An Analytical Examination of Consumer Behavior Towards Automated Fuel Pricing and Price Stabilization in India.
Author(s): 1Harsh Joshi, 2 Bhavin Trivedi, 3Ketan Raval
Affiliation: 1,2,3Department of Master of Business Administration 1,2,3SP Jain Institute of Management and Research (SPJIMR), Ahmedabad -India
Page No: 1-9-
Volume issue & Publishing Year: Volume 1 Issue 6, Nov-2024
Journal: International Journal of Modern Engineering and Management | IJMEM
ISSN NO: 3048-8230
DOI:
Abstract:
This study examines consumers’ behavior towards automatic fuel pricing and price smoothing mechanisms implemented in India. Over the past decade, the government of India has introduced several reforms aimed at liberalizing fuel pricing mechanisms. This paper analyzes how these pricing models, including automatic fuel pricing adjustments and price smoothing, influence consumer purchasing behavior. The research presents a quantitative analysis of consumer responses to fuel price fluctuations, assessing the impact of these price changes on consumption patterns, demand elasticity, and purchasing decisions. The results suggest that while price smoothing helps in reducing the volatility of fuel prices, automatic price adjustments lead to varying consumer behavior based on socio-economic factors. The study provides important insights for policymakers, fuel retailers, and economic planners in understanding the consumer perspective of fuel pricing.
Keywords:
Consumer Behavior, Fuel Pricing, Automatic Pricing Mechanism, Price Smoothing, India, Price Elasticity, Purchasing Decisions
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