Global crude oil prices may be easing, but Indian consumers are unlikely to see an immediate reduction in petrol and diesel prices, with Union Minister of State for Petroleum and Natural Gas Suresh Gopi on Thursday saying a drop in international oil prices takes time to translate into relief at the pump.
The minister said fuel prices cannot be reduced immediately when global crude becomes cheaper because several factors influence retail rates, including the time taken for lower-priced crude shipments to reach India.
