ETV Bharat / High Crude Oil Prices May Upset

High Crude Oil Prices May Upset

The international price of Brent crude oil has risen sharply in the last three months, from a low of little over 72 US dollar per barrel in the June end to 95 US dollar per barrel on September 29, an increase of nearly one third in three months. The price of Indian basket of crude oil is largely aligned to Brent crude oil and any movement in the prices of Brent crude basket has a direct bearing on India’s economy, including the retail and wholesale prices in the country, as energy prices play a crucial part in the Reserve Bank’s inflation management policies as high energy prices have cascading effect on other sectors of the economy as well.

High crude oil prices may upset India's inflation arithmetic

Sep 29, 2023

ETV Bharat English Team

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