0.27%.

    September - Week 2 (8-14):

    • Petrol price in Mumbai opened at Rs.77.37 per litre in Mumbai on the 8th of August—6 paise lower than the previous day’s closing price. Meanwhile, in the international oil industry, crude futures dropped after participants reduced positions due to a weak trend in global markets.
    • After staying stable for a day, price of petrol rose again on 11 September, recording Rs.77.42 per litre. The 5 paise hike was primarily due to a sharp drop in US inventories.
    • Petrol rate in Mumbai closed the week at Rs.77.63 per litre. Overall performance of petrol in Mumbai was -0.01%, trending upwards.

    September - Week 3 (15-21):

    • Petrol price in Mumbai opened at Rs.77.69 per litre—6 paise higher than the previous day’s closing price on the 15th of September.
    • After staying stable for a day, petrol prices soared, recording Rs.78.07 per litre on 18 September. Meanwhile, in the international market prices slid after Saudi Arabia’s energy minister stated the kingdom will restore lost oil production by the end of the month.
    • Price of petrol in India closed the week at Rs.78.99 per litre, its highest recorded price in the month of September. The substantial increase in petrol prices was primarily due to last week’s drone attack on Saudi Arabia’s Aramco oil refinery. The overall performance of petrol was 1.73%, trending upwards.

    September - Week 4 (22-30):

    • In the commercial capital of the country i.e., Mumbai petrol prices opened the fourth week of September at Rs.79.26. Compared to the previous day’s prices, the rates witnessed an increase of 27 paise.
    • Petrol price in Mumbai continued to increase in the metropolitan city over the week due to geopolitical tensions. The rates climbed to Rs.79.97 per litre on 27 September before remaining constant for the next three days. The increase in the prices was accounted to the drone attack on Saudi Arabia’s oil facilities.
    • The rates closed the month at Rs.80.05 per litre. This was the highest recorded price of petrol for the month in the financial capital. The overall performance of petrol for the month was 3.10%.

    Trend of Petrol Price in Mumbai 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%

    August 2019 – Week 1 (1-7):

    • Petrol price in Mumbai opened at Rs.78.47 per litre on 1 August, 6 paise lower than the previous day’s closing price. In the international crude oil market, crude prices dropped after the US Federal Reserve squashed the chances of possible rate cuts. However, the diesel prices remained stable without undergoing any price change.
    • Petrol slumped further, recording Rs.78.31 per litre on 2 August, marking a drop of 16 paise per litre. Prices dropped further, trending at Rs.77.99 per litre on 5 August. Meanwhile, in the international oil market, crude prices fell amid worries over weaker demand after the Trump administration said it would impose tariffs on more Chinese imports.
    • Mumbai Petrol price closed the week at Rs.77.90, its lowest recorded price till now in the month of August. The overall decline in petrol price recorded in the first week of August is -0.72%. In the international oil market, crude price dropped owing to US-China trade tensions. With Trump announcing to impose more tariffs on Chinese imports, crude prices could drop further in the coming days. However, amidst US-China trade war, state-run oil marketing companies decided not to change the diesel rates, which stayed stable for the entire week of August.

    August 2019 – Week 2 (8-14):

    • Petrol price in Mumbai opened at Rs.78.47 per litre on the second week of August—6 paise lower than the previous day’s closing price.
    • Petrol dipped further by 16 paise on the next day, standing at Rs.78.31 per litre. The dip was primarily due to the ongoing US-China trade tension with Trump administration deciding to impose more tariffs on Chinese imports.
    • Petrol price in Mumbai slumped slightly more in the next few days before stabilising at Rs.77.62 per litre. Meanwhile, in the international oil market, crude prices dropped due to possible supply cuts amidst looming global economic crisis.

