Petroleum products consumption in India slips by 0.6% in January 2020

Domestic consumption of petroleum products in January 2020 slipped by 0.6 per cent year-on-year (y-o-y) to 18.4 million tonnes, mostly on the back of lower sales of diesel, bitumen and fuel oil. According to provisional data by the government’s petroleum planning and analysis cell (PPAC), diesel usage dipped 1.9 per cent to 6.9 million tonnes. In […]

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India’s shrinking diesel demand points to a frightening economic slowdown

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India’s demand for diesel is slowing as the country’s car fleet shifts predominantly to gasoline, trucks get more efficient and solar pumps displace diesel-fed units across the countryside, claims a Reuters report. The combination of these changes has led analysts, academics and company officials to speculate that diesel demand growth in the world’s third-largest crude […]

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Falling demand in India may prompts India to export diesel

India’s sputtering economy is turning the energy-hungry nation into an unlikely source of diesel exports, reports Bloomberg. The industrial fuel is the lifeblood of Indian manufacturing, transport and agriculture, making it the country’s most-consumed petroleum product. But five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since […]

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Petroleum sector contributes Rs.595,438 crore to India’s exchequer in 2018-19

The government at the centre and states have earned Rs 595,438 crore from petroleum products such as petrol and diesel in 2018-19, a government statement said. This was possible as the prices of petrol and diesel were deregulated. Petrol price was made market-determined by the government with effect from June 26, 2010, and the diesel […]

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