Vinod, The petrol rates have not come down yet because the price of petrol is controlled by the Indian govt. (I think they should not control it). If petrol were produced/dsitributed in India by private companies, it would have come down already. Because it is controlled by the govt. they do not want to lower the price (eventhough their raw material cost is lower). If crude oil price is going to increase later on, they would be forced to increase petrol price which would be politically tough. The solution is to privatize this sector, as all sectors. However, the Re is lot stronger than it was 10 years ago. Have you not noticed that flying in India is also a lot cheaper that it used to be 10 years ago?
