September 21, 2017

Indian Petrol and Diesel near recent highs while International Crude 50% off the highs

Crude has corrected from 130 USD and now is stable at 55 USD.

But our petrol and prices are back to 2015 highs... so the benefit of falling crude prices has not gone to the Indian consumer at all. Whatever benefits were there were taken away by means of increased taxes.

So Indians fooled over once again hence no one is complaining.

Benefit is going only to the refineries and the government.

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