not to increase prices in line with international prices).Their share prices did not recover even after oil minister Dharmendra Pradhan denied any such move. The first round of oil price reform was supposed to happen in April 2004 and the same got derailed because of the NDA government headed by AB Vajpayee. Dilly-dallying like this will only scare away investors.What if the oil prices continue to climb and the reduction in duties is not enough? This can happen if the international crude oil goes back to the previous peaks of $147 hit during July 2008. Even if that happens, government should allow an increase in oil prices.

Source: Economic Times April 13, 2018 05:15 UTC