Can I import petrol to India?

At present, only crude, fuel oil, kerosene, LNG and natural gas, LPG imports are freely allowed and IOC is the canalising agency for petrol, diesel, natural gas liquids, light diesel oil and ATF imports.

Can I import my own petrol?

Yes, the new players can import petrol and diesel and sell them at a price that can create competition for the public-sector oil refineries. But why not use this opportunity to introduce more reform in retail oil pricing by India’s state-controlled refineries.

Does India import refined petrol?

Imports of Refined Oil Product in India averaged 1265.55 TONNE Million from 2014 until 2021, reaching an all time high of 113642 TONNE Million in May of 2014 and a record low of 1.33 TONNE Million in June of 2014.

Who can import crude oil in India?

The country’s crude oil import during April-September 2021 stood at 100.9 million tonnes. The top five suppliers were Iraq (24.7 million tonnes), Saudi Arabia (15.7 million tonnes), UAE (9.9 million tonnes), the US (eight million tonnes) and Nigeria (7.99 million tonnes). Iraq has been topping the chart since 2017-18.

Who decides petrol price in India?

Earlier, petrol prices were regulated solely by the government. It was revised once in 15 days. In 2014, the government deregulated the prices of petrol and diesel. Three years later, from 2017, it has been revised on a daily basis.

Does India import crude petroleum oil and petrol?

Yes, India imports crude petroleum oil. In fact, India is the 3rd largest importer country of crude petroleum oil in the world. India imports crude oil not petrol.We have various refineries where this crude oil undergoes fractional distillation and we get petrol.

Do I need an import license to import goods to India?

There is no need to obtain any import license or permission to import such goods. Most of the goods can be freely imported in India. Restricted items can be imported only after obtaining an import license from the relevant regional licensing authority.

How much will India’s crude oil import bill increase in 2017-18?

India’s crude oil import bill is expected to increase by 25\% to $87.7 billion in the current fiscal of 2017-18, which closes on this weekend as there is a surge in the global oil prices.

What is the role of India in the global crude oil trade?

In such adverse situations, India has to proactively play a major role in global crude oil trade as swing oil producer by using its limited crude oil production base to bring down the high price of crude oil fixed by OPEC and the multinational crude oil production companies.