Every $10 rise in oil prices may push India's oil import bill up by ₹1.28 lakh cr: Report

As oil prices continue to jump amid the Middle East war, analysts estimate that every $10/barrel (₹900) rise in oil prices will increase India's fuel import bill by $13-14 billion (₹1.28 lakh crore). This increase may be higher when factoring in additional freight and insurance costs. Notably, many insurance companies have begun charging about $1,500/container (₹1.4 lakh) as war-risk surcharge.