India’s Oil Import Price Drops Below $70 for the First Time Since 2021

OilPrice · Tsvetana Paraskova · last updated April 15, 2025 – 3:39 AM

The average price of India’s crude oil imports fell to below $70 per barrel this month, for the first time since 2021, as international benchmarks plunged amid trade and tariff uncertainty. India, which imports 88% of the crude it consumes, saw its average cost of crude oil imports plunge by 17.87% in April compared to March 2024. The average import cost stood at $69.39 per barrel for the first two weeks of this month—the lowest level since August 2021, Indian outlet Hindustan Times reported on Tuesday. The lower import price could…

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