Oil & gas import bill falls 12% in Apr-Oct

India gained from the decline in oil prices this yr

- SHUBHANGI MATHUR

India's net oil and gas import bill slipped 12 per cent during the April-October period of the current financial year.

This comes amid softening crude oil prices and declining natural gas demand, according to data sourced from Petroleum Planning and Analysis Cell (PPAC).

The net import bill for the two fell to $69.9 billion in the first seven months of FY26, from $75.9 billion in the same period last year. India meets around 90 per cent of its domestic crude oil requirements and roughly 50 per cent of its natural gas needs from imports.