March 3, 2024
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OIL & GAS

India’s Fuel Consumption Peaks at Seven-Month High in December

India experienced a robust surge in fuel consumption in December, reaching a seven-month high at approximately 20.054 million metric tons, according to Reuters’ breakdown of the data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry.

The total consumption, serving as a key indicator for oil demand, witnessed a notable 6.2% increase from 18.89 million tons in November. Moreover, it showed a commendable uptick of around 2.6% compared to the same period the previous year.

Diesel sales, predominantly used by trucks and commercially-operated passenger vehicles, saw a 0.9% month-on-month rise, reaching 7.60 million tons.

In contrast, gasoline sales in December experienced a slight dip of 4.5% from the previous month, totaling 2.99 million tons. Despite high discounts, small car sales decreased while sports utility vehicle sales witnessed an uptick, according to data from Indian automakers.

Sales of bitumen, crucial for road construction, surged by 12.9% compared to November, and fuel oil consumption increased by 9.6% in December.

Cooking gas, or liquefied petroleum gas (LPG), sales saw a commendable 5.6% rise, reaching 2.63 million tons. Additionally, naphtha sales demonstrated a substantial increase of 27.9%, totaling about 1.33 million tons, as per the data.

Reuters says the robust figures reflect not only increased economic activities but also diverse trends in the transportation and construction sectors, contributing to India’s notable surge in fuel consumption towards the end of the year.

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