Oil on the Boil

Petrol and diesel prices across the country were raised for the ninth consecutive day today with Oil Marketing Companies passing on the increase in international fuel prices to the consumers. This follows the 19-day price freeze initiated by OMCs before the Karnataka polls. Oil Minister Dharmendra Pradhan had on Monday attributed the fuel price hike to production cuts initiated by Organization of Petroleum Exporting Countries and told the media that the government is working on a solution to provide respite to consumers. On this edition of ‘The Big Picture’ we discuss what is causing the oil prices to surge, and how do we brace for it.

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