Brent crude oil reached USD 55.16 per barrel level recently. It is the highest level reached since 2015, and is being attributed to Russia, Kazakhastan and a few other countries. These countries, it is being claimed, have agreed to voluntarily cut their output. If crude oil prices keep rising, for motorists (CV operators especially) in net oil importing countries like India, it may spell the end of party. India has been a big beneficiary of low crude oil prices. With India’s petroleum based imports accounting for 80 per cent of its consumption, the fall in crude prices in the last one and a half year proved to be beneficial for the government in keeping in check the current account deficit. From a high of USD 115 per barrel in June 2014, crude oil prices crashed to under USD 30 per barrel in February 2016. Indian government, without lowering the prices of fuel, kept inflation and current account deficit in check. In-line with the rise in crude oil prices internationally, Indian oil marketing companies have begun hiking the prices of fuels.