    August 2019 – Week 3 (15-21):

    • Petrol in Mumbai opened at Rs.77.62 per litre, unchanged from previous day’s closing rate.
    • Prices remained unchanged before dropping to Rs.77.54 per litre on 18 August—recording an 8 paise slump.
    • Petrol dropped further on the next day and remained unchanged till the end of the week at Rs.77.47 per litre—its lowest recorded price in August. The slump was primarily due to weak demand of the oil in the local market. Meanwhile, in the international crude market, oil prices went up due to slump in US inventories.

    August 2019 – Week 4 (22-31):

    • Petrol price in Mumbai opened at Rs.77.47 per litre on 22nd August, unchanged from previous day’s closing price. After staying stagnant for the next few days, petrol prices went up marginally, recording Rs.77.70 per litre. In the international oil market, crude gained after US inventories recorded a substantial slump.
    • Petrol rates were slashed by 6 paise on the next day, recording Rs.77.64 per litre. Petrol remained unchanged till the end of the week.
    • Overall, petrol’s performance in Mumbai was -1.05%, trending downwards. In the international oil market, crude slumped after concerns about the strength of US economy.

    Trend of Petrol Price in Mumbai for July 2019 (rates per litre):

    Parameters Rates/litre
    1st July Rs.76.13
    28th July Rs.78.81
    Highest Rate in July Rs.79.07
    Lowest Rate in July Rs.76.13
    Overall Performance Incline
    Percentage Change 3.52%

    July 2019 – Week 1 (1-7):

    • Petrol price in Mumbai was priced at Rs.76.13 per litre on 1 July, the lowest price recorded during the week marked by the marginal decrease in crude oil prices in the international market owing to production cuts led by the OPEC and its allies.
    • On 2 July, state-run Oil Marketing Companies (OMCs) hiked the petrol price in Mumbai by 7 paise per litre to be sold at Rs.76.20 per litre and remained unchanged until 6 July.
    • Mumbai Petrol Price during this week rose to touch a weekly high of Rs.78.62 per litre on 7 July due to the hike in excise duty by Re.1 per litre, and road and infrastructure cess of Re.1 per litre which led to an incline of 3.27% during the week.

    July 2019 – Week 2 (8-14):

    • Petrol was priced at Rs.78.62 per litre on 8 July, this was including the additional excise duty hike announced by the Central Government in the 2019 Finance Budget of Rs.2 per litre to mop up revenue for social welfare schemes.
    • State-run Oil Marketing Companies decreased petrol prices in Mumbai on 9 July when a litre of the fuel was sold at Rs.78.57 after crude prices declined amid concerns of a decline in demand after the recent indications that tariff war between the US and China dragged the global economy.
    • On 14 July, prices rose to its weekly high of Rs.78.75 per litre, inclining by 0.17% during the week attributed by slight increase in crude prices due to tensions in the Middle East despite the ongoing production cuts led by the OPEC.

    July 2019 – Week 3 (15-21):

    • When the week began, petrol in Mumbai was priced at Rs.78.87 per litre – the lowest price recorded during the week; however, it had inclined over the previous day amid rise in crude oil prices attributed by concerns over the slowdown of the Chinese economy indicating a possible decline in demand.
    • Prices continued to rise over the week as crude oil prices rose amid increasing prices of crude oil in the oil market influenced by tensions in the Middle East.
    • By the end of the week, petrol prices in Mumbai rose significantly attributed by the rise in crude oil prices after the US shot down a drone of Iran escalating tensions in the Middle East despite the ongoing supply cuts led by the OPEC and its allies to keep prices stable.

    July 2019 – Week 4 (22-28):

    • Petrol in Mumbai opened at Rs.79.01, unchanged from the previous day’s closing price. However, in the international crude oil industry, prices dropped following International Energy Agency (IEA) statement that it would act quickly if required to keep the market afloat amid hostilities in the Middle East.
    • Prices improved marginally on the next day, recording at Rs.79.07 per litre, the highest in the month. The slight hike could be attributed to the huge fall in US inventories. Meanwhile, the US Navy claimed to have shot down another Iranian drone, which further affected global oil prices.
    • Petrol prices started falling soon after, closing the week at Rs. 78.81 per litre. Weak demand coupled with Russia and OPEC agreeing to extend oil supply cuts are the obvious reasons for this petrol price drop. Also, as per IEA (International Energy Agency), it’s unlikely that crude prices will go up considerably in the next few days owing to weak demand and a glut in the crude market.

