India's oil import bill jumped 52.3% to $16.3 billion in April, driven by crude prices exceeding $100 per barrel and supply disruptions from the Iran war.
The surge in India's oil import bill comes despite a 4.2% decline in volume
May 25, 2026
04:33 pm
What's the storyIndia's oil import bill skyrocketed by 52.3% to $16.3 billion in April, from $10.7 billion a year ago, according to data from the Petroleum Planning and Analysis Cell (PPAC).
The spike comes as crude prices remained above $100 a barrel for much of the month due to the ongoing conflict in Iran.
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India's crude oil imports dropped 4.3% in April, yet the bill surged 50% amid soaring prices and reduced LNG imports.
Average price per barrel reached $114.48 in April this year
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