India's spending on oil imports rose by 48% — OilPrice
India's spending on crude oil imports reached $74.8 billion in April-August, up 48.4% from the same period in 2025. The physical volume of imports, meanwhile, fell by 0.4% to 100.7 million tonnes, OilPrice reports, citing data from India's Petroleum Planning and Analysis Cell.
Spending rose despite lower volumes
Over five months, India spent $24.4 billion more on crude oil purchases than a year earlier. In April-August 2025, the country imported 101.1 million tonnes of oil.
OilPrice attributes the increase in spending to a surge in international oil prices, reduced crude flows from the Middle East, and risks to shipping in the Strait of Hormuz. According to the publication, freight rates on the route from Saudi Arabia's Ras Tanura to India have risen by more than 400% since February 28.
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September indicators
In April-June, India's spending on crude oil imports was 60% higher than in the same period of the previous year. Commodity prices rose despite a slight decline in purchasing volumes.
According to government data cited by OilPrice, the average price of the Indian basket of crude oil in September stood at $114.80 per barrel at the time of publication. The publication also noted that the price of Brent had again reached $100 per barrel, so India's September import spending may be higher.
The Indian basket of crude oil is a calculated indicator based on the Dated Brent benchmark grade, as well as the average of Oman and Dubai grades imported by Indian oil refineries.
