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India's fuel demand rises 2.8% y/y in August, at 9-month low

India's fuel demand rose 2.8% in August compared with the same month last year, but were at their lowest level in nine months. 

Consumption of fuel, a proxy for oil demand, totaled 17.04 million tonnes, its lowest since last November, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Wednesday. 

 

Sales of gasoline, or petrol, were 8.9% higher from a year earlier at 2.57 million tonnes. 

 

Diesel sales fell 1.1% to 6.12 million tonnes, its first year-on-year percentage decline in nine months. 

 

Cooking gas or liquefied petroleum gas (LPG) sales surged 13% to 2.40 million tonnes, while naphtha sales increased 3.7% to 1.15 million tonnes. 

 

Sales of bitumen, used for making roads, were up 23.8%, while fuel oil use edged lower 15.9% in August. 

 

Source:The Economic Times   www.economictimes.indiatimes.com