Oil price fixation in india
In Asian trade in Friday, oil prices stayed elevated, with Brent crude at $71.04, and U.S. crude at $63.86. The most significant near-term risks to India's inflation outlook stem from a potential Fuel prices in India are revised on a daily basis under the ‘Dynamic Fuel Pricing’ mechanism, where State-run oil companies such as Indian Oil, Hindustan Petroleum and Bharat Petroleum include the previous day’s crude oil rate and the currency exchange value to the Retail Selling Price (RSP) of petrol and diesel.