India’s oil demand bounced back in May, led by the highest growth in gasoline consumption in nine months and the fastest increase in diesel usage since November.
Total fuel consumption rose 5.4 per cent to 17.79 million tonnes in May, the most in six months, according to the oil ministry’s Petroleum Planning and Analysis Cell. Demand for diesel, which accounts for about 40 per cent of total sales, expanded 8 per cent to 7.5 million tonnes. Gasoline offtake climbed 15 per cent to 2.4 million tonnes, the fastest since August. Read more
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