In 2014, one barrel of crude oil was priced at $105, and now it is at $74. But the present retail price of petrol and diesel are higher than the prices in 2014. Because taxes on petrol and diesel are continuously increasing. At present, approx 48% of final retail price is taxes (Excise duty, VAT & surcharges). India raised import tax on crude soyoil to 35 percent from 30 percent, and on crude canola oil and sunflower oil to 35 percent from 25 percent. Import duty on refined soyoil, canola oil and sunflower oil was raised to 45 percent from 35 percent. “Imports of palm oil will rise in coming months. Imports of Crude Oil in India increased to 19.66 TONNE Million in August from 19.34 TONNE Million in July of 2019. Imports of Crude Oil in India averaged 17.65 TONNE Million from 2014 until 2019, reaching an all time high of 21.10 TONNE Million in October of 2018 and a record low of 12.99 TONNE Million in February of 2015.