why isn't oil price fall passed to consumers?

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why isn't oil price fall passed to consumers?

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In the recent weeks we have seen the price of crude oil dipping to as low as $50 per barrel, which is the lowest since May 2009. This needs to be passed on to the consumers in terms of lower fuel prices, lower air fares, etc. Consumers have hardly seen the benefits of this price drop. The government needs to create regulations for oil companies to slash fuel prices in direct proportion to the fall in crude oil prices.

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