New Delhi, Feb 26 Continuing hostilities between Russia and Ukraine as well as rising demand is expected to keep global crude oil prices in the range of $90-to-$100 per barrel in the short to medium term.
For India, the price range is a cause of concern as it may add Rs 8-to-Rs 10 in petrol and diesel's selling prices, if the OMCs decide to revise the current prices.
At present, India imports 85 per cent of its crude oil needs.
Besides, the cascading effect of higher fuel cost will trigger a general inflationary trend.
Already, India's main inflation gauge Consumer Price Index
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