(Reuters) – India’s fuel consumption rose for a third straight month in November, helped by reviving transportation and business activity, although a year-on-year fall pointed to a sluggish economic recovery.
Consumption of refined fuels, a proxy for oil demand, in November rose 0.4% from the previous month to 17.83 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas released on Saturday showed.
Diesel consumption, a key parameter linked to economic growth and which accounts for about 40% of overall refined fuel sales in India, edged up 0.6% month-on-month, but fell 7% to 7.04 million tonnes on an annual basis.
