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 […]
India’s petroleum products demand growth is expected to stay between 1 per cent and 3 per cent in the current financial year ending March 2020 and is likely to stay at the same level next fiscal 2020-2021, research and ratings agency ICRA has said. In its year end outlook the agency also maintained a stable […]
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 […]
OPEC’S share of India’s oil imports fell to 73 per cent in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers. India, which usually imports about 80 per cent of its needs from members of the Organization of the Petroleum […]
Overall refined fuels consumption, a proxy for oil demand, fell 1.4 per cent to 17.41 million tonnes on an annual basis in October, the steepest decline since June, according to data posted on the website of Petroleum Planning and Analysis Cell. Sales of gasoline, or petrol, rose 8.9 per cent in October from a year […]
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 […]
India’s fuel demand slipped to its lowest in over two years last month in September 2019 after a fall in diesel and industrial fuel consumption negated the rise in petrol and LPG consumption. Consumption of petroleum products in September dropped to 16.01 million tonnes, its lowest since July 2017, from 16.06 million tonnes in the […]
Is this the harbinger of real slowdown of Indian growth wagon? Falling imports of crude oil does not augur well for the economy. India’s June crude oil imports fell 13.4 per cent from a year earlier to their lowest since February 2017, according to official data. Crude imports into the world’s third-biggest oil importer fell […]
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 […]
The government is likely to soon permit supermarkets to retail petrol and diesel in its bid to ease fuel access to end consumers. The Ministry of Petroleum and Natural Gas in this regard may come up with a Cabinet note to relax existing norms, the Business Standard reported, citing sources. The government is expected to […]
