The international oil industry is in one its deepest downturns, with crude oil prices falling more than 70 per cent since June 2014. As on February 3, the price was $35 per barrel, which means petrol prices in India should be about Rs 11.
Yup, you read that right. Yet you’re paying anywhere between Rs 55 and Rs 66 for a litre, depending on where you live. So, what’s ratcheting up your bill?
Here’s the answer.