In April, India exported 4.2 million tonnes of petroleum products, a 12.5% decrease in volume terms from 4.8 million tonnes in April 2024, according to data from the Petroleum Planning and Analysis Cell.
High-speed diesel (HSD) and aviation turbine fuel (ATF) exports had the biggest impact on the drop in petroleum product exports last month. Additionally, in terms of value, exports decreased by about 35% to $2.4 billion during the fiscal year as opposed to $3.7 billion at the same time last year.
Refined oil product imports fell 9% year-over-year to 3.9 million tonnes in April. According to PPAC figures, the import bill for these goods dropped by 14% to $1.8 billion. Similar to the previous year, India’s consumption of petroleum products was modest last month at 20.1 million tons. The nation’s domestic petroleum product demand is expected to hit a record 252.9 million tonnes in FY26.
India exported 1.12 million barrels of petroleum products per day in April, down 22% from 1.44 million barrels in March, according to statistics from Kpler, a worldwide real-time data and analytics service. Exports decreased by more than 7% year over year from 1.20 million barrels in April 2024.
Although the United States levied reciprocal duties of 26 percent on India, certain commodities, such as electricity and other specific minerals, were not subject to the tariffs. According to industry participants, the exemptions are a comfort to the energy markets, with a lessened impact expected on Indian petroleum product exports. However, because of geopolitical uncertainty, the world’s energy markets are still vulnerable to upheaval.
The recent disruptions in international shipping have increased the cost of commodities and put pressure on global supply systems. According to the government, container freight costs saw a notable uptick in 2024 as a result of increased demand, delays at the Panama Canal, and disruptions in the Red Sea shipping route, even if they had stabilized in 2023.
