Why Isn't The Govt Cutting Petrol & Diesel Prices Despite Price Cuts Globally ?

Government fuel price decisions are constrained by fiscal considerations, as demonstrated by India's petroleum policy where the government has borne a fiscal cost of 1.23 lakh crores to protect consumers from global energy shocks, with analysts indicating that fuel price cuts are unlikely until the revenue foregone from excise duty reductions is recovered and a fiscal surplus is achieved, though political factors like approaching state elections may influence timing.