Oil and trouble: Crude calculations in petrol, diesel prices in India

State-run refiners, which control over four-fifths of India's fuel market, are walking a tightrope again, trying to balance the interests of consumers, govt and their own

What could be more uncertain than Virat Kohli’s agonising wait for a century for over two years? Per­h­aps it’s what you will pay tomorrow morning to fill your vehicle’s tank. Pump prices have joined cricket scores as the country’s favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different.

State-run refiners, which control over four-fifths of India’s fuel market, are yet ag­ain walking a tightrope, trying to balance the interests of consumers, government and their own. They typically perform this balancing act on two occasions — once, aro­und