Petrol, diesel prices in India higher than most countries because government taxes are extortionist in nature.
Prices of petrol and diesel are decided by the petroleum companies and the government’s role is restricted to levying taxes. Indeed, Petroleum pricing is a complex process. It involves various aspects of value addition that ultimately decide the final price of petrol and diesel.The government deregulated petrol price in 2010 and diesel price in 2014. It, henceforth, allowed oil marketing companies to decide on the prices of fuel, considering the change in international oil prices and currency exchange rate.
Petrol, diesel prices to change daily, see, how will it comes to you finally:
*Delhi as of June 2017 as an example
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