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India’s crude oil imports dipped by 2.2 per cent in January to 11.28 million tonnes, despite fuel demand growing by a healthy 6 per cent, according to official data released here.
Asia’s third largest economy imported 11.286 mt of crude oil in January against 15.123 mt a year ago, the data showed.
During the month, fuel consumption expanded by 6 per cent to 12.045 mt. The expansion was mostly because of a healthy 6.3 per cent growth in diesel demand to 5.006 mt and an 8.9 per cent rise in petrol consumption to 1.141 mt.
Reflecting buoyancy in the aviation sector, jet fuel demand was up 12.3 per cent to 446,300 tonnes, while LPG consumption rose 9.2 per cent to 1.277 mt. Refiners boosted crude oil processing to a record 15.2 mt in January, 8.7 per cent higher than that in the year-ago period.
Fuel imports jumped by 57.4 per cent to 1.518 mt. The inward shipments mostly comprised LPG, with the cargo volume increasing by 46.1 per cent to 490,200 tonnes.
Exports, however, dipped by 44.3 per cent to 2.661 mt, with diesel shipments declining by 70.6 per cent to 501,100 tonnes.
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