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Petrol Price in Mumbai (25th May 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 ₹ 77.14 (25th May 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.

May 25, 2019
₹ 77.14 /Ltr ( ₹ 0.14 )

Last 10 Days Petrol Rate in Mumbai

Date Price Price Change
May 24, 2019 ₹ 77.00 ₹ 0.14
May 23, 2019 ₹ 76.86 ₹ 0.08
May 22, 2019 ₹ 76.78 ₹ 0.00
May 21, 2019 ₹ 76.78 ₹ 0.05
May 20, 2019 ₹ 76.73 ₹ 0.09
May 19, 2019 ₹ 76.64 ₹ 0.00
May 18, 2019 ₹ 76.64 ₹ -0.07
May 17, 2019 ₹ 76.71 ₹ -0.08
May 16, 2019 ₹ 76.79 ₹ 0.00
May 15, 2019 ₹ 76.79 ₹ 0.00

Daily & Monthly Petrol Price in Mumbai : Graphical Representation

Historical Petrol Price in Mumbai

  • Trend of Petrol Rate in Mumbai, May 2019
  • Petrol Price
    1st May Rs.78.70
    25th May Rs.77.14
    Highest rate in May Rs.78.71 on May 4th
    Lowest Rate in May Rs.76.64 on May 18th
    Over all performance Falling
    % Change -2.02%
  • Trend of Petrol Rate in Mumbai, April 2019
  • Trend of Petrol Rate in Mumbai, March 2019
  • Trend of Petrol Rate in Mumbai, February 2019
  • Trend of Petrol Rate in Mumbai, January 2019
  • Trend of Petrol Rate in Mumbai, December 2018
  • Trend of Petrol Rate in Mumbai, November 2018

Daily petrol prices in Mumbai were revised beginning from June 15, 2017, after it was felt that the oil marketing companies were capable of revising petrol prices on a daily basis. While it was earlier not possible, due to various technical issues, these days it is highly possible to revise prices on a daily basis.

Daily Petrol Prices in Mumbai Revised

Mumbai petrol prices in the first few days of price revision are seeing changes of a few paise.

This is largely beneficial for consumers as they can easily absorb the same. On the other hand it may be difficult to absorb the huge burden of says Rs 2-3, which would happen after a fortnight's revision in daily prices. We are providing todays petrol prices, which is largely the daily price, the revision of which happens at 6 am in the morning. You would do well to check the daily petrol prices on goodreturns.inn and fill petrol, in case you are planning to completely fill your tank.

How are petrol rates in Mumbai determined?

Petrol prices in Mumbai are determined in a host of ways, including the international prices of crude and the movement of the currency against the US Dollar.  When global prices of crude rally, they tend to impact domestic petrol prices, which means todays petrol prices in Mumbai are likely to go higher. For example, if crude oil moves from $55 to $70, its impact would most certainly be felt on the prices of petrol at the retail levels.

However, what would also be paramount would be the currency movement. For example, when the US dollar rises against against the rupee, crude prices become costlier for fuel. On the other hand if the rupee gains against the dollar, both petrol and diesel prices become costlier. It is hoped that this in turn would entail lowering the prices of petrol at the petrol stations.

Factors influencing petrol prices in Mumbai

There are a host of factors that ultimately lead to higher petrol prices in the city of Mumbai. This includes the import duty, and the taxes that are imposed by the state. Apart from this todays petrol prices in Mumbai also reflect the dealer margins, that is the margins that are levied by the retail petrol pumps. Many estimates suggest that are petrol rates should work to Rs 40, but we in Mumbai end-up paying Rs 80 per litre. This is not good and the government must thing of reducing the taxes on petrol, so as to benefit the common man. The fuel internationally has fallen from levels of $100 to the current levels of $65, but we have not seen a corresponding reduction in the prices of petrol at the retail level. 

However, it would be very important to check the petrol rates before you fill your car or vehicle tank. 