    Also Check Petrol Price in Metro Cities

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

    Parameters Rates /litre
    2nd June Rs.77.16 per litre
    30th June Rs.76.13 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 -1.34%

    June 2019 – Week 1 (2-8):

    • Petrol opened the week at Rs.77.16 per litre, a slight incline compared to the previous day’s price influenced by a fall in crude oil prices in the global oil market.
    • Over the week, petrol prices slumped with the lowest price of the week recorded at Rs.76.60 per litre on 7 June, also the lowest price for the month.
    • The fall in prices comes amid the stabilisation of crude oil prices as Brent crude futures, the international benchmark, fell by 22 cents or 0.4% after declining sharply by 10% in the last four days.

    June 2019 – Week 2 (9-15):

    • The week opened with petrol being retailed at Rs.76.60 per litre, no revision compared to the previous day’s rate.
    • State-run Oil Marketing Companies (OMCs) cut the petrol price by 50 paise on 10 June passing on the benefits to customers as crude oil prices were down in the last week.
    • Petrol prices continued to fall over the week to touch a weekly low of Rs.75.66 a litre on 15 June influenced by concerns of investors of a trade war between the US and China and output cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and its allies.

    June 2019 – Week 3 (16-23):

    • On 16 June, petrol was retailed at Rs.75.60 per litre even as OMCs reduced petrol prices by 6 paise a litre against the previous day’s rate.
    • Petrol prices in Mumbai declined sharply impacted by the decline in crude oil prices on indications that global economic growth slowing down influenced by the US-China tariff war.
    • Oil firms decided to keep petrol prices unchanged for the rest of the week despite the rise in crude prices amid tensions in the Middle East after Iran shot down a military drone of the US, and on expectations for a cut in US interest rate that may spruce up the global growth.

    June 2019 – Week 4 (24-30):

    • During the last week of June, petrol opened at Rs.75.72 per litre, rising by 12 paise over the previous day’s rate and remained unchanged until 26 June.
    • Oil companies continued to revise the petrol price daily until the end of the week to touch Rs.76.13 per litre on 30 June, a weekly high.
    • In the international oil market, crude oil rates fell as traders awaited the outcome of the G20 summit as well as meeting of the OPEC and its allies to take a decision on the possible extension of the output cuts in the global oil market.

    How are Petrol Prices in Mumbai Updated?

    India joins the United States of America (USA) and Australia with the introduction of the daily fuel price revision on 16th June 2017. Every petrol station owned by the country’s premier oil corporations such as Indian Oil, Shell Oil, Hindustan Petroleum, and Bharat Petroleum in Mumbai will update diesel and petrol rates at 06:00 a.m. every day.

    The daily revision, which is also called as dynamic fuel pricing, replaces the earlier fortnightly-based fuel price revision. As per the new system, fuels are priced in consideration with overseas crude oil rates and the exchange ratio between the USD, the base currency and the INR, the local currency. Consumers will now remit market-determined prices irrespective of ups or downs.

    Fuel consumers in Mumbai can track the recent updates on petrol through an SMS service or a customer care service offered by state-owned oil entities including Bharat Petroleum (BP), Hindustan Petroleum (HP), Indian Oil, and Shell Oil. They can also check online by visiting the website of any of these oil companies.

    How are Petrol Prices in Mumbai Assessed?

    The final price, which is paid by consumers for petrol, is called as the retail selling price (RSP) of the commodity. How is the RSP computed? The calculation of the RSP is simple. We add the cost of crude oil including freight charges, the refinery transfer price (RTP), the commission charged by dealers, the VAT levied by the state government, and the central government’s excise duty to arrive at the retail selling price of petrol in Mumbai.

