India’s May energy import bill hits $18.7 billion, up 81.6% year-on-year

India’s energy import bill reached $18.7 billion in May, up 81.6% from a year earlier, as higher oil and gas prices lifted costs. Crude oil imports rose 7.5% from April and LNG imports increased 16%, according to provisional oil ministry data compiled by Indian media. Supply disruption linked to the Middle East conflict pushed India toward more expensive cargoes not dependent on the Strait of Hormuz.