Could petrol prices rise due to tension in the Strait of Hormuz?

Petrol and diesel prices in India may see a significant hike in the coming months, with estimates suggesting an increase of ₹25 to ₹28. According to Kotak Equities, a stock brokerage firm, this rise could occur after elections in five states, driven by global factors.

The report highlights that ongoing geopolitical tensions in West Asia, possible disruptions in the Strait of Hormuz, and rising crude oil prices may push fuel rates higher in India. Experts warn that these combined factors could place additional pressure on domestic fuel prices after the election period.