- Overall fuel consumption in India increased by 2.9% in October 2024 compared to the same period last year.
India’s petrol and diesel sales rose in October due to increased vehicle and economic activity across the country during the festive season. The petroleum ministry revealed that consumption of gasoline, which is used to power personal vehicles such as cars, SUVs and two-wheelers, increased 8.6% last month compared to the same period last year to 3.41 million tonnes.
Consumption of diesel, which is widely used in commercial vehicles such as trucks and buses and in mobility segments such as cars and SUVs, is only growing. Compared with October 2023, diesel sales increased only slightly by 0.18% last month. Interestingly, this is the highest diesel sales in India in the past five months.
Also Read: Upcoming Cars in India
In October, September and August this year, gasoline consumption was 3.41 million tons, 3.15 million tons and 3.36 million tons respectively. In comparison, gasoline consumption in October, September and August last year were 3.14 million tons, 3.06 million tons and 3.09 million tons respectively. This shows a gradual increase in petrol consumption across India.
On the other hand, diesel consumption in October, September and August this year were 7.64 million tons, 6.37 million tons and 6.5 million tons respectively, compared with 7.63 million tons, 6.49 million tons and 6.67 million tons in the same period last year.
Also Read: Upcoming Bikes in India
Driven by increased economic activity during the festival, India’s overall fuel consumption increased by 2.9% year-on-year to 20.04 million tons in October. On a monthly basis, fuel demand increased by 11.7% last month, compared with 17.94 million tonnes recorded in September this year, data from the Petroleum Planning and Analysis Group (PPAC) website showed.
India is the world’s third largest oil consumer and importer. Fuel consumption data represents the country’s oil demand. Diesel consumption has been weighed down by strong monsoons in the past few months. However, diesel consumption surged last month as monsoon ended and economic activities during the festive season boosted vehicle activity.
Get an in-depth look at upcoming cars in India, electric vehicles, upcoming bikes in India and cutting-edge technologies that are changing the automotive landscape.
First published date: November 7, 2024 07:49 AM IST
