India's net oil import bill has jumped by 51 per cent to Rs 27,135 crore (Rs 271.35 billion) in the first quarter of current fiscal on the back of sharp spike in international oil prices.

Crude oil imports shot-up by 50.9 per cent to Rs 295,51 crore (Rs 295.51 billion) in April-June while pretroleum product imports vaulted 64.8 per cent to Rs 2798 crore (Rs 27.98 billion), according to the latest data from the ministry of petroleum and natural gas.

The country exported 3.633 million tonnes of products for Rs 5214 crore (Rs 52.14 billion), up 57.6 per cent over the first quarter of 2003-04.

India imported 25.785 million tonnes of crude and 1.437 million tonnes of petroleum products in April-June this year.

Net imports (imports minus exports) stood at 23.589 million tonnes, valued at Rs 27,135 crore.

Meanwhile, oil product consumption soared 6.2 per cent to 7.91 million tonnes in July this year on higher demand in agriculture and transport sectors.

Diesel sales rose 10.8 per cent to 3.33 million tonnes as against 3.01 million tonnes in July last year while petrol sales rose 4.9 per cent to 699,900 tonnes.

However, naphtha demand at 530,000 tonnes declined 8 per cent as the fuel was replaced by imported liquefied natural gas, which is cheaper, and lower demand from the power sector because some naphtha-fired plants were shut.