Crude oil on bouncy wicket: Govt says rising price a matter of anxiety

Crude oil’s climb towards $90 per barrel is a matter of anxiety for India, said Pankaj Jain, secretary, petroleum and natural gas ministry. “Whenever prices go up, it does cause anxiety and concern,” Jain said on Wednesday.

The price of Brent, the international crude benchmark, has increased $15 per barrel in about four months to $89 per barrel. “Does it stop at $90? That’s the matter of anxiety,” he said.