The relationship between crude oil prices and petrol prices at the pump can be complex and influenced by various factors beyond just the price of crude oil. Here are several reasons why petrol prices may not decrease proportionately when oil prices fall: Refining Costs and Margins: Crude oil needs to be refined into petrol and other petroleum products before it reaches consumers. Refining costs, which include processing, distribution, and refining margins (profit for refineries), can remain relatively stable or fluctuate …

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