How may petrol & diesel prices in India be affected by Israel-Iran conflict?
Crude oil prices rose 13% intraday within hours after Israel attacked Iran. For India, tensions may rise as disruptions to critical chokepoint Strait of Hormuz, located between Iran and Arabian Peninsula which handles significant portion of crude and LNG trade, may affect oil shipments to India from its largest suppliers. Such disruptions could also affect Indian exports' costs and deliveries.