RBI sets $85 oil benchmark for FY26, $75 for FY27 after US-Iran ceasefire eases prices

Mumbai (Maharashtra) [India], April 8 (ANI): The Reserve Bank of India (RBI) on Wednesday said it has assumed an average crude oil price of $85 per barrel for FY 2025-26, in line with its CPI inflation projection of 4. 6 per cent. RBI Governor Sanjay Malhotra shared the estimate during a press conference after the Monetary Policy Committee decided to keep the repo rate unchanged at 5.