What happened
India imported 19 MMT crude in August 2025, down 3% YoY from 19.6 MMT, spending $11.7B (+18% from $9.9B a year earlier).
India's refiners brought in 19 million metric tonnes of crude in August 2025, a 3% cut from 19.6 MMT in August 2024, per PPAC data in The Hindu. Despite the volume drop, the import bill surged to $11.7 billion from $9.9 billion a year earlier — an 18% jump driven entirely by higher per-barrel costs, not more barrels.
The landed cost of India's crude basket averaged $90.19 per barrel in August, up from $82.04 in July and $69.11 in August 2024 — a 30%+ year-on-year spike. Renewed West Asia hostilities disrupting the Strait of Hormuz and Bab el-Mandeb, plus higher freight rates and war-risk insurance premiums, pushed prices higher even as refiners trimmed import volumes.
India's net import bill — crude plus products plus gas imports minus petroleum exports — stayed essentially unchanged at $9.3 billion, because refiners earned about 43% more from product exports even though export volumes fell over 14%. LNG imports were flat at 2,915 MMSCM with spending unchanged at $1.2 billion.
PPAC data released in late September 2025 separately confirmed crude imports fell 2.9% in August and were down 0.7% cumulatively for April–August, while POL product exports rose 11.2% in the month — a sign that domestic refiners are shifting mix toward higher-value products to offset crude cost pressure.
Timeline
- Aug 2025 — PPAC provisional data: 19 MMT crude imported, $11.7B spent.
- Sep 17, 2025 — The Hindu reports the August import data.
- Sep 24, 2025 — ET Energy World confirms production decline and export surge.
- Late Sep 2025 — PPAC releases full import/export data for August.
Why it matters for me
Refiners face margin squeeze as the crude basket averaged $90.19/bbl — 30% above a year ago — while net import bill stayed flat at $9.3B only because product exports earned 43% more.
Money
General Public · Business Executives
India's crude import bill rose by ~$1.8B YoY, translating to higher petrol/diesel prices at the pump for consumers.
Work
Energy Sector Professionals
Refiners face margin pressure as input costs surge, pushing restructuring, cost-cutting, and upstream investment decisions.
Daily Life
General Public
Higher import costs may delay India's strategic petroleum reserve filling and keep fuel subsidy bills under scrutiny.
What to remember
India's oil import cost is now volume-insensitive — every $10/bbl basket move hits the import bill by ~$600M regardless of volume cuts.
India spent $11.7B on crude in August — 18% more YoY — despite importing 3% less. Here's why the bill keeps climbing.
Verified sources (5)
India's crude oil imports in August fall 3%, spends 18% more
↗India's crude imports down 3% since August last year but bill up 18%
↗Import/Export of Crude Oil and Petroleum Products
↗Crude Oil Production Declines Slightly in August, Exports Surge
↗India's crude oil imports in August fall 3%, spends 18% more
↗Claims and linked sources
8 claimsIndia's crude oil imports fell 3% in August (19 MMT) versus 19.6 MMT in the same month a year earlier, per PPAC provisional data.
India spent $11.7 billion on crude oil imports in August, an 18% jump from $9.9 billion a year earlier.
India's crude oil basket averaged $90.19 per barrel in August, up from $82.04 in July and $69.11 a year ago.
India's net import bill stayed essentially unchanged at $9.3 billion, because refiners earned ~43% more from product exports even though export volumes fell 14%.
LNG imports were flat YoY at 2,915 MMSCM in August, with spending unchanged at $1.2 billion.
PPAC data released in late September 2025 confirmed crude imports fell 2.9% in August and were down 0.7% cumulatively for April–August; POL product exports rose 11.2% in August.
Renewed West Asia hostilities — disruption through the Strait of Hormuz and Bab el-Mandeb, plus higher freight rates and war-risk insurance premiums — have put significant pressure on India's energy sourcing and import bill.
India's indigenous crude and condensate production declined 0.6% to 2.4 MMT in August 2025, meaning nearly the entire 19 MMT import volume replaced domestic supply as refiners processed a total of 22.3 MMT of crude.
Community signals
Signal-only · not reporting“Provisional data indicates crude oil imports declined 2.9% in August 2025 while POL product exports increased 11.2%.”