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    Home / News / Business News / February fuel demand in India highest since 1998
    Business

    February fuel demand in India highest since 1998

    February fuel demand in India highest since 1998
    Written by Ayushi Goswami
    Mar 10, 2023, 02:42 pm 1 min read
    February fuel demand in India highest since 1998
    Consumption of petrol jumped 8.9% year-on-year to 2.8 million tons in February

    India's fuel demand hit its highest level in February since 1998, with industrial activity boosted by cheap Russian oil, the data compiled by the Indian Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) showed, according to Reuters. The consumption of fuel increased by over 5% to 4.82 million barrels per day (bpd) last month, marking the 15th consecutive year-on-year rise, as per the report.

    Fuel demand to drop in April-May

    According to the PPAC data, consumption of petrol jumped 8.9% year-on-year to 2.8 million tons in February, while diesel sales rose 7.5% to 6.98 million tons. Kpler, a data analytics company, has projected a fuel demand of 5.17 million bpd in March. The demand will drop to 5 million bpd in April and May due to the seasonal monsoon-driven slowdown, according to the company.

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