According to preliminary data from India’s Petroleum Planning and Analysis Cell (PPAC), India’s fuel consumption dipped by 0.6% in March 2024 (compared to March 2023), but demand for the 2024 financial year ending in March increased by about 5%, primarily due to higher automotive fuel and naphtha sales. According to the PPAC, total consumption totalled 21.09 Mt (4.99 mb/d) in March 2024, down from 21.22 Mt (5.02 mb/d) in March 2023, while fuel demand during the financial year rose to 233 Mt (4.67mb/d) compared to the 223 Mt (4.48 mb/d) in 2023.
In fiscal year 2023-2024, diesel sales rose by 4.4%, gasoline sales increased by 6.4%, recording 3.32 Mt with an overall year-on-year increase of almost 7%, and sales of fuel oil declined by 6.3%.
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