Indian refiners unlikely to pass on gains from oil price fall

A 30% decline in oil prices since early June has brought relief to refiners, which had sold fuels at a loss to domestic customers for months, but is unlikely to lower consumer prices, said analysts and executives. Crude oil prices have fallen to $86 a barrel, from $124 on June 8, as fear of a recession in the developed world is swaying investors amid interest rate tightening by central banks.