If you want to understand fuel prices in India, you’ve come to the right place. In this post, we’ll cover everything you need to know about fuel prices in India. So, let’s get started. In India, the retail price of fuel is determined by the government. However, the government does not directly set the price of fuel. Instead, it sets a maximum retail price (MRP). This is the maximum price that can be charged for a product.
The difference between the MRP and the actual selling price is known as the ‘mark-up’. The mark-up is determined by oil companies and is based on a number of factors, such as production cost and profit margins. Fuel prices in India are set by the Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL). These companies are known as Public Sector Undertakings (PSUs). The PSUs are owned by the government, but they are run as commercial enterprises.
Fuel prices in India are determined by a number of factors. These include international crude oil prices, exchange rates, and taxes. In recent years, international crude oil prices have been on the rise. This has resulted in higher fuel prices in India as well. In addition to these factors, fuel prices in India are also affected by local factors such as state taxes and levies. These taxes are collected by state governments and used for various purposes such as road maintenance and development. There are three major fuel types sold in India: petrol, diesel, and liquefied petroleum gas (LPG). Petrol is used in cars and motorcycles. Diesel is used in trucks and buses. LPG is used for cooking purposes in households.
Average Fuel Prices In India
The average retail price of petrol in India was Rs 76.10 per liter in June 2018. This was an increase of Rs 1.15 per liter from the previous month. Diesel was priced at Rs 65.14 per liter on average during this period – an increase of Rs 0.93 per liter from May 2018. LPG was priced at Rs 527 per cylinder on average during this period – an increase of Rs 4 per cylinder from May 2018.
People should be more cautious when it comes to prices and charges in light of all these developments, but they should also be aware of them. Use the Fuel Prices in India API as a result of this. The use of this API for Indian Fuel Prices provides a number of benefits. First off, you can just check the API beforehand and be aware rather than driving directly to the petrol station and being surprised by price changes. For each Indian city, this API provides the latest prices for gasoline and diesel. You will get the most recent prices every time they modify or change in any way.
Fuel Prices in India API
Get the latest price of petrol and diesel in any city In India. Fuel prices get revised at 6 am every day. After signing up, every developer is assigned a personal API access key, a unique combination of letters and digits provided to access this API´s endpoint. To authenticate with the Fuel Prices in India API REST API, simply include your bearer token in the Authorization header.
Receive a JSON list with all the supported cities by this API. Also, you will receive the city ID that you will need to make your queries. This all cities petrol price in India API is ideal for those courier companies that want to have the fuel information of every city that they cover. This could help them to estimate how much they would spend in fuel in every city.
Build your product and compare different prices for different states, and recommend to your users the best fuel prices for them.