 

Petrol Prices in Mumbai Moves Up

The petrol prices in Mumbai gained slightly following global trends amidst tensions between the U.S.

and China. The petrol rates in Mumbai were seen trading at Rs 77.00 per litre, up by 14 paise.

In the international markets, Brent was seen trading at $67.17 per barrel, up by 1.01% and West Texas Intermediate was at $58.43 per barrel, up by 0.90%.

The OPEC members have led the supply cut off crude supply since the beginning of this year by trimming down the crude supply to the tune of 1.2 million barrels per day (bpd) which has tightened the market leading to the rallying of crude prices. The crude prices have gained more than 30% till date during fiscal 2019 alone.

During today’s trade session the crude prices rose up by more than 1% in the overseas markets amidst tensions in the Middle East over smooth supply of crude by oil majors.

As per the emerging reports from ANZ, the U.S. sanctions on Iran and Venezuela’s oil industry will further reduce the crude exports from OPEC + members because both the countries are members of the Organization of the Petroleum Exporting Countries.

The petrol prices in Mumbai is mainly decided based on crude prices in the global markets and the dollar-rupee exchange rate. The rise in crude rates in the global market has pushed the prices of petrol in Mumbai to go up.

24 May 2019
Petrol Prices in Mumbai Marches Up Lightly

The petrol prices in Mumbai marched up despite witnessing a fall in the overseas markets amidst a rise in U.S. crude inventories and decline in demand for crude supply from oil importing nations. The petrol rates in Mumbai were seen at Rs 76.86 per litre, up by 8 paise.

In the overseas markets, Brent stood at $70.37 per barrel, down by 0.87% and WTI was at $60.91 per barrel, down by 0.83%.

The production of crude in the United States of America has surged up since last week and has hit a record high levels since July 2017 stated a report from the Energy Information Administration (EIA). The commercial production of U.S. crude is up by 4.7 million barrels for the week ending May 17 and has touched 476.8 million barrels, it's highest ever since July 2017 reveals data from EIA.

The weak demand for crude from most of the oil importing nations due to the escalation of tensions between the U.S. and Iran has also contributed towards the fall in their prices in the global markets.

India imports more than 80% of crude oil from abroad and hence any rise or fall in crude prices in the global markets will have a direct impact on petrol prices in the domestic market. The fuel prices in India is mainly determined by international crude prices and rupee-dollar currency exchange rate.

23 May 2019
Petrol Rates in Mumbai Remains Unmoved

The petrol prices in Mumbai remained unmoved despite the decline in crude prices in the overseas markets amidst reassurance from Saudi Arabia for a balanced and sustainable oil market. The petrol rates in Mumbai were seen trading at Rs 76.78 per litre.

In the overseas markets, Brent was seen trading at $71.68 per barrel, down by 0.69% and West Texas Intermediate was at $62.46 per barrel, down by 1.06%.

The rising U.S. stockpiles have helped the crude prices in the international market to shrink as even Saudi Arabia announced its decision to remain committed towards a balanced and sustainable oil market.

As per the reports from the American Petroleum Institute, the U.S. crude stockpiles increased by 2.4 million barrels during last week and has touched a record 480.2 million barrels as against an analysts estimate of shrinkage of 599,000 barrels.

The OPEC member nations decision to cut down oil supply to the tune of 1.2 million barrels per day has led to the rallying crude rates in the oil industry since the beginning of January 2019.

Meanwhile, in Mumbai, the upcoming announcement of Lok Sabha Election results which is scheduled for tomorrow has helped to keep the petrol prices same irrespective of its move in the global markets.

22 May 2019
Petrol Prices in Mumbai Hiked Again

The petrol prices in Mumbai rose up following global trends amidst rising tensions between the U.S. and China over the costly trade war. The petrol rates in Mumbai were seen at Rs 76.78 per litre, up by 5 paise.

In the international market, Brent was seen trading at $72.24 per barrel, up by 0.38% and West Texas Intermediate was at $63.56 per barrel, up by 0.55%.

