{"id":12646,"date":"2024-12-07T10:14:40","date_gmt":"2024-12-07T10:14:40","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=12646"},"modified":"2024-12-07T10:14:40","modified_gmt":"2024-12-07T10:14:40","slug":"indias-fuel-demand-jumps-to-a-six-month-high-in-november","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/12646\/","title":{"rendered":"India’s fuel demand jumps to a six-month high in November"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0India’s fuel consumption in November rose by 9.3% year-on-year to 20.43 million metric tons, reaching its highest level since May, oil ministry data showed on Friday.<\/p>\n

WHY IT IS IMPORTANT<\/p>\n

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

KEY QUOTE<\/p>\n

All fuels saw larger increase due to a combination of factors like solid economic activity and travel activity, said analyst Giovanni Staunovo of UBS.<\/p>\n

BY THE NUMBERS<\/p>\n

On a monthly basis, fuel demand was up 2% from 20.02 million tons in October, data from the Petroleum Planning and Analysis Cell’s (PPAC) website showed.<\/p>\n

Sales of gasoline, or petrol, were 9.6% higher from a year earlier at 3.43 million metric tons, marking its highest level since May 2024.<\/p>\n

Diesel consumption saw a rise of 8.5% year-on-year to 8.17 million tons in November, its highest in six months. It was up 6.9% month-on-month basis.<\/p>\n

Cooking gas or liquefied petroleum gas (LPG) sales increased 7.5% on an annual basis at 2.67 million tons in November, while naphtha sales edged up 0.5% to 1.05 million tons.<\/p>\n

CONTEXT<\/p>\n

India’s dominant services industry rose at its fastest pace<\/span> in three months in November, helped by an improving services industry and record job creation, but output inflation spiked to a near 12-year high, a survey showed.
India’s factory growth cooled in November yet maintained a strong pace<\/span>, leading to significantly improved optimism despite demand easing a bit due to higher price pressures, a business survey found.<\/p>\n

Asia’s imports of jet fuel from India are set to hit multi-year highs<\/span> in November ahead of peak winter demand after refinery outages and lower exports from China crimped supplies, according to industry sources and shiptracking data.<\/p>\n

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

\n\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

NOV.<\/p>\n<\/td>\n

\n

OCT.<\/p>\n<\/td>\n

\n

SEPT.<\/p>\n<\/td>\n

\n

NOV.<\/p>\n<\/td>\n

\n

OCT.<\/p>\n<\/td>\n

\n

SEPT.<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

8.17<\/p>\n<\/td>\n

\n

7.64<\/p>\n<\/td>\n

\n

6.37<\/p>\n<\/td>\n

\n

7.53<\/p>\n<\/td>\n

\n

7.63<\/p>\n<\/td>\n

\n

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

\n

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

\n

3.43<\/p>\n<\/td>\n

\n

3.41<\/p>\n<\/td>\n

\n

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

\n

3.13<\/p>\n<\/td>\n

\n

3.14<\/p>\n<\/td>\n

\n

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

\n

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

\n

2.67<\/p>\n<\/td>\n

\n

2.73<\/p>\n<\/td>\n

\n

2.60<\/p>\n<\/td>\n

\n

2.49<\/p>\n<\/td>\n

\n

2.50<\/p>\n<\/td>\n

\n

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

\n

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

\n

1.05<\/p>\n<\/td>\n

\n

1.18<\/p>\n<\/td>\n

\n

1.02<\/p>\n<\/td>\n

\n

1.05<\/p>\n<\/td>\n

\n

1.19<\/p>\n<\/td>\n

\n

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

\n

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

\n

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

\n

0.76<\/p>\n<\/td>\n

\n

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

\n

0.69<\/p>\n<\/td>\n

\n

0.69<\/p>\n<\/td>\n

\n

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

\n

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

\n

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

\n

0.03<\/p>\n<\/td>\n

\n

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

\n

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

\n

0.03<\/p>\n<\/td>\n

\n

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

\n

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

\n

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

\n

0.65<\/p>\n<\/td>\n

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

0.69<\/p>\n<\/td>\n

\n

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

\n

0.62<\/p>\n<\/td>\n

\n

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

\n

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

\n

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

\n

20.43<\/p>\n<\/td>\n

\n

20.02<\/p>\n<\/td>\n

\n

17.94<\/p>\n<\/td>\n

\n

18.68<\/p>\n<\/td>\n

\n

19.47<\/p>\n<\/td>\n

\n

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

\n

Updated on