India's fuel consumption rises 2.1% to hit seven-month high in December

India's fuel consumption in December rose 2.1 per cent year on year to 20.67 million metric tons, its highest level since last May, oil ministry data showed on Tuesday. 

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. 

Sales of gasoline, or petrol, were 10.8 per cent higher from a year earlier at 3.31 million metric tons. 

Diesel consumption saw a rise of 6 per cent year-on-year to 8.1 million tons in December. It was down 1.3 per cent month-on-month. 

 

Cooking gas or liquefied petroleum gas (LPG) sales increased 5.8 per cent on an annual basis to 2.78 million tons in December, while naphtha sales fell 22.7 per cent to 1.07 million tons. 

India is the world's third-largest consumer and importer of oil. The data is a proxy for the country's oil demand. 

India's private sector output grew at the fastest pace in four months, preliminary readings from a survey showed last month, helping the economy end 2024 on a positive note, underpinned by sturdier demand in services and manufacturing and record jobs growth. 

Last month, Russian state oil firm Rosneft agreed to supply nearly 500,000 barrels per day of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.   

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)