Why there is increase in Petrol prices in India?

Petrol prices in India are more as compared to the neighboring countries and the developed countries due to the following reasons:

- Taxes constitute 45% of the retail price

- High crude oil prices (Currently at 110 $ per barrel)

- Currently Weak rupee as compared to dollar

- State oil companies running into losses due to large underrecovery compensation in Kerosene, diesel
pending from government.