India’s fuel demand posts its first yearly increase since February
India’s fuel demand posted its first yearly increase since February as a spurt in diesel demand ahead of the festival season pushed consumption to pre-Covid-19 levels.
Total demand for petroleum products rose 2.5 per cent in October to reach 17.77 million tonnes compared to 17.34 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning and Analysis Cell.
Diesel demand soared 7.4 per cent year-on-year to 6.5 million tonnes while petrol sales were up 4.5 per cent at 2.54 million tonnes. The growth in diesel consumption is the highest in a year. Fuel demand had snipped by 49 per cent in April after a nationwide lockdown, imposed to curb the spread of coronavirus, shut industries and took most vehicles off road.
