On Petrol Prices

Petrol prices slashed again by less than a rupee. This is a rare event that must be celebrated by vehicular country like India. Note this day because it really makes for a Happy Adults Day. The statistical probability of such events recurring is usually rare - not as rare as Dev Anand movies but as rare as once in four years. Oil majors despite posting monstrous losses have many ways to make money - including petrol-tripping (each pump operator saves about 50 litres per week), rounding off etc. The point I want to make is: You can't assume deflation with such once-in-a-while concessions. Next four years will see crude oil jumping ahead of the curve.