LONDON, Feb 3 (Reuters) - Crude oil is more expensive than ever in real terms for consumers in many emerging markets, higher even than in mid-2008 when Brent crude oil, the North Sea benchmark, reached almost $150 per barrel.
Priced in U.S. dollars on international spot markets, Brent has been relatively weak in recent months, and was trading just above $106 per barrel on Monday at 1200 GMT.
But a collapse in the value of emerging market currencies has pushed up the cost of fuel in many developing economies.
In Turkish lira, Brent is now a third higher than it was in 2008. The benchmark is also at or near record highs in the Brazilian real, Indian rupee, Indonesian rupiah, Russian rouble and South African rand.