NEW DELHI: India’s fuel demand grew 4.5% in February from a year earlier, the first increase in two months, government data showed, indicating some recovery in the country’s industrial activity over the last month.
Consumption of refined fuels, a proxy for oil demand, totalled 18.22 million tonnes in February (approximately 5 million barrels a day), data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Thursday.
That would be in keeping with the latest report from the International Energy Agency that said India’s oil demand would rise by 2.6% this year to 5.13 million barrels per day.
The demand for gasoline used in passenger vehicles rose in February at its fastest since May last year, growing about 11.2% from a year earlier to 2.51 million tonnes. Diesel grew at its fastest in three months, rising 6.3% from a year earlier to 7.16 million tonnes, the data showed.
