Crude Oil Price Today in India

Live Crude Oil Price in India Today — Brent Rate in INR

Crude oil price in India today in rupees — Brent barrel price updated every 5 minutes, converted to INR at live USD/INR rate

India is the world's third-largest oil importer, after China and the United States. The crude oil price in India is derived from the international Brent crude oil price (traded on ICE London) multiplied by the live USD/INR exchange rate. Indian state-owned refiners — Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) — use Brent as the primary reference for their procurement contracts.

How is Crude Oil Price Calculated in India?

Crude oil price in India per barrel in rupees — formula, Brent benchmark, and how Indian refiners calculate import cost

The crude oil price in India in INR is not a fixed government rate — it is calculated dynamically using two live market inputs:

Why Crude Oil Prices Change Daily in India

Why is crude oil price changing today in India — 4 key drivers that move Brent prices and the INR rate

How Crude Oil Price Affects Petrol and Diesel Prices in India

Crude oil price in India and petrol-diesel impact — how IOC, BPCL, HPCL calculate retail fuel prices

India's retail petrol and diesel prices are set by oil marketing companies (OMCs) — primarily Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL). The breakdown of what you pay at the fuel pump in India:

Every $10/barrel rise in Brent sustained for 2–3 months = approx. ₹5–8/litre rise in petrol/diesel (if not offset by tax cuts)

Crude Oil Price Impact on Indian Economy — CAD, Rupee, and Inflation

Why crude oil price today in India matters beyond the petrol pump — macro impact on RBI, CAD, and CPI

⚠️ Forecasts are inherently uncertain. Not financial advice. Consult a certified financial advisor before making investment decisions.

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Frequently Asked Questions

Crude oil price today in India — everything you need to know

What is the crude oil price today in India in rupees (INR)?

The crude oil price in India today is calculated as Brent crude price (USD) multiplied by the live USD/INR exchange rate. For example, if Brent is $78.40/barrel and USD/INR is 83.50, the crude oil price in India is approximately ₹6,546 per barrel. The live INR price is shown at the top of this page, updated every 5 minutes. India does not have a fixed domestic crude price — it floats with international markets.

Why does crude oil price in India keep changing every day?

The crude oil price in India changes daily because it is linked to two live international variables: (1) Brent crude oil price — which moves based on OPEC+ decisions, global demand, US inventory data, and geopolitical events; and (2) the USD/INR exchange rate — which moves based on RBI policy, FII flows, and US Federal Reserve decisions. A weaker Rupee makes crude more expensive in INR even if Brent stays flat in USD.

How does crude oil price affect petrol price in India?

Crude oil accounts for approximately 40–45% of India's retail petrol price. The rest includes refining margin (~8–10%), central excise duty (~20–25%), state VAT (~15–25%), and dealer commission (~3%). When Brent crude rises by $10/barrel for a sustained 2–3 months, petrol and diesel prices in India typically increase by ₹5–8 per litre. However, the government can offset this by cutting excise duty — as it has done multiple times.

Which benchmark does India use — WTI or Brent?

India primarily uses Brent Crude as its international reference benchmark. Indian refiners (IOC, BPCL, HPCL) also reference Dubai/Oman crude for pricing Gulf country imports, since 60%+ of India's crude comes from Saudi Arabia, Iraq, UAE, and Kuwait. WTI (the US benchmark) is less relevant for Indian oil pricing because India imports negligible amounts of US crude. The "crude oil price in India" shown on this page uses Brent as the reference.

What is the crude oil price forecast for India in 2025–2026?

Most global analysts (EIA, IEA, Goldman Sachs, JP Morgan) expect Brent crude to trade in the $70–85 range in 2025–2026. For India, this translates to a crude oil price of approximately ₹5,800–7,100 per barrel (depending on the USD/INR rate). Key risks for India: a Rupee depreciation scenario could push the INR price higher even if Brent stays flat. Key benefit scenario: continued discounted Russian crude imports through 2025–26.

Does India buy Russian crude oil at a discount?

Yes. After Western sanctions on Russia following the 2022 Ukraine invasion, India significantly increased its purchase of Russian Urals crude at a substantial discount — reportedly $10–20/barrel below Brent at peak. By 2023–24, Russia became India's largest crude oil supplier, surpassing Saudi Arabia and Iraq. This has helped India lower its average crude import cost, partly cushioning the impact of elevated global Brent prices. However, Russian crude imports depend on ongoing geopolitical and payment mechanism developments.

How does crude oil price impact India's Current Account Deficit (CAD)?

India's crude oil import bill is the single largest component of its trade deficit. Every $10/barrel rise in Brent crude sustained over a year adds approximately ₹85,000–90,000 crore to India's annual oil import bill, widening the Current Account Deficit (CAD). A higher CAD puts pressure on the Indian Rupee (INR) — which in turn makes crude even more expensive in rupees, creating a vicious cycle. RBI actively monitors crude oil prices as a key input for its monetary policy decisions.

Crude Oil Price in Other Countries Today

Compare live crude oil prices across major global markets