India’s crude import bill rises 48% to $74.8 bn in Apr-Aug amid high costs

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India's crude oil import bill increased by 48.4% year-on-year to $74.8 billion in the April-August period, driven by higher international prices despite steady import volumes. This rise reflects growing expenditure on crude oil during the first five months of the fiscal year 2027.

India’s crude oil import bill rose 48.4 per cent year-on-year to $74.8 billion in April-August. Higher international prices drove the increase despite import volumes remaining nearly the same, according to data from the Petroleum Planning and Analysis Cell (PPAC). The country spent $24.4 billion more on crude during the first five months of FY27 than ...