Even as global crude oil prices continue to surge, India’s oil marketing companies (OMCs) have so far avoided passing the burden onto consumers. But this restraint is coming at a steep cost. Current estimates suggest losses of around ₹18 per litre on petrol and ₹35 per litre on diesel — a situation that may not be sustainable for long. Now, a big warning has come from Kotak Equities, which has triggered fresh concerns across markets.
According to its assessment, once the ongoing assembly election polling concludes — likely after April 29 — the government could allow a sudden overnight revision in fuel prices. Similar patterns have been seen in the past, where prices were held steady during elections and sharply increased afterward
The rising crude oil prices are already pushing India’s import bill higher by an estimated $190–210 million per day. This is putting serious pressure on the economy, with inflation risks mounting steadily. At present, petrol prices stand at around ₹94.77 per litre in Delhi and ₹103.54 per litre in Mumbai.
If these projections hold true, fuel prices across the country could hit record highs. That would directly increase transportation costs and trigger a ripple effect on essential commodities, making daily life more expensive for ordinary citizens.
Bottom line: Is a post-election fuel bomb about to explode, or will the government step in again? The coming days could decide the economic mood of the nation.
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