Wonder why petrol prices are rising, when crude oil prices are downStrange though it may seem, over the few weeks, the petrol and diesel prices in our country have risen steeply. That too at a time when, world over the demand for oil is less due to shutdowns and the crude oil prices are falling to their historic lows. As on today it is around 42 USD a barrel for Brent Crude, a far cry from the 67 USD it was in December 2019. Recently our oil minister stated that the prices of fuel is rising in India because of the coronavirus. But wonder, with crude oil prices falling, why the petrol price in the country should rise. Thanks to measures to fight the virus, our movements are restricted and we don't use our cars and bikes as often. Otherwise, the impact would have been considerably more.
Meanwhile, any explanation friends, why the prices are soaring?
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