Iran–Israel Tensions Push Up Cooking Oil Prices

Rising tensions between Iran and Israel have begun to affect local markets. Cooking oil prices are increasing, and panic buying has been reported at supermarkets and grocery stores in the city.

In recent days, many residents rushed to shopping malls and kirana stores to buy cooking oils in bulk. The rush followed fears that the conflict could disrupt global supplies. Several consumers are trying to buy oil at the old maximum retail price (MRP) before new price hikes take effect.

The spike in demand has increased sales and reduced stocks in many retail outlets.

Retail traders say prices have already begun to rise. Refined sunflower oil sold for about Rs 150 per kg on February 26. By Saturday, the price had climbed to nearly Rs 170 per kg in the retail market. Palm oil prices have also increased by about Rs 15 to Rs 20 per kg, according to local wholesalers.

India imports a large share of its crude edible oils. Local refineries process the oil before it reaches consumers. Traders say tensions in global markets are affecting supply and pushing up domestic prices.

“Demand has increased over the last few days. Many customers are buying multiple tins to avoid paying higher prices later,” said Kurma Naidu, a wholesale oil trader in the city.

Some retailers said customers are asking for oil packets that still carry the old MRP. Many believe prices will rise further if the conflict continues.

Market observers say the situation is similar to the spike during the Russia–Ukraine war. At that time, edible oil prices rose sharply before stabilising months later.

Experts warn that a prolonged conflict in West Asia may disrupt supplies. Higher transport costs may also push cooking oil prices up in the coming months. This could add pressure on household budgets.

Officials have urged people not to resort to panic buying. They say supply chains remain stable for now, though markets continue to react to global developments.