Fuel Price: Fuel rates are revised at 06:00 a.m every day. From June 2017, fuel prices in India are revised daily, and this is called the dynamic fuel price method. This makes sure that even a minute’s variation in global oil prices can be transmitted to fuel users and dealers. The Indian government has permitted oil marketing companies to determine the retail price of fuel based on currency exchange rate and fluctuations in international oil prices. Before this fuel prices were revised every fortnight. There are various factors that impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher. Price of fuel includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of petrol gets nearly doubled.