Devyani

National Crude Fell Below $80. So Why Is Petrol Still The Same?

Crude Fell Below $80. So Why Is Petrol Still The Same?

Global crude has cooled, the rupee has gained, and yet petrol pumps look stubbornly unchanged. There is a reason, and it is not just “oil companies forgot. Crude oil slipping below $80 a barrel sounds like the kind of news that should make motorists smile at the petrol pump. Fair thought. After all, India buys most of its crude from abroad, so cheaper oil should, in theory, soften fuel prices here. But on June 17, petrol and diesel prices in India stayed broadly unchanged. Delhi’s petrol price, for instance, has been around ₹102.12 a litre, while diesel has hovered near ₹95.20. In several other cities, petrol is still well above ₹100. So yes, crude moved. Your pump bill did not. Annoying? A bit. Surprising? Not really. Why The Fall Does Not Show Up Instantly Fuel pricing in India is not a clean mirror of global crude. It is more like ...

Devyani
  • 2 days ago
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