India fuel consumption rises 2.4% in May amid LPG shortfall
India's overall fuel use went up 2.4% in May compared with April, hitting nearly 20 million metric tons.
But it's not all good news: LPG consumption fell about 20% from a year earlier, and India was facing a severe LPG supply crisis amid shipping disruptions in the Strait of Hormuz.
Compared to last year, total fuel consumption is actually down by 6.5%.
India petrol and diesel prices rose
Most of India's LPG comes from the Middle East, which has been struggling with shipping problems through the Strait of Hormuz, so supplies are tight.
Diesel and fuel oil usage both saw an uptick, while gasoline sales slipped and industrial fuels like naphtha and bitumen took a big hit.
Meanwhile, petrol and diesel prices were bumped up several times in May to offset rising crude costs, demand growth is expected to slow this year as prices rise and trucking sector stress increases.