New Delhi: India’s dependence on crude oil imports touched a record high in the fiscal year ending March 31, 2025. India imported 88.2% of the crude it consumed in the April 2024-February 2025 period.
The import dependence has increased from 87.7% in the same period of the 2023/2024 fiscal year. The Indian import dependence in the full 2023/2024 fiscal year averaged 87.8%.
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India last year surpassed China as the world’s largest oil demand driver, amid growing demand for fuel transportation in India and slowing gasoline and diesel demand in China due to the advance of electric vehicles and LNG-fueled trucks in the world’s top crude oil importer.
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