India crude import price jumps to $131.19 per barrel
Business
India's crude oil import price shot up to $131.19 per barrel on September 15, the highest since March 23, 2026.
This jump is tied to impending tariff threats from the US and a Saudi pipeline shutdown, sparking worries about oil shortages, right when India's demand is picking up ahead of the October-December marriage and festival season and industry.
September $111.71 average raises import bills
With oil prices averaging $111.71 per barrel in September (up almost 24% from August), India faces steeper import bills and rising inflation.
Experts warn that global supply issues, trade route risks, and tariff threats could make things even trickier as the country heads into its busiest energy months.