West Asia crude exports top 90% of pre-conflict levels, Fuel costs may stay high

Middle East crude flows excluding Iran are back above 90 per cent of pre-war levels.
• But shipping costs are about eight times higher. Freight is now over 25 per cent of the landed cost of crude.
Indian fuel retailers are losing an estimated Rs 28 a litre on petrol and Rs 34 on diesel.
Procurement costs are equivalent to crude at $120 a barrel. Margins may stay high through FY27.

Get 100 stories a day on the app Read, watch & listen · Free on iOS & Android

Newer