Petrol Prices in Mumbai Today (Image: ANI, file photo)
Commuters in Mumbai can breathe a sigh of relief as petrol prices there today are unchanged. At Rs 103.50–Rs 103.54 per litre on 26th March, petrol in Mumbai has seen no change from its previous pricing despite fluctuations in the global crude oil market. In Mumbai, diesel sold for around Rs 90.03 per litre.
Currently, the global oil market is experiencing volatility due to increasing tensions in the Middle East, and many expected that this would lead to an increase in fuel prices in India; however, for now, the price of petrol at Mumbai pumps has not increased and consumers will continue to pay the same price they did yesterday.
On 25th March fuel prices in all major Indian cities including Delhi, Kolkata, and Chennai also remain unchanged. Meanwhile, the Brent Crude oil barrel price has fallen approximately 6% to $98.30, showing that global changes do not always immediately directly affect retail price increases in petrol fuel in India.
The price of fuel is determined by the system of pricing for petrol and diesel in India. The cost of these fuels is affected by various elements such as the price of crude oil internationally, taxes placed by both central (Federal Government) and state (Provincial Government) authorities, distribution charges, and commission to the dealer selling the fuel. Although international prices change on a daily basis, the companies that sell fuel do not pass on all changes in price to their customers.
Recently, there have been some changes to the price of petrol and diesel, although these were mostly for premium products. For instance, the price of premium petrol increased by approximately Rs 2/litre for the first time in four years as a result of rising prices of crude oil in international markets due to geopolitical instability in West Asia. Regular petrol and diesel which is what most people use, have seen no changes in cost at this time.
On the 2nd of May 2022, Mumbai also experienced panic buying at petrol stations due to long lines at various locations around the city. However, city officials later stated that there was no fuel shortage, and supply was good. There were only temporary issues at some petrol stations and city officials asked everyone not to panic.
Khalid Qasid is a media enthusiast with a strong interest in documentary filmmaking. He holds a Master’s degree in Convergent Journalism from AJK MCRC. He has also written extensively on esports at Sportsdunia. Currently, he covers world and general news at NewsX Digital.
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