India's June fuel demand up 2.6pc

India's fuel consumption rose by 2.6 per cent year-on-year to 19.99 million metric tons in June from a year earlier, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Monday, reports Reuters.
India is the world's third-biggest oil importer and consumer. The data is a proxy for the country's oil demand.
Prashant Vasisht, vice president and co-head, corporate ratings at India Credit Rating Agency (ICRA), said there had been solid economic growth in India, "and there was a lot of tourist activity this year as compared to last year. Jet fuel has been gradually improving ... In the power sector the power supplies were more regular, leading to the farming and agricultural sector being well supplied and that has also led to less dependence on diesel."
Total consumption totalled 19.99 million metric tons in June, up from 19.48 million tons last year, data showed.
Demand was down 3.5 per cent on a monthly basis from the 20.72 million metric tons consumed in May.
Sales of diesel, mainly used by trucks and commercially run passenger vehicles, fell 5 per cent month-on-month to 7.98 million tons in June. It was up 1 per cent from a year earlier.