India’s crude import bill surges 46% to $90.6 billion in April-September on elevated oil prices

India’s crude oil import bill surged 46.3 percent to $90.6 billion during April–September on higher global prices even as volumes remained largely flat from the year-ago period, data from the Petroleum Planning and Analysis Cell (PPAC) shows.

On October 21, Brent crude was trading higher at around $110 a barrel on supply concerns, with traders wary of Red Sea shipping risks and threats to oil infrastructure in Saudi Arabia from Iran-backed Houthi rebels.

India imported 122.7 million tonnes of oil during April-September, largely unchanged from 121.8 million tonnes in the previous year.

In September, the import bill jumped 46.6 percent to $15.4 billion, while volumes were up 6.8 percent at 21.7 million tonnes.

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