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 ₹ 76.31 (1st May 2020), 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.
|Apr 30, 2020||₹ 76.31||₹ 0.00|
|Apr 29, 2020||₹ 76.31||₹ 0.00|
|Apr 28, 2020||₹ 76.31||₹ 0.00|
|Apr 27, 2020||₹ 76.31||₹ 0.00|
|Apr 26, 2020||₹ 76.31||₹ 0.00|
|Apr 25, 2020||₹ 76.31||₹ 0.00|
|Apr 24, 2020||₹ 76.31||₹ 0.00|
|Apr 23, 2020||₹ 76.31||₹ 0.00|
|Apr 22, 2020||₹ 76.31||₹ 0.00|
|Apr 21, 2020||₹ 76.31||₹ 0.00|
|Highest rate in April||Rs.76.31 on April 2nd|
|Lowest Rate in April||Rs.75.30 on April 1st|
|Over all performance||Rising|
|Highest rate in March||Rs.77.40 on March 1st|
|Lowest Rate in March||Rs.75.30 on March 16th|
|Over all performance||Falling|
|Highest rate in February||Rs.78.83 on February 1st|
|Lowest Rate in February||Rs.77.56 on February 18th|
|Over all performance||Falling|
|Highest rate in January||Rs.81.60 on January 11th|
|Lowest Rate in January||Rs.78.88 on January 31st|
|Over all performance||Falling|
|Highest rate in December||Rs.80.79 on December 31st|
|Lowest Rate in December||Rs.80.29 on December 17th|
|Over all performance||Rising|
|Highest rate in November||Rs.80.51 on November 30th|
|Lowest Rate in November||Rs.78.28 on November 5th|
|Over all performance||Rising|
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.
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.
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.
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.?
Earlier until 2017, the central government of India used to fix the prices of fuel. But the country adopted the dynamic fuel pricing technique since June 15, 2017, and since then the oil marketing companies in India mainly the Indian Oil Corporation Limited (IOCL) will fix the retail prices of petrol and diesel in the country.?
The petrol prices in Mumbai remained firm despite edging of crude rates in the international markets amidst signs of picking up of oil demand.
The petrol rates in Mumbai were recorded trading at Rs 76.31 per litre.
In the international markets, Brent was seen trading at $25.29 per barrel, up by 12.20% and West Texas Intermediate (WTI) was at $17.34 per barrel, up by 15.14%.
The oil industry which is witnessing the worst crisis since the outbreak and widespread of the coronavirus pandemic witnessed two-digit growth in the crude rates during today’s trade session following a rise in crude demand amidst uncertainty.
Recently, the crude prices in the overseas markets crashed badly and traded in negative numbers owing to the depth of the crisis faced by the oil markets as the demand for oil has crashed to a record low level due to the pandemic outbreak which has let many nations to announce lockdown measures to tackle the spreading.
The International Energy Agency noted that the storage concerns linger around and this continues to weigh on the future of oil prices. It further added that the global capacity is likely to reach its maximum level by the middle of June 2020 and the energy demand is likely to plunge by a record 6% levels during 2020.
Meanwhile, China Petroleum & Chemical Corp noted that its daily sales of refined oil products have climbed and were now at over 90% of levels seen before the outbreak of pandemic has also weighed on the crude prices to rally up in the global markets.30 April 2020
The petrol prices in Mumbai stayed firm despite witnessing improvement of global crude rates as U.S. inventories showed smaller build than expected earlier helping the fuel rates to improve. The petrol rates in Mumbai were recorded trading at Rs 76.31 per litre.
In the overseas markets, the crude benchmark – Brent was seen trading at $21.40 per barrel, up by 4.59% and West Texas Intermediate (WTI) was at $14.28 per barrel, up by $15.72%.
The data on the U.S. inventories showed that the build was smaller than feared earlier and this has helped the crude prices in the global markets to rally up during today’s trade session. Apart from this most of the countries are also planning to ease the lockdown restrictions imposed and are chalking out a strategy to uplift the restrictions in a phased manner and this has also weighed on the fuel prices to march up.
With a series of stringent travel restrictions put in place, the demand for fuel has been hit badly which in turn has impacted on its prices and nose dived to hit negative prices during last week. The oil markets are witnessing its worst phase so far in the history owing to coronavirus crisis. The muted demand for oil added to surplus supply has further added woes to the existing debacle situation.
Analysts note that easing up of lockdown restrictions and reopening of the economy will help the crude demand to pick up slowly during the second quarter of 2020.29 April 2020
The petrol prices in Mumbai stood firm despite second day’s consecutive fall in global crude rates as crude demand slumps badly sending the prices of fuel to hit the lowest level in the international markets amidst the global economic crisis. The petrol rates in Mumbai were seen trading at Rs 76.31 per litre.
In the overseas markets, Brent was seen trading at $20.20 per barrel, up by 1.05% and West Texas Intermediate (WTI) was at $11.63 per barrel, down by 9.00%.
