InvestorQ : I recently heard that petrol prices will increase in India. Is this true? If so, why?
Diya Chitale made post

I recently heard that petrol prices will increase in India. Is this true? If so, why?

Answer
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Anusha Savla answered.
1 year ago


Yes, there is expectation of petrol prices rising.

The reason for this is that US has imposed sanction on import of oil from Iran earlier this month. India, net oil importer consumes a significant portion of its oil from Iran. With significantly lower supply, prices are bound to go up.

The reason petrol prices haven’t risen yet is because the government is trying to avoid any negative development as the Lok Sabha elections are underway.

However, once elections end on May 19, there could be an announcement by the government on higher petrol as well as diesel prices.