 "A sharp fall in global crude benchmarks will reduce costs of fuel, both oil and gas, to Indian consumers if State-run oil companies choose to pass them on")
A sharp fall in global crude benchmarks will reduce costs of fuel, both oil and gas, to Indian consumers if State-run oil companies choose to pass them on. Alternatively, it will help Indian Oil, Bharat Petroleum and Hindustan Petroleum boost profitability at the pump even as the margins from processing crude into fuels decline.
The plunge in crude oil levels to near three-year lows this week at $70/bbl, a $20/bbl decline in five months, will also come as a relief to a government which is boosting spending on welfare and infrastructure.
“Low oil prices can help lift the
