In a recent interview to a television channel, West Bengal Chief Minister Mamata Banerjee said, “These oil companies never reduce prices when international crude prices go down. The problem is they don’t have any other income. Why can’t they do some other business for alternative sources of revenue?” If Ms Banerjee had done her homework she would have known that petrol prices were cut Rs 5 litre each in two successive months following a steep fall in crude oil prices in 2008.
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