India's crude oil import bill has almost doubled to Rs 1,97,620 crore during the first five months of current fiscal on back of record international oil prices.
India imported 54.6 million tonnes of crude oil in April-August for Rs 1,97,620 crore against 51.9 million tonnes of crude imported for Rs 1,01,509 crore in the same period a year ago, according to latest data from Petroleum Ministry. The basket of crude oil India buys averaged $70.25 per barrel in 2007-08. This year it has averaged $114.23 a barrel. The nation also imported 8.6 million tonnes of petroleum products mainly LPG for Rs 36,844 crore. In April-August 2007-08, the country had imported 9.1 million tonnes of products for Rs 21,307 crore. India's fuel exports mostly diesel, petrol and jet fuel were down 10.2 per cent to 15 million tonnes in the period from 16.7 million tonnes a year ago. Exports fetched Rs 64,837 crore this fiscal as against Rs 41,636 crore the previous year. Exports were down as refiners fed soaring domestic demand. Diesel demand in the country grew 10.7 per cent to 21.07 million tonnes in April-August and comprised more than one-third of the total fuel consumed in Asia's third largest economy. Net imports (crude oil imports plus product imports minus exports) in April-August stood at Rs 1,69,627 crore as opposed to Rs 81,180 crore last year http://www.business-standard.com/india/storypage.php?tp=on&autono=47961 The law of gravity says no fair jumping up without coming back down --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
