India’s September gas consumption crawled increased month-on-month as financial exercise continued to ramp up, authorities information confirmed on Wednesday, however hovering international oil costs might stall a restoration on this planet’s third-biggest oil importer and shopper.
Gas consumption, a proxy for oil demand, totalled 15.92 million tonnes final month, up barely from August and 5.2% increased than in September 2020, information on the Petroleum Planning and Evaluation Cell (PPAC) web site confirmed.
However total, consumption was nonetheless 1.7% beneath September 2019.
Monsoon rains and delivery constraints had prompted a dip in consumption in August.
Petrol gross sales slipped 3.5% from August, however climbed 6% year-on-year and 9.5% from September 2019.
Elevated private mobility drove petrol demand, “which has clearly moved above pre-COVID ranges”, mentioned Hetal Gandhi, director at CRISIL Analysis.
Consumption of diesel, which typical accounts for about 40% of refined gas gross sales, additionally eased 1.7% month-on-month to five.51 million tonnes, and was 5.6% decrease in contrast with September 2019.
However diesel gross sales rose barely from the identical interval final 12 months.