The base cost of petrol is set by global crude oil prices and the rupee-dollar exchange rate, as India imports over 80% of the crude it consumes. By that stage, the price already includes the cost of crude, freight, import charges, refining, inland transport, and the marketing margins of the oil companies. The crude may be global, the refining system may be national, and the pricing mechanism may be updated daily, but the final bill is still heavily shaped by the state.
Author: Michael Kern
Published at: 2026-03-24 23:00:00
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