Indian Oil Corp, the nation's largest refiner, today said its crude oil import bill has dipped 67 per cent to USD 1.5 billion per month with the fall in international crude oil prices.
Oil prices have fallen from the high of $147 a barrel in July to under $40 per barrel now, resulting in fall in the import bill, IOC Director (Finance) SV Narasimhan said at a seminar here.
The company's import bill at the time of crude oil peaking was $4.5 billion per month and now it has fallen to $1.5 billion, he said.