Approximately 7 years ago, crude oil price used to constitute two-third of the price of fuel in the retail market. Today, the scenario is slightly different as central and state taxes constitute almost two-thirds of the price of the fuel in the retail market and the remaining one-third includes crude oil price, freight charges, commissions, and other recurring charges. That is to say, the prime reason behind the petrol price hike in India is increasing central and state taxes. Of course, another major reason is the price of crude oil in the international market.