Your fuel should have become cheaper. This is why it didn’t

Consumers could have seen their fuel get cheaper by over Rs 2 per litre, but the reluctance of oil marketing companies to trust the current softening of global oil prices has kept it from happening.

In the last couple of weeks, global crude oil prices have fallen steadily, reaching a level close to $65 a barrel from the high of $77 it had reached early last month. But this has yet to have any impact on petrol and diesel rates in India.