News > India's oil import bill doubles to $119 bn in FY22

India's oil import bill doubles to $119 bn in FY22

The Week | 24/04/2022 05:25 PM | Click to read full article

India's crude oil import bill nearly doubled to $ 119 billion in the fiscal year that ended on March 31, as energy prices soared globally following the return of demand and war in Ukraine.

India, the world's third-biggest oil consuming and importing nation, spent $ 119.2 billion in 2021-22 (April 2021 to March 2022), up from $ 62.2 billion in the previous fiscal year.