Locator: 46551INDIA.
Now that John Kerry is stepping down, apparently the Indians feel it's safe to start dropping the price of gasoline.
1,700 rupees = $20 USD.
A ton of crude oil: 7.5 bbls.
$20 / 7.5 bbls = $2.70 / bbl. Okay.
It was 2,300 rupees = $28 USD = 28 / 7.5 = $3.75.
Recently reported: Saudi Arabia also cutting price of their oil being sold to India.
Apparently India is passing the savings on to their citizens.
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