India’s fuel demand slipped in January after hitting a nine-month peak in December, hit by lower mobility due to cold weather in parts of the country and a slowdown in industrial activity.
Consumption of fuel, a proxy for oil demand, was about 4.6% lower than the previous month at 18.7 million tonnes in January, data from Indian oil ministry’s Petroleum Planning and Analysis Cell (PPAC) showed on Wednesday.
Sales of diesel fell 7.6% in January from a month ago to 7.18 million tonnes, while sales of gasoline, or petrol, fell 5.3% to 2.82 million tonnes, the PPAC data showed.
