Oil demand dips 0.2% in Q1 but petrol, diesel sales rise
New Delhi: India’s oil demand in the first quarter of this financial year was 0.2% lower than that a year ago as sales of industrial, aviation and kitchen fuels fell, although sales of petrol climbed 10% and that of diesel went up 2.1%.
Oil demand expanded 2.7% in 2018-19, when the economy grew 6.8%. In 2017-18, oil demand and the GDP grew 5.9% and 7.2%, respectively.
It’s hard to draw an exact relationship between oil sales and economic activity, but analysts say contraction in fuel sales can suggest a slowdown.
