Petrol sales in India surged 8.6% in October, diesel records marginal growth
Petrol and diesel sales in India rose in October, driven by higher vehicular and economic activity during the festive season.
The oil ministry reported an 8.6% increase in petrol consumption to 3.41 million tons in October, driven by higher demand for cars, SUVs, and two-wheelers.
Diesel consumption, primarily used by commercial vehicles like trucks and buses, as well as cars and SUVs, saw only modest growth.
Diesel sales increased by just 0.18% compared to October 2023, but saw a sharp 19.9% month-on-month rise, reaching 7.64 million tons in October, the highest in five months.
In October, petrol consumption stood at 3.41 million tons, up from 3.15 million tons in September and 3.36 million tons in August.
Petrol consumption in October, September, and August last year was 3.14 million tons, 3.06 million tons, and 3.09 million tons, respectively, showing a gradual increase in demand across India.
Diesel consumption in October, September, and August 2023 was 7.64, 6.37, and 6.50 million tons, respectively, slightly higher than last year.
India’s overall fuel consumption in October rose 2.9% year-on-year to 20.04 million metric tons, driven by festive season activity.
On a monthly basis, fuel demand in October rose 11.7% to 20.04 million tons, up from 17.94 million tons in September, according to PPAC data.
India is the third-largest consumer and importer of oil globally, with fuel consumption data serving as a proxy for its oil demand.
Over the last couple of months, diesel consumption was impacted by the strong monsoon, which slowed demand.
With the monsoon over and the festive season boosting economic activity, diesel consumption surged last month due to increased vehicular movement.
