New Delhi, Aug. 27 -- India incurred an additional USD 22.5 billion in fossil fuel import costs between March and August 2026 amid disruptions to global energy trade following the Hormuz crisis, ranking second globally after China, according to a report by the Centre for Research on Energy and Clean Air (CREA).

The six-month disruption, triggered by attacks on Iran in late February, added more than USD 330 billion to global fossil fuel import bills, requiring importing countries to pay an additional USD 55 billion per month, the report said, reported Economic Times.

China recorded the highest additional cost at USD 35.5 billion, followed by India at USD 22.5 billion and the US at USD 16.5 billion. Other major economies also saw substant...