Petrol Price in Mumbai Today

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Today Petrol Rate in Mumbai

Here is everything you need to know about the petrol price in Mumbai today. We have also shed light on the trend of petrol pricing as well as the different factors that determine and impact the cost of petrol in Mumbai.

Today's Petrol Price in Mumbai

₹ 109.96

Current Petrol Price per Litre

The final price of petrol in Mumbai is a combination of several components. This includes the global crude oil price, USD-INR exchange rate freight charges, applicable taxes, cost of refining, the price of transferring oil from the refineries, the dealer’s commission, central excise duty, and the VAT charged by the Maharashtra government.

The cost of crude oil fluctuates due to changes in global reserves, demand and supply, as well as the currency exchange ratio. Hence, the regular fluctuations of the Indian rupee compared to the US dollar influence the price of oil. Oil marketing companies (OMCs) too add several charges throughout the petrol refining process. Lastly, the dealers buy the fuel for sale at retail outlets and add their profit margin along with the central and state taxes. The excise duty levied by the central government is uniform for all the states. However, the state’s are allowed to set their own VAT on petrol.

Luckily, you can continue to save on petroleum purchases irrespective of the fluctuations in global fuel prices. All you need is a credit card! Yes, you heard that right! With the right credit card, you can enjoy a fuel surcharge waiver every time you buy petrol at partner fuel stations in the country. So, go ahead and browse the best credit card options on Bajaj Markets and apply for a credit card for yourself, today!

How Often is the Petrol Price Per Litre in Mumbai Revised?

In Mumbai, the petrol price is revised every day. This is as per the June 2017 policy of Dynamic Fuel Pricing. At 6 am daily, dealers at retail outlets across the city update the current price of petrol in Mumbai post adding all the cost components. Owing to this, the price of petrol today in Mumbai could be different from the petrol price in Mumbai tomorrow. You can check the latest petrol price in Mumbai on the display board at the fuel stations across the city. It is also available online on the websites and apps of the different oil companies.

Impact of GST on Petrol Charges in Mumbai

GST (Goods and Services Tax) was introduced in July 2017 to serve as an all-inclusive tax. However, petrol and fuel products are not included under the ambit of GST and are rather subject to VAT and excise duty.

Methods to Check Daily Petrol Prices in Mumbai

Every day, the petrol price in India is revised at 06 AM in accordance with the Dynamic Fuel Pricing policy. The same is reflected across petrol pumps in the cities as well as the official apps and websites of oil manufacturing companies.

Following are some of the popular websites/apps where you can check daily petrol prices in Mumbai:

Name

Website

Mobile App

Hindustan Petroleum

www.hindustanpetroleum.com

MyHPCL Mini

Bharat Petroleum

www.iocl.com

SmartDrive

Indian Oil

www.iocl.com

Fuel@IOC

Fuel Credit Cards

Bank

Credit Card

Ideal For

State Bank of India

SBI BPCL Credit Card

4.25% value back on fuel purchases at BPCL Petrol Pumps

State Bank of India

SBI BPCL Octane Credit Card

7.25% value back on fuel purchases at BPCL Petrol Pumps

Axis Bank

Axis INDIAN OIL Credit Card

4% value back on fuel purchases at Indian Oil Petrol Pumps

CitiBank

Citi Indian Oil Credit Card

1% fuel surcharge reversal at Indian Oil Petrol Pumps

FAQs on Petrol Price in Mumbai

  • ✔️Who decides the petrol price in Mumbai?

    There are several components that go into deciding the final price of petrol in Mumbai. Along with the global price of crude oil, the currency exchange ratio of Indian Rupee to US dollar, and the charges levied by the oil marketing companies and the dealers, the central and state government taxes also play a crucial role in ascertaining the current petrol rate in Mumbai.

  • ✔️How far can you go on 1-litre of petrol?

    The distance you can cover on one litre of petrol depends on the fuel efficiency of your vehicle. 

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