India crude basket reaches $131 amid Middle East tensions
Business
India's crude oil basket just jumped to $131 per barrel, the highest since March 2026. This spike comes amid Middle East tensions and supply concerns worldwide.
As Ajit Mishra, SVP, Research at Religare Broking, puts it, these rising prices (and global bond yields) are making markets nervous and pushing up inflation worries.
Fuel prices unchanged despite crude surge
Even with crude costs soaring, fuel prices were unchanged across major cities; in Delhi, petrol is still ₹102.12 per liter and diesel ₹95.20 per liter.
But if high crude prices stick around, oil companies could feel the squeeze, and we might all see higher transport costs and pricier everyday goods as retail inflation already climbed to 4.82% in August 2026.