India’s crude oil import bill for the first quarter of fiscal year 2027 surged to approximately $49.66 billion, marking a new record for the period.
The figure represents a 61% year-on-year increase, driven by elevated global prices amid ongoing conflict in West Asia that has disrupted supply chains and kept a risk premium on the commodity.
According to provisional data from the Petroleum Planning and Analysis Cell (PPAC), India imported roughly 60.48 million tonnes of crude oil between April and June.
The sharp rise in expenditure highlights the vulnerability of the world’s largest crude importer to geopolitical shocks, even as volume growth has been robust.
The data confirms that despite efforts to diversify sources, the cost of securing energy remains highly sensitive to regional instability.
The surge in import costs comes against a backdrop of record-high monthly volumes.