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Petrol Price in Mumbai (22nd September 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 ₹ 79.02 (21st September 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.

Sep 21, 2019
₹ 79.02 /Ltr ( ₹ 0.29 )

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
Sep 20, 2019 ₹ 78.73 ₹ 0.34
Sep 19, 2019 ₹ 78.39 ₹ 0.29
Sep 18, 2019 ₹ 78.10 ₹ 0.25
Sep 17, 2019 ₹ 77.85 ₹ 0.14
Sep 16, 2019 ₹ 77.71 ₹ 0.00
Sep 15, 2019 ₹ 77.71 ₹ 0.06
Sep 14, 2019 ₹ 77.65 ₹ 0.08
Sep 13, 2019 ₹ 77.57 ₹ 0.07
Sep 12, 2019 ₹ 77.50 ₹ 0.05
Sep 11, 2019 ₹ 77.45 ₹ 0.00

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, September 2019
  • Petrol Price
    1st September Rs.77.67
    30th September Rs.79.02
    Highest rate in September Rs.79.02 on September 21st
    Lowest Rate in September Rs.77.40 on September 8th
    Over all performance Rising
    % Change +1.71%
  • 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
  • Trend of Petrol Rate in Mumbai, March 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 Raises By 29 Paise

The petrol prices in Mumbai rose up despite a fall in global crude prices as Saudi Arabia plans to return to full capacity by this month-end.

The petrol rates in Mumbai were trading at Rs 79.02 per litre, up by 29 paise.

In the overseas markets, Brent was seen trading at $63.20 per barrel, down by 0.21% and WTI was at $58.09 per barrel, down by 0.17%.

The state-run Saudi oil firm Aramco said that it will bring back normal fuel production by September end amidst the recent attacks at its Khurais and Abqaiq units which wiped out half of global crude supply. The U.S. and Saudi have blamed Iran for carrying out attacks in the world’s largest oil company.

The Saturday’s attack has shut down oil output by 5.7 million barrels per day (bpd), despite this Saudi Arabia has managed to restore the full supplies to customers by Tuesday after drawing fuel from its massive oil inventories.

Meanwhile, the Indian rupee surged up against dollar to settle at 71.20 after the government trimmed down corporate tax rate on domestic firms and new manufacturers.

21 September 2019
Petrol Rates in Mumbai Hiked Again

The petrol prices in Mumbai rose up following global cues amidst growing tensions in the Middle East region. The petrol rates in Mumbai were recorded at Rs 78.73 per litre, up by 34 paise.

In the overseas markets, the crude benchmark – Brent was seen trading at $63.66 per barrel, up by 0.52% and WTI was at $58.67 per barrel, up by 0.82%.

In a move to retaliate the attack on the Aramco’s Khurai and Abqaiq oil plants last Saturday. The kingdom country has launched a military coalition which was reportedly carried out on specific targets in Yemen. Saudi Arabia and the U.S. has blamed Iran for the attacks, though Tehran has denied its involvement. Saudi Arabia’s strikes have hit the areas north of Yemen’s port city of Hodeidah.

The last week’s attack at Saudi Arabia’s Aramco oil facility has led to the downfall of the crude production by close to 5% of the global capacity from the oil major.

Meanwhile, the rupee value continued to surge up against the dollar during today’s trade session and was seen trading at 70.87.

20 September 2019
Petrol Rates in Mumbai Hiked Again

The petrol rates in Mumbai stood up despite easing off in the international markets after Saudi Arabia set out the timeline to return to normalcy shortly. The petrol prices in Mumbai were seen at Rs 78.39 per litre, up by 29 paise.

In the global markets, crude benchmark – Brent was trading at $62.73 per barrel and West Texas Intermediate (WTI) was at $58.20 per barrel.

Saudi Arabia’s ability to return to normalcy within a short period after the Saturday’s attack on two of its oil production units has helped the crude prices to ease up. The kingdom country has set out the deadline to full operation and has also said that it has managed to restore its supplies to customers at levels before the attacks by gathering fuel from its inventories.

Saudi Arabia happens to the world’s leading fuel exporter, the recent attack has wiped out half of the crude production of the kingdom country.

As initial investigations point out that Iran was behind the attack, the U.S. President – Donald Trump has said that there were many options short of war with Iran at the moment and further added that he has ordered the U.S. Treasury to substantially raise sanctions on Iran.

