India Crude Imports Drop as Import Bill Rises Eighteen Percent

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India's crude oil imports fell 3% year-on-year in August 2026 to 19 million tonnes, even as the import bill rose over 18% to $11.7 billion.
The average price of the Indian crude basket was $90.19 a barrel in August, up from $69.11 a year earlier.
Renewed hostilities in West Asia disrupted crude supplies through the Strait of Hormuz and Bab el-Mandeb, raising crude prices, freight rates and war-risk insurance premiums.
Crude imports in August were also 11.2% lower than July's 21.4 million tonnes.
A higher bill despite lower volumes means India is paying significantly more for the same energy, straining its energy import costs.

Whether West Asia disruptions to the Strait of Hormuz and Bab el-Mandeb ease or intensify
Further movement in the Indian crude basket price from the $90.19 a barrel August average
Trends in petroleum product consumption after the 2.8% fall in August

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Named India · Petroleum Planning & Analysis Cell

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