The dwindling capacity for global crude storage has raised concerns weighing on its prices to contain further during today’s trade session. As the growing fears of diminishing demand for oil and possible slow recovery even after countries ease restrictions of lockdown has declined the crude prices in the global markets.
The lockdown measures enforced by many nations have also impacted on the prices of oil as travel restrictions enforced on the movement of people have directly declined the demand for fuel across the globe.
Bernard Looney, the Chief Executive of British Petroleum (BP) said that his firm has expected that the demand for global fuel is likely to drop by roughly 15 million barrels per day (bpd) during the second quarter of 2020, owing to coronavirus related movement restrictions.
The OPEC members along with its non – member partners have agreed to trim down around 10 million bpd with effect from May 1, 2020.28 April 2020
The petrol prices in Mumbai stood firm despite further fall in the global crude rates as uncertainty looms over the demand for fuel in the international markets amidst coronavirus crisis. The petrol rates in Mumbai were recorded at Rs 76.31 per litre.
In the international markets, Brent was recorded at $21.08 per barrel, down by 1.68% and West Texas Intermediate (WTI) at $15.73 per barrel, down by 7.14%.
The recent crash of the U.S. crude futures to zero and trading at negative $38 per barrel has given further pain to the oil industry which is already ailing with weak fuel prices. Last week, the fuel prices nosedived and plunged to a record low prices which dampened the oil markets further amidst the coronavirus crisis which has diminished the demand for oil to a great extent.
The oil producer’s de – facto leader, Saudi Arabia had said that the other OPEC member partners were ready to take further steep measures, but have made no new commitments at the moment. Analyst note that it will be a measure of the depth of crude demand destruction that even if OPEC+ stopped production altogether, the supply may still be ahead of the demand.
The U.S. has announced over 600,000 barrels per day (bpd) of cut in production and another 300,000 bpd of oil will be cut in Canada. Even Brazil’s Petrobras has cut its output by 200,000 bpd.
The supply glut in the oil industry is affecting the prices of fuel to surge in the global markets. Given the lockdown situation enforced by many nations, the ban on travel be it domestic or international, less usage of vehicles on road and so on has declined the fuel consumption across the global markets.27 April 2020
The petrol prices in Mumbai remained firm despite a slight rise in global crude rates as coronavirus diminishes fuel demand sending the oil prices to crash and trade in negative points for the first time in the history of oil markets. The petrol rates in Mumbai were recorded trading at Rs 76.31 per litre.
In the international markets, Brent was spotted trading at $21.44 per barrel, up by 0.52% and West Texas Intermediate (WTI) was at $16.94 per barrel, up by 2.67%.
The outbreak and rapid widespread of the pandemic have diminished the demand for oil and has wiped out economic activity across the globe, putting the global economy in the worst recession mode.
The very safety and existence of human beings have come into question, as the pandemic has already claimed close to 1,70,000 people globally, infecting over 2 million people throughout the world.
The coronavirus has created mayhem in the oil markets as prices of U.S. crude nose-dived to hit zero and traded at negative $40 per barrel during the week and marked the worst week in the oil markets.
Analysts are expecting a sharp fall in the oil supply for months to come as economic activities, manufacturing activities, travelling has come to a standstill owing to lock down measures imposed by most of the nations to curtail the spread of the flu-like virus.
Storage of crude is also filling quickly across the globe, which may force OPEC to go for furthermore output cuts despite oil producers club agreeing recently to trim down around 9.7 million barrels per day.25 April 2020
The petrol prices in Mumbai were unchanged for over a long period despite global oil witnessing steep slide during the week amidst historic turmoil. The petrol rates in Mumbai were recorded trading at Rs 76.31 per litre, during today’s trade session.
In the international markets, Brent was seen trading at $22.21 per barrel, up by 4.13% and West Texas Intermediate (WTI) at $17.22 per barrel, up by 4.36%.
The global fuel prices which are witnessing a nightmare since many weeks are struggling to get back to normalcy as lack of demand added with storage capacity is adding woes to the existing situation and this led to the nose-diving of fuel prices to hit negative numbers during this week’s trade session.
The global storage space is filling up fast than expected, leaving behind abundant fuel supply unused in the markets which have weighed on its prices to slump further.
Crude demand in the global markets has declined by roughly 30% amidst coronavirus crisis which has tattered the global financial markets and has dragged the global economy to witness the worst global recession, never seen earlier.
Recently OPEC and its other producer's club met and agreed to cut 9.7 million barrels per day (bpd) of crude to counter the oversupply situation. But the situation is far from helping the fuel prices to rally to its earlier numbers.
Analysts note that unless more production shutdowns are made, the extracted fuel will have no place for storage amidst lockdown measures enforced by several nations to curtail the spread of pandemic which has created mayhem across the global markets.24 April 2020
The petrol prices in Mumbai was trading unchanged despite a surge in global crude rates following output trimmings and fresh tensions in the Gulf region. The petrol rates in Mumbai were recorded at Rs 76.31 per litre.
