India: 24% increase in May fuel consumption by 18.2 million tons

India’s fuel consumption jumped 23.8% in May, compared to a year ago, to continue recovering from a relatively low level in 2021 when the world’s third largest oil consumer was in the grip of a second wave of Covid-19. Total fuel consumption, which is A measure of oil demand, 18.27 million tons last month, according to data from the Petroleum Planning and Analysis Cell of the Indian Ministry of Oil, and the increase last month was the largest year-on-year jump since April 2021, and consumption rose modestly, by 0.4%, compared to April April 2022.
Ehsanul Haq, an analyst at Refinitiv, said: “Demand in May 2021 was low due to the high cases of Covid-19 at that time, although the monthly rise was surprising. However, it is likely that the rise in oil prices will have an impact on consumption in the next few months, and diesel consumption rose by 31.7% in May, compared to it a year ago, to 7.29 million tons, and increased by about 32.6%, compared to it two years ago, and increased Gasoline sales increased by 51.5% compared to a year ago, to reach 3.02 million tons. (Archyde.com)