Meanwhile, the rupee value opened lower at 71.35 per dollar, down by 0.16% against the previous close of 71.24. The weak rupee has led to the rise in petrol prices in Mumbai during today’s trade session.

19 September 2019
Petrol Prices in Mumbai Rises

The petrol prices in Mumbai inched up despite a fall in global crude prices as crude production in Saudi Arabia is returning back to normalcy. The petrol rates in Mumbai were seen trading at Rs 78.10 per litre, up by 25 paise.

In the international markets, Brent was seen trading at $63.50 per barrel, down by 0.09% and WTI was at $59.03 per barrel, down by 0.52%.

Saturday’s attack over two of the oil facilities at Saudi Arabia’s Aramco unit has sparked tensions in the Middle East. The attack has crippled the oil industry as half of Saudi Arabia’s oil production has been shut down which accounts for 5 per cent of global output.

The initial investigation reports suggest Iran is behind the attack, though Iran is dismissing the claims. Iran’s ally – Houthis has claimed responsibility for the attack saying that they struck the plants with drones including some powered by jet engines.

Serious efforts are made to bring back the production capacity back to normalcy. In an address to the media the Saudi Arabia’s Energy Minister – Prince Abdulaziz bin Salman said that the kingdom will restore its lost oil capacity by the end of September and further added that the average fuel production in September and October will be 9.89 million barrels per day (bpd).

Meanwhile, the Indian rupee marched up against the U.S. dollar to touch 71.78, up by 18 paise amidst easing crude oil prices.

18 September 2019
Petrol Prices in Mumbai Hiked By 14 Paise Per Litre

The petrol prices in Mumbai rose up despite cooling off crude prices in the overseas markets amidst attack on Saudi oil plant. The petrol rates in Mumbai were recorded at Rs 77.85 per litre, up by 14 paise.

In the overseas markets, the crude benchmark – Brent was seen trading at $67.04 per barrel, down by 0.95% and WTI was at $62.04 per barrel, down by 1.37%.

The attack on Saudi Arabia’s oil plants has sent the oil prices soaring further escalating the Middle East conflict badly. Preliminary investigations point out that Iran’s Houthi rebels are behind the attack. Iran has rejected the U.S. charges as baseless and unacceptable.

The attack has boosted the crude prices to rally up by over 10% during the recent trade sessions, leaving the consumers in brink about the easy supply of crude shortly.

Saudi Arabia is the biggest producer of crude in the globe and with this attack, its oil production has been wiped out by 5.7 million barrels per day.

Meanwhile, the rupee value depreciated further against the U.S. dollar following the Saudi attack which has spurred the demand for haven assets. The rupee was seen trading at 71.71 against the U.S. currency.

17 September 2019
Petrol Rates in Mumbai Stays Afloat

The petrol rates in Mumbai stood afloat despite a rise in crude prices in the overseas markets owing to the Saturday’s attack on Saudi Arabia’s Aramco oil facility. The petrol prices in Mumbai were seen trading at Rs 77.71 per litre.

In the global scenario, Brent was seen trading at $66.58 per barrel, up by 10.56% and West Texas Intermediate (WTI) was at $59.99 per barrel, up by 9.37%.

The Saturday’s strike on the heartland of Saudi Arabia’s Aramco unit has intended damage to the world’s biggest petroleum processing facility driving the oil prices to its highest level in the past four months. The attack has declined the crude production in the unit and has also removed almost all the spare capacity which is available for compensation in case of any major disruption in crude supply across the globe.

The attack has trimmed down Saudi Aramco’s oil output by over 5 per cent of the world’s supply.

The U.S. President – Donald Trump has announced the release of fuel from the U.S. Strategic Petroleum Reserve (SPR) if required in quantity to overcome shortage following the attack.

Meanwhile, the domestic Indian rupee fell sharply against the U.S. dollar owing to surge in crude prices. The rupee was seen trading at 71.42 against the dollar as compared to the previous close of 70.92.

16 September 2019
Petrol Prices in Mumbai Rises Up

The petrol prices in Mumbai rose up despite a decline in global crude rates owing to weak demand. The petrol rates in Mumbai were seen trading at Rs 77.57 per litre, up by 7 paise.

In the overseas markets, Brent stood at $60.28 per barrel, down by 0.17% and West Texas Intermediate (WTI) was at $55.03 per barrel, down by 0.11%.

