 "A sharp fall in global crude benchmarks will reduce costs of fuel, both oil and gas, to Indian consumers if State-run oil companies choose to pass them on")
India's monthly intake of Russian oil increased by 3.3 per cent in October to a three-month high of 1.95 million barrels per day (bpd), accounting for about two-fifths of overall imports, data provided by trade sources show.
India, the world's third biggest oil importer and consumer, has been gorging on Russian oil after some nations cut purchases from Moscow and imposed sanctions over its full-scale invasion of Ukraine in February 2022.
India's overall imports during the month totalled 4.81 million bpd, up 2 per cent on the previous month, the data showed.
Russia continued to be the top oil supplier to India, followed by Iraq and Saudi Arabia, the data showed.
Data includes some crude parcels that arrived in October but discharged in November. It also includes some oil parcels that arrived in September and were discharged in October.
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