    The cost of crude oil is the cost incurred by oil marketing companies (OMCs). Oil is always traded in terms of the USD. Currently, a barrel of crude oil, which is equal to 159 litres, costs $50. The cost of a litre of oil is added in the price breakup of petrol. OMCs also incur the refinery cost. The commission charged by dealers may change within the city.

    The state VAT and the excise duty are the two tax components in the price structure of petrol. Both are subject to vary. Currently, petrol is taxed at 47.64% by the government of Maharashtra. The excise duty currently is Rs.19.48 per litre. The dealer’s commission is Rs.2.58 per litre in Mumbai.

    Factors Influencing Petrol Rates in Mumbai:

    The factors that influence Mumbai petrol prices are many in number. Let’s consider the most important influencers, which include the buying cost of unrefined oil, global political events, the demand and supply pattern, fluctuations in seasons and the currency conversion rate, the tax charged by the state, the tax charged by the central, and developments in oil-producing nations.

    In general, the Selling Price Petrol will go up when:

    • The purchasing price of raw oil gains.
    • The Indian currency falls against the base currency.
    • The central and state governments hike the tax levied on petrol.

    Similarly, Petrol Rate will come down when:

    • The purchasing price of raw oil diminishes.
    • The Indian currency gains against the USD (the base currency).
    • The central and state governments dampen the tax levied on petrol.

    The purchasing cost of unrefined oil is impacted by seasonal conditions, the refinery capabilities, overseas political moves, the demand for petrol by leading economies, overseas supplies and reserves, and weather conditions.

    GST vs. Petrol Prices in Mumbai

    Goods and Services Tax (GST) is a multi-phase, location-based, all-inclusive tax that shall be imposed on each value addition. It is a complete indirect tax platform that was introduced in July 2017. GST has been imposed on all goods and services except petroleum products.

    Also Know: Petrol Price Trend In Mumbai

    The Oil Minister has recently tweeted that the inclusion of petroleum derivatives is the only recipe for balanced fuel rates. If GST is imposed on petroleum products, fuel prices will be cheaper. If GST is to be levied on petrol, all the tax components in the current price structure should be compensated by the GST rate.

    The entire oil and natural gas industry does not fall under the scope of the present GST system. The implementation of GST in the industry will result in double compliance expenses as all the industry stakeholders have to adhere to the current tax structure and the GST tax slab as well. Since petrol is not taxed under the GST framework, petrol prices in Mumbai remain unaffected.

    Diesel Cost vs. Petrol Costs in Mumbai:

    The current price of diesel, which is as on 10th October 2017, is Rs.60.51 per litre while the current rate of petrol is Rs.77.54. Before reducing the excise duty, the cost of petrol in Mumbai was Rs.79.92 whereas the cost of diesel was Rs.62.76. The net difference between the cost of diesel and petrol has fallen to Rs.17.03 from Rs.17.16 after reducing the excise duty.

    Petrol Prices in Mumbai and other Prime Cities:

    As on the latest date, a litre of petrol costs Rs.70.89 while a litre of diesel Rs.59.97 in Chennai. The current rate of diesel in New Delhi is Rs.56.97 whereas the cost of petrol is Rs.68.42. In Kolkata, petrol is priced at Rs.71.19 while diesel is priced at Rs.59.62. A litre of petrol in Bangalore costs Rs.69.48 while a litre of diesel Rs.57.04. Needless to say, fuel prices in Mumbai are comparatively more.

    Also Check Petrol Price in NearBy Cities of Mumbai

    *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.

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    News about Petrol Price In Mumbai

    • Prices of petrol remained unchanged on 15 February 2020

      Oil marketing companies that are state-run did not make any changes to the prices of petrol across the major cities in India on 15 February 2020. Since 11 February 2020, there have been no changes made to the prices of petrol.

