Before 2010 petrol prices in India were regulated by the government. They would revise the price every week depending on how much it costs to import the fuel, the cost of transportation and taxes. On occasions when prices skyrocketed they would simply bear the loss themselves without burdening consumers. In 2022 Russia's invasion of Ukraine choked fuel supplies and drove global prices higher. Even though prices were market determined the government asked state-owned fuel retailers like Bharat Petroleum or Indian oil to freeze fuel prices. It was an indirect fuel subsidy. Likewise India also subsidizes fertilizers so farmers can bear the cost of crop production. And like us many other countries subsidize commodities. Now if you were to put all these