At a time when the government is focused on managing the consequences of a deficient monsoon and its impact on food prices, it is likely to face trouble from another front. The price of India’s crude oil basket (COB), according to data from the ministry of petroleum, climbed to $89.8 per barrel on September 4. This is the highest this number has been since November 11, 2022 according to data from the Centre for Monitoring Indian Economy (CMIE).
