Business Standard

High crude oil prices a cause for concern, India's oil secretary says

As a consuming nation any increase in prices will cause concern and anxiety, Jain said at an industry event, referring to the "geopolitical premium" in crude prices

Crude, Crude oil

Photo: Bloomberg

Reuters New Delhi

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Rising crude oil prices are a cause for concern for the world's third-largest importer of the commodity, India's oil secretary Pankaj Jain said on Wednesday.
As a consuming nation any increase in prices will cause concern and anxiety, Jain said at an industry event, referring to the "geopolitical premium" in crude prices.
If oil prices continue to stay higher for a month longer, oil marketing companies will take an appropriate decision, the secretary said, when asked if there is a case for increasing retail fuel prices.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Apr 03 2024 | 2:00 PM IST

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