# India’s Oil Buyers Squeezed by $123 Crude and Weak Rupee

- Source: OilPrice.com
- Published: 2026-10-27T07:30:00+00:00
- Category: Markets
- Original: https://oilprice.com/Latest-Energy-News/World-News/Indias-Oil-Buyers-Squeezed-by-123-Crude-and-Weak-Rupee.html
- Canonical: https://groundlevelnews.com/story/india-s-oil-buyers-squeezed-by-123-crude-and-weak-rupee-bd7c75/

The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.S. dollars, a weaker Indian currency swells the bill further. The combination of a war premium on in

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