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India’s fuel demand rose by its slowest pace in almost 12 years after monthly price increases chipped away growth in diesel consumption.
The world’s fourth largest oil consumer saw petroleum products demand growing by a meagre 0.7 per cent to 158.197 million tonnes in 2013-14, according to the latest Oil Ministry data.
The growth is the slowest since 2001-02 when demand had expanded by 0.4 per cent to 100.432 million tonnes.
Diesel, which is India’s most consumed fuel accounting for close to 45 per cent of the total petroleum products demand, recorded a 1 per cent drop in demand at 68.370 million tonnes, the first drop in consumption since 3.7 per cent fall in 2001-02.
Diesel demand had risen by 6.7 per cent in 2012-13 to 69.08 million tonnes. It posted a record 11.1 per cent growth rate in 2007-08 and since then had showing near 8 per cent growth.
India had recorded a 6 per cent growth in fuel consumption in 2012-13 to 157.057 million tonnes, according to the data.
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