October 12, 2008
Gas price drop: Closing in on $3 CNN - OCT 12,2008.
The gas prices here in US has come down significantly in the past couple of months. The cost of gas/gallon averaged at $ 4.70 during july/august 2008 .Currently , the prices average around $3.25 here in Los Angeles area.
Here is my question :-
Why is that the gas/petrol price is always on an upward scale in India whereas the prices are decreasing in this part of the world ?
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3 comments:
Two reasons:
1. The pricing of petroleum products in India is not as transparent as it is in the US. In India it includes surcharges for the oil co.s and central and state taxes (and nobody knows what the split is).
2. Gas prices are still in USD, so when India oil companies purchase it they need to contend with the $-Rs. exchange rate. It seems the weak Re. is more than compensating for the global drop in oil prices.
i have the same question for long, when our neighbor pak sell fuel in low cost why not we?
California requires reformulated fuel which costs boatloads more than the rest of the USA. PS- North east cheapo over the weekend was $2.72 gal USD
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