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India's crude import basket at 10-month low but pump prices to remain high

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

Topics
Crude Oil | Indian oil import | Oil imports

Subhayan Chakraborty  |  New Delhi 



Oil prices, Oil
India, the third-largest oil importer in the world has seen its crude bill reducing continuously in recent months

The price of the Indian basket of has hit a 10-month low of $88.6 a barrel in November, government data showed.

However, officials say this may not translate into an immediate reduction in rates at pumps as state-owned retailers might need time to recoup losses incurred earlier.

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First Published: Mon, November 28 2022. 19:56 IST

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