Fuel demand declined 11.4% in November after festival boost
The Hindu
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India’s fuel consumption fell in November after scaling a seven-month peak in the preceding month, government data showed, as demand eased in the world’s third-biggest oil consumer after the festival season.
Fuel consumption, a proxy for oil demand, totalled 17.13 million tonnes, down 4% from October and was 11.4% lower than a year ealier, data from the oil ministry’s Petroleum Planning and Analysis Cell showed.
Fuel demand rose in October to a seven-month peak, while gasoline sales surged to an all-time high, as festivals boosted mobility and economic activity.
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