Data from the Petroleum Planning and Analysis Cell of the Indian Ministry of Oil showed today, Thursday, that India’s demand for fuel increased by more than 5% on an annual basis in February, but it recorded its lowest level since October.
Fuel consumption, which is an indicator of oil demand, was 18.49 million tons.
Gasoline sales increased 8.9% to 2.8 million tons. Sales of cooking gas, or liquefied petroleum gas, decreased 0.1% to 2.39 million tons, according to Reuters.
Preliminary fuel sales data on March 1 showed that sales of gasoil and gasoline increased in February compared to January, indicating growth in industrial activity.
Sales of road-grade bitumen jumped 21.5% month-on-month, while fuel oil use fell just over 5% in February compared to January.