However, Vinay Jaising of JM Financial Services believes there's more to this cut in LPG prices than sheer politics. "If you look at it over a year, oil prices have actually moved down from $100 per barrel to $80 per barrel. And we are consuming about 50 percent of our net imports from Russia, which is probably at $70-75. So I think the OMCs are or have made in the last quarter or two disproportionate amount of marketing margins," he said in a conversation with CNBC-TV18. "I will not be surprised if they cut petrol and diesel prices, as far as the excise duty is concerned as well. I don't think this is to be linked to politics," he added.