India’s monthly fuel demand slips to 10-month low in September: Govt

India’s monthly fuel demand in September was at the lowest since November 2021, government data released on Friday showed.

Total monthly fuel demand in September fell 3.6% from August, although it was up 8.1% when compared with September 2021.

“When we look at the drop in Indian oil demand, part of it had to do with seasonal maintenance of the refineries, not necessarily a softening of the economy,” said Phil Flynn, analyst at Price Futures Group in Chicago.

“We expect that the demand for India is going to pick up here very, very shortly as we get into winter.”