Quote from: TimeTeller on Today at 08:22:42 PM

Quote from: laredo7mm on Today at 03:07:02 PM

Hmm, India is buying oil at a discount rate but they are selling those oil by refining to European countries when oil price in their own country is skyrocketing. When people are suffering because of these price hikes then govt is making a hell lot of money.

They can not reduce oil prices in their country when they are already buying it at a discount rate then how OPEC countries increased oil supply will decrease the oil price?

I recently read a thread also pertaining to this situation, India buying at a discount rate from Russia.
And selling it at a very good price in EU after refining it. A very smart move from this country.
With this advantage, they can lower their oil price because they are getting it cheaper because of this war situation.
At least help their countrymen on this aspect. It is understandable if other countries are increasing their fuel prices.
But if India is buying it at a discounted price, why not share this benefit to its people?

Just like you said, they are selling it on a good price to EU so why they will sell it at a discounted price to their own people while they can have more money if they will sell it abroad? This is how money talks and most probably, sadly those companies are preferred to earn more money. Anyway, India is not the only country who are experiencing high cost of food and petroleum, it looks like this is the problem of many countries as of the moment.