(March 2): India’s growth is at risk from the crisis in the Middle East if the conflict endures and disrupts oil supplies from the region that meet a large share of demand in the world’s third-largest oil consumer, economists said. The surge in oil prices after the attacks won’t be immediately reflected in retail prices as India’s oil marketing companies have sufficient margins to absorb such sharp spikes, said Gaura Sengupta, an economist at IDFC First Bank Ltd. “Retail fuel prices have not changed for years, both when crude prices were low and when they were high. “I don’t think oil prices will sustain at these levels, though,” she said. India’s crude basket, a mix of different grades, is generally cheaper than Brent by a little over US$1.

Source: The Edge Markets March 02, 2026 11:01 UTC