India's Jan crude oil import bill down 19% on year; Apr-Jan down 12%
This story was originally published at 18:34 IST on 19 February 2026
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MUMBAI – India's crude oil import bill fell 12% on year to $100.4 billion in Apr-Jan, despite a rise in import volume, according to a report by the Petroleum Planning and Analysis Cell. India imported 206.3 million tonnes of crude oil in the first 10 months of 2025-26 (Apr-Mar), up nearly 3% from a year ago.
In January, India imported 21.1 million tonnes of crude oil, slightly lower than 21.2 million tonnes a year ago. The import bill fell around 19% on year to $9.5 billion in January, amid weak global crude oil prices. The average price of the Indian crude basket was $63.08 per barrel in January, compared with $62.20 in the preceding month and $80.20 a year ago, the report said.
The country's dependency on crude oil imports rose to 88.6% in Apr-Jan from 88.2% in the year-ago period. Domestic crude oil production in Apr-Jan fell to 23.5 million tonnes from 24.0 million tonnes a year ago, while consumption of petroleum products rose to 202.2 million tonnes from 199.1 million tonnes.
India's gross petroleum imports, including crude oil and petroleum products, rose around 2% on year to 247.9 million tonnes in Apr-Jan. The value of gross petroleum imports fell to $118.5 billion from $134.1 billion a year ago, the report showed. India's exports of petroleum products fell to 52.6 million tonnes in Apr-Jan from 53.3 million tonnes in the year-ago period. The value of exports declined to $32.8 billion from $36.6 billion. End
US$1 = INR 90.67
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Saji George Titus
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