May 25, 2024 07:24 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Bangladeshi MP Anwarul Azim was honey-trapped; killers were paid Rs. 5 cr for his gory murder: Cops | NIA arrests another key conspirator in Bengaluru Rameshwaram Cafe blast case | Delhi court convicts Medha Patkar in criminal defamation case filed by Delhi LG VK Saxena | 2 cops suspended for 'not following protocol' in Pune Porsche accident case | Sadhus hit Kolkata streets in protest against Mamata Banerjee's attack on Kartik Maharaj
India's April oil consumption rises by 6% YoY: Oil Ministry
Photo courtesy: Unsplash

India's April oil consumption rises by 6% YoY: Oil Ministry

| @indiablooms | 07 May 2024, 04:11 pm

New Delhi: India witnessed a 6.1 percent year-on-year increase in fuel consumption, according to data released by the Petroleum Planning and Analysis Cell of the Oil Ministry.

As the world's third-largest oil importer and consumer, this data is a key indicator of the country's oil demand.

Total consumption reached 19.86 million metric tons (equivalent to 4.85 million barrels per day) in April, up from 18.71 million tons recorded the previous year.

However, there was a 5.8 percent decrease in demand compared to March, which saw consumption totalling 21.09 million metric tons.

Diesel sales, primarily used to operate trucks and commercially run passenger vehicles, experienced a 1.4 percent year-on-year increase to 7.93 million tons in April. Gasoline sales surged by 14 percent compared to the previous year, reaching 3.28 million tons.

On the other hand, demand for bitumen, used in road construction, saw a decline of over 5 percent annually.

Cooking gas (liquefied petroleum gas) sales rose by nearly 10 percent to 2.36 million tons, while naphtha sales increased by 3.9 percent to approximately 1.16 million tons compared to the previous April.

However, fuel oil use witnessed a notable decline of more than 16 percent year-on-year in April.

Despite fluctuations in fuel consumption, India's economy remains the fastest-growing among major peers, with GDP expected to expand by 6.5 percent in the current fiscal year.

Although there was a marginal slowdown in growth in India's manufacturing sector in April, demand remained robust, prompting firms to increase purchases of raw materials at a near-record pace, as indicated by a recent business survey.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.