Oil on a high, Govt goes dry; Article written by Dr VP Singh

Dealing with high oil prices is a complex affair as it involves geo - politics & exchange rates variations also, which further impacts almost all aspects of economy. Diesel price, in Gurgaon, breached Rs 70 barrier. I could see the discomfort in Bablu’s expression – our cab driver. He had negotiated his deal about providing cab service to the institute, considering diesel price would remain below Rs 67. He wanted t o understand why the price is rising and why isn’t government doing anything about it? I wonder how do I explain this to him? T he reasoning is more complex than the widely quoted reasons like.

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