India's April 2026 oil import bill climbs to $16.3 billion
India's oil import bill shot up by over half in April 2026, reaching $16.3 billion compared with $10.7 billion last year.
Even though India actually imported a bit less oil, prices stayed high (mostly above $100 a barrel) because of supply issues from regional conflicts and disruptions in the Strait of Hormuz.
India's LNG imports almost 30% lower
Russian oil got pricier too, with Urals crude averaging $112.3 a barrel, well above Europe's price cap.
Meanwhile, India's LNG imports dropped almost 30% after attacks on regional gas facilities disrupted supplies. Natural gas use within the country also fell by nearly 17%.
On the flip side, India managed to boost its petroleum product exports by over 80% in value (even though export volumes were down), thanks to those higher global prices.