25th February, 2003
Ministry of Petroleum & Natural Gas  


IMPACT OF CRUDE PRICES ON OIL IMPORT


RAJYA SABHA

A comparison of the quantum and value of the imports of crude oil and petroleum products during the period April-November 2002 with April-November 2001 is given below:

Period

Quantum of Imports

(in Million Metric Tonnes)

Value of Imports

(in million US$)

April-November 2002

60.902

11,383.20

April-November 2001

55.116

9,676.80

As of now, only PDS Kerosene and domestic LPG are subsidised products. Against the subsidy level of Rs. 4.05 per litre and Rs. 115.63 per cylinder respectively in the year 2001-02 on PDS Kerosene and domestic LPG, the corresponding subsidy in 2002-03 has come down to Rs. 2.45 per litre and Rs. 67.75 per cylinder respectively. Further, the existing subsidy will be phased out in the next three to five years.

The above information was given by the Minister of State for Petroleum & Natural Gas, Shri Santosh Gangwar, today in the Rajya Sabha in a written reply.