India’s crude oil imports rose by nearly a quarter in February as demand for fuel products rose ahead of federal polls that begin from next week. The world’s third-biggest crude oil importer after the U.S. and China bought 16.42 million metric tons, or 4.29 million barrels a day of oil, from overseas last month, up from 13.37 million tons a year earlier, according to oil ministry data. Crude oil refiners say the demand for crude is up due mainly to the steady rise in demand for fuel products as political parties burn more gasoline and diesel to power their campaign for the federal elections. Fuel demand in February rose 2.4 per cent to 12.836 million tons from a year earlier. According to a senior government official, imports also rose because local refineries raised crude oil processing volumes to meet their fiscal-year throughput target. The annual crude oil contracts […]