Oil Falls After US-Iran Ceasefire, But Why Indians May Not See Cheaper Fuel Anytime Soon

A temporary US-Iran ceasefire has triggered a sharp drop in global oil prices, raising hopes of relief for fuel consumers in India. However, despite the fall in crude, petrol and diesel prices may not ease immediately. From taxes and supply chains to continued geopolitical risks around the Strait of Hormuz, here’s why the benefit may take time to reach Indian consumers.