The ongoing tensions between the U.S. and Iran have escalated further with a rocket explosion near the U.S. embassy in Baghdad. This has enraged the U.S. President who threatened Iran with great force if its interests are attacked in the Middle East region. The U.S. suspects that an organization which has tied up with Iran’s military was responsible for the attack.

On the other hand, the trade spat between the U.S. and China has pressurized the financial markets which have been dragged down by costly trade war between the major economies. If the situation continues for a longer time then it may result in a broad global slowdown.

Meanwhile, the possible re-election of the present government in Centre has appreciated the rupee value during today’s trade session against the U.S. dollar. The rise in crude rates in global markets has reflected in rising petrol prices in Mumbai.

21 May 2019
Petrol Prices in Mumbai Hiked Following Global Cues

The petrol prices in Mumbai were hiked amidst a rise in crude prices in the global markets amidst OPEC members stance to keep supply cut plan intact. The petrol rates in Mumbai stood at Rs 76.73 per litre, up by 9 paise.

In the international market, Brent was seen trading at $73.14 per barrel, up by 1.29% and West Texas Intermediate was seen at $63.68 per barrel, up by 1.21%.

In a move that shook the oil industry, the OPEC and its allied members are all set to drive down crude inventories gently in the coming months and have decided to keep the production cut plan intact at the moment. This helped the crude prices to shoot up during today’s trade session.

The Saudi Energy Minister in his statement announced that his county will remain responsive to meet the needs of what he termed as a fragile market.

The OPEC and its members had decided to cut down crude supply by 1.2 billion barrels per day starting from January 1, 2019, with an aim to support prices amidst oversupply of crude to the oil industry. This has helped the crude prices to move up and so far crude has gained close to 30% in fiscal 2019 alone.

Meanwhile, in Mumbai, the rising crude rates in the global markets has led to the rise in fuel prices in the local markets amidst appreciating rupee.

20 May 2019
Petrol Prices Depreciates in Mumbai

The petrol prices in Mumbai depreciated following global clues amidst tensions in the Middle East over the disruption of crude supply. The petrol rates in Mumbai were recorded at Rs 76.64 per litre, down by 7 paise.

In the global scenario, Brent stood at $72.21 per barrel, down by 0.56% and West Texas Intermediate was at $62.76 per barrel, down by 0.17%.

The recent attack on Saudi Arabia’s oil tankers and at two of its oil production units had led to the rallying up of crude prices in the global markets. Iran’s elite Revolutionary Guards are suspected to have carried out these attacks to avenge U.S. sanctions on Iran’s crude exports.

The U.S. President – Donald Trump’s decision to impose sanctions on Tehran’s crude exports has put the country in severe financial distress. Iran mainly depends on the exports of fuel to earn revenue. On the other hand, the U.S. President is not interested to wage a war against Iran and the same has been conveyed to the top officials in the U.S. government.

The OPEC members are all set to meet over the weekend to decide if they have to continue with the same amount of crude supply to the oil industry or they will have to extend it amidst fall in fuel supply from Tehran. The OPEC’s decision to cut down crude supply has boosted fuel prices by more than 30% so far during 2019.

18 May 2019
Petrol Prices Declines In Mumbai By 8 Paise

The petrol prices in Mumbai dipped despite surging up in the overseas markets amidst the escalation of tension in the Middle East region. The petrol rates in Mumbai were recorded at Rs 76.71 per litre, down by 8 paise.

In the global scenario, Brent was seen at $72.78 per barrel, up by 0.22% and West Texas Intermediate was seen at $63.16 per barrel, up by 0.46%.

In an apparent bid to safeguard crude supply, Saudi Arabia led military coalition in Yemen has carried out air strikes in Houti held capital region Sanaa, after Iranian aligned movement claimed responsibility for carrying out armed drone strikes on Saudi Arabia’s oil pumping station earlier during this week.

The escalating tension amidst Middle East countries over the disruption of the supply of crude oil has pressurized the prices to move up in the oil industry.

