India’s fuel demand growth hits near 2-year high in November
BENGALURU : India’s fuel demand grew by 10.5% in November from a year earlier, its fastest pace since January 2018, driven by higher consumption of transport fuels gasoil and gasoline, and cooking gas.
Consumption of refined fuels, a proxy for oil demand in Asia’s third largest economy, totalled 18.77 million tonnes in the month, preliminary data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Wednesday.
The International Energy Agency in a report released on Thursday forecast India’s oil demand growth in 2019 and 2020 to stay below levels seen between 2015 and 2018.
