Says the price fixation is in the legislative domain as It requires some expertise. The Supreme Court has rejected a petition to fix the price of petroleum products.
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/sc-admits-fixing-petrol-prices-govt-prerogative
[2] http://admin.indiaenvironmentportal.org.in/category/newspaper/economic-times-new-delhi
[3] http://admin.indiaenvironmentportal.org.in/category/thesaurus/petrol
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/energy
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/supreme-court
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/fuel-pricing
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/public-interest-litigation-pil
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/imports