India's crude oil import cost dips below $60 a barrel

India's crude oil import cost dips below $60 a barrel

Rojgar4u Team January 07, 2026

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India's crude oil import cost dips below $60 a barrel

India's average crude oil import cost fell to $59.29 a barrel on Monday amid a dip in international oil prices. This marked the first time since 2021, when the daily average price of the Indian crude basket dipped below the $60-a-barrel mark. A report by SBI forecasted that crude oil prices would "soften significantly in 2026".

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