{
  "id": 9201004,
  "title": "India’s crude import bill rises 48% to $74.8 bn in Apr-Aug amid high costs",
  "url": "https://urgent.news/2026/09/22/indias-crude-import-bill-rises-48-to-74-8-bn-in-apr-aug-amid-high",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T21:00:37.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/indias-crude-import-bill-rises-48-to-74-8-bn-in-apr-aug-amid-high-costs/"
  },
  "original_language": "en",
  "account": "India's crude oil import bill surged by 48.4% year-on-year to $74.8 billion during April-August due to high international prices, according to data from the Petroleum Planning and Analysis Cell (PPAC). Despite import volumes remaining nearly the same, the country spent $24.4 billion more on crude compared to the same period a year earlier. Crude imports fell marginally by 0.4% to 100.7 million metric tonnes (MMT) from 101.1 MMT a year prior. In rupee terms, import expenditure rose 62% to over ₹7 trillion. The Indian crude basket averaged $90.19 a barrel in August, up 30.5% from $69.11 a barrel in August 2025 and 9.9% above the July average of $82.04. Brent crude averaged $90.84 a barrel in August, up from $68.21 a year earlier. The recent price hike has been driven by supply disruptions due to conflicts in West Asia. Attacks on Saudi Arabia's East-West pipeline and tensions around the Strait of Hormuz have raised concerns over Gulf crude availability and movement. The International Energy Agency (IEA) warned that prolonged supply constraints could further pressure prices. India's crude import dependence remained high at 88.1% during April-August, only marginally lower than 88.3% a year earlier. Domestic crude production fell to 11.4 MMT, while petroleum imports, including crude and products, rose 36.8% to $81.8 billion. The higher energy bill accounted for 22.5% of India's total merchandise imports, contributing to a widening merchandise trade deficit to $147.1 billion.",
  "summary": "India’s crude oil import bill rose 48.4 per cent year-on-year to $74.8 billion in April-August. Higher international prices drove the increase despite import volumes remaining nearly the same, according to data from the Petroleum Planning and Analysis Cell (PPAC). The country spent $24.4 billion more on crude during the first five months of FY27 than ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}