India's oil import bill shoots up by 53.4% in June

Rising crude prices have pushed up India's oil import bill by 53.4 per cent to $ 9.03 billion in June this fiscal.     

The country imported oil worth $ 5.89 billion in the same period a year ago.     

For the April-June quarter of 2008-09, oil imports grew by 50.2 per cent to $ 25.52 billion from $16.99 billion in the corresponding period last year, official data released here today said.     

It was largely due to oil imports that India's trade deficit widened by 41.7 (rpt) 41.7 per cent to $ 30.42 billion in the April-June period.     

The Indian crude basket for the April-June quarter this year stood at $ 118.50 per barrel.

Last year, it was $77.25 per barrel.     

International crude prices are currently ruling at $ 123.35 a barrel in the Asian market, off from a record high of $147 a barrel seen last month.