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Bengaluru — India’s fuel consumption, a proxy for oil demand, rose by 1.9% year-on-year in July to about 18.09 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Tuesday.
Fuel demand was still down about 6.6% from the previous month, when demand stood at 19.36 million tonnes.
There is a seasonality in Indian demand, which normally peaks in March and declines during the summer period due to the monsoon, said UBS analyst Giovanni Staunovo.
Sales of gasoline fell 5.3% to 2.99 million tonnes and sales of diesel decreased around 13% to 6.89 million tonnes in July from the previous month, the data showed.
2023 | 2023 | 2023 | 2022 | 2022 | 2022 | |
July | June | May | July | June | May | |
Diesel | 6.89 | 7.91 | 8.21 | 6.63 | 7.67 | 7.29 |
Petrol | 2.99 | 3.15 | 3.35 | 2.81 | 2.97 | 3.02 |
LPG | 2.39 | 2.23 | 2.35 | 2.40 | 2.23 | 2.16 |
Naphtha | 1.07 | 0.98 | 1.16 | 1.15 | 0.95 | 0.83 |
Jet fuel | 0.66 | 0.64 | 0.67 | 0.58 | 0.59 | 0.60 |
Kerosene | 0.05 | 0.05 | 0.04 | 0.02 | 0.05 | 0.07 |
Fuel Oil | 0.57 | 0.52 | 0.60 | 0.56 | 0.55 | 0.55 |
Bitumen | 0.53 | 0.76 | 0.86 | 0.34 | 0.69 | 0.73 |
TOTAL | 18.09 | 19.36 | 20.68 | 17.75 | 18.53 | 18.37 |
NOTE: Total figures may not tally because not all items are included in the table, and numbers are rounded.
*Swati Verma & Ananya Bajpai; Editing: Sonia Cheema – Reuters
This article was originally posted at sweetcrudereports.com
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