“Fuel Prices Set to Rise After Elections as Global Crude Remains High”

Petrol and Diesel Prices Likely to Surge After Elections Petrol and diesel prices in India may witness a sharp increase soon after the ongoing Assembly elections conclude, with analysts estimating a hike of around ₹25–28 per litre. The expected rise is primarily linked to the sustained surge in global crude oil prices, which have remained high due to geopolitical tensions in West Asia and disruptions in key supply routes like the Strait of Hormuz. Despite rising international costs, domestic fuel prices have remained unchanged in recent weeks, largely due to the election period. However, this freeze has put significant financial pressure on oil marketing companies, which are reportedly incurring losses of nearly ₹270 billion every month. Experts suggest that once the elections end around April 29, fuel prices may be revised upward to align with global rates. While a full increase may not happen immediately, a gradual hike is likely to manage inflation and reduce the burden on refiners, potentially impacting transportation and overall cost of living.