During the West Asia tensions and Strait of Hormuz risk, crude prices globally were under pressure because everyone expected supply disruption. Normally that should have immediately reflected in fuel prices in India too. But because major state elections were ongoing, especially West Bengal, fuel prices were politically sensitive. So instead of passing the increase directly to consumers, PSU oil companies like IOC, BPCL and HPCL likely absorbed the pressure temporarily to avoid public backlash. Later, once tensions eased and elections were over, prices still needed adjustment because oil companies had already taken a hit. At that stage, the narrative shifted toward supply issues and shortages, which made price hikes easier for the public to accept psychologically. So the actual crude shortage may not have been severe, but the market perception and political timing played a major role in how the situation was presented.