Petrol, Diesel price in Mumbai

Rising fuel prices burn a hole in every citizen's pocket, especially if you happen to be a middle-class salaried employee. There are many people who argue that the central government ought to reduce fuel prices and provide relief to people. But do you know, the government doesn't decide the rates directly. For instance, today Diesel price in Mumbai is ₹94.27 per litre, and the Today Petrol price in Mumbai is INR 106.31 per litre. Large population in the city also leads to highere number of CNG cars, CNG being much cheaper than other fuels, One should keep in check CNG price in Mumbai.

Diesel Price in Mumbai

Today's Diesel price in Mumbai is INR 94.27 per litre. Mumbai has seen roughly similar fuel prices over the past few days. The most expensive diesel in Mumbai in recent days was 94.27. Since diesel is less expensive and is up to 40% more efficient than a petrol engine with the same output, it is generally considered as a better fuel than petrol. Additionally, it has been discovered that diesel is denser than gasoline and also has around 15% more energy in volume.

CNG price in Mumbai

Today's CNG price in Mumbai is INR 80 per kg. There have been several hikes in CNG price in Mumbai. People owning a CNG vehicle in Mumbai should keep CNG price in Mumbai in check before travelling. large number of cabs in mumbai leads to more and more CNG consumption.

How to monitor petrol and diesel price in Mumbai?

If you live in Mumbai and wish to know the petrol, and diesel price in Mumbai, the easiest way to find out is to download and install the Park+ app on your mobile. Once you download, you can enter the city, and the current day's rates will be displayed, along with the change from the previous day.

The rates you pay at the petrol pump are linked to various factors -

• International crude rates
  • This is the most important factor determining the petrol and diesel price in Mumbai today. India depends on external supplies to fulfil almost 80% of its demand. Oil-producing nations can raise the production of crude, which in turn reduces the rate, and vice-versa. These nations have a cartel and look after their own interests, naturally. Besides this, international political stability, threats of war, and disruption in logistics play a major role in their decision to increase or decrease production.
• Dollar-rupee conversion
  • This is the second most important factor in determining today's petrol price in Navi Mumbai. OMCs in India have to purchase crude oil in dollars, but they sell it in rupees. High crude oil rates combined with a weak rupee against the dollar is when you will feel the pinch.
• Tax rates
  • The central government levies a flat rate called excise duty, and less on each litre. Each state government, in turn, adds tax as a percent of each litre.
• Supply and demand
  • Usually, OMCs maintain an inventory of up to 6 weeks. This helps them to maintain a balance and control prices whenever there is a large fluctuation in international rates and a reduction in local demand.
• Logistics
  • When fuel is transported to cities and towns further from the depot, the rates tend to be higher.

Who decides the final petrol and diesel price in Mumbai today?

Since mid-2017, the government has introduced the dynamic pricing mechanism for fuel pricing. This means that daily fluctuations in international rates will reflect in the rates at the petrol station. Earlier, Oil Marketing Companies used to determine the retail rates every fortnight. So there were significant differences in rates, which were easily visible. In the new system, you didn't feel the pinch as the rates increased only by a few paise.

How is today's Diesel price in Mumbai decided?

If you pay 94.27 for a litre of petrol, the break-up of the final today petrol price in Mumbai is -

• Price charged to the dealer - Rs.57.65
• Excise duty(by central government) - Rs. 19.90
• Dealer's commission per litre - Rs.3.8

• VAT(by the state government) - Rs. 30

Conclusion

Nowadays, with fuel prices fluctuating, it helps to know how the prices are monitored and decided. Check out the Park+ site to know more about the Diesel prices in Mumbai and to keep track of their increase or decrease. Park+ will help you keep track of petrol and diesel price in Mumbai today.