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India’s fuel demand grows 1% in July

LiveMint logoLiveMint 14-08-2017 PTI

New Delhi: India’s fuel demand grew by over 1% in July as consumption of diesel and petrol rose, government data showed.

Fuel consumption in July totalled 15.8 million tonnes as compared to 15.63 million tonnes in the same month of 2016, data from the petroleum planning and analysis cell (PPAC) of the oil ministry showed.

The growth was higher than the 0.4% recorded in June when consumption of industrial fuel had dipped.

Oil demand has been erratic in 2017-18 so far—growing by 6.1% in May and 2.4% in April.

For July, diesel sales were up 8.5% at 6.3 million tonnes while petrol consumption was up 11.6% at 2.14 million tonnes.

With a record number of free cooking gas connections being doled out, LPG sales were up 12.5% to 1.92 million tonnes.

Since launch of the scheme to provide free liquefied petroleum gas (LPG) connections to women of poor households in May 2016, more than 2.6 crore connections have been given.

Naphtha sales fell 30% to 833,000 tonnes. Consumption of bitumen, used for making roads, also dipped 8% to 255,000 tonnes.

Oil demand had plunged 5.9% in January, the most in 13 years, after the shock demonetisation of high-value currency notes in November 2016.

Demand fell 3.1% in February and 0.7% in March before rebounding in April.

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