16-July-2026
Economy News
 
Indian crude basket jumps $8 in 10 days; fuel price cuts off table
15-Jul-2026

Crude import costs are rising again, with the Indian basket jumping $8.07 a barrel in ten days, from $68.21 on July 3 to $76.28 on July 13. This could put expected fuel-price cuts on hold and revive pressure on the import bill, oil marketing companies, airlines and fertiliser producers. Every $10-a-barrel increase translates into roughly $42 million a day in additional crude import costs for India, according to Pankaj Srivastava of Rystad Energy. He said pressure on OMC marketing recoveries would build gradually as near-term procurement is largely secured.

News Source:- https://www.financialexpress.com/business/news/indian-crude-basket-jumps-8-in-10-days-fuel-price-cuts-off-table/4291423/?ref=economy_hp