West Asia tensions push India's crude import price to $100.75
Business
India's crude oil import price just crossed $100 per barrel for the first time in a while, landing at $100.75 on September 7, 2026.
That's almost 12% from last month, thanks to rising tensions in West Asia.
Brent crude is also climbing, hitting $96.3 per barrel.
India's import bill faces $13-14B rise
When oil gets pricier, India's import bill balloons: just a $10 jump can add about $13 billion to $14 billion extra to costs.
Between April and July this year, India spent $63.4 billion on oil imports (up from $40.5 billion last year).
The rupee was also broadly flat W-o-W at 94.5, and fuel companies are losing more money and LPG subsidies are getting heavier.
If these trends stick around, everything from travel to cooking gas could get costlier for everyone.