India’s fuel consumption jumps over 12 per cent on demonetisation

India’s fuel consumption jumps over 12 per cent on demonetisation

India’s fuel demand growth continued its upward trajectory for the third straight month in November 2016 fuelled largely by demonetisation that allowed the use of banned Rs 500 and Rs 1,000 notes for payment of auto and cooking fuels.

The consumption of petrol, diesel, kerosene and cooking gas rose 12 per cent during the month as compared to a 6 per cent growth in the same month last fiscal (Nov 2015).

According to data published by Petroleum Planning & Analysis Cell (PPAC), overall fuel consumption rose 9.4 percent for the first eight months of the current fiscal as compared to 9.5 per cent growth in the corresponding period last fiscal. Read More…

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