India witnessed a 0.6% year-on-year decline in fuel consumption in March, according to preliminary data from the Petroleum Planning and Analysis Cell. However, for the fiscal year ending in March 2024, fuel demand surged by approximately five percent, driven by increased sales of automotive fuel and naphtha. Diesel sales rose by 3.1% in March and 4.4% for the fiscal year, while gasoline sales grew by 6.9% and 6.4%, respectively. Bitumen sales remained stable in March but increased by 9.9% for the fiscal year. LPG sales surged by 8.6%, while fuel oil usage declined by 9.7% in March and 6.3% for the fiscal year.
India’s Fuel Consumption Dips in March, but FY24 Sees 5% Growth
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