Petrol Price in Mumbai Today

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.

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!

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.

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.

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: