NEW DELHI: Even as the retail fuel prices in India have been unchanged since more than three months, oil price in the international market is soon to touch USD 100 per barrel. In the domestic market, the price of fuel has not been revised for a record 110 days. Many believe the hike is imminent once elections in the five states get over.
As per norms, every one dollar increase in crude prices leads to about an increase of 50 paise-60 paise per litre in retail fuel prices in India. “Any change in the prices of fuels in the international market is definitely going to have a direct or indirect impact on domestic markets,” said Gaurav Moda, India Energy Leader, EY.
