India's crude oil import bill rose 26% year-on-year to $49 billion in the first quarter of 2026-27, even as crude import volumes fell 18%, as the West Asia conflict disrupted supplies and pushed global oil prices higher. According to Commerce Ministry data, India imported 59.7 million tonnes (MT) of crude oil between April and June, compared with 73 MT in the same period last fiscal. Despite the lower volumes, the import bill increased from $39 billion in April-June 2025 to $49 billion this year.