12-March-2026
Economy News
 
India may face $7–8 billion higher monthly import bill as crude surges
11-Mar-2026

India could face an additional foreign currency outflow of USD 7-8 billion per month due to the surge in international energy prices, following the conflict in West Asia, raising concerns over inflation and the current account deficit, analysts said. While crude oil prices have risen from USD 66 per barrel, before the US and Israel attacked Iran and Tehran retaliated, to around USD 120, liquefied natural gas (LNG) rates have more than doubled to USD 24-25 per million British thermal unit.

News Source:- https://economictimes.indiatimes.com/news/economy/indicators/india-may-face-78-billion-higher-monthly-import-bill-as-crude-surges/articleshow/129342655.cms