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The basket averaged $120 a barrel in October so far, its highest since March 2012, when it averaged $123.61 a barrel
Krity AmbeyShubhangi MathurSanjeeb Mukherjee New Delhi
7 min read
Last Updated :
Oct 25 2026 | 11:20 PM
IST
The surge in the price of India’s crude oil basket to a nearly 15-year high threatens to squeeze oil marketing companies’ (OMCs’) margins, stoke inflationary concerns and add to the Centre’s fiscal pressures amid mounting fertiliser subsidy costs. The basket averaged around $120 a barrel in October so far, its highest level since March 2012, when it averaged $123.61 a barrel.
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