India’s consumption of petroleum products hit a new record in financial year 2022-23, underscoring robust demand for transportation fuels and some other refined products, shows an analysis of data released by the Petroleum Planning & Analysis Cell (PPAC) of the oil ministry.
For the year ended March, consumption of major fuels–diesel, petrol, and liquefied petroleum gas (LPG)–broke all previous records. Petroleum product consumption is considered a measure for crude oil demand, alongside being a proxy for tracking industrial activity and domestic consumption trends.