In the international markets, Brent was recorded trading at $21.99 per barrel, up by 7.95% and West Texas Intermediate (WTI) was at $16.26 per barrel, up by 18.00%.
The crude prices in the global scenario have witnessed the most tumultuous week. The expiring from month U.S. contract nose-dived into negative points for the first time as traders paid buyers to wash their hands off amidst lack of storage place for the existing supply glut situation.
The global oil producers club decided to cut down the crude output to the tune of 9.7 million barrels per day (bpd) in a move to cushion the oil market which has been suffering badly due to coronavirus output leading to diminished demand for oil.
The output cut by the oil producers and tensions in the Middle East region between the U.S. and Iran has helped the global crude prices to inch up strongly during today’s trade session.
The U.S. President – Donald Trump has directed the U.S. Navy to fire on the Iranian ships if they harass them in the Gulf region, this has fueled fresh tensions between the two nations which are already under logger's heads with each other for years.
The oil markets are currently facing supply glut as the supply is abundant compared to the demand owing to the outbreak and widespread of coronavirus which has forced many nations to implement lockdown measures to contain the spread of pandemic which has no vaccine to cure, so far.23 April 2020
The petrol prices in Mumbai remained intact despite a deep drop in global crude prices amidst feeble demand for oil. The petrol rates in Mumbai were spotted trading at Rs 76.31 per litre.
In the international markets, the crude benchmark – Brent was seen trading at $19.36 per barrel, up by 0.16% and West Texas Intermediate (WTI) was at $11.11 per barrel, down by 3.98%.
The unexpected crash in the global crude rates has kept the dollar in demand. The global crude prices crashed this Monday over the decline in storage capacity amidst abundant supply of oil which has weighed on its prices in the international markets amidst coronavirus outbreak.
Currently, the crude prices are trading below $20 per barrel, the lowest ever in the history of oil markets as the demand for oil has come down remarkably due to lockdown strategy enforced by many nations globally to contain the rapidly spreading pandemic which has become a nightmare to the very existence of human beings on this planet earth.
The slump in the fuel prices have soured risk appetite and seems to have halted the equities to rebound across the globe as many investors look forward to a longer and slower global economic recovery.22 April 2020
The petrol rates in Mumbai – financial capital in India have remained unchanged for 35 days in a row despite the huge decline in global crude rates as negative oil contracts reflect panic in oil markets and the reality of U.S. crude market. The petrol prices in Mumbai were spotted trading at Rs 76.31 per litre.
In the overseas markets, the West Texas Intermediate (WTI) crashed to the lowest level in the history of oil markets and settled at $2.550 per barrel and Brent was at $19.54 per barrel, down by 6.03%.
The weak demand for oil has sent shock waves across the oil markets which in turn has impacted on its prices over the last few weeks. But yesterday’s fall in the oil contracts to negative numbers have further weakened the oil markets. The WTI’s futures contract expired today and when the oil contracts expire, the holder will have to take possession of 1,000 barrels of crude for every contract they own.
OPEC and its oil producers club decided to trim down crude output production by record number which is 9.7 million barrels per day (bpd) in a move to stabilize the feeble oil markets. Despite their best efforts, the crude rates are showing no signs to return to normalcy.
Apart from this many nations have even come forward to build up their reserves with an abundant supply of oil in a move to ease the situation, but the storage capacity in the U.S. is filling much more quickly than expected. Cushing, Oklahoma, which is a tiny town which houses over 10,000 people and serves as the main storage hub in the U.S. was 70% full as of last week and traders are analyzing that it will be filled within two weeks.21 April 2020
The petrol prices in Mumbai stayed afloat despite witnessing a sharp fall in crude rates in the global scenario amidst muted demand for oil. The petrol prices in the financial capital in India traded at Rs 76.31 per litre.
In the global platform, the crude benchmark – Brent dipped further to settle at $27.84 per barrel, down by 0.85% and West Texas Intermediate (WTI) was at $15.54 per barrel, down by 14.94%.
The situation of the oil industry is worst as the crude prices have slid to its record lowest level never seen before since November 2001 amidst muted demand for oil which shows no signs of returning to normalcy at the moment.
The OPEC and the other oil producer partners which recently agreed to cut close to 9.7 million barrels per day (bpd) from the global markets wiping away close to 10% of global demand before the outbreak of coronavirus has helped little for crude rates to bounce back to normalcy.
As per the recent reports from the Saudi Arabia officials, the global supply cuts from the producer’s club could be near to 20 million bpd but this will also include voluntary cuts from the U.S. and Canada which are not part of the OPEC club.
Many oil-producing majors including BP Plc, Chevron Plc and Total SA have announced supply reductions, but the economic growth is diminishing swiftly and the physical crude markets suggest that the crude rates will keep declining for some more days till the coronavirus outbreak stops paving way for stabilizing markets.20 April 2020