Why the Prices of Petrol and Diesel are NOT Falling Much?

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The international prices of Crude Oil are falling fast since last few months in the international market as can be seen in the below graph.


Despite this big drop in the international prices, there is no drastic cut in the prices of Petrol and Diesel in India. Why is this? What is the cause of this price drop in the international market? In my latest economic report I answer these questions.



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