Shillong: Shillong drivers are still paying Rs 102.60 per litre for petrol. Global oil prices hit a four-month low of USD 70.15 per barrel, but local pumps show no change. Prices sat at Rs 96 just months ago before recent Middle East tensions forced a hike.
Relief is not coming yet. Union Petroleum Minister Hardeep Singh Puri stated that fuel costs will only drop after cheaper crude moves through the supply chain. He explained, "Retail prices in India will come down only after the lower-priced crude currently being purchased reaches Indian refineries and is processed."
The global market is shifting. Easing tensions, increased supply from the US, and weak demand from major economies pushed prices down recently. Consumers must keep waiting.
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