{"id":11813,"date":"2024-09-07T07:55:59","date_gmt":"2024-09-07T07:55:59","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11813"},"modified":"2024-09-07T07:55:59","modified_gmt":"2024-09-07T07:55:59","slug":"indias-fuel-demand-dips-2-6-y-y-in-august-diesel-demand-drops","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11813\/","title":{"rendered":"India’s fuel demand dips 2.6% y\/y in August, diesel demand drops"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0India’s fuel consumption in August fell by more than 2% year-on-year to 18.35 million metric tons, oil ministry data showed on Friday, with diesel demand hit due to above-normal monsoon rains.<\/p>\n

WHY IT IS IMPORTANT<\/h2>\n

India is the third-largest consumer and importer of oil. The data is a proxy for the country’s oil demand.<\/p>\n

KEY QUOTE<\/h2>\n

“I would describe the data point as mixed picture, with strength in gasoline, jet demand, LPG, but weakness in diesel, pet coke and naphtha. I guess the monsoon (too much rain) negatively impacted the agricultural sector, hence the weakness of diesel demand,” said analyst Giovanni Staunovo of UBS.<\/p>\n

“Strong gasoline and jet fuel demand suggest solid travel activity.”<\/p>\n

BY THE NUMBERS<\/h2>\n

Fuel demand was down 6.7% on a monthly basis versus 19.66 million metric tons in July, data from the Petroleum Planning and Analysis Cell’s (PPAC) website showed.<\/p>\n

Sales of diesel, mainly used by trucks and commercially run passenger vehicles, fell 2.5% from a year earlier and totaled 6.50 million metric tons in August. It was down nearly 10% on a monthly basis.<\/p>\n

Sales of gasoline or petrol were 8.6% higher from a year earlier at 3.36 million metric tons, and edged up nearly 2% from July .<\/p>\n

Jet fuel demand jumped 8.1% on a yearly basis and 0.7% from the previous month.<\/p>\n

Demand for bitumen, used for making roads, dropped to over 17% annually.<\/p>\n

Cooking gas or liquefied petroleum gas (LPG) sales increased 7.7% to 2.65 million metric tons, while naphtha sales fell 3.7% to 1.16 million metric tons year-on-year, the data showed.<\/p>\n

Fuel oil use edged up 3.1% year-on-year in August.<\/p>\n

CONTEXT<\/h2>\n
India is forecast to receive above-average rain fall in September after surplus rains in August, the weather department said last week.<\/div>\n
India’s manufacturing activity growth eased in August as demand softened significantly, according to a survey, casting another shadow over the otherwise robust economic outlook.<\/div>\n

DOMESTIC SALES (in million tons):<\/p>\n

\n
\n\n<\/thead>\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

2024<\/p>\n<\/td>\n

\n

2024<\/p>\n<\/td>\n

\n

2024<\/p>\n<\/td>\n

\n

2023<\/p>\n<\/td>\n

\n

2023<\/p>\n<\/td>\n

\n

2023<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n\n

AUGUST<\/p>\n<\/td>\n

\n

JULY<\/p>\n<\/td>\n

\n

JUNE<\/p>\n<\/td>\n

\n

AUGUST<\/p>\n<\/td>\n

\n

JULY<\/p>\n<\/td>\n

\n

JUNE<\/p>\n<\/td>\n<\/tr>\n

\n

Diesel<\/p>\n<\/td>\n

\n

6.5<\/p>\n<\/td>\n

\n

7.2<\/p>\n<\/td>\n

\n

7.98<\/p>\n<\/td>\n

\n

6.67<\/p>\n<\/td>\n

\n

6.89<\/p>\n<\/td>\n

\n

7.91<\/p>\n<\/td>\n<\/tr>\n

\n

Petrol<\/p>\n<\/td>\n

\n

3.36<\/p>\n<\/td>\n

\n

3.3<\/p>\n<\/td>\n

\n

3.3<\/p>\n<\/td>\n

\n

3.09<\/p>\n<\/td>\n

\n

2.98<\/p>\n<\/td>\n

\n

3.15<\/p>\n<\/td>\n<\/tr>\n

\n

LPG<\/p>\n<\/td>\n

\n

2.65<\/p>\n<\/td>\n

\n

2.63<\/p>\n<\/td>\n

\n

2.32<\/p>\n<\/td>\n

\n

2.46<\/p>\n<\/td>\n

\n

2.39<\/p>\n<\/td>\n

\n

2.23<\/p>\n<\/td>\n<\/tr>\n

\n

Naphtha<\/p>\n<\/td>\n

\n

1.16<\/p>\n<\/td>\n

\n

1.15<\/p>\n<\/td>\n

\n

1.01<\/p>\n<\/td>\n

\n

1.21<\/p>\n<\/td>\n

\n

1.04<\/p>\n<\/td>\n

\n

1.06<\/p>\n<\/td>\n<\/tr>\n

\n

Jet fuel<\/p>\n<\/td>\n

\n

0.73<\/p>\n<\/td>\n

\n

0.73<\/p>\n<\/td>\n

\n

0.71<\/p>\n<\/td>\n

\n

0.68<\/p>\n<\/td>\n

\n

0.66<\/p>\n<\/td>\n

\n

0.64<\/p>\n<\/td>\n<\/tr>\n

\n

Kerosene<\/p>\n<\/td>\n

\n

0.04<\/p>\n<\/td>\n

\n

0.04<\/p>\n<\/td>\n

\n

0.04<\/p>\n<\/td>\n

\n

0.05<\/p>\n<\/td>\n

\n

0.05<\/p>\n<\/td>\n

\n

0.05<\/p>\n<\/td>\n<\/tr>\n

\n

Fuel Oil<\/p>\n<\/td>\n

\n

0.53<\/p>\n<\/td>\n

\n

0.53<\/p>\n<\/td>\n

\n

0.57<\/p>\n<\/td>\n

\n

0.51<\/p>\n<\/td>\n

\n

0.56<\/p>\n<\/td>\n

\n

0.51<\/p>\n<\/td>\n<\/tr>\n

\n

Bitumen<\/p>\n<\/td>\n

\n

0.42<\/p>\n<\/td>\n

\n

0.51<\/p>\n<\/td>\n

\n

0.74<\/p>\n<\/td>\n

\n

0.5<\/p>\n<\/td>\n

\n

0.51<\/p>\n<\/td>\n

\n

0.75<\/p>\n<\/td>\n<\/tr>\n

\n

TOTAL<\/p>\n<\/td>\n

\n

18.35<\/p>\n<\/td>\n

\n

19.66<\/p>\n<\/td>\n

\n

19.93<\/p>\n<\/td>\n

\n

18.85<\/p>\n<\/td>\n

\n

18.29<\/p>\n<\/td>\n

\n

19.48<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

\n

Updated on