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Indian government stops consumers benefiting from cheap oil

New Delhi has not passed on reductions in crude price but in fact raised taxes

| India
Taxes on petrol and diesel in India account for around 69% of the retail price, the highest in the world.   © Hindustan Times/Getty Images

Vandana Hari is founder of Singapore-based Vanda Insights, which tracks energy markets.

Indian consumers may recently have noticed a paradox: in mid-June, retail petrol and diesel prices surpassed levels at the start of the year, even though the coronavirus has routed oil prices and is still keeping them low. Why was this?

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