February fuel demand: Demand was highest in the history of the recorded data compiled by the Indian Oil Ministry’s Petroleum Planning and Analysis Cell (PPAC), which was first started in 1998.
India’s fuel demand in February reached a 24-year high. Industrial activity in the country was also boosted by cheap Russian oil. Consumption of fuel rose by over 5 per cent to 4.82 million barrels per day (18.5 million tonnes) in February, which was the 15th consecutive on-year rise.
Demand was highest in the history of the recorded data compiled by the Indian Oil Ministry’s Petroleum Planning and Analysis Cell (PPAC), which was first started in 1998.
Sales of gasoline, or petrol, rose 8.9 per cent year-on-year to 2.8 million tonnes in February, while diesel consumption climbed 7.5 per cent to 6.98 million tonnes. Sales of jet fuel jumped more than 43 per cent to 0.62 million tonnes, as per the data. Cooking gas, or liquefied petroleum gas (LPG), sales slipped by 0.1 per cent to 2.39 million tonnes.
Sales of bitumen, which is used for building roads, jumped 21.5 per cent on-month, while fuel oil use declined slightly more than 5 per cent in February, compared with January.
