The pump prices have stayed more or less stagnant for the last few months, including the election period, while the global crude oil prices had shot up. DNA Money had reported on May 6 that there would be a steep petrol price hike after Lok Sabha elections. That prognosis seems to be coming true with petrol prices finally inching up after remaining stable over the past few months. And therefore, rise in crude prices may not necessarily lead to a proportionate increase in pump prices of fuel. According to him, since the exchange rate, which was a major component, has been favourable, the pump prices may be kept in control.

Source: dna May 27, 2019 23:37 UTC