Significant fluctuations in price seen since deregulation of petrol pricing

The Indian government took its first bold step in petroleum reforms on June 25, 2010, when it changed the fuel subsidy program by altering retail pricing of petrol by linking it to market rates.
Since petrol prices were decontrolled, they have been increased 22 times and reduced on 14 occasions. Prices have been revised 14 times so far since January 2013, compared with a total of nine times in all of 2012.
The three public sector oil retailers, Indian Oil Corp. Ltd., Bharat Petroleum Corp. Ltd., and Hindustan Petroleum Corp. Ltd., usually revise fuel prices in tandem.
The retail price of petrol varies from state to state due to state levies.
(August 2, 2013)