India August crude imports down 3% as basket hits $90.19

Business Sep 17, 2026

India's crude oil imports dropped by 3% in August 2026 compared to August 2025, but the country still had to shell out a lot more cash, thanks to India's crude oil basket jumping from $69.11 to $90.19 per barrel.

So even with less oil coming in, the total bill actually went up by over 18%, according to official data.

India net import bill steady $9.3B

Despite pricier oil, India's net import bill stayed steady at $9.3 billion.

This was possible because export revenues from petroleum products shot up by 43%, helping balance things out, even though export volumes themselves fell by more than 14%.

Meanwhile, LNG (liquefied natural gas) imports barely changed from last year in both quantity and cost.