India's consumption of petroleum products decreased by 4.6% in April 2026 compared to the previous year. Concurrently, natural gas usage saw a substantial reduction of 16.7%, and imports of Liquefied Natural Gas (LNG) plummeted by nearly 30%. This indicates increasing economic pressure within the country.
Despite the lower consumption volumes, India's oil import expenditure rose by $5.7 billion. This surge was primarily driven by the depreciation of the Indian currency against the US dollar and the sustained high average prices of Brent crude oil, placing considerable fiscal burden on the domestic economy.
For freight forwarders and logistics professionals, this trend suggests a potential decrease in demand for tanker and LNG carrier services to India, particularly for energy imports. While overall cargo volumes might be affected by the economic strain, the rising cost of imports could also influence pricing strategies and the overall trade balance for goods entering the country. Forwarders should monitor India's economic indicators and energy policies for potential shifts in trade flows and shipping requirements.
