India’s crude import bill declined by 18.6% during the first three months of financial year 2025-26, reaching $30.6 billion compared to $37.6 billion in the same period of FY24, according to data from the Petroleum Planning and Analysis Cell. The decline in the import bill can be attributed to India’s heavy reliance on discounted Russian barrels. The country imported 62.1 million tonnes of crude oil during Apr-Jun, largely unchanged from last year.