Coal News We love to talk!

FEB 13 2018

Indias oil consumption grows at fastest pace in 14 months

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 13th FEB 2018


Oil demand in India rose 10.3% in January 2018, the fourth straight monthly gain.

Total oil consumption expanded at the fastest pace in 14 months to 16.9 million tonnes from 15.3 million tonnes a year ago, according to the oil ministry’s petroleum planning and analysis cell. Improvement in road freight transport following the stabilization of the new nationwide sales tax and growing use of cars and scooters boosted the consumption.

The growth in demand came over a low base as in January last year the nation’s oil consumption fell the most in 13 years following the government’s crackdown on high-value currency notes.

The International Energy Agency (IEA) sees India to be the centre of global oil demand growth until 2030. The nation expects to double gasoline and diesel consumption by that year even as it aspires to sell only electric vehicles in 2030. The two fuels account for more than half of India’s oil usage.

The Society of Indian Automobile Manufacturers (Siam) expects India’s passenger vehicles sales to expand 9% in the year ending March. The new goods and services tax (GST) does not include oil products at present.



TOTAL Oil Ministry Oil Diesel International Energy Agency Energy Petroleum Oil Demand Tax India

Related News

  • Setback for India, international panel rejects stay on Cairn arbitration  Read more
  • DBTL scheme PaHaL enrolls 80% LPG consumers in Guj  Read more
  • South Delhi civic body to use LED lamps for street lighting  Read more
  • Oil wars: How Kremlin's $13 billion Indian deal almost fell apart  Read more
  • India to auction 55 blocks for oil, gas exploration today  Read more
  • Withdraw policy on daily revision of fuel prices, DMK urges PM Modi  Read more
  • Dealership rules hurt expansion plans of oil companies  Read more
  • Brent crude falls to $100.05 per barrel  Read more
  • Crude oil falls below $50 a barrel for first time since 2009  Read more
  • Crude oil down in Asia ahead of launch of Euro Zone rescue fund  Read more