      According to the details available on the official website of Indian Oil Corporation, the price of petrol in Delhi remained the same as 14 February 2020 and is selling at Rs.71.94 for a litre. However, the price of petrol is the cheapest in Delhi when compared to all other metros because of low taxes. So far in February, the price of petrol has been reduced by Rs.1.15 for a litre in Delhi. The prices of petrol in Mumbai, Kolkata, Chennai, Gurugram, and Noida remained unchanged on 15 February 2020 as well. The prices of petrol in Mumbai, Kolkata, Chennai, Gurugram, and Noida are Rs.77.60, Rs.74.58, Rs.74.73, Rs.72.04, and Rs.73.86 for a litre, respectively. Since over 80% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the global markets have a huge impact in determining the prices of petrol. Brent crude oil prices in the international markets increased by 1.74% and were trading at $57.32 for a barrel.

      15 February 2020

    • Prices of petrol reduced by up to 9 paise on 2 February 2020

      Oil marketing companies that are run by the state reduced the prices of petrol by up to 9 paise across all the major cities in India on 2 February. The prices of petrol have been reduced for the fourth day in a row.

      The reduction in prices comes one day after the budget, as the demand for crude oil reduced because of the coronavirus. In Delhi, the price of petrol was reduced by 9 paise and touched Rs.73.10 for a litre. It is worth noting that the prices of petrol are the cheapest in Delhi when compared to most other state capitals as lower taxes are levied. In Kolkata, Mumbai, and Chennai, the prices of petrol were reduced by 8 paise and touched Rs.75.77, Rs.78.75, and Rs.75.95 for a litre, respectively. As over 80% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the global market are important factors that affect the price of petrol. In the month of January, the price of petrol in the national capital was reduced by Rs.1.96 for a litre.

      2 February 2020

    • Petrol prices decreased by up to 16 paise on 16 January 2020

      Following the daily revision of fuel prices, oil marketing companies that are run by the state decreased the prices of petrol by up to 16 paise across the four metros on 16 January 2020.

      According to the data available on the official website of Indian Oil Corporation, the price of petrol in Delhi was reduced by 15 paise and touched Rs.75.70 for a litre. The price of petrol in Delhi is the cheapest when compared to other metros and most state capitals due to lower taxes. So far in 2019, the prices of petrol have been increased by 41 paise in Delhi. On 15 January 2020, no changes were made to the prices of petrol across the major cities in India. In Mumbai and Kolkata, the prices of petrol were decreased by 15 paise and touched Rs.81.14 and Rs.78.14 for a litre, respectively. The price of petrol in Chennai was reduced by 16 paise and touched Rs.78.49 for a litre. In Gurugram and Noida, the prices of petrol were decreased by 12 paise and touched Rs.74.88 and Rs.76.68 for a litre, respectively. Since over 80% of India’s crude requirements are imported, the value of the rupee against the dollar and the crude oil prices in the international market play a major role in affecting the prices of petrol.

      16 January 2020

    • Petrol prices remain the same on 28 December 2019

      Following the daily revision of fuel prices, oil marketing companies that are operated by the state did not make any changes to the prices of petrol across the major cities in India on 28 December 2019.

      The prices of petrol were increased by up to 6 paise on 27 December 2019. In Delhi, the price of petrol was the same when compared to 27 December 2019 and was at Rs.74.74 for a litre. The price of petrol is the cheapest in Delhi when compared to most other cities across India due to low taxes. The prices of petrol in Kolkata, Chennai, Mumbai, Gurugram, and Noida remained the same as well when compared to 27 December 2019. According to the official website of Indian Oil Corporation, the updated prices of petrol in Kolkata, Chennai, Mumbai, Gurugram, and Noida are at Rs.77.40, Rs.77.70, Rs.80.40, Rs.74.29, and Rs.76.09 for a litre, respectively. Since over 80% of India’s crude requirements are imported, the value of the rupee against the dollar and the prices of crude oil in the global markets play a vital role in affecting the prices of petrol in the country.

