Why aren’t petrol prices rising in India despite global crude surge?

According to Madan Sabnavis, chief economist at Bank of Baroda, “In the interest of social stability and to shield the common citizen from sudden inflationary shocks, domestic oil marketing companies often maintain steady product prices even as global crude costs climb. This vital buffer remains in place until international benchmarks reach more critical thresholds, typically above the $100 per barrel mark over a longer period of time, say 2 to 3 months.”