petroleum pricing in India

The Mechanics of Petroleum Pricing in India

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How petroleum prices are regulated in India depends upon an understanding of how the oil industry works. End-users often correlate crude oil price vis-a-vis price of petrol and wonder at the discrepancies ignoring the intermediate stages between the two. A familiarity with the international measuring unit and the Indian unit is needed to have a better understanding of pricing. The price typically triples by the time crude oil is converted to a finished product for the end-user. After petroleum prices were freed from government control in India, prices of petroleum products were linked to crude oil pricing in international markets. Petroleum prices in India have since moved towards the daily adjustment model followed in several countries in Europe and North America.

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