In case you thought petrol @Rs 100 won't become the new normal just yet, think again

Oil producers' latest move makes for a tough choice for India. Had the production cut been ended, fuel prices in India would have eased without the government needing to cut tax. Most of the local retail prices here is a function of taxes levied by Central and state governments, which they are unwilling to cut.

from Energy-Industry-Economic Times https://ift.tt/3kQ0o3k