Fuel Consumption

Consumption of fuel, a proxy for oil demand, rose to 20.49 million metric tons, data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed

On a monthly basis, fuel demand was up over 1 per cent from 20.46 million tons in November, data from the Petroleum Planning and Analysis Cell's (PPAC) website showed

Plug-in hybrids priced from 79,800 yuan ($11,011) have made up the bulk of BYD's sales in the past three years, with an accumulated 3.6 million such cars sold by the company

Total consumption however rose 4.6% to a record 233.3 million tonnes in FY24

Demand was up about 5.1% on a daily basis from the 4.74 mbpd (20.04 million metric tons) consumed in January

Total consumption, proxy for oil demand, totalled 20.04 mn tonnes in January, up from 18.51 mn tonnes a year earlier, data from Petroleum Planning and Analysis Cell (PPAC) of oil ministry showed

Sales of gasoline in December slipped 4.5 per cent from the previous month to 2.99 million tons

It was down about 2 per cent compared with the same period a year earlier

Consumption of fuel hit 19.2 million tonnes (mt) in October, up from 18.2 mt in the same month last year

Planned supply-additions likely to coincide with post-election weakness in demand. Weak monsoons, rise in fuel cost to add further woes

Commodities have so far held up better than other assets as the economy has worsened. Freed from the constraints of the pandemic, fuel consumption has risen

India's delayed monsoons also supported diesel consumption by translating into better construction activity overall, Katona said

Meanwhile, LPG offtake rose to 2.34 mt in the latest month, up from 2.15 mt in May 2022

Coal usage looks likely to increase by 1.2% in 2022, surpassing 8 billion tons in a single year for the first time, according to an International Energy Agency report

They say fossil fuel use in Global North has risen, call it "double standards towards climate equity"; note that climate finance from developed nations continues to fall short of $100 bn a year goal

Sales of bitumen, used for making roads, were 11.5% lower, while fuel oil use edged up 0.9% in October

India's fuel sales soared in the first half of October with an across-the-board surge in transportation fuel demand on the back of the economic activity picking up as festival season kicked in, preliminary industry data showed. Petrol and diesel sales jumped 22-26 per cent year-on-year while also rising month-on-month in the first half of October. Petrol sales soared 22.7 per cent to 1.28 million tonne during October 1-15 when compared to 1.05 million tonne of consumption in the same period last year. Sales were 31 per cent higher than COVID-marred first half of October 2020 and 33.4 per cent more than pre-pandemic October 1-15, 2019. Demand was 1.3 per cent higher than the first half of September 2022. Diesel, the most used fuel in the country, posted a near 27 per cent rise in sales in the first fortnight of October to 3.08 million tonne when compared to the same period last year. Consumption was up 16 per cent over October 1-15, 2020 and 26.6 per cent higher than pre-COVID 2019

With prices of natural gas and coal heading to record highs and those for crude oil not far below their 2008 peak, the world seems more hooked on carbon than ever

With gas prices more than 150% higher since the Russian invasion in February, and wealthier nations able to pay more to ensure adequate supplies, emerging nations can't compete

The European Union's (EU) emergency plan to prepare for a possible halt in Russian gas supplies will come into force on Tuesday, after it was published in the bloc's official journal the previous day