India’s fuel consumption up by 3.3% y-o-y in January

9 Feb 2023 , 11:30 AM

Fuel consumption in India, a proxy for oil demand, increased 3.3% year on year in January to around 18.7 million tonnes, according to data from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC) on Wednesday.

Gasoline, or petrol, sales increased 14.2% to 2.82 million tonnes. Sales of cooking gas or liquefied petroleum gas (LPG) fell 2.1% to 2.51 million tonnes.

The growth in fuel demand is a positive indicator of the recovery of India’s industrial and agricultural sectors, which had been impacted by the COVID-19 pandemic. 

The increasing fuel demand also reflects the improving consumer sentiment, as people are becoming more confident in traveling and spending on transportation. These factors are expected to continue supporting the growth of India’s fuel demand in the coming months.

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