NEW DELHI: India’s fuel consumption rose for a 3rd straight month in November, helped by reviving transportation and enterprise exercise, though a year-on-year fall pointed to a sluggish financial restoration.
Consumption of refined fuels, a proxy for oil demand, in November rose 0.4% from the earlier month to 17.83 million tonnes, information from the Petroleum Planning and Evaluation Cell (PPAC) of the Ministry of Petroleum & Pure Gasoline launched on Saturday confirmed.
Diesel consumption, a key parameter linked to economic growth and which accounts for about 40% of total refined gasoline gross sales in India, edged up 0.6% month-on-month, however fell 7% to 7.04 million tonnes on an annual foundation.
Gasoil consumption in India, which has been one of many main drivers for Asian demand for the gasoline in current weeks, alongside regular progress in total gasoline gross sales, has prompted the nation’s refiners to ramp up capability.
“For Asia Pacific gasoil/diesel demand, restoration is accelerating in This autumn 2020, pushed primarily by India because the nation now enters excessive seasonal gasoil/diesel demand interval,” mentioned WoodMac analysis affiliate Qiaoling Chen.
Gross sales of gasoline, or petrol, rose by 0.4% from October and 5.1% from a yr earlier to 2.66 million tonnes.
India’s each day coronavirus circumstances have declined steadily, though the nation has the world’s second-highest variety of infections with greater than 9.8 million circumstances.
Whole fuel demand fell 3.7% on yr after registering its first year-on-year enhance since February in October, as manufacturing and providers slowed with shoppers staying indoors to keep away from getting contaminated by the novel coronavirus.
Cooking gasoline, or liquefied petroleum gasoline (LPG), gross sales elevated by about 4% to 2.35 million tonnes from a yr earlier, however fell 2.9% from the earlier month, whereas naphtha gross sales rose by 7.2% to 1.34 million tonnes year-on-year.
Gross sales of bitumen, used for making roads, had been up about 19% on yr, whereas these of gasoline oil elevated by about 8.7%.
Consumption of refined fuels, a proxy for oil demand, in November rose 0.4% from the earlier month to 17.83 million tonnes, information from the Petroleum Planning and Evaluation Cell (PPAC) of the Ministry of Petroleum & Pure Gasoline launched on Saturday confirmed.
Diesel consumption, a key parameter linked to economic growth and which accounts for about 40% of total refined gasoline gross sales in India, edged up 0.6% month-on-month, however fell 7% to 7.04 million tonnes on an annual foundation.
Gasoil consumption in India, which has been one of many main drivers for Asian demand for the gasoline in current weeks, alongside regular progress in total gasoline gross sales, has prompted the nation’s refiners to ramp up capability.
“For Asia Pacific gasoil/diesel demand, restoration is accelerating in This autumn 2020, pushed primarily by India because the nation now enters excessive seasonal gasoil/diesel demand interval,” mentioned WoodMac analysis affiliate Qiaoling Chen.
Gross sales of gasoline, or petrol, rose by 0.4% from October and 5.1% from a yr earlier to 2.66 million tonnes.
India’s each day coronavirus circumstances have declined steadily, though the nation has the world’s second-highest variety of infections with greater than 9.8 million circumstances.
Whole fuel demand fell 3.7% on yr after registering its first year-on-year enhance since February in October, as manufacturing and providers slowed with shoppers staying indoors to keep away from getting contaminated by the novel coronavirus.
Cooking gasoline, or liquefied petroleum gasoline (LPG), gross sales elevated by about 4% to 2.35 million tonnes from a yr earlier, however fell 2.9% from the earlier month, whereas naphtha gross sales rose by 7.2% to 1.34 million tonnes year-on-year.
Gross sales of bitumen, used for making roads, had been up about 19% on yr, whereas these of gasoline oil elevated by about 8.7%.