India's crude imports down 3% since August last year but bill up 18%

India has recorded a 3% decline in crude oil import volumes since August of last year. Despite the reduction in the quantity of oil purchased, the total import bill for the country has increased by 18% during the same period.

This divergence between volume and cost highlights the impact of global market pricing on India's energy expenditure. The rise in the import bill suggests that higher per-unit costs have offset the benefits of reduced consumption, placing continued pressure on the nation's import finances.