Strait Of Hormuz Reopens: Will Fuel Become Cheaper In India?

The Strait of Hormuz has reopened after a US-Iran understanding, easing crude supply fears. However, petrol and diesel price cuts in India may be limited to Rs 2-4 per litre only if crude stays below $80/barrel sustainably. LPG relief is also uncertain. Lower oil prices help the rupee and markets, but consumer impact will be gradual.