Indian oil marketing companies have not hiked petrol and diesel prices since October 16. During this period, oil prices have either declined or remained unchanged.

There have been enough pointers since the Budget announcements in February to show that the government's finances are perhaps not in a great shape.

The CCI also dismissed complaints that Ola and Uber are imposing a resale price maintenance system on the drivers as well as alleged price discrimination.

Petrol price has been cut by over Rs 4 per litre and diesel by Rs 2.33 in the last 18 days on softer international rates, a pace faster than the spike in prices witnessed in the two-month period beginning mid-August.

The oil explorer burnt cash to buy HPCL, pay large dividend and is now being pushed for a share buyback to help meet the governments disinvestment target. Can increase in crude oil prices rebuild market sentiment?