India: Fuel demand highest in 10 years
India posted a 15.1 percent surge in fuel consumption in September from the same month a year ago, making it the biggest rise since 2005, according to Petroleum Planning and Analysis Cell (PPAC) of the country’s oil ministry.
Last month’s fuel sales in the Asia’s third largest economy, which is also the world's fourth-largest oil consumer, totalled 14.70 million tonnes. Diesel consumption rose 20.1 percent to 5.89 million tonnes, reported Reuters.
Drought and weak monsoon rains have driven the country’s demand for diesel-powered pump irrigation.
The rising demand for passenger vehicles last month, on the other hand, has led to higher gasoline consumption, which rose 25.4 percent to 1.9 million tonnes from a year earlier.
Cooking gas sales, moreover, increased 4.1 percent to 1.6 million tonnes, while naphtha sales rose 38.4 percent to 1.2 million tonnes
The South Asian’s industrial production has been expanding at a rapid rate thanks to the growing influx of capital investment in the country.
