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India's crude oil imports rose in December on firm demand, data from Petroleum Planning and Analysis Cell (PPAC) showed on Monday.

However, the government has estimated a growth of 2.5% in the consumption of LPG, while demand for diesel is seen rising 3%.

Indian Fuel Demand: Consumption of bitumen, used for making roads, is likely to rise by 3.4%, while naphtha demand is expected to drop by 7.4%. Demand for petcoke, a better-burning alternative to coal, could increase 4.1% to 20.1 million tonnes, while demand for liquefied petroleum gas, used as cooking fuel in the country, is estimated to grow by 2.4% to 30 million tonnes, PPAC data showed.

Indias fuel consumption is expected to rise 2.7% in the next fiscal year beginning on April 1, according to data from the Petroleum Planning and Analysis Cell. Consumption of gasoline is expected to rise by 5.4% to 39.2 million tonnes, while diesel consumption is expected to increase by 2.7% to 92.4 million tonnes.

India imports more than 87% of its petroleum requirements despite being a key refining hub in Asia

Even as the government wants to reduce India’s high dependency on imported crude oil, sluggish domestic oil output in the face of steady growth in domestic demand has led to reliance on imports rising over the years.

Reliance Industries Ltd is seeking a minimum USD 10 rate for gas produced from coal seams in Madhya Pradesh, as it adjusts its pricing formula to reflect the changing energy scenario. Users are asked to quote a premium over and above 12.67% of the Dated Brent crude oil price. The minimum gas price is set at USD 10 per mmBtu, with a minimum premium of USD 0.50 per million British thermal units.

Reliance seeks minimum USD 10 for coal-seam gas | Latest News Delhi

The total consumption, serving as a proxy for oil demand, marked a notable 6.2 per cent increase from Novembers 18.89 million tons (mt) and reflected a 2.6 per cent rise compared to the same period in the previous year, , petrol, consumption

Reliance Industries Ltd is seeking a minimum USD 10 rate for the gas it plans to produce from coal seams, as it altered its pricing formula to reflect the changed energy scenario. Reliance has sought bids from users for 0.90 million standard cubic meters per day of gas it will produce from