India's Crude Import Bill Surges 48% in June

India's bill for importing crude oil went up by 48% in June 2026 compared to the same month last year, reaching $14.7 billion.

Even though India imported less crude oil in volume, the cost per barrel increased significantly.

This is because the price of crude oil has gone up, partly due to problems with supplies from West Asia.

To make sure there's enough fuel for people in India, the country is buying more crude oil from places like Russia, Venezuela, Brazil, and Angola.

The total cost for oil and gas imports in the first three months of the financial year 2026-27 also went up by 45% compared to the same period last year.