NEW DELHI: India's crude oil imports in April 2026 saw a 4.3% decline in volume compared to the same month last year, but the import bill surged by over 50% due to a sharp rise in global oil prices, according to provisional data from the government's Petroleum Planning and Analysis Cell.
Import Volume and Cost
India imported 20.1 million tonnes (MT) of crude oil in April 2026, paying $16.3 billion. In contrast, the country had imported 21 MT in April 2025, costing $10.7 billion. The significant increase in the import bill reflects a nearly 70% surge in crude prices between April 2025 and April 2026. The Indian oil basket averaged $114.48 per barrel in April 2026, up from $67.72 per barrel in the same month last year.
LPG Production and Consumption
Due to restricted LPG supplies from West Asia, caused by ongoing conflict and disruptions in the Strait of Hormuz, Indian refineries ramped up LPG production by 30%. Production increased from 1 MT in April 2025 to 1.3 MT in April 2026. However, consumption declined from 2.5 MT to 2.2 MT during the same period. To manage supply, authorities implemented delivery authentication codes (OTPs) and extended the booking period for refills to 25 days in urban areas and 45 days in rural areas.
LNG Imports and Domestic Production
Imports of liquefied natural gas (LNG), used for producing automobile fuel CNG and cooking gas PNG, fell by nearly 30%. LNG imports dropped from 2,778 million metric standard cubic metres (mmscm) in April 2025 to 1,954 mmscm in April 2026. Domestic LNG production also declined from 2,908 mmscm to 2,787 mmscm. To compensate for constrained LNG supplies, companies sourced cargoes from Nigeria, Angola, Oman, and Indonesia.
Total natural gas consumption in April 2026 stood at 4,703 mmscm, which is 16.7% lower than in the corresponding month of the previous year.
