India's crude import price falls to $68.86 per barrel
Business
India's crude oil import price just fell to $68.86 per barrel, the lowest since the West Asia conflict began in February and a huge drop from the $157.04 peak back in March when global supplies were disrupted.
May pump fuel rose over ₹7/liter
Even with cheaper oil, gasoline and diesel prices at the pump have actually gone up, by over ₹7 per liter in May.
State-run oil companies are still trying to recover earlier losses from when prices spiked, and the government is also looking to balance out support it gave during the crisis.
So, for now, don't expect those savings to show up at your local fuel station.