India imported 4.3% less crude oil in April, yet the bill still rose 50% as prices soar

📌 Summary:

• India's crude oil import volume fell 4.3% in April 2026 — the second month after the start of the West Asia conflict — yet the import value soared about 50% over the same period last year, reflecting price pressure from the continuing closure of the Strait of Hormuz

• As per Petroleum Planning and Analysis Cell (PPAC) data: India imported 20.1 million metric tonnes (MMT) of crude oil in April, down from 21 MMT a year earlier, but oil-marketing companies paid $16.3 billion versus $10.7 billion last year

• The net oil-and-gas import bill (after deductions for petroleum product exports) grew about 23% to $13.9 billion in April

• LNG: imports fell nearly 30% (1,954 MMSCM vs 2,778 MMSCM), and the LNG import bill fell a quarter from $1.2 billion to $0.9 billion — driven mainly by lower consumption; domestic net natural gas production fell 4.2%

• Demand contraction: LPG sales by PSUs dipped 12.7% year-on-year to about 2.2 MMT; during the conflict the government has rationed commercial establishments to 70% of pre-crisis LPG use; natural gas consumption fell 16.7%

• India's import dependency on natural gas declined to 41.6% in April 2026, from 49.2% a year earlier — a fall driven by demand compression rather than higher domestic output

🎯 UPSC Relevance: GS3 (Indian Economy — energy and infrastructure) — energy security, the impact of the Strait of Hormuz closure on India's oil-and-gas import bill and current account, and demand-side rationing during a supply shock.

📝 Prelims Facts:

• The Petroleum Planning and Analysis Cell (PPAC) functions under the Ministry of Petroleum and Natural Gas

• India imported 20.1 MMT of crude oil in April 2026, paying $16.3 billion

• India's natural gas import dependency fell to 41.6% in April 2026 (from 49.2% a year earlier)

• The Strait of Hormuz is a critical chokepoint for global oil and LNG shipments

🔑 Key Term: Strait of Hormuz — a narrow maritime chokepoint between the Persian Gulf and the Gulf of Oman through which a large share of the world's seaborne crude oil and LNG passes; its disruption sharply raises global energy prices.