Indian Citizens never got benefit from low crude oil prices but you know who benefited
Mumbai: Today the price of petrol hiked by 40 Paise / Litre and diesel has been increased by 45 Paise.
Fuel retailing in the country is run by state refiners – Indian Oil Corporation (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation.
The three own about 90 per cent of the retail fuel outlets in the country.
Today the price of Petrol in Mumbai is Rs 82.70 and Diesel 72.64, there has been continuous hike in Fuel.
Government core promise at the time of election was to provide fuel at low price but it can be seen when the crude oil in the world has dropped Indians are far from it to get benefit.
Oil prices fell on Wednesday as an industry report showed a rise in crude and fuel inventories in the United States, renewing concerns about oversupply and slumping fuel demand in the world’s largest crude consumer.
Brent crude futures fell 57 cents, or 1.4 per cent, at $40.61 a barrel by 0055 GMT after gaining nearly 1 per cent on Tuesday.
