Spectre of inflation looms as oil jumps past $81

Quick Summary:

Global oil prices have surged to over $81 per barrel due to new US shipping sanctions affecting Russian oil shipments, leading to increased demand for Middle-East/US crude and tankers.

This rise in costs is expected to delay fuel price cuts in India, impacting fuel retailers' margins and the economy.

The challenge for India, which meets 85% of its oil demand through imports, will be on the price front — both for crude and tankers —and not supply.

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Article Details

Author / Journalist: Sanjay Dutta

Category: EconomyBusiness

Markets: IndiaChina

Topics: US shipping sanctions Oil prices Russian barrels Inflation Fuel retailers

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-14 @ 20:43:02 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 759 words

Reading Time: 5 minutes read

Sentences: 25 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 25154151

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Official Website: timesofindia.indiatimes.com

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