India’s fuel demand touched a five-month high in October as demand for vehicles ahead of the festive season led to a surge in the consumption of diesel and gasoline. Oil demand during the month shot up 17% to 15.2 million metric tonnes from a year earlier, the highest since May, as per the data of Petroleum Planning and Analysis Cell (PPAC).
Diesel use rose 16% to 6.34 million tonnes, while gasoline consumption increased 14% to 1.85 million tonnes. With the onset of the festival season, passenger car sales jumped 22% in October, while industrial production rose 3.6% in September from a year earlier.