 "Fuel consumption rises 8.2% in January on strong industrial activity")
India's fuel consumption rose 8.2% year-on-year in January, government data showed on Thursday, helped by strong industrial activity in the world's third largest oil consumer.
Total consumption, a proxy for oil demand, totalled 20.04 million tonnes in January, up from 18.51 million tonnes a year earlier, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Consumption held relatively steady month-on-month from December's seven-month high of 20.05 million tonnes.
"India demand is on the rise, as its economy remains strong.
Car sales are also rising, as consumers are buying new 2024 models," said LSEG analyst Ehsan Ul Haq.
India's manufacturing industry improved substantially at the start of 2024, with factory activity expanding at its fastest pace in four months in January, while carmakers reported record sales last month.
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Sales of diesel, mainly used by trucks and commercially run passenger vehicles, rose 3.5% to 7.43 million tons in January, while gasoline sales increased 9.6% to 3.10 million tons.
Sales of bitumen, used for making roads, climbed 11.6% from last January, while fuel oil use decreased by 4.7% year-on-year.
Cooking gas, or liquefied petroleum gas, sales rose 7.6% to 2.70 million tons, while naphtha sales jumped 15.2% to about 1.30 million tons, the data showed.