Petrol rates are fixed on the day, and the price is recalculated every day before 6 Am. This information is transferred to petrol and diesel manufactures at the correct time. So that the transport of diesel doesn't stop. The price of the petrol is the VAT (value added tax) and the commission charged by the dealership. The median price range of Petrol in India is between ₹81-₹89.
Similarly, the pic of diesel is affected just like petrol. The rates of diesel are also redetermined at 6 am on a daily basis. Diesel, too, divides the Vat tax and the commission of the dealership. Because of the vat and the dealer charges, that causes the price of diesel to go up twice. Because of this, the cost of petrol and diesel is rising day by day.
The priced rates also include the conversion amount that is required for interchanging Indian rupees into dollars. This is because to make petrol and diesel crude oil is required. That is purchased for other countries. Hence when the price of the global circle increases the price of diesel and petrol, it gets very high. The average rate of diesel in metro cities of India range from ₹72-₹78.
The price of LPG in India is determined by the import rarity price formula. According to the international price of the LPG gas in the market, the cost of the Indian price is decided. The ipp price of the gas is based on the price of FOB, ocean foresight, insurance of the servicemen. Also, there are many hidden components that are influencing the increase and reduction of the price. Petrol, Diesel and LPG are the most consumed fuels for a crowded country like India. The prices are affecting the economy in the same manner.