Crude oil prices have been soaring, and it has doubled in a year to $85 a barrel it could put spokes in the post-Covid surge in economic activity. India as a large crude oil importer, and one dependent on imported crude would be one of the economies that is struggling to limit the impact of high global oil prices. As an importer we have limited option, yet there are efforts underway to negotiate a better deal, and also to find alternatives like bio fuel mix and increasing use of gas in the energy mix.
