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Oil is crucial for every part of the Indian economy: From government to consumer, its price impacts spending by every stakeholder. So, till clarity emerges on the possible trajectory of oil prices because of the revived US-Iran war, the volatility quotient will remain high. That said, this is not the first time oil prices are spiking. They have done so in the past. The difference this time is that it is perhaps not only about the prices, but something more.