India, in Infographics: Energy & Strategy
India’s Crude Import Bill Rose 54% To ₹9.90 Lakh Crore In Seven Months Of The Iran War, Though It Bought 1.2% Less Crude
India’s Crude Oil Import Bill, March To September 2026 Against The Same Months Of 2025, In Rupees And Dollars. Hover Or Tap A Month.
Each Pair Is One Month: 2025 And 2026, During The Iran War. Switch Between Rupees And Dollars: The Gap Between The Two Is The Weaker Rupee. Hover Or Tap A Month For The Bill, The Implied Price Per Barrel And The Exchange Rate.
Bill In Rupees
+54%
₹6.42 Lakh Crore To ₹9.90 Lakh Crore
Bill In Dollars
+41%
$74.2 Bn To $104.5 Bn
Volume
−1.2%
Slightly Less Crude Bought
Per Dollar, War Months
₹94.82
₹86.47 A Year Earlier
The Bottom Line
In Seven Months Of The Iran War India Paid ₹9.90 Lakh Crore For Crude, 54% More Than A Year Earlier, While Buying 1.2% Less. Most Of The Rise Came From Costlier Crude; The Weaker Rupee Added Roughly ₹0.74 Lakh Crore.
Where The Extra ₹3.49 Lakh Crore Came From
Costlier Crude: About ₹2.84 Lakh Crore
The Implied Dollar Price Of Each Imported Barrel Rose From $70 To $100, Peaking At $116 In Apr 2026.
Weaker Rupee: About ₹0.74 Lakh Crore
The RBI Reference Rate Averaged ₹94.82 Per Dollar In The War Months, Against ₹86.47 A Year Earlier: The Rupee Lost 8.8%. Depending On Method, The Rupee’s Share Is ₹0.62 To ₹0.87 Lakh Crore.
Less Crude: About −₹0.10 Lakh Crore
India Imported 1.2% Less Crude By Weight Than In The Same Months Of 2025.
Read With Care
The Split Is An Estimate
Trade Data Value Each Cargo At A Customs Exchange Rate. Refiners Pay In Dollars On Their Own Dates And Some Hedge, So Their Actual Rupee Cost Is Not Published. The Rupee And Dollar Totals Are Official; The Split Between Price And Exchange Rate Is Not.
One PPAC Month Does Not Add Up
PPAC’s May 2026 Dollar Figure Implies A Rate 4.4% Away From The RBI Average, While Every Other Month Is Within 0.6%. Dollars Here Are PPAC Rupees Divided By The RBI Rate.
Provisional
PPAC Marks All Figures Provisional; September 2026 Is Partly Prorated. Per Barrel Prices Use 7.33 Barrels Per Tonne And Are Average Import Costs, Not Market Prices. LNG Is Excluded.
Sources & Method
Data
PPAC, Import Of Crude Oil, Quantity (’000 Tonnes) And Value (₹ Crore), Updated 23 October 2026. RBI Reference Rate Archive (FBIL), Daily USD/INR, Averaged By Month. Split: Log Shares Of The Change In Volume, Dollar Price Per Tonne And Exchange Rate, Which Add Exactly To The Rupee Change.
Data: PPAC · RBI.
