India’s oil consumption rises for third month before Lok Sabha Elections


India’s oil consumption rises for third month before Lok Sabha Elections

Oil consumption in India continued to gather strength in February as increased demand for transportation and cooking fuel ahead of federal elections outweighed an economic slowdown. India’s total usage of oil products increased 3.8 percent to 17.4 million tons in February from a year ago, according to the oil ministry’s Petroleum Planning & Analysis Cell.

Key Insights 

India’s oil demand in January grew at the fastest pace in six months after declining for three months in the second half of last year. Hectic campaigning during the Lok Sabha polls, set to kick off next month, will boost the use of transportation fuel as political parties traverse the country courting voters.

Demand for liquefied petroleum gas is also surging, with state refiners seeking to import cargoes of the cooking fuel as the government tries to keep voter morale high by ensuring rural households are well supplied. Read More

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