Crude oil above $100 again

23-Apr-2026

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Global crude oil prices rose above $100 per barrel, threatening to increase India's petrol and diesel prices, which have remained unchanged despite rising costs. India imports most crude oil, so sustained high prices strain oil companies absorbing losses now. 

Experts warn if prices stay elevated for weeks, fuel price hikes or government support will be needed. Currently, oil companies' buffers are depleted, with potential for price increases within months if crude prices remain high above $90-$100 per barrel, impacting consumers and policymakers.