US-Iran war, April 25 -- Despite a rise in international crude oil prices, petrol and diesel prices have not risen in India. However, the market is estimating a rise in fuel prices in India once the important state assembly polls, especially in West Bengal and Assam, are over.

However, this delay comes at a cost. Oil marketing companies have been operating under margin pressure, as they have not fully passed on higher crude costs. If international crude oil prices remain elevated, the Government of India (GoI) may increase petrol and diesel prices after these state assembly elections. For a market investor who always discounts an event well before it occurs, upstream refiners tend to benefit as their realisations improve with rising oil ...