India's Petrol Prices Hinge on Global Crude Oil Rates

India's domestic pump rates are dependent on international prices, as denominated by Indian basket of crude oil. According to Hindustan Times, currently, petrol is retailing at Rs 102.12 a litre in Delhi.

The value of the rupee also has a bearing on domestic fuel prices. A weak rupee increases the landed cost of dollar-denominated crude oil.

Petrol and diesel prices in India are reviewed daily in line with the benchmark international rate of the preceding 15 days.