On the other hand, the United States of America has deployed a sizable military force in the Middle East and has evacuated its Embassy staff in Baghdad sensing possible threat from Iran. The U.S. decision to lift waivers on Iran’s crude oil exports has impacted the economy of Tehran badly and this has triggered tensions in the Middle East region.

The market is eagerly waiting to see the OPEC members decision wheather it will increase its crude supply or will continue with supply cuts which boosted prices by more than 30%, till date during fiscal 2019.

17 May 2019
Petrol Prices in Mumbai Stands Still

The petrol prices in Mumbai has remained flat despite surging up in the global markets amidst crude supply disruptions in the Middle East region. The petrol rates in Mumbai were recorded at Rs 76.79 per litre, during today’s trade session.

In the global markets, Brent stood at $72.04 per barrel, up by 0.38% and West Texas Intermediate was seen at $62.36 per barrel, up by 0.55%.

The crude rates marched up for the third consecutive day in a row amidst fears of supply disruptions owing to heightened tensions in the Middle East region which eventually overshadowed an unexpected rise in crude output in the United States of America’s inventories.

The recent attacks on Saudi Arabia’s oil pipeline and ships of the United Arab Emirates Fujairah port have fueled concerns over the future of crude supply amongst the oil importing nations. On Sunday, an attempt was made to sabotage Saudi Arabia’s four oil tankers in the Gulf region. Following this, another attack was made with armed drones which hit two of the Saudi Arabia’s oil pumping stations.

The ongoing election season in India has kept the petrol rates to stand still irrespective of its movement in the overseas markets.

16 May 2019
Petrol Prices in Mumbai Remains Unmoved

The prices of petrol in Mumbai remained unmoved despite witnessing a fall in the global markets amidst tensions in the Middle East region. The petrol rates in Mumbai were seen at Rs 76.79 per litre.

In the overseas markets, the crude benchmark – Brent was seen trading at $71.02 per barrel, down by 0.31% and WTI was at $61.30 per barrel, down by 0.78%.

Today, Saudi Arabia announced that armed drones have struck two of its oil pumping stations. This comes two days after the sabotage of oil tankers near the coast of United Arab Emirates. The tensions between the U.S. and Iran is the likely reason behind the attack as the U.S. has withdrawn waivers to Iran to export its crude supply with effect from May 1, 2019.

The U.S. is all braced up for possible imminent threat from Tehran to its forces which are currently stationed in Iraq. On the other hand, the rise in crude production from the U.S. has led to the fall in crude rates in the global markets. The U.S. Energy Department’s Energy Information Administration is all set to release the numbers later today.

The ongoing election season in the country has helped the petrol prices in Mumbai to stay constant irrespective of its movement in the overseas markets.

15 May 2019
Petrol Prices in Mumbai Declines

The petrol prices in Mumbai slid despite inching up in the international markets amidst the escalation of trade tensions between the U.S. and China. The petrol rates in Mumbai were recorded at Rs 76.79 per litre, down by 25 paise.

In the global scenario, Brent was seen at $70.59 per barrel, up by 0.51% and WTI was seen at $61.26 per barrel, up by 0.36%.

The trade tensions between the U.S. and China has entered into a new phase with China imposing a new set of tariffs on U.S. goods to the tune of $6 billion. The move comes after U.S. President Donald Trump announced his decision to impose new tariffs on a range of Chinese imposed goods by $200 billion with effect from last Friday. The tit – for – tat tariffs between both the major nations have tumbled the equities markets across the globe sending a sense of fear amongst the investor community.

The OPEC member nations, on the other hand, is yet to increase their supply of crude to the oil industry amidst imposition of sanctions by the United States of America on Iran and Venezuela’s crude exports. The oil industry is currently experiencing tightness and has pressurized the prices to move up posing a dilemma for oil importing nations.

The month-long poll season in the country has put a cap on petrol rates in Mumbai. Analysts are predicting that the prices of the fuel are likely to march up after the announcement of election results that is post-May 23.

14 May 2019

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