New Delhi, June 3 -- International crude oil prices have remained elevated, ruling above $100 per barrel for most of the past three months since the West Asia war began on 28 February. Though prices have moderated since the benchmark Brent crude hit a four-year high of $126.41 a barrel on 30 April, volatility has remained pronounced.

Crude prices eased over the past week, with Brent nearing $90 per barrel. Still, prices remain significantly higher than the pre-war levels. Given that India imports around 90% of its crude oil requirements, Mint takes a look at the price trend since the start of the war and its impact on the Indian economy.

Before Israel and the US began bombing Iran on 28 February, crude was around $70 per barrel. Last ye...