Analysts warn that a major price hike of petrol, diesel, domestic LPG, and kerosene will majorly affect the people’s ability to spend.
By TRH News Desk
New Delhi, May 12, 2026 — Analysts have begun believing that a major oil shock in terms of significant price hikes is round the corner. They claim that the people in India, for far insulated from the impact of the US-Iran War, may have to brace up for a major shock.
Market veteran Uday Kotak, while speaking at a CII function, was blunt, as he said a “major oil shock is coming.” He argued that the people largely so far had been insulated, but now they will have to soon face up with the reality.
He underlined that while the oil companies have so far cushioned the impact of the rising crude oil, the moment may have come for a significant oil shock for the people.
Darshan Dalal of Al Arabiya English in a video discussion also claimed that the indications from the government signal an imminent major oil price hikes in India. He mentioned the speeches of Prime Minister Narendra Modi to signal that the government appears to be preparing the people for the upcoming oil price hikes.
Union Minister for Petroleum Hardeep Singh Puri on Tuesday said that India has an oil reserve for 60 days. He underlined that there are no supply side concerns.
But analysts are warning that a major price hike of petrol, diesel, domestic LPG, and kerosene will majorly affect the people’s ability to spend. Kotak in his address at the CII said that the people’s budget may be very adversely affected by the upcoming oil shock.
With the US-Iran War, currently in a ceasefire mode, not immediately heading for a resolution, Prime Minister’s upcoming visit to the United Arab Emirates is also being seen within the context of the energy security. The US on Tuesday has resorted to attacking the fast-moving Iranian boats in the Strait of Hormuz.
The peace negotiations, held earlier in Pakistan, are also now off-track. The crude oil has begun spiking. Analysts warn that the government may significantly raise the prices of the petroleum products in the coming days.
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