What are the factors that influence the price of petrol?

Crude oil price is the most significant aspect that impacts the price of petrol.

Why is the price of petrol in India different from other countries?

Factors cause the variation in prices Existing reserves, Currency exchange rates, Taxation policy, Government subsidies, Market speculation dealing or oil futures etc.

What determines the retail price of petrol?

Cost of Crude oil, Profit margins of oil marketing company and dealers’ commission, Transportation and freight costs, Excise duty imposed by the central government, VAT.

What is the frequency of change in petrol prices in India?

Petrol prices in India change on a daily basis at 6:00 AM.

Is India ‘Atmanirbhar’ for its fuel supply?

No, India is dependent on imports for a large share of petrol supply in the country.

Does India export fuel to other countries?

Although India imports large quantities of crude oil to meet its domestic needs, with a large refining base India has started exporting fuel oil too.

How much crude oil does India refine?

As per the Petroleum Planning and Analysis Cell (PPAC) of India there are 26 oil refineries in the country out of which 20 are public sector undertakings.

Why is petrol being doped with ethanol?

Ethanol is one of the principal biofuels, which is naturally produced by the fermentation of sugars by yeasts or via petrochemical processes such as ethylene hydration.

What is windfall tax and why is it imposed on petroleum?

In simple terms, windfall tax is a tax on those profits of a company which have been derived from the factors that have not been propelled by the company.

Why do petrol and diesel not follow the GST regime?

Bringing domestic fuels under the GST would effectively mean reducing taxes on them. The highest tax slab under the GST is 28%, while petrol and diesel are taxed at more than 100% as of now.