India's crude oil imports value spikes around 50% on year in first five-months of FY27

India?s crude oil import bill spiked 48% on year to $74.8 billion during the April?August 2026 amid higher global prices while traded volumes remained largely unchanged, according to data from the Petroleum Planning and Analysis Cell (PPAC). India imported 100.7 million tonnes of oil during April-August against 101.1 million tonnes in the same period last year. In August, the import bill soared 18% to $11.7 billion while volumes declined by 3% to 19 million tonnes.

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