India's Apr-Feb crude oil import bill falls 12% on year, Feb bill down
This story was originally published at 13:37 IST on 20 March 2026
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MUMBAI – India's crude oil import bill in Apr-Feb fell over 12% on year to $109.6 billion despite a rise in import volumes, according to a report by the Petroleum Planning and Analysis Cell. India imported 225.7 million tonnes of crude oil during the period, up more than 2% from a year ago.
In February, India imported 19.4 million tonnes of crude oil, slightly lower than 19.5 million tonnes a year ago. The import bill fell around 15% on year to $9.2 billion in February. The average price of the Indian crude basket was $69.01 per barrel in February, higher than $63.08 per barrel in the preceding month but lower than $77.33 a year ago, the report said.
The country's dependency on crude oil imports rose to 88.7% in Apr-Feb from 88.3% in the year-ago period. Domestic crude oil production in Apr-Feb fell to 25.6 million tonnes from 26.2 million tonnes a year ago, while consumption of petroleum products rose to 222.3 million tonnes from 218.5 million tonnes. India's petroleum product consumption in February rose around 5% on year to 20.2 million tonnes, primarily driven by higher demand for liquefied petroleum gas at 9.3%, petrol at 6.1%, diesel at 4.3%, and aviation turbine fuel at 4%, according to the report.
India's gross petroleum imports, including crude oil and petroleum products, rose over 1% on year to 271 million tonnes in Apr-Feb. The value of gross petroleum imports fell to $129.3 billion from $146.6 billion a year ago, the report showed. India's exports of petroleum products fell to 56.9 million tonnes in Apr-Feb from 58.9 million tonnes in the year-ago period. The value of exports declined to $35.6 billion from $40.4 billion. End
US$1 = INR 93.37
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Reported by Ashutosh Pati
Edited by Avishek Dutta
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