      2 January 2020

    • Prices of petrol remain stagnant on 18 December 2019

      Oil marketing companies that are operated by the state did not make any changes to the prices of petrol across the major cities in India on 18 December 2019. On 17 December 2019, the prices of petrol increased by up to 6 paise.

      In the national capital, the price of petrol remained the same and hit Rs.74.63 for a litre. Due to low taxes being imposed, the price of petrol in Delhi is the cheapest when compared to all the metros and most other state capitals. The prices of petrol in Mumbai, Kolkata, Chennai, Gurugram, and Noida remained the same as well when compared to 17 December 2019. The updated prices of petrol in Mumbai, Kolkata, Chennai, Gurugram, and Noida are at Rs.80.29, Rs.77.29, Rs.77.58, Rs.74.20, and Rs.76 for a litre, respectively. Since more than 80% of India’s crude requirements are imported, the rupee to the dollar exchange rate and the crude oil prices in the international market plays an important role in affecting the petrol prices. The pressure on the oil market eased as well after phase one agreement in the trade talks between China and the US. Due to the lengthy dispute between China and the US, there were concerns that the economy would be hurt.

      18 December 2019

    • OMCs continue to increase petrol prices for the third consecutive day

      The rates of petrol were hiked by state-run Oil Marketing Companies for the third consecutive day on Sunday. Following the daily revision, the prices were increased by 10-11 paise per litre. The increase in the prices saw every litre of petrol being retailed for Rs.74.54 in the national capital. In the other three metropolitan cities i.e., Mumbai, Kolkata, and Chennai a litre of petrol cost Rs.80.20, Rs.77.22, and Rs.77.49 respectively. In non-metropolitan cities like Noida and Gurugram, consumers were required to shell out Rs.75.93 and Rs.74.13 for a litre of petrol. It must be noted here that the prices of petrol are the cheapest in the national capital among all metropolitan cities and state capitals due to lower taxes.

      In the international oil market, crude prices declined on Friday. The futures of Brent crude oil and US West Texas Intermediate (WTI) were down by 58 and 81 cents respectively to be trading at $63.39 and $57.77 per barrel. The Indian rupee settled 5 paise lower at 71.71 against the US dollar on Friday.

      With OMCs adopting the dynamic pricing scheme in the month of June 2017, the rates are dependent on international oil prices and the value of rupee against the US dollar.

      24 November 2019

    • Petrol prices increase by 20 paise on 10 November 2019

      Oil marketing companies that are state-run increased petrol prices for the third day in a row on 10 November 2019. The prices of petrol were increased in all major cities such as Gurugram, Noida, Kolkata, Chennai, Mumbai, and Delhi.

      In Delhi, the price of petrol increased by 20 paise and hit Rs.73.05 for a litre. However, the price of petrol in Delhi is the cheapest when compared to other states because of the low taxes. Petrol prices are revised every day in India. The price of petrol in Mumbai increased by 20 paise as well and hit Rs.78.72 for a litre. In Chennai, the price of petrol increased by 21 paise when compared to 9 November 2019 and hit Rs.75.92 for a litre. Kolkata also saw an increase of 20 paise in petrol prices and hit Rs.75.56 for a litre. In Noida and Gurugram, petrol prices increased by 16 paise and hit Rs.72.76 and Rs.74.76 for a litre, respectively. Several factors such as the global crude prices and the rupee to dollar exchange rate determine the price of petrol in India. The prices of petrol include dealer commission, value-added tax, and excise duty.

      11 November 2019

    • Petrol prices fall in the metropolitan cities

      The rates of petrol across the metropolitan cities of the country fell on Thursday. Compared to the previous day, Oil Marketing Companies (OMCs) cut the rates by 5 paise per litre. Following the revision in the prices, a litre of petrol was retailed for Rs.73.17 in the national capital. In Mumbai, the commercial capital consumers were required to shell out Rs.78.78 while in Kolkata and Chennai a litre cost Rs.75.82 and Rs.75.99 respectively. It needs to be mentioned here that the prices of petrol were the cheapest in the Delhi among all metropolitan cities and state capitals due to lower taxes.

