India Oil Demand Rises 3.3% in April After Falling for 3 Months
- Diesel use rises 2.8 percent, gasoline usage grows 4.5 percent
- Expect 4%- 5% growth in India’s fuel consumption in FY18: IOC
Trucks stand parked at the road loading gantry of the Numaligarh Refinery Ltd. complex in Golaghat, India.
Photographer: Adeel Halim/BloombergThis article is for subscribers only.
India’s oil demand bounced back in April after falling for three consecutive months, recovering from the impact of the country’s move to withdraw high-value notes.
Fuel consumption rose 3.3 percent to 16.79 million tons in April, according to the Oil Ministry’s Petroleum Planning and Analysis Cell. Diesel use, which accounts for about 40 percent of the total fuel demand in India, increased 2.8 percent to 6.96 million tons and gasoline consumption rose 4.5 percent to 2.09 million tons.