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India Crude Oil Imports: Data from the Petroleum Planning and Analysis Cell's (PPAC) website also showed imports of crude oil products dipped nearly 12% to 3.83 million tons on a yearly basis, while product exports decreased 6.4% to 5.66 million tons over the same period.
India's fuel consumption decreased by 0.6% year-on-year in March, totaling 21.09 million metric tons. However, demand for the 2024 financial year increased by about 5%, reaching a record high of 233.276 million tons. Sales of diesel, gasoline, bitumen, cooking gas, and naphtha saw increases, while fuel oil usage declined in both March and the fiscal year.
Indian Fuel Demand: Total consumption, a proxy for oil demand, totalled 21.09 million metric tons (4.99 million barrels per day) in March, down from 21.22 million tons (5.02 mbpd) last year, preliminary data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Saturday.
In contrast, India's fuel consumption dipped by 0.6 percent year-on-year in March
The fuel demand for the financial year ending in March 2024 reached a record high of 233.276 million tonnes (4.67 mbpd), up from 223.021 million tonnes (4.48 mbpd) the previous year.