Updated: February 01, 2023, 05:26 PM IST
livemint
Crude oil prices reached their lowest level when… MoreCrude oil prices, which had hit their lowest levels in 2020 at the time of the outbreak of the Covid pandemic, have since risen steadily as the world has made progress in the fight against the coronavirus. However, following the start of the Russia–Ukraine war in February and supply chain disruptions, oil prices began to rise, reaching $127.98 in March. With the slowdown in the global economy, crude oil prices fell to $76.1 in the first week of December. However, retail customers may have to wait longer for the relief, why? Let us analyze the implications of cheap oil for the Indian economy.