Recently Indian government hiked the petrol prices (yet again) by 7.50 ($.13) and was met with outrage (read more…) by both opposition, who didn't really care and common public, which was actually affected.
Government was quick to hint (read more...) a reduction of 2.00 ($.03) the announcement of which didn't come as expected (read more…). It was anticipated that falling prices of the crude oil may be able to bring much respite to the average commuter.
I read in one of the troll images that is part of the funny communities on FB that the real reason of the outrage was that the politicians were unable to explain the rationale behind the sudden and steep hike. So I tried some fact finding behind this idea and I did find something interesting. Below is an inspiration from one such troll analysis, however with just an additional iota of research.
Please note that this is just an approximation and petrol prices will vary across cities in India due to different state tax structures. Nevertheless, this is a humble attempt at providing information on the adverse impact of the exchange rate on the common man. Also do not expect the prices to change real time or everyday just because the exchange rate and crude oil price fluctuate so.
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