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Fuel demand in India rose 2.9% year-on-year in October

New Delhi: Fuel demand in India  rose 2.9% in October compared with the same month last year. Data released by the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed this.

As per data, consumption of fuel, a proxy for oil demand, totaled 20.04 million metric tons. Sales of gasoline, or petrol, were 8.6% higher than a year earlier at 3.41 million tons. Diesel consumption was up 0.1% and totaled 7.64 million tons in October.

Cooking gas or liquefied petroleum gas (LPG) sales increased 9.3% to 2.73 million tons, while naphtha sales fell 1.1% to 1.18 million tons. Sales of bitumen, used for making roads, were 7.2% lower, while fuel oil use rose 23.4% in October.

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DOMESTIC SALES (in million tons):

2024 2024 2024 2023 2023 2023

OCT. SEPT. AUG. OCT. SEPT. AUG.

Diesel 7.64 6.37 6.50 7.63 6.49 6.67

Petrol 3.41 3.15 3.36 3.14 3.06 3.09

LPG 2.73 2.60 2.66 2.50 2.55 2.46

Naphtha 1.18 1.03 1.16 1.19 1.03 1.21

Jet fuel 0.76 0.73 0.73 0.69 0.66 0.68

Kerosene 0.03 0.04 0.04 0.03 0.03 0.05

Fuel Oil 0.65 0.57 0.49 0.53 0.54 0.51

Bitumen 0.69 0.50 0.29 0.75 0.50 0.50

TOTAL 20.04 17.94 18.26 19.47 18.21 18.85

Petrol sales of Indian Oil, Bharat Petroleum, and Hindustan Petroleum, which account for over 90 per cent of the total market, increased 3.1 million tonnes during October from 2.87 million tonnes in the same month last year.

India is the world’s third-largest consumer of crude oil. India depends on imports to meet over 85% of its requirement. The country currently has a refining capacity of around 250 million tonnes per annum (MTPA).

 

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