Impact of Crude Oil Prices On Inflation in India

Registration ID: IJNRD_309826

Published ID: IJNRD2510177

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Vansh Nigam

This research paper aims to examine the dynamic relationship between crude oil prices and inflation in India by exploring their interconnected implications and mechanisms for economic stability. Crude oil plays a very important role in the global economy due to its influence on production, transportation and energy prices. The research paper uses both theoretical and statistical techniques to prove that crude oil price has a direct impact on inflation. Statistical techniques such as linear regression analysis, correlation analysis and Durbin Watson Test have been used. Analysis by statistics has been done on data from 2008 to 2023. These 15 years were taken in order to place special emphasis on oil price shocks due to the 2008 financial crisis and the Russia Ukraine war of 2020. These two historical events formed the theoretical backbone of the paper. Case studies and historical analysis have also been performed on these two events. In the research paper, theoretical techniques such as cost push inflation have been used to analyse the impact of crude oil price on inflation. Foundational techniques such as calculation of inflation have also been explained and taught through the paper. The research paper also analyses the implications of an increase in oil prices on the Indian Economy. Multiple long term and short term mitigation strategies have also been discussed in the paper which can further be used by economists and policy makers for the greater good of humanity.

Published Paper   E-Certificate

Vansh Nigam (October-2025). Impact of Crude Oil Prices On Inflation in India. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 10(10), b652-b667. https://ijnrd.org/papers/IJNRD2510177.pdf

Volume 10 Issue 10, October-2025

Pages : b652-b667

Paper Reg. ID: IJNRD_309826

Published Paper Id: IJNRD2510177

Research Area: Commerce All

Author Type: Indian Author

Country: Gurugram, Haryana, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2510177.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2510177

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

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