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India's Crude Oil Import Bill Spikes 47% to $15.4 Billion In September
Sentiment: NeutralHigh Priority
What Happened?
India's crude oil import bill surged by 47% to $15.4 billion in September due to rising energy prices amid conflicts in West Asia. Oil imports increased by 7% in volume.
Key points
- Crude oil imports rose to $15.4 billion in September 2026.
- The average price of crude oil was $116.09 per barrel in September.
- India's net oil and gas bill increased by 40% year-on-year to $13.4 billion.
- Petroleum exports fell by 24.6% year-on-year in September.
- LNG imports accounted for $1.2 billion of the total bill.
- In the first half of 2026-27, crude oil imports reached $90.6 billion.
Key insights
- Rising energy prices may lead to increased inflation in India.
- The decline in petroleum exports could affect India's foreign exchange reserves.
- Higher import costs may pressure the government to adjust energy policies.
Why it matters
The increase in India's crude oil import bill could impact the country's trade balance and energy security.
Entities
India· CountryPetroleum Planning & Analysis Cell· Organization
Source
Times Now
