NEW DELHI: India’s fuel sales posted a smart rebounded and power demand surged by a record 22% in October as the monsoon clouds over economic activities lifted and auto sales raced ahead, signalling the onset of festive season demand.
Government data showed power consumption spiking to 138.9 billion units (BU) compared to 113.9 BUs a year ago and 112.7 Bus in October 2021 on the back of post-monsoon resumption of economic activities and Durga Puja festivities in large parts of the country.
The same factors added traction to October fuel sales, with preliminary market data showing a 5% increase in diesel from a year ago, the sharpest increase since May.
