India’s Crude Oil Import Bill Soars 60% as Iran War Drives Prices Higher
India paid 60% more for crude oil imports in the April-June quarter compared to the same period last year, as the surge in oil prices couldn’t offset slightly lower import volumes. The value of India’s crude oil imports jumped in the first quarter of India’s 2026/2027 fiscal year ending March 31, 20
Source: OilPrice.com
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DW NOTE
India imported 90% of its crude in 2025. When the Hormuz blockade started July 10, that dependence became a tax hike New Delhi didn't vote for. A 60% jump in the oil bill isn't a supply shock — it's a reminder that energy security through diversification was cheaper than energy security through hope.