New Delhi, June 6 -- At the start of the US-Iran war, crude oil prices spiked above $100 a barrel. Since then, depending on the news flow, prices have risen above and dipped below $100/barrel. However, for most of the duration since the war started, the crude oil prices have stayed above $100/barrel. In this article, we will understand how the high crude oil prices can impact your monthly budget.

During the initial phase of the US-Iran war, even though crude oil prices spiked above $100/barrel, the Indian oil marketing companies (OMCs) did not hike domestic prices of fuel. It seemed the war would be over quickly, and the crude oil prices would revert to where they were before the war started. However, the war has now continued for more t...