NLCHAWLA

  DEREGULATION  &   COMPUTATION OF   FUEL PRICES                    All of us are well aware that Petrol Prices in the country were deregulated in 2010 and subsequently decontrol of Diesel Prices was carried out in 2014 so as to end the era of subsidy given to Oil Marketing Companies (OMCs). Therefore, petrol as well as diesel prices became dependent on international market rates of crude oil. In the year 2017, OMCs were permitted to revise fuel rates on daily basis instead of changing them on quarterly basis. It is worth mentioning that the daily price changes for Petrol as well as Diesel are effected at 6.00 am every day. 2.             Apart from purchase price of crude oil from international market, various costs involved in the production of fuels from initial stage to the final stage such as refining and processing of crude oil and freight etc. are added up to work out the Fuel Price after Processing . Thereafter, to determine final price to be borne by the end users/custome