India#39;s fuel demand rose 2.8% YoY in August
India’s fuel demand rose 2.8 percent in August compared with the same month last year.
Consumption of fuel, a proxy for oil demand, totalled 17.04 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Sales of gasoline, or petrol, were 8.9 percent higher from a year earlier at 2.57 million tonnes.
Cooking gas or liquefied petroleum gas (LPG) sales increased 13.0 percent to 2.40 million tonnes, while naphtha sales surged 3.7 percent to 1.15 million tonnes.
Sales of bitumen, used for making roads, were 23.8 percent up, while fuel oil use edged lower 15.9 percent in August.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.