      In the international oil market, crude prices witnessed a fall in the prices. The dip in the prices came after the rates shot up in the previous two sessions. Brent crude oil continued to trade above the mark of $60.

      It needs to be mentioned here that fuel prices are revised on a daily basis as per the dynamic pricing scheme. As per the mechanism, the rates are dependent on international oil prices on a 15-day average and the value of rupee against the US dollar.

      24 October 2019

    • Price of petrol decreases as state-run companies reduce rates

      The price of petrol and diesel decreased marginally on 15 October 2019 by 5 paise as the state-run oil marketing companies reduced the rates. Crude oil futures decreased to Rs.3,854 per barrel, down by 0.39% as investors reduced positions with a weak global trend.

      Crude oil for delivery on the Multi Commodity Exchange dipped by Rs.15 to Rs.3,584 per barrel with a volume of 21,539 lots. Brent Crude, the international benchmark was priced at $59.81 per barrel falling by 1.16%.

      According to the website of Indian Oil Corporation Ltd (IOCL), in Delhi, petrol prices were down by 5 paise, priced at Rs.73.27 per litre on Tuesday, while the price of diesel was down by 5 paise to Rs.66.41 per litre on 15 October 2019.

      In Mumbai, a litre of petrol was priced at Rs.78.88 on Tuesday, recording a decrease of 5 paise down 5 paise from 14 October 2019 whereas a litre of diesel is priced at Rs.69.61 in Mumbai.

      Coming to Chennai, petrol was priced at Rs.76.09 per litre, while diesel was being sold at Rs.70.15 a litre. In Kolkata, the petrol rate is down by 5 paise to Rs.75.92 a litre on 15 October, while diesel was priced at Rs.68.77 a litre on the same day.

      In Noida, petrol prices were retailing at Rs.74.89 a litre, while the price of diesel reduced by 5 paise to Rs.66.67 per litre. In Gurugram, the price of petrol was Rs.73.09 a litre while diesel was selling at Rs.65.62 per litre.

      17 October 2019

    • Price of petrol decreases as state-run companies reduce rates

      The price of petrol and diesel decreased marginally on 15 October 2019 by 5 paise as the state-run oil marketing companies reduced the rates. Crude oil futures decreased to Rs.3,854 per barrel, down by 0.39% as investors reduced positions with a weak global trend.

      Crude oil for delivery on the Multi Commodity Exchange dipped by Rs.15 to Rs.3,584 per barrel with a volume of 21,539 lots. Brent Crude, the international benchmark was priced at $59.81 per barrel falling by 1.16%.

      According to the website of Indian Oil Corporation Ltd (IOCL), in Delhi, petrol prices were down by 5 paise, priced at Rs.73.27 per litre on Tuesday, while the price of diesel was down by 5 paise to Rs.66.41 per litre on 15 October 2019.

      In Mumbai, a litre of petrol was priced at Rs.78.88 on Tuesday, recording a decrease of 5 paise down 5 paise from 14 October 2019 whereas a litre of diesel is priced at Rs.69.61 in Mumbai.

      Coming to Chennai, petrol was priced at Rs.76.09 per litre, while diesel was being sold at Rs.70.15 a litre. In Kolkata, the petrol rate is down by 5 paise to Rs.75.92 a litre on 15 October, while diesel was priced at Rs.68.77 a litre on the same day.

      In Noida, petrol prices were retailing at Rs.74.89 a litre, while the price of diesel reduced by 5 paise to Rs.66.67 per litre. In Gurugram, the price of petrol was Rs.73.09 a litre while diesel was selling at Rs.65.62 per litre.

      16 October 2019

    Petrol Price In Metro Cities
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