The year-long trade tariff dispute between the U.S. and China has dragged the global economy towards recession as most of the countries are facing slow down of their respective economy at the moment. A series of measures are being taken by the respective country’s Central Bank to review the economy.

The likely resolution of trade spat between the U.S. and China has helped the equities markets to rise during today’s trade session. Both the countries have shown signs of easing tough stance on each other during this week which has helped the Asian stock markets to inch up further.

Meanwhile, the analyst noted the rise in the Indian rupee for the seventh straight day against the U.S. dollar making it best weekly gains for the financial year. The rupee was trading at 70.87 a dollar as compared to the previous close of 71.13.

13 September 2019
Petrol Rates in Mumbai Gains

The petrol prices in Mumbai gained marginally following global trends amidst cut in crude demand forecast for 2020 by OPEC members. The petrol rates in India were recorded at Rs 77.50 per litre, up by 5 paise.

In the overseas markets, the Brent crude was seen trading at $61.13 per barrel, up by 0.53% and WTI was at $56.09 per barrel, up by 0.61%.

In a monthly report, the Organization of Petroleum Exporting Countries (OPEC) stated that the fuel demand will expand by 1.08 million barrels per day (bpd) in fiscal 2020, shorter by 60,000 bpd as per the previous estimate and pointed out that the market will be in surplus. The slowdown of the global economy is attributed to the decline in oil demand.

The unexpected firing of the U.S. National Security Advisor – John Bolton has eased out the tough standoff between the U.S. and Iran, as the U.S. President is likely to ease off sanctions on Tehran to boost the crude supply at a time when the global energy demand is declining.

Meanwhile, the domestic Indian rupee rose up by 37 paise as against the U.S. dollar today owing to gains in domestic equities markets and fresh inflow of foreign funds which strengthened the Indian rupee.

12 September 2019
Petrol Rates in Mumbai Stays Afloat

The petrol prices in Mumbai remained firm despite edging up of crude prices in the international markets amidst fall in the U.S. crude stockpiles. The petrol rates in Mumbai remained unchanged at Rs 77.45 per litre.

In the overseas markets, Brent was seen trading at $62.74 per barrel, up by 0.58% and WTI was at $57.76 per barrel, up by 0.63%.

The greater than expected fall in the crude stock inventories in the United States of America has boosted the prices of crude in the global platform. As per the recent data released by the American Petroleum Institute (API), the U.S. crude inventories were down by 7.2 million barrels during the week ending September 6 to touch 421.90 million as against the Reuters analysts expectations of a fall of 2.7 million barrels.

The surprise firing of the America’s National Security Advisor – John Bolton and the likely return of the sanctions-hit Tehran’s crude back to the market has also weighed on crude prices. Bolton was a noted Iran policy hawk and had also argued against Trump’s suggestions over a possible meeting with Iran’s leader. With Bolton’s departure, investors believe that it could lead to a softer U.S. policy on Iran.

Meanwhile, the rupee value opened lower at 71.84 against the U.S. dollar as against the previous close of 71.70.

11 September 2019
Petrol Rates in Mumbai Hiked Slightly

The petrol prices in Mumbai were hiked following global trends as crude prices gained in the global markets owing to the likely decline in the OPEC members crude supply to support prices. The petrol rates in Mumbai stood at Rs 77.45 per litre, up by 5 paise.

In the international markets, Brent was seen trading at $62.83 per barrel, up by 0.38% and WTI was at $58.10 per barrel, up by 0.43%.

Executives at the Annual Asia Pacific Petroleum Conference stated that they are expecting oil prices to be pressurized this year by skepticism surrounding the global economy amidst unsettled U.S. - China trade tariff row and rise in U.S. crude inventories.

In the U.S., the crude stockpiles are likely to dip for the fourth consecutive week last week as per the preliminary report from Reuters poll.

In a sudden move which has surprised the global crude markets, Saudi Arabia’s Energy Minister Khalid al-Falih has been replaced by Prince Abdulaziz bin Salman, the son of Saudi Arabia’s Kind and half-brother of crown price. The move helped the crude prices to gain over 2 per cent during yesterday’s trade session.

Meanwhile, the Indian rupee closed slightly up at 71.71 against the U.S. dollar during yesterday’s trade session.

10 September 2019

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