Transparent pricing

Petrol pump prices need to be reviewed

India has a complex mechanism to determine the prices of petrol and diesel at the pumps. Indian motorists paid in the range of Rs 90 to Rs 97 a litre for diesel in June 2022, when international rates were at $170 a barrel, and continue paying the same price now when the global rates have halved. The stated policy, however, is that pump prices will reflect fluctuations in international prices. State-run refiners use a combination of the import parity price (IPP) of fuel and the export parity price (EPP) to arrive at an industry price — in the case of