Fuel consumption in India, a proxy for oil demand, increased 4.6 per cent, to hit a record high of 233.32 million tonne (mt) in FY24.This was lower than the 10.57 per cent rise seen in FY23.
The demand fell by 0.6 per cent on an annual basis in March as a result of lesser petroleum coke use, data released by the Petroleum Planning and Analysis Cell (PPAC) has shown. Consumption of fuel was 21.09 mt in March, down from 21.22 mt in March 2023.
